Spot 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 “actively” engaged […]
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Read MoreUS Forwarders Face Possible Supply Chain Disruptions from UPS and Yellow Freight Crises US forwarders are warned to get ready for the impact of possible strike action at UPS, and the financial troubles of Yellow Freight, one of the biggest U.S. LTL trucking companies, which is at risk of going bankrupt. Brandon Fried, executive director […]
Read MoreUPS and union representatives are scheduled to resume talks in the coming week as the threat of an impending strike looms, with less than two weeks remaining before the current deal with the Teamsters union expires on July 31. Express delivery company UPS is urging swift action to reach a resolution with the Teamsters union, […]
Read MoreRecent data reveals a decrease in sales for both grocery stores and department stores, indicating a potential shift in consumer spending patterns. Particularly, sales at service stations have experienced a 1.4% drop attributed to the impact of lower gasoline prices. On the other hand, there was a slight 0.1% increase in sales at food services […]
Read MoreThe demand for the Asia-North Europe trade is weak and uneven, so carriers are adjusting their sailings and port calls to cope with the situation. A carrier source said they were trying to be flexible and responsive to the market needs. MSC announced today that it would cancel the next sailing of its MSC Bianca […]
Read MoreFreight forwarders in the United States have been warned to prepare for potential strike action at UPS and the looming insolvency of major trucking firm Yellow Freight. The situation has raised concerns over the impact it may have on supply chains and the flow of goods across the country. Brandon Fried, the executive director of […]
Read MoreThe National Retail Federation (NRF) has released insights projecting unprecedented consumer spending on back-to-school and college items for the upcoming summer. According to the NRF’s annual survey conducted by Prosper Insights & Analytics, back-to-school spending is estimated to reach $41.5 billion this year, surpassing last year’s $36.9 billion and the previous record of $37.1 billion […]
Read MoreIn the first four months of this year, Mexico has once again solidified its position as America’s top trading partner, facilitating a staggering $263 billion worth of goods exchanged between the two nations. This robust trade with Mexico accounted for 15.4% of goods exported and imported by the US, surpassing trade totals with Canada and […]
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