Flexport CEO Ryan Petersen will hand over the reins to Amazon logistics vet Dave Clark, a move that shows the forwarder’s lure for heavyweight talent — and possibly an acknowledgement of slower-than-expected market share gains.
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Forwarders say they expect an earlier-than-usual peak season that will lift trans-Pacific spot rates that have been easing, but the trimming of retail orders and front-loading of cargo cloud the longer-term outlook for the health of Asian imports.
The cooling of trucking’s transactional spot market signals a “realignment,” not a contraction, as shippers cement contractual agreements and freight demand rises, albeit more slowly.
Container line Hapag-Lloyd has settled with the Federal Maritime Commission over improperly charging detention to a California drayage carrier in mid-2021, a bellwether case in the long-running issue of free time fee assessments.
The chassis shortage is affecting Norfolk Southern despite a 5.1 percent decline in volumes handled by the railroad between January and May compared with the same period in 2021.
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