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Ports of Los Angeles and Long Beach post strong June volumes but tariff concerns remain intact
POLB handled 752,188 (TEU) Twenty-Foot Equivalent Units in June, which stands as the busiest volume month in its history and marks a 14.2% annual improvement. The previous best month was July 2017, which June 2018 surpassed by 4.4%. POLA handled 723,141 TEU in June, which was down 1.1% annually. But even with the decline, POLA…
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Ahead of tariff crunch, U.S.-bound import numbers see strong June gains, reports Panjiva
With global shippers looking to get in front of the beginning phase of recently implemented tariffs, United States-bound waterborne shipments saw gains in June, according to data recently released by global trade intelligence firm Panjiva. June shipments, at 1,025,643, were up 6.5% annually. This represents another month of growth, with the exception of a 0.2%…
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Global prime logistics rents remain on an upswing, says CBRE report
Given the strong economic outlook at the moment, it stands to reason that there have been various subsequent takeaways. One key one was highlighted in a report recently issued by commercial real estate firm CBRE, whose main thesis was that for the year ending March 31, global prime logistics rents saw gains, due, in large…
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June retail sales post gains, report Commerce and NRF
Commerce reported that June retail sales, at $506.8 billion, were up 0.5% annually and were ahead of May’s revised $504.3 billion. NRF reported that June retail sales, which exclude sales from automobiles, gas stations, and restaurants, with sales up 4.2% annually on an unadjusted basis.
Port of Oakland’s monthly volume report reflects trade war tensions
Oakland handled the equivalent of 87,207 20-foot import containers in June. That beat the previous monthly record of 84,835 containers set last July.
New tentative five-year agreement with Teamsters at UPS Freight
It’s been a summer of labor success at United Parcel Service. Besides scoring a “handshake agreement” covering 275,000 Teamsters at its small parcel unit, UPS also has a tentative deal for a new five-year Master UPS Freight Agreement that covers about 11,000 Teamsters-represented UPS Freight (formerly Overnite Transportation).
AAR reports annual volume gains for week ending July 7
Rail carloads, at 240,514, were up 5.4% annually, which is below the week ending June 30 at 270,916 and the week ending June 23 at 268,464.
SEKO announces plans for new UK-based airfreight and omni-parcel services facility
Chicago-based third-party logistics (3PL) services provider SEKO Logistics recently announced it is investing in a new flagship airfreight and omni-parcel services facility in close proximity to London Heathrow airport. The company said that this investment is a reflection of its confidence in the “continued cross-border growth of British bands globally,” adding that revenues in the…
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Note to CEOs (Part 3): Committed to reducing your rising freight costs? You must be kidding!
In case you missed my transportation notes to CEOs Part 1 (Don’t fail to plan!) and Part 2 (Your people need you!), let me set the stage: Since the beginning of 2018, the Wall Street Journal has run over 70 articles about how the current freight market is negatively impacting supply chains and corporate earnings.…
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