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Transportation and logistics services provider FedEx announced this week that it has decided to spin off its FedEx Freight business unit. The freight unit was established in 2001, when FedEx Corporation acquired and merged the assets of American Freightways , Viking Freight and Watkins Motor Lines.
and global ports, with highly complex air freight systems suffering the heaviest hit, as global airlines grounded flights. and global ports, with highly complex air freight systems suffering the heaviest hit, as global airlines grounded flights. And now on to this week’s logistics news.
Cargo ships lost 661 containers at sea in 2022, down from the 15-year average of 1,566 lost per year, according to the latest figures from the World Shipping Council (WSC). Some major ocean carriers have also announced new fees for goods shipped on the route as of June 1 in response to the canal restrictions.
Increased Shipping Costs, Delays, and Transportation Issues. Dealing with the Shipping Container Crisis. Thanks to container prices rising as much as 600%, money that could be used for advertising went to freight companies instead. Following a March 2022 surge of Covid-19 in Shanghai, shipping company A.P. Accenture ).
The proposed vehicle and engine performance standards would cover model years 2021-2027, and apply to semi-trucks, large pickup trucks and vans, and all types and sizes of buses and work trucks. Why aren’t more shippers engaged in collaborative shipping? billion barrels over the lifetime of the vehicles sold under the program.
Maritime shipping has long been the backbone of international trade, facilitating the transport of goods across oceans and connecting distant markets. However, the efficiency of maritime shipping has always been—and continues to be—dependent on interdependent variables. million-strong fleet into smart containers.
By contrast, the third-party logistics model is where a manufacturer retains oversight of its supply chain but outsources such processes as warehousing, shipping, packing, and distribution to a 3PL provider. million USD by 2027, growing at a CAGR of 4.5 percent between 2020 and 2027. What is 3PL? million USD in 2019.
They are better able to adjust pricing models to reflect consumers’ demands, including less packaging for smaller shipments, a key characteristic of dimensional pricing, and it enables record-low freightshipping. . To keep up with demand predictions by 2027, more than 97,000 new drivers will need to enter the industry annually.
freight and logistics industry continues to mitigate recessionary conditions including the April 2023 Logistics Manager Index reaching its lowest level lowest level in six years and one-half years. freight, logistics and parcel movement industry. The firm’s Maersk Line container shipping business unit reported net profit of $2.3
In fact, such KPIs are so crucial right now that the supply chain analytics market is expected to reach nearly $17 billion by 2027 as companies ramp up their supply chain performance management initiatives. Logistics / Shipping Metrics That. Freight Bill Accuracy. Freight Costs as a Percentage of Sales.
Not Torc, their then CEO said it would be 2027 by the earliest. In 2027, Torc/Daimler executives told the participants at the Albuquerque event that they were a conservative, German-owned company and the last thing they wanted to do was overpromise. Now, the CEO of Torc, Peter Schmidt, told me that the 2027 launch date looks valid.
calls for reducing the number of Ground and Express stations by 100 over the next 3-5 years; creating a common IT infrastructure for key operational elements like scanning and sorting by 2024; and eliminating more than 10% of the collective routes of both divisions by 2027. The integration plan, called Network 2.0, “(Network 2.0)
billion by 2027. . A logistics provider equipped with the latest shipping technology can make distribution network suggestions that can reduce overall spend and improve on-time percentages, like consolidation programs or warehouse reconfigurations. . Did you know…? . The pet care industry is expected to reach $358.62
The trucking industry moves approximately two-thirds of all goods shipped in the United States. Transfer-hub: Under this model, autonomous trucks will haul freight across long distances on interstate routes , from exit to exit. This wave is predicted to begin after 2027. The Future of Autonomous Tech in Self-Driving Trucks.
On June 29, FedEx revealed “Network 2.0”, a new long-term strategy focused on collaborating with FedEx’s three previously separate entities: FedEx Express, FedEx Freight, and FedEx Ground. The declined rates have yet to impact current freight rates so high that many wish they were freight invoice errors.
On-demand crowdsourcing is seen as one potential revolutioniser for shipping, using an Uber or AirBnB-like model but for final mile delivery. million by 2027 , at a CAGR of 25.8%. Customers expect better, faster shipping, while keeping prices as low as possible and improving sustainability. But the question is: which practices?
Rickenbacker International Airport was a bustling hub for air freight well before the pandemic—a day’s truck drive to half of the U.S. International freight being unloaded at Rickenbacker airport. a digital freight forwarder. Share of Global Shipping Vessels Arriving on Time. population, so the slogan goes. in the U.K.
Faster shipping: By operating multiple warehouses, you can keep your stock closer to customers than were you to operate just a central warehouse. This means faster shipping times, and lower transport costs. Reduced carbon footprint: Cutting your freight times doesn’t just save money, it lowers your impact on the environment too.
14706 to the Interstate Commerce Act limits shippers’ liability and allows logistics providers to operate with the knowledge that federal law holds responsible parties accountable for freight loss. . In the case of freight damage caused by increasingly common natural disasters, theCarmack Amendment 49 U.S.C. Act of Default or Shipper.
The trucking industry moves approximately two-thirds of all goods shipped in the United States. Transfer-hub: Under this model, autonomous trucks will haul freight across long distances on interstate routes , from exit to exit. This wave is predicted to begin after 2027. The Future of Autonomous Tech in Self-Driving Trucks.
We expressed that viewpoint not only because of our sense of the implications for both parties, but because of our belief that there are significant broader implications at play for the parcel shipping and transportation segment in the months to come. This effort is bound to increase labor tensions.
With last-mile delivery costs contributing to more than 50% of total shipping costs, the rising expectations in home delivery increases the risk of encountering inefficiencies. Transportation activities (aviation, rail, shipping, heavy and light trucking) are responsible for approximately 17% of global greenhouse gas (GHG) emissions.
According to the American Trucking Associations, freight tonnage hauled by trucks would increase by 27% (between 2016 and 2027). With global retail sales to touch $27 trillion by 2020, it just adds to the problems of high volume and restricted resources.
With the revenue from eCommerce retail expected to surpass $1,700 billion by 2027 in the US alone, making sure your warehouse is up to par with the increasing demand makes perfect business sense. Clearly, warehouse automation is completely transforming how warehouses operate.
trillion by 2027. As Denmark-based carrier Maersk looks to expand air cargo capabilities around the globe, North American airports see increased investment from the multimodal shipping giant. Freight Rail Labor Action Could Occur by Late November. The prospect of a freight rail strike remains an unwelcome possibility for U.S.
It has forced ships to reroute around the southern tip of Africa, driving up the cost for vessels for the longer voyage, though rates are still far below pandemic levels reached in 2021. Two years later, it committed to importing $10 billion of goods from India each year by 2027. They would then be able to tackle a more advanced task.
After the peak-holiday season, there was also hope for a return to the usual shipping rates. Drilling further, leveraging these kinds of analytics is at the top-of-mind for shippers when it comes to lowering their shipping costs. Billion by 2027, growing at a CAGR of 17.9% from 2020 to 2027.”.
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