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Jake Hoffman and Joe Lynch discuss the container payment portal and the rise of AI in freight. Jake is the Chief Technology Officer of Gnosis Freight, a logistics tech company focused on the lifecycle of a shipping container as it moves around the world.
However, there is probably one industry that most of us would not think of in this list: the cargo theft industry. According to the National Insurance Crime Bureau (NCIB), cargo theft in the United States is a $15 to $35 billion industry. Cargo Theft Tactics Cargo theft comes in many shapes and sizes.
More Resources Home The Impact of Fast Fashion Giants On Air Cargo Eytan Buchman April 25, 2024 Navigating New Horizons: The Impact of Fast Fashion on Air Cargo Rates & Dynamics The intersection of fast fashion, globalized retail e-commerce, and air cargo logistics is coming to a head with Temu and Shein’s entrance to the US market.
When the ball drops on Times Square to welcome in 2022, the employees at the Port of Long Beach will celebrate moving 9 M TEUs in imports: a 26% increase year-over-year. Freight Rates 2019-2021. As a result, companies plug along planning based on historic lead times and freight rates which as you can imagine is doomed for failure.
In September 2022, Macy’s rolled out its first-ever wood-sourcing policy for its furniture sales after more than 150 years in business. The policy follows Macy’s $5 billion commitment announced in March 2022 to become more sustainable in its policies and practices. The average value of cargo stolen in an event was $214,104.
Because of fourth quarter volume surges, ongoing congestion at ports around the world, and 2021’s (and first quarter 2022’s) limited container availability, demand has outpaced available capacity. Predictably, short-term capacity remains at a premium. This is the second post in a three-part series.
More Resources Home Navigating the Waves: Exploring Digital Booking in Ocean Logistics at TPM 2024 Judah Levine The sessions at this year’s TPM, the preeminent North American ocean freight conference, was more focused on the role of technology in ocean logistics than ever. The data shows this too.
Market volatility from the ongoing labor shortage on top of increasing consumer demand, rising fuel prices, and port and terminal congestion will continue to challenge supply chains through 2022 and beyond. 10 Freight RFP Components for Success. Company background. Introduce your company and your unique shipping needs.
UPS is seeking alternative strategies for its truck brokerage business, which has seen sales plummet amid a freight recession marked by declining rates and over capacity. More than $728 million is on the way to communities around the nation to bolster intermodal freight infrastructure. The money is coming through the U.S.
Logistics tech in 2022 has been unavoidably shaped by the two years that preceded it. The low rates that triggered Hanjin’s bankruptcy in 2017 quickly became a thing of the past, as surging demand, congestion, and a litany of global shipping catastrophes pushed ocean freight rates into the stratosphere. The Weekly Freight Update.
This follows a series of incidents in which Flex drivers, who use their own cars for deliveries, have reportedly been met with violence or threat by residents: since 2022, five Flex drivers have been shot in four different incidents and five others said they have had guns drawn on them. Bank Freight Payment Index.
The international inbound transportation service is only available to Walmart Fulfillment Services (WFS) sellers that source or manufacture goods in China, and all cargo must be shipped from Yantian, Shanghai, or Ningbo ports. Cargo imported into the U.S. Hurricane Ian, in 2022, caused $180-210 billion. from May’s 2.24
Jeff is the CEO of Tucker Company Worldwide , the oldest privately-held freight brokerage in North America, specializing in notoriously complicated freight, like temperature-controlled, oversized, and high-value, high-security shipments. Jeff Tucker and Joe Lynch discuss the Breakbulk Americas conference. About Jeff Tucker.
Mark spent over 7 years in leadership with the second largest freight brokerage in North America, Total Quality Logistics. In 2017, Mark recognized a need for logistics service providers to have better access to cost effective All-Risk Shipper’s Interest Cargo Insurance with focus on Mexico. Mark earned a B.S.,
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. The report, which analyzed 8.4
Automation, cargo tracking, robotics, and remote fleet management are all examples of how IoT can be used to harness organizational data and gain insights into key processes. DB Schenker is leveraging sensor data from cargo in transit to monitor and control high-value shipments or sensitive shipments, such as with cold chain logistics.
Last month, the company released its third annual “Brand Protection Report” and said it disposed of over 6 million counterfeit goods in 2022. 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).
In the early morning hours of April 26, at approximately 1:35am, a cargo ship leaving Baltimore Harbor struck the Francis Scott Key Bridge, triggering a catastrophic collapse of the 1.6-mile-long Walmart first announced its next-gen fulfillment center model in 2022. mile-long span. Amazon estimates it spent about $1.2
The implication for global freight beyond the now typical uncertainty is predictably elevated operational costs and soaring freight rates. This optimism is buoyed by the fact that 55% of importers have their inventories in check, anticipating a stronger freight demand in the coming year.
Faced with the challenge of limited data availability, he co-founded Vizion, an API-first solution empowering cargo owners, freight forwarders, and software providers to achieve true supply chain visibility by tracking ocean freight in near real-time.
Commercial Invoice – An IOR agent can help you to ensure an accurate valuation of your goods and to prepare your Cost, insurance, and freight (CIF) documents. SYNOPSlS: Your Supply Chain Roadmap IDC’s Predictions for 2022 and Beyond. The World in 2022: What’s on the horizon for supply chains this year?
Cargo losses escalate as thieves target cars, electronics. The Port of Oakland reported cargo in April dropped 7 percent compared to the same period a year ago due to factory and port shutdowns in China. With the reduction in cargo coming out of Shanghai, some carriers aren’t able to fully load a vessel. s CargoNet.
Thanks to container prices rising as much as 600%, money that could be used for advertising went to freight companies instead. Wildfires, mudslides, and flooding delayed lumber shipments, leading to a shortage that saw the cash market price for lumber reach $1,111 per thousand board feet in 2022 – almost triple its bottom price in August.
FedEx plans to test autonomous drone cargo delivery with Elroy Air. Air Canada wants more cargo jets 3 months after launching service. FedEx also plans to test autonomous drone cargo delivery, partnering with Elroy Air. Israel Aircraft Industries is remodeling older Air Canada passenger jets to carry heavy freight.
The Importance of Supply Chain Sustainability for 2022 and Beyond. greenhouse gas emissions can be attributed to the freight transportation sector. In 2022, many companies will be looking to localize their supply chains. the coming year may look a little different regarding sustainability. MORE FROM THIS EDITION.
Fortunately, strategic planning can help you deliver your land cargo on-time , despite the abundant labor shortages. million in March 2022. Low Land Cargo Capacity. Consumers have high expectations for order fulfillment, shipping, and delivery, and LTL can use small freight to meet these expectations. Optimize Routes.
Brian is the Founder of Port X Logistics , a transportation company that specializes in expediting containerized cargo throughout the U.S. About Brian Kempisty Brian Kempisty is the Founder of Port X Logistics, a transportation company that specializes in expediting containerized cargo throughout the U.S. and Canada. and Canada.
HP launched its new commercial Metal Jet S100 Solution in September 2022 and two months later showcased the 3D printer for the first time publicly at the Formnext exhibition in Frankfurt, Germany, along with a new John Deere production application. Amazon’s fast-shipping service can add fees for small orders.
10 Tips To Be A Successful Freight Broker! The terms freight broker and freight agent are often confused in the cargo and shipping sector. Freight brokers and agents contribute significantly to optimizing the shipping process. So, what are the differences and similarities between a freight broker and freight agent?
The team behind Energy Observer wants to gain better information for commercial cargo vessels by vastly increasing the size of the ship. LogiSYM Supply Chain Magazine – April 2022. The original gyro style wind energy installations were replaced with a wing type sail in 2019. This vessel can’t get in the ocean quick enough.
network this year after its initial success at select facilities in 2022. network this year after its initial success at select facilities in 2022. Some companies expect to cut ocean-freight rates by half or more, which in turn could allow retailers to slow or stop price increases for goods. West Coast was $2,618 as of Feb.
Between February 2018 and May 2022, revenue skyrocketed by 1600%. The platform boasts a network of over 22,000 vetted drivers who own and operate their own vehicles, utilizing their time and excess cargo capacity to earn extra income. Starting May of 2023, Steve joined FRAYT as their Vice President of Partnerships.
The company disclosed the total of single-use plastic across global operations for the first time in 2022 after investors sought more details on plans to reduce waste. The company said it took a $157 million impairment charge for permanently deactivating the 757 cargo jets along with seven engines. percent decrease from 2021.
The countdown is officially on for the 2022 World Cup in Qatar. Operators of warehouses, trucking fleets and other freight businesses say they are paring their payroll growth as the supply-chain disruptions that led to tens of thousands of new jobs recede. shift to electric heavy-duty vehicles. trade with Asia.
More Resources Home September 20, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. compared to 2022 while capacity will climb 8%.
Featuring Our Top 16 Articles on Freight and Logistics! In shipping and logistics, building strong relationships with your freight or carrier company is often underestimated. Moreover, finding a reputable freight company that ticks all the boxes of what you’re looking for can often be a considerable challenge.
When moving cargo, can shipments be consolidated more? As you make plans for 2022, I urge you to consider if you can be the catalyst in your organization to propose solutions that are green and sustainable. Can packaging have less weight? Can pallets be built higher? Can pallets weigh less? Can the warehouse be skipped altogether!?
If we take a closer look, we can see that global aviation, including domestic and international; passenger and freight accounts for 2.5% Today about 90% of non-bulk cargo worldwide is transported by a container. LogiSYM Supply Chain Magazine – March 2022. But to be honest, the shipping industry is as much of a culprit.
Qatar failing to keep its climate pledge for the 2022 World Cup Before the start of the 2022 FIFA World Cup, Qatar pledged to make this the first carbon neutral…
came from trucks carrying cargo. The goal of this collaborative innovation is to move containers at the speed of air cargo through a vacuum tube, an enclosed highly reliable system, connecting ports with their hinterland in a new way, reducing time and carbon emissions. Most of this, 45.1 About the Authors. Automation in 45 Minutes!
When the ball drops on Times Square to welcome in 2022, the employees at the Port of Long Beach will celebrate moving 9 M TEUs in imports: a 26% increase in year-over-year volume. Freight Rates 2019-2021. I find no agency or entity trying to find a holistic solution to global logistics. We are awash in a sea of self-interest.
Featuring Our Top 16 Articles on Freight and Logistics! Freight forecasting is a method of predicting what the freight market will do in the days, months, and years to come. If you want to understand the significance of freight demand modeling, you should understand a bit about the job of a freight forecaster.
In today’s hyper-connected world, freight forwarding can seem like a lone holdout. Combining this pre-existing state of freight with the events of the past two-plus years of pandemic-related disruptions and grasping the micro- and macro-dynamics becomes even harder. What’s causing the delays in freight shipments?
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