Kuehne+Nagel on Tuesday reported a significant decline in first-quarter revenue and profits&nbsp;as global freight markets continued their rapid descent from the record-high demand and rate levels seen early last year.&nbsp; In what Stefan Paul, CEO of Kuehne+Nagel International,&nbsp;called a “rapid normalization” of the air and ocean markets, the forwarder reported negative developments across all profit and loss lines compared with the same period last year.&nbsp; Revenue declined&nbsp;37 percent year over year to $7.6 billion; earnings before interest, taxes, depreciation, and amortization (EBITDA) was down 39 percent at $903 million; EBIT of $688 million was down 45 percent; and net earnings...

The forwarder’s CFO said ocean freight demand in the second quarter was expected to be much the same as Q1, but there were signs that stockpiling by customers in major markets was nearing an end.

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Cross-border trade with Mexico is one of the few hot spots in trucking, but fuel prices and other costs are putting more pressure on rates.

North American Class I railroads understand why shippers and logistics providers are skeptical about intermodal service, but they believe disruptions experienced in recent years won’t happen again.

Drayage companies in the state say existing incentive programs will not be enough to enable them to meet regulations that mandate a zero-emission drayage fleet by 2035.

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Inland23: US-Mexico trucking costs rising with cross-border demand

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