Positive impacts and applications of AI in warehouse management. The ripple effect of AI extends from precise inventory management to nimble order fulfillment, demonstrating its capacity to reshape the very core of warehouse functionality.
Shipping delays as well as receipt of damaged goods happen every day. These problems leave angry customers wanting to find out why they happen and how best to handle them. Topic Shipping delays will update new data, causes and ways to reduce them (2023)
The impact of high temperatures on cargo transportation, no one likes this surprise. What are your thoughts on solving this challenge?
Top 10 types of cargo vessels in the world, container ship is a cargo ship that carries all of its load in truck-size intermodal containers, in a technique called containerization.
NEW UPDATE 2023 - Top 15 largest shipping companies in the world. Summary of TEU, how to choose a shipping company that suits the needs of suppliers and logistics.
Airbus venture to fill more domestic orders after the government approves airframe alteration
Some observers worry that the Los Angeles-Long Beach docks will struggle to stay the US’s No. 1 ocean-freight gateway over the long run. A shift to other ports is getting supercharged by simmering West Coast port labor talks — which are set to hit the one-year mark this week — as well as the near-shoring of factory production amid rising tensions with China, and US population growth shifting to the Sunbelt states.
Thousands of containers packed with essential food items, raw materials and medical equipment have been held up at Karachi port as the country grapples with a desperate foreign exchange crisis.
The United States is known as the country with the most developed economy in the world, import and export trade takes place smoothly on the east and west coasts, especially in seaports, where all trade transactions are concentrated. international trade. Today, Worldcraft Logistics would like to introduce to you the 10 largest seaports in the US, the demand for sending goods to the US increases every year, the volume of goods imported and exported through the port is up to millions of TEUs. Contributing to the development of the US economy, connecting the region and being an important link in the global supply chain.
Among the methods of transporting goods to China, sea transportation is the most appreciated form with many certain advantages. So what should you pay attention to when shipping goods to China by sea? What is the sea freight cost? Let's find out with Worldcraft Logistics in the article below!
Fast LCL transportation has become the top choice for businesses searching for logistics services in the current market. With the impact of COVID-19, the demand for fast LCL transportation has significantly increased, especially for transporting personal protective equipment (PPE), which has seen a recent surge in demand.
In the first quarter of the year, the average export price of rice was estimated at 531 USD/ton, up 9.2% over the same period in 2022. This is the highest average export price of rice in 10 years.
The situation is so bad that Australian Agriculture Minister Murray Watt has urged car companies to "make sure vehicles are cleaned before they are loaded onto ships to Australia". The minister told The Age and The Sydney Morning Herald: "I can declare the matter resolved tomorrow if the car manufacturers do their part."
🚚 Lawmakers in both houses of Congress introduced the Truck Parking Safety Improvement Act, authorizing $755 million over 4 years for safe parking for truckers. The bill aims to increase and improve safe parking for truckers, primarily through new facilities or by converting existing weigh stations and rest areas. This move will make our roads safer for all commuters and ensure efficient transportation of goods and supplies to the market. 💪 Let's support our truckers and make their jobs safer and easier by expanding parking options
California Plans to Speed Up Deadline for Zero-Emissions Trucks to 2036! The California Air Resources Board has proposed the Advanced Clean Fleet (ACF) rule, aiming to phase out diesel-powered trucks in the state. The proposal also includes an acceleration of the target for requiring zero-emission vehicles (ZEVs) in the trucking sector
🚂 FreightCar America is ready to meet any increase in demand for nonflammable tank cars! 🚚 Following the derailment of a Norfolk Southern train in Ohio, federal regulators are considering advancing the timeline to fully implement DOT-117 tank cars into the rail car pool from 2029 to 2025. With other rail car manufacturers busy producing DOT-117 tank cars, FreightCar America is poised to produce nonflammable tank cars that could carry commodities such as vegetable oils. In addition to their focus on nonflammable tank cars, FreightCar America has made significant investments to meet demand, including the development of a longer planning horizon with suppliers, as well as the doubling of their fabrication shop's capacity. The company has also entered into a refinancing agreement, which will close in May, providing additional capital to accelerate their next phase of growth and eliminate debt. Join FreightCar America in meeting the challenges of the rail industry, and explore their comprehensive railcar solutions today!
Supply chain and logistics are an integral part of every large or small business. Worldcraft Logistic will help your business run efficiently and cost effectively. Without a effective plan, your costs will rise
Introducing Breeze, the digital insurance startup revolutionizing marine and cargo insurance! With Patrizia Kern, a seasoned marine insurance professional, joining as Chief Insurance Officer, Breeze is set to transform the industry with innovative technology, data, and machine learning. Get ready for more transparency, efficiency, and sustainability in freight management. Are you curious to see how Breeze can support your logistics business?
Navigating a softening market and challenging economic times? Don't worry, we've got you covered! Discover 5 game-changing strategies that can help your logistics company grow even during a downturn. Want to know the secrets to overcoming obstacles and staying competitive?
Pitney Bowes faces a proxy battle with activist firm Hestia Capital Partners, who's looking to replace key board members and oust the CEO. Despite criticism, Pitney Bowes stands by its CEO, Marc Lautenbach, and the company's strategic transformation over the past decade. With a strong focus on the middle market retail segment, the company is optimistic about its future in the e-commerce logistics industry. Curious about the whole story?
Did you know that the Teamsters union has called for Yellow Corp. to stop using outside transportation capacity? Yellow's proposed changes of operation have been rejected, and the union has given them a 30-day notice that the use of purchased transportation is no longer permitted. Purchased transportation accounted for 14.3% of Yellow's revenue last year. Want to know more about what this means for Yellow and the industry as a whole?
Reducing carbon emissions has led to a historically low number of crude and product tanker orders, posing potential profits for existing tanker owners. With increasing pressure to decarbonize shipping, uncertainty about future regulations & vessel propulsion discourages new orders. Are we heading towards a tanker capacity crisis?
Freight companies are reevaluating their expectations for a demand surge as economic uncertainty grows and retailers hold back on new orders. Falling retail sales and cautious inventory control by major companies like Nike are casting doubt on the anticipated freight rebound in 2023. Will the industry see a revival during the fall peak shipping season, or will these trends continue?
Major trucking news! Knight-Swift Transportation is set to acquire U.S. Xpress Enterprises for a whopping $808 million, further strengthening their position as one of the largest trucking companies in the US. The deal will bring the annual revenue run-rate for Knight-Swift to nearly $10 billion and expand their truckload fleet to around 25,000 tractors and 93,000 trailers. Are you curious about the impact of this acquisition on the trucking industry?
Florida's Flagship Transport leaves 455 truck drivers without jobs and unpaid for weeks! Drivers arrived to pick up their paychecks, only to find themselves in the dark about the company's status
Tensions rise at West Coast ports as labor negotiations continue! Dockworkers at Los Angeles and Long Beach ports are accused of slowing cargo handling, leading to significant delays and truck backups. The situation is affecting U.S. trade flows as the parties struggle to resolve their differences. Want to stay updated on this evolving situation?
Union Pacific has reached agreements with eight unions to provide workers up to seven paid sick days! This deal follows similar arrangements made at other Class I railroads and will be effective starting April 1st. With more than 40% of Union Pacific's workforce now covered, ongoing negotiations with the remaining unions continue. Want to learn more about this development?
C.H. Robinson's CEO Selection Process Remains Uncertain! Discover why the appointment of Jim Barber, former COO of UPS, as the new CEO hasn't been confirmed and the challenges the new CEO will face. Curious to know more?
Discover how Locus Robotics is revolutionizing warehouse operations with their new LocusOne platform! Seamlessly integrating various Autonomous Mobile Robot (AMR) models, LocusOne enhances task capabilities, optimizes efficiency, and centralizes management. With this innovative solution, warehouses can now experience a unified robotic fleet that can easily adapt to diverse tasks. Curious to learn more about LocusOne's impact on the world of warehouse automation?
Rising container volumes at Houston and New Orleans Ports! February saw robust cargo volumes at the ports of Houston and New Orleans, with plastics and resins driving loaded container exports. Port Houston experienced a 15% increase in container volume, while the Port of New Orleans handled 33% more TEUs compared to the same month last year. However, import demand is softening as retailers work to clear their distribution centers. Want to know more about these trends and what they mean for the industry?
In 2023, Logistics and transportation industry thanks to the progressive adoption of advanced engineering technologies, artificial intelligence, machine learning, and more. The future of the supply chain industry is unpredictable because it changes rapidly and constantly. Here are #5 trends for the future of devices in logistics and transportation:
Rugged devices are built for a variety of ultra-tough conditions. While handheld mobile scanners and ultra-tough tablets for outdoor workers are prominent examples of rugged, they’re not the only durable options to consider. The rugged device category includes a surprising range of device types including tablets, smartphones, and even sleek and lightweight hardware for hospitality, retail, education, and healthcare.
Railway Rundown: CSX revamps operations, boosts industrial development program & adds to site selection tools. Norfolk Southern reaches sick leave deal with union. RailState names BNSF veteran to advisory board Exciting times for the railway industry! CSX is restructuring its operations and enhancing its site selection program, while Norfolk Southern seals a sick leave agreement with another union. And let's not forget RailState adding a BNSF veteran to its advisory board! Curious to learn more about these developments and how they're transforming the industry?
The trans-Pacific shipping contract season is reaching a pivotal moment, and the outcome of rate negotiations will have a major impact on U.S. imports, liner profitability, and service reliability. Import demand is weak due to bloated inventories, and spot rates are falling while contract rates remain high. What does this mean for the freight industry? Find out more in our latest article and discover how this complex situation could affect your supply chain.
Exciting news! Atlassys TMS has integrated FreightWaves TRAC truckload spot rates into its software, bringing high-frequency data to its transportation management platform. This game-changing update will help dispatch teams to make better rate, bid, and booking decisions, enhancing their daily workflow and maximizing margins. Don't miss out on this opportunity to streamline your logistics operations! Find out more about this powerful integration and how it can benefit your business
Exciting news from the logistics industry! The British International Freight Association (BIFA) has achieved its first success milestone in attracting talent to the logistics sector. Freight forwarder KTL (Europe) Ltd is the first company to hire a candidate who completed the Freight Development Pathway (FDP) program. Louie Turner, now a trainee customs operator at KTL, praises the FDP as the perfect fit for him. This achievement highlights the effectiveness of the collaboration between BIFA and Manpower UK in addressing talent shortages and helping more individuals find employment in the freight industry. Want to know more about this groundbreaking initiative?
Check out how IAG Cargo plans to expand its Americas capacity through new British Airways passenger flights to Aruba and Guyana. The cargo division of International Airlines Group will offer capacity on twice-weekly BA-operated Boeing B777-200 widebody aircraft from London Gatwick Airport. This capacity will serve exports of perishables, local produce, and oil equipment. IAG Cargo utilises the belly capacity of its subsidiary airlines and also has partnerships that provide access to freighter capacity
Check out how deugro, a project specialist forwarder, successfully delivered thirteen plant components to a petrochemical plant in Saudi Arabia in just seven days through three consecutive AN-124-100 air charter flights from Italy and Belgium. The delivery was needed urgently to prevent a production line shutdown. Read the full article to learn about the cargo details, the challenges faced, and the flight details
Looking to reduce your carbon footprint? Digital freight platform Convoy has launched a new solution to help shippers report their greenhouse gas emissions and reduce their carbon footprint. With the US Securities and Exchange Commission expected to make emissions reporting mandatory by 2024, Convoy’s emission insights dashboard provides real-time reporting and detailed emission reports that help shippers decarbonize their operations. By providing insight into 97% of a load's life cycle, the dashboard helps shippers understand their scope 3 emissions and make tactical decisions to reduce their carbon footprint
Are we approaching a pivotal point in the trucking sector? Analysts are predicting a challenging earnings season for transportation companies, with uncertain demand growth for the second half of 2023. Deutsche Bank's analyst Amit Mehrotra highlights the significance of real-time data to determine mid-term outlooks for transportation stocks. With this in mind, it's crucial for businesses to stay up-to-date with the latest information to make informed decisions
Curious about Walmart's latest collaboration with packaging specialist Packsize? They've teamed up to create a new right-sized, on-demand box machine called the Ultra5. Already installed in the first of Walmart's four next-gen fulfillment centers, the Ultra5 produces up to 600 boxes per hour, minimizing costs and environmental impact. Walmart's SVP of innovation and automation praised the partnership for enhancing the customer unboxing experience and reducing waste. Check out the Ultra5's unique features at the ProMat 2023 event in Chicago. Want to learn more about Walmart's innovative solutions?
Looking for innovative, safe, and productive warehouse vehicles? Look no further than Yale Lift Truck Technologies, now rebranded as Yale Lift Truck. At ProMat 2023, Yale showcased multiple fully electric vehicles, including the lithium-ion-integrated three-wheel sit-down truck, and the Yale Reliant system, which can be added to any model to provide operator assistance and safety technologies. With a focus on customer-centric design and a commitment to technology integration and support from its independent dealer network, Yale is changing the game when it comes to forklifts
"Is AB5 Fair to App-Based Drivers? Uber and Postmates Revive Lawsuit" Uber and Postmates have partially revived their lawsuit against AB5, arguing that it unfairly targets app-based drivers. A recent decision by the 9th U.S. Circuit Court of Appeals overturned a lower court ruling, granting the ride-hailing companies significant victories. The decision cites statements made by AB5's key sponsor, Lorena Gonzalez, expressing openness to exemptions for musicians but not for app-based ride-hailing and delivery companies. This decision could set a precedent for other industries, including the trucking industry, which has also been affected by AB5. Is AB5 fair to app-based drivers?
Diesel prices continue to fall for the 7th consecutive week due to a potential banking crisis. However, the price drop has been more consistent compared to crude oil prices. Could this be a good time to fuel up?
West Coast port workers and employers fail to reach a contract agreement, causing cargo delays and disruptions at the busiest entry points for imported goods in the US. Employers accuse dockworkers of deliberately slowing down cargo handling, leading to significant delays in operations and truck backups at terminal gates. Negotiations have been ongoing since May 2022, covering over 22,000 dockworkers at 29 ports from California to Washington. Talks were set to resume on Tuesday, but the parties involved seem no closer to resolving their disagreements
Information in the article shows that Mexico's transportation industry is developing and has very high prospects. Wages and total employees in Mexico’s cargo trucking industry increased slightly between the final quarter of 2022 and the same period a year earlier.
Lufthansa and Swissport are taking their partnership to new heights! Swissport has been chosen as Lufthansa's cargo handling partner at Nairobi's Jomo Kenyatta Airport. With 11 years of collaboration under their belt, Swissport is now expanding their services to include cargo handling and warehousing. Did you know that Swissport's Nairobi Cargo Center can handle a wide range of goods, including perishables and temperature-sensitive items? Plus, they've recently introduced an innovative "flower corridor" that extends the shelf life of fresh-cut flowers and reduces waste
Are you a Norfolk Southern investor? A law firm specializing in shareholder rights has filed a class-action lawsuit against the company over Precision Scheduled Railroading issues. The modifications have been linked to a recent derailment and declining stock prices. Don't miss out on your chance to seek compensation. Contact Bragar Eagel & Squire to join the lawsuit today.
The Kremlin views Russia's isolation from the global financial system due to Western sanctions as a protective measure against the impact of the ongoing banking crisis in the US. Despite facing challenges from international banks withdrawing and restrictions on energy exports, Russian President Vladimir Putin remains optimistic about the resilience of the country's economy. However, concerns have been raised about the need for foreign investors as Russia's funds continue to dwindle.
Asian and European markets recover as First Republic Bank receives a $30 billion bailout from major US banks, easing investor concerns amid the ongoing banking crisis. The rescue action has restored some confidence in the financial sector, with Credit Suisse also tapping into a lifeline from the Swiss National Bank. Despite the turbulence, European shares show modest gains, and investors now await the Federal Reserve's anticipated rate hike decision.
Air cargo industry sees a slight improvement but faces ongoing challenges like high inflation, the Ukraine conflict, and rising jet fuel costs. Despite a few positive signs, airfreight may not benefit much from increased trade as ocean freight becomes more attractive.
Key KPIs for Supply Chain Performance! Discover how On-Time, In-Full (OTIF), Claims Rate, Accessorial Spend, Tender Acceptance & Rejection, and Average Dwell Time can help improve your shipping experience and supply chain network. Boost your carrier partnerships and become a "shipper of choice"!
Cathay Pacific's cargo tonnage increased by 59.6% in February, thanks to capacity recovery! Demand is recovering post-Lunar New Year holidays, with e-commerce traffic boosting growth. Cathay plans to operate 50% of pre-pandemic passenger flight capacity by end of March.
Discover how the dynamics between retailers and suppliers are changing as pandemic pressures subside! Retail giants like Walmart are pushing back on price increases and leveraging their purchasing power to regain control of their supply chains. With ongoing changes in consumer spending and inflation impacting pricing, tensions between suppliers and retailers are rising
Lufthansa Cargo reveals plans for future aircraft purchases! Focusing on the growing e-commerce market, the airline will expand its short- and medium-haul freighters while holding off on widebody freighter orders. With record revenues and a stable cargo volume, Lufthansa Cargo is set to modernize its fleet and boost intra-European e-commerce services
Kodiak Robotics and Forward Air Corp. are revolutionizing the freight industry with thrice-weekly autonomous round-trips between Dallas and Atlanta! They aim to eliminate drivers on specific routes by 2024, enhancing efficiency and supply chain resilience. Learn how these self-driving trucks can operate for six days without rest or recalibration, and discover the partnerships that make this innovation possible. Are autonomous trucks the future of freight?
Drone Delivery Canada (DDC) has secured a $75,000 grant from the DAIR Green Fund to revolutionize eco-friendly transportation! The funding supports their Care by Air project, delivering healthcare goods with clean energy drones. Advancing BVLOS capabilities, DDC will expand delivery options while aligning with its mission to develop sustainable innovations.
Boeing is setting up a new facility in India to convert 737-800 passenger aircraft into cargo jets! Amid a cooling airfreight market, this expansion brings added capacity to meet growing regional cargo needs.
Manitoba legislators aim to unmask "chameleon carriers" on Canadian roads! New amendments to the Highway Traffic Act target trucking companies that rebrand to dodge safety violations
DP World, the Dubai-based maritime giant, is set to establish a new air cargo logistics hub in Punta Cana, Dominican Republic! This multimodal hub will include a logistics center and infrastructure for air, land, and sea cargo. Operations are expected to begin in Q2 2023. This expansion aims to attract more global commerce, stimulate economic growth, and transform the Dominican Republic into the region's most important logistics hub.
Gatik & Kroger are teaming up for autonomous grocery deliveries in Dallas! Gatik's box trucks will streamline transportation, initially with safety drivers onboard. This partnership adds to Gatik's growing list of Fortune 500 clients
United Airlines invests $5 million in Viridos, a bioengineering company that produces Sustainable Aviation Fuel (SAF) from microalgae. SAF is expected to have a 70% smaller carbon footprint compared to traditional jet fuel, making it an attractive source for biofuel production. United aims to achieve net-zero carbon emissions by 2050 and has invested in more than 3 billion gallons of SAF. Through the UAV Sustainable Flight Fund, United and other corporate partners are working towards decarbonizing air travel
IndiGo appoints Mark Sutch as chief commercial officer of its CarGo International division to develop cargo solutions using A321 freighters and belly space. Sutch brings 25 years of experience in the airline industry and was previously with CMA CGM Air Cargo and Cathay Pacific Airways. IndiGo recently acquired two passenger-to-freighter aircraft to support its cargo business and meet India's growing air cargo demand.
Latam Cargo has launched a twice-weekly cargo route from Los Angeles and Houston to South America via Quito, Manaus, and Sao Paulo. The new service aims to expand Ecuador's flower export destinations beyond Miami and Amsterdam, as well as meet the needs of shippers of industrial and electronic components, auto parts, machinery, engines, and other goods bound for Brazil. The airline currently operates seventeen Boeing 767-300 freighters and plans to add four more by 2024. Latam Cargo's reorganization resulted in a modernized fleet and a debt reduction of $3.6 billion
Trucking industry experiences unprecedented job losses in February with 8,500 jobs lost, attributed to reduction in shippers' volume expectations. The downward trend is expected to continue with a decline in contract rates and prices for used equipment. Meanwhile, warehouse jobs decreased and rail jobs saw a small drop
Kodiak Robotics demonstrates how their autonomous truck can safely come to a stop when a sensor fails. The high-autonomy Class 8 truck is equipped with a third-generation Kodiak Drive system that would enter fallback mode and wait for additional instructions. Kodiak plans to remove the driver from its autonomous trucks by 2024 and substitute a daycab for a sleeper cab. The startup is focusing on resolving any system issues that could lead to a fallback or pullover scenario
The air cargo market continues to face challenges, with global airfreight flight hours declining for the 10th consecutive month in January. The decline in flight hours for all-cargo airlines is an additional sign of the sluggish airfreight market. Flight hours are down across most markets, with North America-Asia and North America-Europe seeing some of the steepest declines. Despite the decline, global freighter utilization is still 14% higher than it was prior to the pandemic
Exciting news! Maersk, a logistics and shipping company, has formed the Indian Subcontinent, Middle East, and Africa (IMEA) region by combining West & Central Asia and Africa regions. Richard Morgan has been appointed as the IMEA region's managing director. This integration is in response to the post-pandemic market's ever-changing conditions, such as softening demand, evolving customer behavior, and an increasing need for competitive and reliable logistics. The IMEA region has a geographically strategic location, making it a natural advantage for creating hubs for both ocean and air transport
With a soft market anticipated for 2023, shippers should prepare for the next market cycle. To maximize lower rates and prepare for the market recovery, shippers should migrate volume to the spot market, expand and strengthen their network of shippers and carriers, and enhance their supply chain technology. With these strategies, shippers can operate more efficiently and navigate potential market disruptions in the future
Auto production is down from pre-pandemic levels, leading to low inventory in the automotive industry. However, some companies are turning to efficient freight solutions to help reduce inventory costs. Automotive shippers are opting for premium, expedited-style services to facilitate tight inventories and higher freight speeds, while some customers request transloading in port cities. In 2023, both trucking and intermodal rates have decreased significantly, and inbound container bookings to the US have rebounded
Exciting news! The Arab Brazilian Chamber of Commerce and the Egyptian Foreign Ministry have been discussing plans to establish a logistics area for grains in the Suez Canal Economic Zone. This proposed Brazilian logistics area for grains in Egypt has received positive feedback, and both parties are committed to fostering stronger economic ties and expanding investment opportunities
Mountain Air Cargo, a US-based airline, has received its first ATR 72-600 freighter! 📦 The new aircraft will increase the company's cargo capacity and versatility, providing containerized service for interstate and international charter cargo operations. As a subsidiary of AirT, Mountain Air Cargo operates 25 Cessna Caravans, 9 ATR-42s, and now 1 ATR-72-600F
Did you know that weather has a significant impact on consumer behavior? With an average of 35,000 daily decisions, retailers must consider weather conditions in their business operations. However, traditional weather forecasting methods lack scalability, leaving long-term resilience and profitability to chance. To remain competitive and weather-resilient, retailers must integrate advanced weather intelligence into their business processes. Discover how Tomorrow.io's weather intelligence technology can help retailers adapt at scale and optimize their operations
Uber may consider selling or spinning off Uber Freight after the company's revenue decreased by 43% YoY to $7 billion in Q4 2022, and EBITDA turned negative. An IPO would be likely if Uber Freight is spun off, making it the first publicly traded digital brokerage firm. According to an analyst at Bank of America Merrill Lynch, Uber Freight could fetch approximately $7.85 billion if sold, but comparisons to other companies' valuations are tenuous. Uber Freight recently reduced its workforce by 3%, laying off approximately 150 positions in the brokerage division
DHL Global Forwarding reported an 18.7% increase in airfreight revenues, despite a decrease in volumes, reaching €10.4bn. However, the air business performance weakened throughout the year. Despite this, DHL experienced an increase of 32.3% YoY to €30.2bn in revenue, while earnings before interest and tax rose by 77.4% to €2.3bn
Lowe's is taking a distinctive approach to inventory management and distribution efficiency by investing $1.7 billion in new "import distribution centers" across the US to store seasonal and outdoor living products until demand arises. Withholding merchandise along the supply chain until necessary allows Lowe's to release capacity in other logistics facilities and avoid marking down inventory in stores where there isn't demand
Good news for the air cargo market! Recent reports suggest a slight improvement, thanks to China's production expansion. The Baltic Air Freight Index rose by 3.5% during the week of March 6. With China's reopening and summer season approaching, the market could be close to bottoming out
Wing, Alphabet's drone delivery division, has developed a blueprint for autonomous urban drone delivery networks! The Wing Delivery Network will resemble last-mile delivery vans, with drones picking up and delivering orders and charging within the delivery network. This innovative solution aims to make drone delivery as easy as using DoorDash or Uber Eats, minus the traffic and emissions.
Warp, a middle-mile FreightTech company, has introduced DirectFresh, a new platform for perishable shippers that facilitates direct shipping of fresh freight like frozen meat and ice cream to stores within hours. The service leverages a network of carrier partners and temperature-controlled crossdocks and is ideal for businesses in the food industry and specialty retailers. Warp aims to prevent supply chains from bypassing the middleman and provide real-time temperature data to shippers through its partnership with ShipRec
Cathay Pacific reported a 16.6% decline in cargo revenues to HK$26.9bn in 2022 due to COVID-19 restrictions, which resulted in a 29.8% decrease in cargo revenue tonne kms. However, the company aims to have cargo capacity back up to 85% of pre-pandemic levels by the end of this year. The carrier is expanding Hong Kong International Airport with a third runway and building links with the Greater Bay Area. Despite these challenges, the airline swung to an operating profit of HK$3.5bn in 2022, with revenues surging 12%
Despite ongoing economic challenges, global air freight demand decreased by 14.9% in January 2023 compared to the previous year, according to the International Air Transport Association. However, available cargo tonne-kilometers and international cargo capacity increased. Willie Walsh, IATA Director-General, is cautiously optimistic due to higher yields and stabilizing production conditions in China. Latin American carriers had the "strongest performance," with a 4.6% increase in cargo volumes and a 34.4% increase in capacity
Check out Ford's new advertisement for the "Ford Explorer Men's Only Edition," which may seem like a stereotypical marketing ploy at first, but it's actually a tribute to women's contributions to the automobile industry. The ad highlights significant contributions made by women to improve cars, including the rearview mirror and GPS system.
Global logistics giant, Ceva Logistics, announces layoffs of 142 employees in Tennessee due to changes in customers' operations. However, affected employees will be offered positions on other shifts. Learn more about the industry's volatility and Ceva Logistics' pledge to support its employees in this transition
Cummins rebrands its New Power division to Accelera and invests $900 million in zero-emission technologies. The division will focus on creating batteries, hydrogen fuel cells, electronic axles, and more. The rebranding supports Cummins' Destination Zero initiative to produce only zero-emission products by 2050. Accelera is now a sub-brand of the Cummins brand and distinguishes itself from other business segments. The company already announced two new business ventures, including the acceleration of electric school bus production with Blue Bird Corp.
Air Europa Cargo and CargoAi have teamed up to launch an e-booking platform in mid-2023. Freight forwarders can search, book, track and pay for shipments in one interface using CargoGATE, CargoWALLET, and Cargo2ZERO. The platform is expected to increase customer loyalty by providing a user-friendly booking process. The partnership also allows Air Europa Cargo to be booked on CargoMART and to be displayed to over 8,000 forwarders.
Looking for an alternative to the congested Chicago O'Hare hub? Milwaukee Mitchell International Airport (MKE) has you covered! MKE is building a new South Cargo Logistics Hub with 74 docks, 99 trailer slots, and 288,000 square feet of space. This project will provide cargo tenants with uncongested airspace, connectivity to major cities, and greater flexibility. The new facility is expected to be ready in the second half of 2024.
Exciting news! Overhaul has secured $73 million in funding to support their risk management solutions for in-transit commodities and the purchase of security services provider SensiGuard. The new funding will support product development for both companies, with a focus on real-time visibility and responsive risk management. Overhaul has recovered millions of dollars in cargo value for their clients and prevented millions more in cargo loss through their interventions and recoveries. With the purchase of SensiGuard, Overhaul's global footprint will expand and they predict tracking over $1 trillion in cargo by 2023
Hydrogen could be the future energy source for heavy-duty trucks! Learn about the increasing focus on hydrogen in the energy industry and how it could benefit the trucking industry. Plus, get insights from experts at CERAWeek by S&P Global and find out what Amazon is planning for the future
Transportation costs hit an all-time low in February! According to a Logistics Managers' Index study, transportation expenses scored 36.1, falling 5.9 percentage points from January. The study linked the lower rate to the consumer spending hangover from the US holidays, and Chinese New Year import delays. Read on to find out more about the survey's insights on inventory levels, warehouse capacity, and more!
SriLankan Airlines is exploring partnerships, e-commerce, and digitalization to boost its export operations amid challenging air cargo market conditions. The airline's cargo unit aims to expand interline cargo agreements with other airlines to improve capacity, collaborate with online e-booking platforms to extend its market reach, and increase capacity to China to capitalize on its expanding e-commerce business. Sri Lanka's export market faces challenges from global and local factors, including the Ukraine-Russia conflict, China-US trade disruptions, decreased consumer spending due to inflation, and the fuel shortage on the island.
Nikola Corporation and Lion Electric Company are in a legal dispute over the acquisition of battery start-up Romeo Power by Nikola, which led to the termination of Lion Electric's battery supply agreement. Lion Electric has accused Nikola of tortious interference and luring away its clients. The Canadian firm has filed a civil action in the US District Court for Arizona demanding more than $75,000 in damages. The court documents stated that Nikola encouraged Romeo Power to raise prices on the contract and then canceled the deal after the acquisition. Nikola has not commented on the case yet.
Brussels Airport Company (BAC) and Changi Airport Group (CAG) have signed a Memorandum of Understanding (MOU) to collaborate on various cargo projects, such as pharmaceutical logistics, digitalization, and sustainability initiatives. One of the key projects the two airports will undertake is the Green Air Pharma Corridor study, along with other Pharma. Aero members, to establish a green lane with a set of sustainability standards. Both airports have previously worked together on initiatives, including the development of Pharma. Aero with Miami International Airport.
California has seen record-breaking winter storms, leading to the greatest snowfall in decades. The Sierra Nevada snowpack is now 177% of normal, providing 30% of the state's annual freshwater supply. The recent rainfall has refilled some reservoirs, but the largest lake in the state, Shasta Lake, remains below average. The storms have boosted snowfall in the mountains, although the state still confronts a severe groundwater shortage. It may take several wet winters for California and the West to recover from a long-term drying trend.
G. Willi-Food International Ltd. specializes in the distribution of premium kosher food items to over 1,500 clients and 3,000 retail sites worldwide. The company's operating divisions include Willi-Food in Israel and Euro European Dairies, a subsidiary that designs, produces, and distributes branded kosher dairy products. The company recently received a building permit for the construction of a new refrigerated and frozen distribution center at a cost of NIS 90 million, which will increase storage and distribution capabilities and support expansion into new categories of frozen and chilled foods. The investment will be funded by the company's own funds.
Lufthansa Cargo had an adjusted operating profit of €1.6 billion ($1.7 billion) in 2022, but management anticipates a decline in demand and yields this year, leading to a drop in profitability. The cargo sector's success can be attributed to new aircraft, airfreight experience, technological advancements, and a focus on specialty products with higher costs. Lufthansa Cargo plans to expand its fleet, enhance digital interfaces, and sustain profitability despite the decline in demand.
Check out this exciting news from container logistics startup Qualle! They've secured $1.5 million in pre-seed funding to increase container usage at U.S. and Canadian ports. Qualle is revolutionizing the way empty containers are managed within the drayage industry, making it easier for truckers and exporters to access street turn opportunities and trades. With partnerships with ocean carriers like Maersk, Hamburg Sud, and COSCO, Qualle is quickly becoming the go-to location for reliable container logistics.
Stay Ahead in the Evolving Market! Get ready for changes in finance and investment as the U.S. service sector grows. This growth is affecting the international supply chain and may lead to changes in trade. Stay informed on the latest developments and their impact on the international supply chain, import/export, and your investments. Unleash the power of information and stay ahead of the game.
The World Logistics Passport (WLP) program has recently signed agreements with the Vietnam Logistics Business Association and the UAE Embassy, marking the official launch of the program in Vietnam. This collaboration between WLP and key players in the Vietnamese logistics industry is set to revolutionize the way goods are transported both domestically and internationally, offering reduced costs, saved time, and support for businesses to eliminate trade barriers. The successful implementation of the WLP program will also facilitate trade and logistics activities between Vietnam and other countries within the program, particularly in African and Latin American markets, offering new opportunities for both importers and exporters. With Vietnam officially on board, the country is expected to play a crucial role in the WLP network as a strategic transshipment and manufacturing center in the region. This development offers great benefits for the USA's export and import industries, providing a more efficient and cost-effective shipment process.
Ameriflight has signed a letter of intent to purchase 35 air cargo drones from Sabrewing Aircraft Company to expand its expedited supply chain services. The Alpha Rhaegal-A cargo drone boasts a 2,000-pound payload capacity and can be powered by traditional and sustainable aviation fuel. The drone's vertical landing and takeoff capabilities and efficient cargo bay will allow Ameriflight to transport cargo quickly to off-airport landing zones and streamline shippers' warehouse distribution networks. The delivery of the Alpha aircraft is expected to follow Type Certification, which could be as early as December 2024. This is Ameriflight's second drone purchase agreement this year, as the company seeks to diversify its aviation services and explore new business opportunities in logistics.
FedEx has advised its customers to shift their shipment volumes from rival carrier, UPS, ahead of a potential strike this summer. To prioritize volumes, FedEx is advising customers to onboard their volumes by March 31st. The contract between UPS and the Teamsters is set to expire on July 31st, and if an agreement is not reached, a strike may occur. FedEx has warned its customers that in the event of a strike, no single carrier can absorb all of UPS' package volume. Industry experts suggest considering a multi-carrier strategy instead of relying on one major company. FedEx has stated that it will prioritize volume from its currently and actively shipping customers in the event of a demand surge. FedEx has been dealing with volume declines and has implemented cost-saving measures such as layoffs and reductions. National contract negotiations between UPS and the Teamsters will begin in April.
The article reports that Sellick Partnership, a professional services recruitment firm based in Manchester, UK, is increasing the scope of its employee appreciation event for Employee Appreciation Day. In the past, the company has provided early dismissal and lunch for its employees, but this year it is providing the entire workforce with the day off. The company's managing director, Jo Sellick, emphasizes the importance of providing a positive work environment and recognizes the role of his employees in the company's success. Sellick Partnership hopes to continue to focus on a supportive work environment that empowers its employees. The article concludes that Sellick Partnership's approach to employee appreciation and work culture should serve as an inspiration to other companies seeking to attract and retain top talent.
Investors in electric vehicle (EV) stocks were hit hard last year despite record profits. Tesla's shares fell by 65%, and investors abandoned these companies due to various factors. However, some investors are returning this year, and shares of both Tesla and BYD have appreciated. BYD has surpassed Tesla as the largest manufacturer of plug-in electric vehicles, delivering almost 1.9 million units in 2022. Warren Buffett's Berkshire Hathaway has invested in BYD since 2008. Tesla plans to boost annual production by approximately 50% for several years. Both Tesla and BYD are seen as having promising futures as electric vehicle adoption increases.
Elon Musk is set to announce details about affordable electric cars at Tesla's upcoming Investor Day in Texas. Despite past efforts to create an affordable electric vehicle, Musk has yet to produce one that is accessible to the masses. However, he has stated that Tesla is already working on a next-generation vehicle that will be significantly cheaper than current models. The cheapest Tesla car available is the Model 3 standard range version, which costs $42,990 but can be reduced with government incentives.
The Federal Railroad Administration has released a safety advisory calling on railroads to review their policies and practices for using and maintaining hot bearing wayside detectors, also known as hot box detectors. These detectors are used to measure the temperature of wheel bearings on passing trains. The advisory was issued in response to a Feb. 3 train derailment in Ohio, and suggests that mechanical failure, specifically burnt journal bearings, may have been a contributing factor. Railroads are asked to evaluate HBD data, factor in real-time trend analyses during inspections, ensure proper training and qualification of those who calibrate and maintain HBDs, and seek to improve safety culture. The FRA has identified burnt journal bearings as a possible cause of five derailments since 2021, and highlights the importance of establishing appropriate standards, processes, and procedures for the use of hot box detectors and other equipment. This information is crucial for maintaining railway safety and ensuring reliable railway operations
The Canadian manufacturing industry showed growth in February, with output and new orders reaching nine-month highs, and declining inflation pressures. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to 52.4, marking the second consecutive month of growth, and the highest level since July. New orders increased to 53.3, while output rose to 52.2. The input price index dropped to its lowest level since July 2020. The positive data was seen as a sign of the health of the Canadian manufacturing economy.
FedEx Express has announced that it will be outsourcing less urgent deliveries to third-party carriers, while focusing on urgent shipments. This change in strategy is aimed at improving the efficiency and profitability of the company's delivery services. The move is expected to offer a better customer experience for time-sensitive deliveries, while also reducing operational costs for less urgent shipments.
After announcing fourth quarter losses, the stock prices of many Chinese technology companies, notably Alibaba and NetEase, fell significantly. As a result of price wars and international tensions, the Hang Seng Tech Index has fallen 16% from its January peak. The situation has become even direr as a result of rising tensions between the United States and China over the war between Russia and Ukraine. The China equities strategist at Bank of America has said that the current status of China's internet is more top-down and influenced by geopolitics. Financial results from Li Auto, Weibo, Nio, and Bilibili are anticipated to be released next week, and many industry experts have pointed to the necessity for increased openness in the IT sector in light of the continuing threat of price wars.
Pay attention, to all carriers, and shippers! Do you find that your shipment volume slows down at West Coast gateways when the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) negotiate a new contract? We have the most recent information on the status of negotiations between the two parties, so you don't have to worry. The PMA and ILWU issued a joint statement confirming their progress and expressing confidence that they will reach an agreement on the remaining points, though they declined to provide any details. As a precaution against the possibility of a work stoppage, some of the cargo is being redirected to ports on the East Coast and Gulf Coast, where competition is high.
Looking for a game-changing new trade route that will help you save money and time on transportation? Look no further than the first cross-border road freight line between Henan and Moscow! This new Transport Internationaux Routiers (TIR) line enables vehicles with TIR certificates to cross borders between member countries with ease and at a lower cost. With 77 countries already on board, it's a fantastic opportunity to tap into the brisk China-Russia trade. The new TIR truck service complements the China-Europe freight train and allows for faster delivery times. So, don't put it off any longer! Take advantage of this innovative new trade route today and discover the possibilities it can open up for your company. Read the full article right now to learn more and get started.
Ocean Network Express (ONE), a global container shipping company, has partnered with Sony Network Communications Europe to develop a "smart container solution" for its entire fleet of shipping containers. The technology will enable the development of "technology-enabled containers" and provide real-time updates and reliable shipping data to customers. The aim is to improve the visibility and efficiency of ONE's container fleet, facilitating faster, proactive decision-making and enhancing the quality of service for customers. The partnership also aims to push the limits of logistics technology and establish a new standard of process excellence in the shipping industry. The merger of three Japanese shipping companies formed ONE in 2017. The joint venture will be a significant step towards a new era of container shipping with the help of innovative technology.
Consulting giant McKinsey & Co. is planning to eliminate around 2,000 positions in one of its largest rounds of layoffs, according to anonymous sources cited by Bloomberg News. The layoffs are expected to focus on support personnel who do not have direct contact with clients, and are part of a revamp of the way non-client-serving teams function. McKinsey's restructuring project, called "Project Magnolia," is aimed at centralizing some of the roles and helping to safeguard the remuneration pool of its partners. This comes after KPMG announced it was laying off about 2% of its American employees.
The Apple Watch is at risk of being banned from sale or importation into the United States due to patent infringement claims by medical equipment company, AliveCor. The International Trade Commission (ITC) ruled that the ECG technology in the most recent Apple products infringes on patents owned by AliveCor. The ban could take effect next week unless the Biden administration intervenes to block it. Apple has been accused of cutting out its competitors, stealing their technology, and using their platform power to scale it. The situation is currently awaiting a decision from President Biden, who has the authority to reject the ITC's decision and keep the Apple Watch on the market.
The largest Chinese online retailer, JD.com, is launching a subsidy campaign to compete with PDD Holdings' bargain shopping app. The company's founder, Richard Liu Qiangdong, has criticized upper management for not putting a discount strategy at the forefront, and March will see $1.5 billion in subsidies for JD.com's online and third-party companies. PDD's own subsidy plan has allowed the company to gain traction in China's smaller cities, where prices are particularly important to consumers. Experts predict that the e-commerce industry will see decreased revenues and a time of hyper-competition due to JD.com's competitor approach.
The meeting between Starbucks employees and Rep. Ro Khanna over allegations of union-busting and poor working conditions in Santa Clara, California, has put the company in the spotlight. Starbucks has denied the allegations, but the National Labor Relations Board has found hundreds of labor law violations. Khanna vows to fight for better working conditions and support workers' right to unionize, while some employees fear retaliation from the company. As pressure mounts on Starbucks to recognize unions, Khanna has met with the incoming CEO and plans to hold the company accountable.
While exports and manufacturing production fell in February due to the global economic slump, Japan's economic outlook remained unchanged. The government is keeping a careful watch on global monetary tightening, increasing prices, and supply limits, as well as the progress of China's application for COVID-19. While it has taken a hit recently, the economy is picking up steam thanks to growing consumer spending on things like going out to eat, taking holidays, and purchasing automobiles. The Cabinet Office has highlighted a decline in Japanese exports, which is attributable to a combination of factors, including weakening demand in the semiconductor sector and the effects of the coronavirus pandemic in China on manufacturing. Japan's exports to Asian nations have fallen as a result of these issues. According to the most recent numbers from the Cabinet Office, the economic rebound in industrial production has stagnated. Kazuo Ueda's selection as central bank governor emphasizes the difficult job of adjusting the bank's ultra-easy policies without jeopardizing the shaky economic recovery.
Walmart's stock fell after the company announced higher-than-expected earnings for the holiday quarter but provided cautious estimates for the upcoming year. The company reported 7.3% revenue growth and 8.3% growth in total comparable sales in the US. However, the company cautioned that consumers are under significant stress. Walmart's adjusted operating income rose by 6.9%, and the company forecasts future net sales growth of 2.5% to 3.0%. Walmart's shares fell by 3.89% to $140.88, with Target and Costco's shares also declining.
During the Global Government Conference in Dubai, Elon Musk warned of AI's dangers while discussing OpenAI's ChatGPT platform. Musk, who co-founded OpenAI, thinks unregulated AI growth threatens humanity. He stresses the necessity for rules and regulations to limit AI research and development, which he calls more hazardous than cars, aircraft, and medical care. Google and Microsoft are investing heavily in AI, as seen by ChatGPT's growth. Artificial intelligence has great potential for good, but it must be controlled to safeguard civilization.
The slowdown in new construction of warehouses in the US could create a shortage of industrial real estate, according to industry experts. Developers are pulling back on their building plans due to rising interest rates and declining leasing activity, potentially extending the ongoing shortfall of logistics space. The article highlights the drop in US industrial construction starts and a decrease in leasing activity, and mentions how companies like Amazon are subleasing their warehouses. It also discusses the impact of rising building and financing costs on developers' profit margins, with the Worldcraft, a logistics and real estate firm, offering insights on the situation.
The shortage of warehouse space in the US is squeezing out small businesses as large retailers and manufacturers take up the available storage capacity. This article discusses how increasing demand for warehouse space from larger retailers is driving up costs for smaller businesses, making it more difficult for them to cover their costs and stay in operation. The article also explores the impact on warehouse operators, who are under pressure to retain the biggest and most important customers, even if it means bumping smaller businesses.
Prologis, the world's largest logistics properties developer, reported strong warehouse demand in the face of an economic slowdown. Despite vacancy rates reaching near-record lows in national and Southern Californian warehouses, Prologis's Q4 revenue exceeded expectations, while earnings fell. This article discusses Prologis's outlook for the logistics properties market, the impact of the economy on it, and its Q4 performance.
"The US warehousing market is experiencing a slowdown in leasing activity as companies delay decisions on new storage and distribution space amid concerns about a potential recession. According to a new report by commercial real-estate services firm Cushman & Wakefield, the pandemic-driven boom in industrial real estate demand is cooling off. The report highlights Amazon's cutback in growth in its warehousing operations and rising vacancy rates, raising concerns about a potential glut of new warehouse space. Read on for more details and insights into the state of the US warehousing market." This description incorporates some of the key SEO keywords from the article, such as "US warehousing market," "leasing activity," "industrial real estate demand," "recession," and "Cushman & Wakefield report." It also provides a concise overview of the main points of the article and is likely to entice readers to click through to read more.
The United States and Russia are two of the world's largest economies. Russian exports to the U.S. include a wide range of products, from natural resources to industrial materials. Crude oil is the second largest Russian export to the US, accounting for over $7 billion in imports. Refined petroleum products, such as gasoline and diesel fuel, are some of the largest Russian exports.
Dell, a leading computer company, is undergoing layoffs, with plans to cut approximately 5% of its workforce due to the uncertain global economic situation and declining PC sales. The company joins a growing list of tech firms, such as Amazon, Microsoft, and Google, that have announced layoffs in response to the challenging business climate.
Buffalo Shaken by Minor Earthquake This Morning, No Major Damage Reported
The Joe Biden administration has stopped issuing licenses to US companies to export most goods to Huawei, including technology such as 4G, 5G, AI, and cloud computing. This has had a significant impact on Huawei's sales.
New Cross-Border Road Freight Line Connects Henan and Moscow in Revolutionary Trade Route
The Revolution in Logistics: How Technology is Changing the Game for Logistics Providers
Devastating News at Dell: Over 6,500 Jobs to be Cut in Massive Layoff
Tech News: Announcing the Release of CircuitPython 8.0.0!
Earthquake Rocks Buffalo, New York: Strongest in 40 Years - Latest Updates