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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.

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.

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

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

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.

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

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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. 

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.

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.

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.

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.

"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.

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.

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.

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

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.

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.

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

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.

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.”

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

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.

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.