Managing freight costs in 2018 is shaping up to be a very challenging proposition. The rapid rise in freight costs are finally causing CEOs to pay attention to transportation and logistics issues. And the increased attention means that transportation and supply chain professionals are finding themselves under the microscope.
ISM said that PMI, the report’s key metric, increased 1.4% in May to 58.7 (a reading of 50 or higher indicates growth). This marks the 21st consecutive month of PMI growth, with the overall economy now having grown for 109 straight months. The May PMI reading is 1.1% even with the 12-month average of 58.7.
Through the first 21 weeks of 2018, U.S. rail carloads are up 1.2% annually at 5,414,483, and intermodal containers and trailers are up 5.9% at 5,736,006. Intermodal Carload Volumes 2018, Intermodal Report by Association of American Railroad AAR
In its report, entitled “ Breaking Ground: Market Rents Justify New Warehouse Development,” CBRE said it analyzed the gap between pro forma rents in ten United States markets, which it defines as the rental rates that developers can reasonably expect to obtain on newly built warehouses, as well as breakeven rents, which it defines as…
The investment comes in the form of roughly $90 million, which, XPO said, will go towards 770 new tractors over the course of the remainder of 2018, during which time the units will be integrated into the XPO LTL fleet. These tractors will both replace, and add to, the existing fleet, with the current total…
The company said this offering will augment operations and optimize carrier pricing by providing its customers with insights and data points culled through a combination of factors. Shipware LLC said this week it has introduced proprietary machine-learning software, Krystal AI.
For many global logistics managers, the ocean cargo container shipping industry appears to move from one crisis to another without address fundamental supply and demand business practices. Further evidence of this surfaced in recent weeks when the world’s leading vessel operators announced the introduction of “emergency” bunker surcharges in response to rising fuel costs.
With a 1.1-cent increase, the average price per gallon is now $3.288 per gallon, coming in ahead of last week’s $3.239 average, which was the highest weekly average since the week of December 29, 2014, when the weekly average came in at $3.213.
Effective Tuesday, June 4, UPS will begin to implement rate increases for large packages moving through its parcel network. These charges, which were initially announced by the company last October, call for an increase for Over Maximum Limits and the Oversize Pallet Handling Surcharge to increase by $150, from $500 to $600, as well as…
“World Cup mania” has gained momentum in Mexico, but the hidden story for the nation may really be its resurgence as trade powerhouse, says A.P. Moller-Maersk.