Costco exits ship chartering with $93 million charge

Peak supply chain congestion prompted major US retailers to charter their own ships, but Costco is now unwinding that bet.

Latest US truckload, LTL PPIs surprise on the upside

Total US trucking costs rose in November, with revised US producer price index figures for truckload and LTL services indicating at least a temporary reversal in a months-long decline.

South Korean truckers vote to end 16-day strike

A growing number of drivers returned to work in recent days amid increasing financial hardship and tougher policing of back-to-work orders by the South Korean government.

Shipper demand speeding drop-and-hook ‘evolution’

Ryder System is joining the race to deploy more drop-and-hook trailer pools for shippers that need greater flexibility to reduce costs and counter supply chain disruption.

MSC lays out direct West Med connection for Indian shippers

MSC has put a heavier focus on the Indian market lately, which industry observers expect to remain resilient despite the demand challenges posed by ongoing recessionary conditions in Western economies.

Essential Reads

Freight rates in many eastbound trans-Pacific service contracts have been renegotiated lower as carriers seek to prevent customers from bailing on them to take advantage of plunging spot rates.
Sharply falling rates and demand signal an end to the extreme profitability enjoyed by carriers over the last two years, according to analysts.
The ability of ocean carriers to manage their growing supply of excess capacity is becoming weaker by the week as supply chain bottlenecks ease and global economic headwinds strengthen.
If there’s one lesson from the pandemic, it’s that working to ensure efficient container flow through US ports during sustained cargo surges must be the highest priority, whether it’s achievable or not, writes JOC’s Peter Tirschwell.
The cargo surge that began with the COVID-19 recovery in mid-2020 forced US ports to develop a new playbook to cope with the unprecedented port and inland supply chain congestion that resulted, according to APM Terminals.