Imports at the major retail container ports in the US have slowed down after a months-long rush to beat increased tariffs on goods from China, the National Retail Federation (NRF) said.
Author Archives: Jeffrey Goh
The air cargo industry failed to register an increase in demand in November for the first time since March 2016 in what has been described as a big disappointment. The latest figures from airline association IATA show that cargo traffic was flat in November compared with a year earlier, following 31 consecutive months of year-on-year increases.
Every January brings with it anticipation of the months to come and what they hold for airfreight logistics. Trade wars, recent WorldACD reports and the impending finale of Brexit have instilled uncertainty into the market, but the outlook for this year still suggests growth.
US intermodal volume is set to grow for the third straight year but at a slower rate than 2018, thanks to international and domestic pressures. Tariffs on Chinese goods threaten the consumer confidence that drives the railing of containerized imports and US manufacturing. Trucking will also compete for domestic freight as spot market capacity is more abundant than it was a year ago, pressuring Class I railroad operators and intermodal market companies to be more competitive with price and service.
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending January 12, 2019. For this week, total U.S. weekly rail traffic was 555,127 carloads and intermodal units, up 8.4 percent compared with the same week last year. Total carloads for the week ending January 12 were 266,240 carloads, up 10.3 percent compared with the same week in 2018, while U.S. weekly intermodal volume was 288,887 containers and trailers, up 6.8 percent compared to 2018.
Truckers Stand as One hopes to call attention to HOS reform, parking and other issues during a nationwide non-driving day in April.
Add another factor to the long list of contributing causes to the US truck driver shortages: Skills testing delays. Would-be drivers suffered a cumulative 6.4 million days of testing delays in 2016 alone, according to the Commercial Vehicle Training Association (CVTA). Those delays put 258,744 jobs on hold, at a cost of $1.4 billion to local economies, the CVTA said last week.
Data on producer prices shows that overall inflation pressure calmed further in December, weighed down again by declines in energy prices. Industry detail showed that trucking rates continued to surge, however, driven by another large gain in long-distance trucking rates.
Tom Wilson, CEO of Allstate, the insurance giant, believes an iconic element of the national character is doomed. “Americans’ love affair with the car is going to go away,” he told an audience of executives at Fortune’s Brainstorm Tech dinner on the sidelines of the Consumer Electronics Show in Las Vegas on Monday evening.
U.S. employers added the most workers since February last month and wages ticked up, providing a reassuring sign of economic strength amid concerns over stock market volatility, rising federal interest rates and a trade war with China. Non-farm payrolls grew by 312,000 jobs in December, according to numbers released Friday by the Labor Department.