This year continues with many challenges, but every day we become stronger and more resilient to achieve the goals we have as individuals and as a team.
This June edition comes with industry news, announcements and celebrations. For more details, keep reading the newsletter, I'm sure you'll enjoy it!
For the northern hemisphere of our beautiful planet, summertime is here. The first thing that gets to my head is a massive Thank You for your dedication and hard work.
We are proud of our 500+CBX Team employees worldwide, our partners, and our customers who trust us. Thanks to you, CBX Global continues to move forward regardless of the challenges during these unprecedented times. We truly appreciate everyone’s effort and commitment to accomplishing our goal: serving our company employees and customers.
The dramatic changes in the supply chain business worldwide, COVID, inflation, economic challenges, and wars are some of the continuous news we get daily; at the same time, we are focused on our future, sustainable growth, and our people. That is why we continue to work on structural changes to be strong and invest in our growth to keep moving forward regardless of any storm.
For that reason we have many announcements of future events to share:
a redesigned website, with a non-stop evolution for our visitors and employees
a new future online tracking system to provide easy access to our shipments, employees and customers
an oncoming marketing service for our employees and sales to have access to many great CBX Global stuff
expansions of our 500,000 sqft of warehouse capability globally
multiple technology projects to be integrated with our customers with efficient management to all our entities around the globe
a forthcoming CBX Global office in multiple places like Costa Rica, Bangladesh, and Vietnam
a major evolution of accessible data information flow and BI for faster and more accurate decisions
multiple team initiatives and projects all over the globe to move the company toward the future
... and much more to come!
Regardless of the current global situation, I remain focused and hopeful , and CBX Global keeps moving forward to the future as One Team. Just be ready for the good things to come, always!
Joselin Ramos | Chief Executive Officer
Logistics World - Current Situation
Disruptions to the supply chain aren’t over yet. It is predicted that supply chain issues facing the United States will continue all 2022, citing demand as one of the top contributors. The Ports of Los Angeles and Long Beach, which account for 40% of shipping containers entering the U.S. are operating 24/7 to relieve supply chain bottlenecks. But with labor shortages in both warehousing and transportation, consumers will face shortage of products from all kind.
“We do not expect an improvement in schedule disruptions through the end of the year," Matthew Hill, head of the North America import market for Maersk, told JOC.com. “The primary issue will be the continued erosion around schedule reliability and general operational limitations we see across the supply chain on both sides of the ocean.”
Supply Chain shockwave
An article published on JOC.com regarding apparel industries summarized it all. Importers worried about stockpots due to cargo stuck on the water, at marine terminals, or at inland rail ramps are building inventories of back-to-school — and even holiday — apparel and footwear well in advance of the typical trans-Pacific peak season. That’s making it tougher for retailers to forecast how much of a given product they should order and putting additional pressure on their supply chains, according to Nate Herman, Senior VP of policy with the American Apparel & Footwear Association (AAFA).
“The holiday season accounts for over 50% of sales, so trying to deal with the shipping crisis while making sure that we have product in for the holidays has created difficult situations.” Herman told JOC.com. All kind of companies "are trying to bring in many products early and this has created a whole litany of inventory issues trying to store these products, and there are warehouse capacity issues all around the US.”
On the other hand, skyrocketing shipping costs, with spot trans-Pacific ocean freight pricing up nearly 150% year over year, according to benchmarking firm Xeneta, are also a major concern. Vessels are lining up outside major US cargo ports, and transit times for containers headed inland are being further stretched by inconsistent international intermodal rail service.
As a result, shippers are faced with a choice between potentially lengthy delays for cargo moving by rail, whether transloaded or intact inland point intermodal (IPI), and the extra costs of transporting cargo by truck.
Is hard to see the cost of trans-Pacific vessels going back to where it was before the pandemic. The new normal on rates will be higher, so some shippers are considering shifting sourcing from Asia to Central America because it’s a cheaper for transportation. However, this change has its own risks due primarily to geopolitical instability and a higher incidence of severe weather events such as earthquakes and hurricanes.
Rising fuel costs are a massive problem for business and consumers
No less important, even before Covid, energy producers cut back on investment and less profitable projects under pressure from low prices and institutional shareholders demanding higher returns.
Then producers slashed output further during the throes of the pandemic, when the need for petroleum products fell off a cliff. People weren’t going anywhere and businesses were shuttered, so far less fuel was needed.
Economies have since reopened, manufacturing has revived, and people are driving and flying again. This led to a surge in demand and an increasingly tight oil market beginning last fall. Then, Russia’s invasion of Ukraine at the end of February sent an already fragile energy market reeling, considering that Russia is the largest oil and products exporter in the world, and the European Union relies on it for natural gas. U.S. oil shot to the highest level since 2008 on March , topping $130 per barrel.
In an interview during the retailer’s first-quarter earnings call, Walmart President and CEO Doug McMillon said that "fuel costs accelerated during the quarter faster than we were able to pass them through, creating a timing issue. In a CNBC.com coverage McMillon added that “fuel ran over $160 million higher for the quarter in the U.S. than we forecasted.”
It's still uncertain how the cost of oil will affects consumers by the end of the second and third quarter of the year, but the current price of WTI (West Texas Intermediate) crude oil as of June 14, 2022 is 118.93 per barrel.
Asia Consolidations to USA
CBX Global has weekly consolidations from China to USA to move your general cargo. Here the routes:
· Taiwan – Miami
· Ningbo - Miami
· Shanghai - Miami
For details, contact our Asia Support Team or send us an eMail to AsiaConsol@cbxglobal.com
Angel Renán Cubas Murillo, Trucker and Warehouseman at SAP
Over the years, Renán has gained experience in managing physical inventory in most of the CBX SAP warehouse accounts. He is always open to acquiring new knowledge inside and outside the warehouse, He has made himself a valuable member of the team and the station due to his level of performance and collaborative attitude.
Gustavo Henriques, Customs Agent at SDQ
He's been at the company for almost 12 years now, and his coworkers describe him as an affable person and a hard worker who is always willing to help and support others.
Geraldina Bonilla, Warehouse Manager at SAL
During 10 years of performance, Geraldina has shown two important things: a desire to learn in all areas and her true commitment to CBX Global. She's a loyal and dynamic professional.
Alexander Mendez, Warehouse Assistant at SAL
Alex has been in his job for 10 years, he's an expert handling the forklift, very skilled with the knowledge of the product per client and he perform every assigned task in detail. He's also proactive and a great peer.
Zuly De Los Santos, Accounting Assistant at Nigua
Since 2017, Zuly has demonstrated to be diligent in her work and puts effort into doing and completing the support accounting processes need. She's always ready to perform.
Richard Cordero, Fleet Manager at BQN
At the helm of our machine shop, Richard is responsible for ensuring that our fleet is in top condition. In different functions, he has been a part of our team for 17 years. He never has a 'no' for an answer and is always ready to help!
Carlos Rodriguez, Warehouse Team Leader at JAX
He's coworkers describe Juan Carlos as a hard worker with plenty of experience loading and unloading freight. With only 1 year with CBX Global, he has demonstrated the leadership and the passion to exceed him in his role within the company.
Months of May and June are for Special Celebrations!
We want to celebrate all the Senior Students, Mothers and Fathers out there!
We hope you ALL had a great day!!!
Happy Mother’s Day!!!!
Master of multitasking. Thank you for all the hugs, words of encouragement, and patience through the years.
To all Moms for always taking care of us, even when it wasn't easy.
SENIORS 2022
As parents, we are always proud of our children's accomplishments.
The CBX Global family congratulates all the Class of 2022 Seniors!
Happy Father’s Day!!!
For all the wonderful things dads do that we might not always notice, Thank You!
Congratulations to all the dads who day by day transport love and happiness to their children.
WCA - Convention
In the picture, from left to right: Joselin Ramos, CEO-CBX Global, Jan Van Der Poorten, Director - Global Network of CF Global (CBX Global Bangladesh Agent), and Eddie Knight - Global Solutions VP - CBX Global.
With over 10,779 member offices in 193 countries around the world, WCAworld is the world’s largest and most powerful network of independent freight forwarders. The combined logistics might of the WCAworld membership exceeds that of even the world’s largest multinational freight forwarders.
In June 2022, the second annual WCAworld conference was held in Dublin, Ireland. The event was open to over 700 members of all WCAworld networks and attracted a large number of delegates from around the world. As a distinguish WCA member, CBX Global was there!
The event offered all members to re-connect in person and strengthen existing relationships, as well as offering an opportunity to develop new business.
In the picture, Leandro Fonseca, CBX Global VP - Commercial Development, winner (in conjunction with Mr. Jose Javier Ramirez) of 1st place, Callaway - at PRMA Convention Golf Tournament.
The Puerto Rico Manufacturing Association (PRMA) held in June their annual convention titled: Unleashing the Power of Prosperity. During the event, Executives from CBX Global had the opportunity to connect with local and international leaders and entrepreneurs from various field.
Established in 1928, PRMA was created with the objective of uniting Puerto Rico manufacturers and Business man interests and the economic development of the Island. Currently, CBX Global CEO, Mr. Joselin Ramos, is part of the PRMA Board as Director for Central Florida.
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