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26
Apr
Growing Freight Fraud Is Peeling Millions From the U.S. Shipping Market
Freight fraud is spreading across trucking networks as tech-savvy operators impersonating middlemen skim off payments for shipping goods that can total thousands of dollars, industry executives say. The fraudulent tactic, long a nagging problem in trucking, has gained momentum in […]
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23
Apr
Trans-Atlantic Westbound Demand Fell Sharply In March Amid Rate Decline
Container volume on the westbound trans-Atlantic fell sharply in March, with forwarders and analysts expecting the steadily weakening demand to undermine the trade lane’s historically strong second quarter. An abundance of capacity and improving schedule reliability through the first quarter […]
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17
Apr
Air Cargo Market Weakens As Capacity Floods Into Service on Major Trades
Air cargo capacity continues to flood into service as airlines reactivate passenger flights and freighter operators launch new services between the major markets of Asia, the US, and Europe. In addition to long-haul passenger aircraft with significant belly freight capacity […]
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16
Apr
Shipper Savings To Rocket in 2023 at Expense of Carrier Profits
Sharply correcting container shipping markets will result in plunging profitability for carriers this year, but massive savings in transport costs for importers and exporters in major markets, according to analysts. A rate collapse on major trades out of Asia during […]
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16
Apr
Dynamic Pricing is Slowly Making its Way Into Parcel Delivery
Tusk Logistics co-founder and CEO Ben Emmrich longs for a day when parcel shipping rates adjust dynamically based on supply and demand. “It’s absurd that our industry hasn’t been able to get there yet in a meaningful way,” he said. […]
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15
Apr
Terminals Can’t Issue Detention Fees if Ports Closed
What began as a $510 small claims case brought by a trucking company has evolved into what some are calling a precedent-setting case, as the Federal Maritime Commission ruled that marine terminal operators may not impose detention and demurrage charges on days […]
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10
Apr
Mighty Fall: Container Line Profits Plummet From Historic Peak
China’s Cosco Group — the world’s fourth-largest container line operator with an 11% market share — finally closed its books on 2022 just as the first quarter of 2023 came to an end. The Chinese company’s results highlight the steep decline that […]
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09
Apr
Sweeping Changes To Classification System Took Effect April 8th
Making the National Motor Freight Classification® (NMFC®) system as easy as possible for the industry to use is a high priority here at the National Motor Freight Traffic Association (NMFTA). That is why NMFTA’s Freight Classification Development Council (FCDC) took […]
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04
Apr
Warehouses Find Insulation From U.S. Banking Crisis
Industrial real-estate executives expect only limited fallout from the turmoil that has engulfed the U.S. banking sector, even as warehouse developers grapple with the rising interest rates and weakening demand that are dampening construction following a period of historic growth. “The availability […]
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03
Apr
Dispute Over Restructuring Between Yellow, Teamsters Gets More Strident
The conflict between the Teamsters union and Yellow, the largest unionized US trucking operator, is getting hotter, with Teamsters general president Sean O’Brien referring to the carrier’s planned merger of its regional and national operations in the eastern US as […]
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