After a long bear market in rates since early 2022, the trans-Pacific is tightening. A combination of a mere hint of a peak season and aggressive capacity withdrawals by carriers enabled the lines to implement general rate increases on April 15, June 1 and July 1. That elevated spot rates to the U.S. West […]
Read MoreThe Caixin/S&P Global manufacturing purchasing managers’ index (PMI) for China fell to 49.2 in July from 50.5 in June, indicating a contraction in factory activity. This decline in data has posed challenges for policymakers attempting to bolster the post-Covid economic recovery in China. Supply, demand, and export orders all worsened in July, attributed to […]
Read MoreThe truck transportation industry has seen a decline in jobs over the past two months, something that hasn’t happened since the pandemic in 2020. According to figures reported by the Bureau of Labor Statistics, there were 4900 fewer jobs in July than in May for the truck transportation seasonally adjusted job sector. The revision […]
Read MoreSpot container shipping rates between Asia and the U.S. have been increasing by double digits in July, climbing for three consecutive weeks, reaching levels similar to early 2023 and late 2022. Meanwhile, shipping lines have become more disciplined at managing vessel capacity. “Typically, higher demand leads to higher capacity availability, but over the […]
Read MoreYellow, the third-largest U.S. less-than-truckload (LTL) provider, is preparing to file for bankruptcy, according to The Wall Street Journal and other news outlets. The company has been struggling for some time with debts of $1.3 billion and declining revenues and reserves. Yellow Logistics, the company’s 3PL, is up for sale and Yellow is […]
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