Maersk foresees a $2 billion increase in fuel costs due to sulfur-emissions cap; U.S. consumers might witness increase in car prices after U.S.-Mexico deal; Indonesia is seeing a tremendous growth in ecommerce; German car manufacturers are facing a battery production crisis.
Transpacific container rates post gains; United States and Mexico try to reach an agreement on the automotive trade; what Amazon did last week; Lloyd’s of London rethinks marine insurance; Mexico City’s new airport has uncertain future; tanker market faces added pressure from US-China spat.
Uber Freight is gobbling up $500M per year; the US and China hit each other with a new round of tariffs; Georgia Ports extends its inland intermodal network; Saudi Arabia’s Aramco IPO indefinitely delayed; cannabis supply chains mature; Houston is now an oil exporter.
The trade tariffs spat between the U.S. and the rest of the world is having consequences at home, as importers and consumers have to contend with the rise in product prices in the country.
Transpacific container rates continue to gain momentum; UPS files blockchain patent applications; Uber is uncertain about self-driving cars; Elon Musk doubles-down on ‘no sleep’; cautious optimism for US-China trade talks lifts equities markets; container lines expect profits in the back half of 2018.
Springfield, Illinois hits Walmart with a $50k fine for allowing truck parking. Safeway delivery drivers make history with a newly ratified union contract. We interview Senator Bob Corker about Trump’s tariffs. 162 transportation and logistics companies make the 2018 Inc. 5000 list. JP and Chad discuss all this and more on this week’s episode.
Senator Bob Corker (R-TN) spoke to FreightWaves about his efforts to rein in what he called the Trump administration’s abuse of authority in imposing tariffs on the United States’ allies and trade partners.
Canada, Mexico, China, and the European Union are among those who have instituted retaliatory tariffs on cranberry imports coming from the United States. FreightWaves spoke with Kellyanne Dignan, Ocean Spray’s Director of Global Corporate Affairs, who provided the company’s perspective on the issue.
Starting this week U.S. sanctions against Tehran on sectors like automotive and aircraft are set to return following Trump’s decision in May to pull out of the nuclear agreement with Iran.
Survey data in both the manufacturing and service sectors signal that growth continued at a slightly slower pace at the start of the 3rd quarter. Concerns over tariffs, labor shortages, and freight capacity remain issues in the economy overall, and may have contributed to the moderation in growth.
The next big thing is food. Not just food, but hot food, and not just hot food but hot–delivered–food.
NAFTA trade talks are back on the table, with Canada and Mexico hoping to ward off potential auto tariffs that could be levied by the U.S. if the agreement turns out to be unfavorable to its interests.
Small carriers enjoy 30% better retention rates than megas; container lines raise rates worldwide; truckload carriers try to capitalize on a historically favorable freight environment; Tesla begs its suppliers for cash back; LNG production is accelerating.
The rate of rejected loads coming out of LA inched upward, signaling that the July ‘mellowing’ period may be over. Container rates from China to North America’s West Coast stayed elevated for the second week in a row, and containership idle capacity is at 1%.
While there is a lot of noise surrounding tariffs and potential trade wars, it probably isn’t enough to derail the economy and the red-hot freight environment.
President Trump is pushing his trade conflict with China toward a point where neither side can back down.
Tesla wants to build a huge China plant to avoid tariffs; dry bulk carriers find favorable rate environment as countries re-source commodities; Honeywell adds an executive to reconfigure its supply chains; container rates from China to the North America spike as maritime lines take advantage of trade war fears.
Turndowns and trucks in market both deteriorated this week as shippers and carriers enjoyed their Independence Day holiday. US-China tariffs begin today; railroads worried about tariffs’ impact on carloads; air freight’s pilot shortage accelerating drone adoption; unemployment up slightly as US adds 213K jobs.
Survey data in both the manufacturing and service sectors continued to point to strong economic growth at the end of the 2nd quarter. Details in the survey responses continue to suggest that high transportation costs, labor shortages, and tariff uncertainty remain significant issues in the economy.
President Trump’s global trade war is posing a growing risk to the kind of robust job gains that the U.S. probably enjoyed again in June.
