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Maersk’s lagging ‘integrator’ plan now needs to winnow costs: Clerc

Michael Angell, Associate Editor | Aug 4, 2023, 3:30 PM EDT

Maersk has invested $10.5 billion in its logistics and services business to date, but results are falling behind plan after last year’s volumes evaporated.
Container linesContainer shippingForwardingSupply ChainLast mile

XPO plans to add capacity as LTL freight volumes surge

William B. Cassidy, Senior Editor | Aug 4, 2023, 2:13 PM EDT

Shipment volume at the third-largest LTL carrier in the US jumped nearly 9% in July from a year ago and 3.2% from June as shippers moved freight away from rival carrier Yellow.

Shippers in control as summer slump, surplus space cuts air cargo rates

Greg Knowler, Senior Editor Europe | Aug 4, 2023, 10:39 AM EDT

Air cargo capacity continues to grow through the summer, outpacing weak demand from major destination markets with no sign yet of any turnaround.
Air CargoAir cargo carriersAir cargo forwarding

Truckload carriers driving through lengthy freight market ‘bottom’

William B. Cassidy, Senior Editor | Aug 4, 2023, 10:20 AM EDT

US truckload carrier executives say they don’t see any signs that freight demand will pick back up until the end of 2023.

Maersk’s contract business cushions impact of ‘normalizing’ market

Greg Knowler, Senior Editor Europe | Aug 4, 2023, 9:46 AM EDT

The carrier has more than two-thirds of its volume under long-term agreements, which provided some insulation from the tumbling second-quarter spot market.
MaritimeContainer shippingContainer lines

Cosco to control largest semi-submersible fleet after deal with Guangzhou Salvage

Keith Wallis, Special Correspondent | Aug 4, 2023, 8:00 AM EDT

The joint venture will increase Cosco’s fleet to 18 heavy-lift semi-submersible vessels by the end of 2023.
Project cargoEnergy projects

HMM puts larger ships into trans-Pacific as Yang Ming signs on for slots

Michael Angell, Associate Editor | Aug 3, 2023, 1:59 PM EDT

The deal with Yang Ming follows similar slot charter agreements that HMM inked with Hapag-Lloyd in mid-July and Ocean Network Express in March.
Container linesContainer shipping

Ocean carriers, retailers failing in drive to decarbonize: Ship It Zero

Greg Knowler, Senior Editor Europe | Aug 3, 2023, 11:05 AM EDT

A report card from the environmental campaigner claimed there was distinct lack of progress from the world’s largest retailers and ocean carriers on reducing supply chain emissions.
MaritimeContainer shippingContainer lines

US LTL carriers expanding revenue, profitability despite ongoing consolidation

William B. Cassidy, Senior Editor | Aug 3, 2023, 9:55 AM EDT

The number of large US less-than-truckload carriers is shrinking, but the remaining operators are more profitable, have higher revenues and play a bigger role in customer’s supply chains.

Yellow, lenders talk bankruptcy financing as stock price surges

William B. Cassidy, Senior Editor | Aug 3, 2023, 9:31 AM EDT

Hedging and short selling made Yellow a “meme stock” early this week, but experts say rumors of a comeback are as wildly misplaced as investors’ cash.

Ocean market shows signs of life despite forecasts for muted peak season

Peter Tirschwell | Aug 3, 2023, 8:00 AM EDT

While the magnitude of peak season in any given year may have macroeconomic significance in shedding light on the strength of consumer spending and the economy overall, it is only one factor driving the market conditions that affect the physical movement of goods, writes Peter Tirschwell.
Container shippingContainer linesTrans-PacificAsia-EuropeNorth American portsInternational ports

Carriers tell FMC not to ‘weaponize’ proposed rule on refusal of service

Teri Errico Griffis, Associate Editor | Aug 2, 2023, 2:59 PM EDT

The rulemaking has underscored sharp divisions in the industry on whether the maritime regulator needs to take a heavier hand with liners following complaints by shippers.
Transport, trade and regulationContainer shippingContainer linesTrans-Pacific

Schneider goes deeper into dedicated trucking with M&M acquisition

William B. Cassidy, Senior Editor | Aug 2, 2023, 1:59 PM EDT

Schneider's acquisition of M&M Transport underscores the ongoing popularity of dedicated transportation among shippers and carriers, even in an era of excess truckload capacity. 

Yellow collapse seen hitting smaller, mid-sized LTL shippers hardest

William B. Cassidy, Senior Editor | Aug 2, 2023, 1:38 PM EDT

The loss of the third-largest US less-than-truckload carrier is hitting a broad tranche of smaller, less-sophisticated shippers hard as they struggle with volatile rate hikes, logistics providers say.
SurfaceTruckingLTLTrucking labor

Ocean carriers shift capacity as trans-Atlantic slumps: Alphaliner

Greg Knowler, Senior Editor Europe | Aug 2, 2023, 12:53 PM EDT

Ocean rates for North Europe to North America have fallen significantly below pre-pandemic levels on some trade lane indices after a wild three-year ride that took container shipping prices to record levels.
MaritimeContainer shippingContainer linesTrans-Atlantic

Hot summer turning up climate change heat on supply chains

Mark Szakonyi, Executive Editor | Aug 2, 2023, 12:47 PM EDT

Familiar reminders of the disruptions to supply chains caused by climate change, such as low water levels on the Rhine River and in the Panama Canal and wildfires in North America, are becoming more frequent and intense.
Supply ChainContainer shippingPort infrastructureRailNorth-American rail

EU carbon tax’s long reach to affect global rates, vessel deployments: analyst

Lars Jensen, CEO & Partner, Vespucci Maritime, and Journal of Commerce analyst | Aug 2, 2023, 8:00 AM EDT

Inclusion in the European Union’s emissions trading system will affect not only the cost of shipping to and from the EU, but will likely put upward pressure on pricing for cargo that doesn’t touch the EU at all, writes analyst Lars Jensen.
Container shippingContainer linesTrans-AtlanticAsia-EuropePortsTransport, trade and regulation

House bill would allow use of tax-deferred income to fund cargo equipment upgrades

Teri Errico Griffis, Associate Editor | Aug 1, 2023, 2:54 PM EDT

The National Association of Waterfront Employees says terminal operators are potentially on the hook for “tens of billions of dollars” to upgrade their cargo handling equipment and allowing them to use tax-deferred funds would increase their purchasing power.
Transport, trade and regulationNorth American portsPort infrastructure

Disruptive 2022 does little to upset global container port rankings

Eric Johnson, Senior Technology Editor | Aug 1, 2023, 11:51 AM EDT

Half of the world’s top 50 container ports grew their volumes last year while the other half saw declines, highlighting the contrasting fortunes of the global gateways.
PortsNorth American portsInternational portsSupply Chain

Tough market conditions slow DHL’s H1 profitability

Greg Knowler, Senior Editor Europe | Aug 1, 2023, 10:16 AM EDT

A challenging operating environment pulled down revenue and earnings at DHL, but the Germany-based integrator remains in a highly profitable position ahead of an uncertain second half.
Air cargo forwardingContainer shippingLTLLast mile

Europe pulls ahead of US as key lane for South America container trade

Keith Wallis, Special Correspondent | Aug 1, 2023, 8:00 AM EDT

The value of Brazil’s exports to European and Mediterranean countries is rising faster than those to the US, while Europe is also increasingly taking a greater share of Brazilian exports in percentage terms, trade figures show.
Container shippingContainer linesNorth American portsInternational ports

Western Canada port operations normal as next union contract vote looms

Bill Mongelluzzo, Senior Editor | Jul 31, 2023, 3:59 PM EDT

Negotiators for ILWU Canada and waterfront employers reached a second tentative contract agreement late Sunday after the union’s membership rejected an initial deal that had been struck last week.
MaritimeLongshore laborNorth American ports

TForce Freight employees ratify five-year contract with Teamsters

William B. Cassidy, Senior Editor | Jul 31, 2023, 12:46 PM EDT

US shippers gained some security in the LTL market as Teamsters at TForce approved a new contract with the LTL carrier.
SurfaceTruckingLTLTrucking labor

Yellow’s collapse already pushing LTL rates higher as capacity tightens

William B. Cassidy, Senior Editor | Jul 31, 2023, 11:09 AM EDT

The third-largest less-than-truckload provider in the US stopped operations Sunday, cutting into industrywide excess capacity and increasing pressure on pricing for LTL shipments. 

ONE reports sharp drop in fiscal Q1 profitability as rates, demand fall

Greg Knowler, Senior Editor Europe | Jul 31, 2023, 9:59 AM EDT

The financial results of the Singapore-based carrier reflect a return to a more normal container shipping market, albeit one characterized by weak demand from inflation-hit destination markets.
MaritimeContainer shippingContainer linesTrans-PacificAsia-Europe

ILWU Canada’s contract rejection thrusts BC ports in limbo

Mark Szakonyi, Executive Editor | Jul 29, 2023, 8:37 AM EDT

The membership of the International Longshore Warehouse Union Canada has rejected a four-year contract at the ports of Vancouver and Prince Rupert, which employers say would have included a 19.2%. compounded wage increase.
Longshore laborContainer shippingTrans-PacificNorth American portsTransport, trade and regulation

Court denies SC Ports appeal of Leatherman ruling

Michael Angell, Associate Editor | Jul 28, 2023, 5:12 PM EDT

The latest decision upheld an initial ruling by the National Labor Relations Board that allowed the International Longshoremen’s Association to sue ocean carriers that called Charleston’s Leatherman terminal.
Longshore laborContainer shippingContainer linesNorth American ports

Non-union layoffs edge Yellow closer to collapse

William B. Cassidy, Senior Editor | Jul 28, 2023, 5:08 PM EDT

Word of layoffs among non-union staff at Yellow spread Friday, and shippers report less-than-truckload (LTL) pricing is already moving higher in anticipation of a shutdown of the third-largest US LTL carrier.
SurfaceTruckingLTLTrucking labor

CMA CGM reports $1.3 billion Q2 profit despite flat volume

Greg Knowler, Senior Editor Europe | Jul 28, 2023, 1:16 PM EDT

"Normalizing" container shipping market conditions slashed more than $6 billion from CMA CGM's quarterly earnings compared with an overheated 2022, but the carrier remains in a healthy financial position.
MaritimeContainer shippingContainer lines

Long-term chartered air freight capacity depressing market: DSV

Greg Knowler, Senior Editor Europe | Jul 28, 2023, 12:26 PM EDT

Forwarders in 2021 signed long-term air cargo charters to meet rising demand for air freight resulting from an overheated ocean market, and some of those charter deals are still in place despite a widespread demand slowdown.
Air CargoAir cargo carriersAir cargo forwarding

Change management key to unlocking AI’s productivity potential for 3PLs

Eric Johnson, Senior Technology Editor | Jul 28, 2023, 10:57 AM EDT

Forwarders have an opportunity to reduce labor costs and improve margins using artificial intelligence (AI), but managing the transition away from a human workforce could prove difficult.
Logistics technologyForwardingSupply Chain

Yellow looks to sell third-party logistics subsidiary as labor talks falter 

William B. Cassidy, Senior Editor | Jul 28, 2023, 10:55 AM EDT

In its latest attempt to avert a potential bankruptcy, unionized trucking company Yellow is trying to raise funds through the sale of Yellow Logistics.
SurfaceTruckingLTLTrucking labor

FMC’s Dye offers fixes for container flow problems through US ports

Teri Errico Griffis, Associate Editor | Jul 28, 2023, 9:00 AM EDT

The FMC commissioner wants to implement uniform empty return dates and define “container availability” as when the container is available for pick up, among other proposals.
Transport, trade and regulationContainer shippingMarine terminalsNorth American portsTruckingLogistics technology

Cargo flow woes persist at India’s Mundra Port after cyclone disruption

Bency Mathew, Special Correspondent | Jul 28, 2023, 8:00 AM EDT

Concerned over the trade chaos at Mundra, India’s Container Shipping Lines Association said that vessel scheduling on services out of the country had become a major challenge for carriers.
International portsContainer shippingContainer lines

Yellow survival depends on Teamsters, customers amid possible bankruptcy

William B. Cassidy, Senior Editor | Jul 27, 2023, 2:07 PM EDT

Yellow says its talks with the Teamsters union are “ongoing,” but the less-than-truckload carrier needs to keep customers to stay alive.

Ample Southern California warehouse space awaits muted peak season

Bill Mongelluzzo, Senior Editor | Jul 27, 2023, 1:26 PM EDT

After three years of operating at full capacity, warehouses and distribution centers outside the Los Angeles-Long Beach port complex are gaining space by shedding excess inventory, and a peak season that some say will be non-existent is not expected to disrupt that newfound fluidity.
MaritimeNorth American portsSupply ChainLast mile

Local issues stymie movement on new master contract between ILA, USMX

Michael Angell, Associate Editor | Jul 27, 2023, 11:50 AM EDT

Only local unions at the ports of New York and New Jersey and Baltimore have come to tentative terms on local issues, with the ILA’s chief negotiator saying employers in other ports “have not taken the talks seriously.”
Longshore laborContainer shippingNorth American ports

Port of Oakland taps visibility provider to plug gaps in container status

Eric Johnson, Senior Technology Editor | Jul 27, 2023, 11:15 AM EDT

Technology provider QuayChain will arm the Port of Oakland with milestone data in areas near its facilities to improve its visibility portal.
North American portsPortsSupply ChainLogistics technology

ODFL focusing on capacity, cost management in LTL downcycle 

William B. Cassidy, Senior Editor | Jul 26, 2023, 2:55 PM EDT

Freight volumes were down almost 12% in the second quarter at Old Dominion Freight Line, but the less-than-truckload carrier says it will continue to reinvest in capacity.

Union Pacific appoints Jim Vena as CEO amid focus on ‘improving service’

Teri Errico Griffis, Associate Editor | Jul 26, 2023, 2:22 PM EDT

After UP’s 2022 performance failed to meet the expectations of shareholders, an activist investor called for current CEO Lance Fritz to be replaced by Vena, who had previously served as the railroad’s chief operating officer.
North-American railSurfaceRail