Is it necessary to understand the Extended Supply Chains that your company has that are both upstream and downstream from its Tier 1 suppliers and clients? True is the response.
Utilizing last-mile delivery for retail services has various benefits. However, many in the shipping sector still ponder the necessity of last-mile delivery for retail. Current service patterns should be examined to determine where they fall short of current consumer and market expectations.
The number of container ships in U.S. coastal waters has dropped by 51% from last year, according to Bloomberg. IHS Markit data also revealed a significant decrease in weekly port calls in US waters. A slowdown in global consumer demand and harsh weather could be contributing factors
National carriers, UPS Inc. and FedEx Corp. are reportedly taking market share from regional parcel delivery rivals by offering price discounts. While this is not new, the aggressiveness of the national carriers is said to be different from the past. ShipMatrix President, Satish Jindel, believes that overcapacity rules the parcel market. This is evident in the fact that the US Postal Service only processes 55% of its daily capacity of 60 million parcels. Since the pandemic, the market has become saturated with dozens of parcel carriers of different sizes, raising consumer familiarity concerns as the majority of the new carriers are unknown to them. As shippers return more packages to national carriers, they are eligible for discounts that they may have forfeited when they fled, and this increases the incentive to switch carriers. A Moody's report recently downgraded the debt ratings of OnTrac, the largest regional carrier in the US, because of excess capacity, weak demand, and high financial leverage.
Freightos has reduced its growth forecast due to lower trade demand and weak freight rates. The company now expects revenue to grow between 15% and 21% this year over 2022, compared to its previous 87% growth forecast. The company's revenue projection for 2023 is between $22.3 million and $23.6 million, a significant drop from its June 2022 projection for this year of $39.5 million. Freightos went public in January and operates like an Expedia or Travelocity for freight, enabling companies to compare prices and book space on planes and ships. Despite the slowdown in the global freight market, the platform continues to add carriers and sign up new shipping customers.
At S&P Global by CERAWeek, discussions on hydrogen-based solutions for heavy-duty trucks emphasized the need for collaboration in the hydrogen supply chain to make it commercially viable. While hydrogen has potential as a fuel due to its strengths, such as fuel cell stack predictability and endurance, initial infrastructure development costs present a significant barrier. Hydrogen was highlighted as a potential alternative to battery-powered electric vehicles, but challenges lie in adapting to the space-restrictive structures of commercial vehicles like trucks. Despite initial expenses, demand for hydrogen is high, and companies with zero-carbon goals face pressure to decarbonize. OEMs have introduced fuel cell products faster than anticipated, and the required market triggers are imminent, according to fuel cell manufacturers.
Estes Forwarding Worldwide (EFW), a domestic and international freight forwarder, has acquired Legacy Logistics, a trade show logistics and exhibit services provider. Legacy provides transportation, warehousing, and storage services for trade shows, events, and retail display setups. The acquisition expands EFW's existing events business and offers Legacy's customers access to EFW's national network of warehouses and freight forwarding services. Legacy will now operate under the banner of EFW Tradeshow, and its CEO will continue to serve as senior vice president. The acquisition enables EFW to enhance its trade show solutions for clients, and the cultural compatibility between EFW and Legacy is expected to be beneficial to both parties' clients and employees. Financial terms of the transaction are undisclosed.
If you're an Amazon shopper who needs to keep track of your purchases, it's easy to create a detailed record of all your orders. Simply log in to your Amazon account and access your Order History Reports, where you can select the store section, time period, and report title. Once you've generated the report, you can download it and use it to track your expenses or process returns and refunds. The report includes a variety of information for each transaction, such as the order date, price, payment method, and shipping date. By keeping a record of your Amazon purchases, you can stay organized and better manage your orders.
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