During the pandemic, disruptions to logistical chains and a spike in purchases for home delivery demand for independent truckers soared. With shoppers returning to stores and logistical chains being ironed out, independent truckers are struggling. Shannon Pettypiece reports for NBC: In the midst of the Covid pandemic, with consumers buying up goods for their lockdown lifestyles and supply chains snarled, Arnesha Barron saw a moment to make her dream of starting her own trucking company come true. The 39-year-old single mother of three teenagers had worked for six years driving a semitruck … [Read more...]
Unexpected Jump in the Number of Used Trucks for Sale
The number of used semi-trucks for sale saw an unexpected and uncharacteristic jump in May. Scott Achelpohl reports for Fleet Owner, writing: Freight transportation is experiencing a widely recognized slowdown and truck and trailer costs to operate are higher, maintenance and repair is only costing fleets more, and even tires are much more expensive. Yet Class 8 used sales were unexpectedly up for May, even as the equipment is markedly older with higher mileage, challenging some observers of the equipment market to make sense of it all. According to the new State of the Industry: U.S. … [Read more...]
Virgin Galactic Completes First Commercial Flight
Virgin Galactic has completed its first commercial mission by taking four passengers into suborbital space and returning them safely back to Spaceport America. Space.com's Mike Wall reports: Virgin Galactic is up and running. The company aced its first-ever commercial mission today (June 29), sending four passengers to suborbital space and back. It was a landmark moment for Virgin Galactic, which has big ambitions in the final frontier. The flight lifted off from Spaceport America in New Mexico at 10:30 a.m. ET (1430 GMT) and reached suborbital space some 58 minutes later. After a few … [Read more...]
Weak Demand Forces Railroads to Lower Prices
Smaller shippers are getting a break on prices from railroads like Union Pacific and BNSF as the companies try to attract customers amid weak demand. Ari Ashe reports for Journal of Commerce: Domestic intermodal providers have lowered contract rates through the end of the year for smaller shippers, according to rate documents obtained by the Journal of Commerce, as they look to attract business to rail amid a weak demand environment. Union Pacific Railroad and COFC Logistics, a wholesaler for BNSF Railway, have updated contractual rates for low-volume shippers, known as the aggregate … [Read more...]
Labor Deal Saves West Coast Ports from Disruption
Tense negotiations have culminated in a deal for union workers employed by West Coast port employers. Paul Berger reports in The Wall Street Journal: West Coast dockworkers reached a tentative labor deal with port employers Wednesday following more than a year of contentious negotiations that have disrupted trade flows from California to Washington state. The International Longshore and Warehouse Union, which represents more than 22,000 dockworkers, and the Pacific Maritime Association, representing employers at 29 ports, said the agreement would run for six years. The tentative agreement … [Read more...]
Can Soaring Aerospace Demand Be Met This Year?
According to French jet engine manufacturer Safran, soaring demand for aerospace supplies can't be met in 2023 and likely will last until 2024. High demand from airlines is pushing supply chains beyond their capacity. The Financial Times reports: French jet engine maker Safran has warned that the “unprecedented crisis of supply” in the aerospace industry will stretch into next year as aircraft manufacturers struggle to source the parts and staff they need to keep up with resurgent demand. Safran’s chief executive Olivier Andriès told the Financial Times there had been no let up in supply … [Read more...]
West Coast Bracing for Shipping Strikes
Just when the ports on the West Coast had moved beyond the backlog spike of 2021, negotiations between the International Longshore and Warehouse Union and the Pacific Maritime Association (which negotiates for the owners and operators of the ports along the West Coast) look like they could break down. Fox Business's Eric Revell reports: Disruptions at West Coast ports, particularly the major California hubs at the Ports of Long Beach and Los Angeles, and ongoing labor negotiations have raised concerns about supply chain woes hitting the U.S. economy during the peak shipping season. The … [Read more...]
BOOMERANG: Warehouse Employee Demand Whips Back
After surging demand for warehouse employees, companies are now laying off those they hired. The Wall Street Journal's Paul Page reports: Warehousing employment fell to the lowest level in more than a year as companies slashed payrolls amid a downturn in the goods-moving economy. U.S. employers cut 11,800 warehouse and storage jobs from February to March, according to the seasonally adjusted Labor Department preliminary jobs report released Friday. Warehousing companies have reduced employment by nearly 50,000 jobs since June, when overstocked retailers started paring inventories because … [Read more...]
FedEx Mimics UPS with New Efficiency Measures
FedEx executives are streamlining the company's operations to more closely resemble those of chief competitor, UPS. Esther Fung reports for The Wall Street Journal: FedEx Corp. is combining its Express and Ground delivery units into a single business, abandoning an operating structure championed by founder Fred Smith and criticized by investors and analysts. The changes are designed to simplify interactions with customers and accelerate cost-cutting efforts, FedEx Chief Executive Raj Subramaniam said. It helps the parcel-delivery giant adjust to a business model driven by e-commerce … [Read more...]
Unemployment Rising in America’s Warehouse Capital
California's Inland Empire is known as America's warehouse capital. It's where many of the cargoes unloaded in the ports of Long Beach and Los Angeles are brought for sorting and shipping. Its economy is seen as a bellwether for America, and unemployment is rising. Augusta Saraiva and Amanda Albright report in Bloomberg: Southern California’s Inland Empire, the warehousing mecca that’s home to Amazon.com Inc. and Walmart Inc. facilities, is showing signs of trouble. Just last year, the region was hiring workers faster than California and the rest of the US — emerging as a top beneficiary … [Read more...]
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