BNSF Railway’s Post

The new March Market Update is out now! This month's insights are not to be missed. 📈 Here are a few key takeaways: 🚢 Cargo volumes at the Port of Los Angeles have risen 18%, partially due to the Red Sea conflict diverting ship freighters and tankers to the West Coast. This shift will have a significant impact on carrier rates for California and other West Coast states during the upcoming produce season starting in April. 🚚 The truckload rate outlook is looking up, with a projected decrease of only 0.5% y/y in 2024 (compared to the previous forecast of 1.7% decrease), thanks to stronger projections in the spot market and a smaller projected drop in contract rates. This positive trend is expected to continue throughout the year, providing more opportunities for last-minute deals and day-of rates. Stay informed and check out the full report for more valuable insights. #MarketUpdate #Logistics #SupplyChain #axlelogistics #axle

This week: Trucking industry sees first 2024 tonnage increase, Canadian rail strike unlikely to impact essential services, & Port of Savannah sees strong growth in container volumes due to robust retail market. Stay up-to-date on the latest global supply chain and logistics news with our Freight Market Update: https://bit.ly/4ctWEhr #supplychain #radiantdelivers #freightmarketupdate

Ocean carriers are declaring "force majeure" due to the Baltimore port bridge crisis, telling logistics companies and U.S. shippers including retailers that once cargo is dropped off at alternate ports, it becomes their responsibility to pick up. Very interesting and important article ! A must read.

The #freightmarket in the #UnitedStates has been facing a serious situation from 2023 until today, with the number of carriers going bankrupt exceeding the number of carriers starting operations (information from FTR | Transportation Intelligence) In areas like Texas, truck demand is significantly lower than their supply. As logistics experts, we must: 1. Maximize cargo capacity utilization, every dollar counts. 2. Reach agreements with our sales teams where demand is scheduled reducing as much as possible last-minute calls. 3. Put on our supply chain hats and find operational efficiencies in logistics and any part of the process.

Carriers Optimistic About 2024 Peak Season as Capacity Soars Read more: - https://bit.ly/46pZbav As the 2024 container shipping peak season progresses, carriers are showing strong confidence with increased capacity deployment and reduced blank sailings. For Asia-North America West Coast, blanked capacity stands at 3.9%, while Asia-North Europe sees 5.9%, indicating a bullish outlook. "Given this strong capacity growth and the relatively low blank sailings level, it suggests that the carriers are bullish for the peak season on this trade lane," the analysis highlights. #DSTDigital #DSTnews #DailyShippingTimes #ConnectwithDST #ShippingNews #ShippingIndustry #BulkCarriers #ContainerShipping #GlobalLogistics #CargoTransportation #freightmovement #LogisticsNews #MaritimeIndustry #ShippingNews #Logistics #FreightForwarding

The tragic collapse of Baltimore’s Francis Scott Key Bridge continues to send shockwaves through supply chains, especially with the closure of the Post of Baltimore. In the face of adversity, logistics providers like Eagle Air Freight have swiftly mobilized their resources to mitigate the consequences on their clients' import and export activities. From rerouting cargo to neighboring ports like New York/New Jersey and Norfolk to optimizing trucking and transload capacity, logistics providers are leaving no stone unturned in ensuring the continuity of their services while recovery continues. As the industry grapples with the fallout, Eagle Air Freight logistics providers urge their clients and partners to stay informed and connected. https://bit.ly/49YHT5E

Larger full truck carriers continue to feel the burn as shippers press on holding their feet to the fire. In a time where supply exceeds demand, you can’t blame them for taking advantage of a better rate environment in the spot market vs. locking in capacity via contracts. All Shippers are facing the same inflationary pressures forcing them to either reduce margins or forgo sales orders. As reported by the JOC, two large full truck providers, Knight-Swift and JB Hunt, have seen contractual volumes slip as shippers are not willing to commit. As we mentioned in our prior posts, changes to the spot market will be driven by one of two things: either an increase in shipment counts or an accelerated pace of carrier exits.  #PeopleDriveLogsitics #3pl #3pls #3pllogistics #3plsolutions #transportation #transportationindustry #transportationmanagement #tld #tl #owneroperator #independent #independentcontractors #capacity #trucking #truckingindustry #truckload #benchmarking #logistics #logisticssolutions #logisticsmanagement 

In the current landscape where supply outweighs demand, larger full truck carriers are indeed feeling the squeeze as shippers assert their leverage. With an advantageous spot market offering more attractive rates compared to locking in capacity through contracts, it's understandable why shippers are opting for flexibility over commitments. This dynamic is particularly pronounced amidst the backdrop of inflationary pressures impacting all shippers, compelling them to navigate between shrinking margins and potentially sacrificing sales orders. As highlighted in the JOC's reporting, even established players like Knight-Swift and JB Hunt are experiencing dwindling contractual volumes, reflecting a broader trend of shipper reluctance to engage in long-term commitments. As previously discussed, the evolution of the spot market hinges on two primary factors: either a surge in shipment volumes or an accelerated rate of carrier departures from the market. These dynamics underscore the complex interplay between supply, demand, and strategic decision-making within the freight industry.

Numerous LTL carriers are going on offense to add real estate to their network in preparation for an expanding LTL market. We are seeing carriers take several approaches to add real estate to their network. - Carriers are buying land to build new service centers - Carriers are purchasing existing terminals from Yellow Corporation - Carriers are taking over terminals they previously leased to other carriers Through real estate expansion, the carriers are adding dock doors and space to add capacity to their networks. Now more than ever, we are seeing our carrier partners expand into areas less traveled such as Montana, Wyoming, and West Virginia. They are also adding additional service centers to more congested markets where their presence is already well known.

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