February and year-to-date U.S. import growth is solid, reports S&P Global Market Intelligence
March 25, 2024
February imports, at 2.44 million TEU (Twenty-Foot Equivalent Units) increased 21% compared to February 2023. And when taking into account the timing of the Lunar New Year, coupled with the impact of ongoing Red Sea and Panama Canal disruptions, the firm explained that U.S.-bound imports over the first two months of 2024, at 5.04 million TEU, posted a 14% annual increase over 2023’s 4.40 million TEU, with 2022 and 2021, at 5.21 million TEU and 5.09 million TEU, respectively.
LM Podcast Series: 3PL market update with Evan Armstrong
March 25, 2024
Themes focused on over the course of this podcast included: the state of the market; ways in which the pandemic affected 3PL operations; M&A; how 3PLs are adjusting to and leveraging nearshoring; and the economy, among other topics.
CPOs shift focus on AI from what’s possible to implementation
March 25, 2024
Annual Voices of Sourcing survey from Keelvar also finds technology use is ramping up as the workforce shrinks
FedEx fiscal third quarter earnings see gains amid ongoing volume declines
March 22, 2024
Quarterly revenue, at $21.7 billion, was off 2.3% annually, and operating income, at $1.24 billion, rose 16% annually. Earnings per share, at $3.51, topped the $3.05 from a year ago, topping Wall Street expectations of $3.30. Net income, at $879 million, was up 12% annually.
U.S. rail carload and intermodal volumes are mixed, for week ending March 16, reports AAR
March 22, 2024
Rail carloads, at 219,586, fell 0.6% annually, and intermodal containers and trailers, at 255,010, saw a 13.8% annual increase.
White House and DOT issue progress update on FLOW efforts
March 21, 2024
Two years after the White House and the U.S. Department of Transportation (DOT) formally announced the rollout of Freight Logistics Optimization Works (FLOW), which it describes as an information sharing initiative to pilot key freight information exchange between parts of the goods movement supply chain, it provided an update this week on the progress it has made since its inception.
National Retail Federation 2024 retail sales forecast calls for growth
March 21, 2024
NRF is pegging 2024 retail sales to increase between 2.5%-to-3.5% to between $5.23 trillion and $5.28 trillion. Should this forecast come to fruition, NRF said that it would top 2023 retail sales, which rose 3.6% to $5.1 trillion.
Echo Global Logistics announces expansion of cross-border services in Mexico
March 21, 2024
As key parts of this expansion, the company said that it has set up new locations in Mexico City, Monterrey, and Laredo, Texas, and also tapped 30-year logistics veteran Troy Ryley as President, Echo Mexico.