Plus: Black Friday spending shifts, ATA tonnage sinks again, Midwest storms snarl freight, and more in today's newsletter.
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Plus: cargo theft during Thanksgiving week, DHL tagging with HappyRobot, correction on Operation Buckeye
Global freight forwarding market dips; headwinds from economic slump and evolving consumer trends.
The global freight forwarding market is anticipated to contract by 3.9% in 2023, hitting a market value of $366.07 billion, continuing from a 3.7% contraction in 2022. The Asia Pacific, despite being the largest market holder, witnessed the most significant dip. Challenges sprouting from a global economic downturn, shifts in consumer behavior, and an oversupply outpacing demand have steered digital forwarders to recalibrate their growth trajectories and conventional forwarders to bank on technology to uphold margins.
Plus: a Wyoming pipeline blast snarls a key freight corridor, brokers double down on U.S.–Mexico, truckload hauls shrink to record lows, and more in today’s newsletter.
Plus: 3,000 drivers sidelined over English tests, DOT fraud crackdown follows FMCSA’s data glitch, two TV cargo theft schemes, and more.
I have spoken to many candidates, and I see a common theme. Freight Fatigue Logistics folks are worn down by
C.H. Robinson’s credit rating upgrade by S&P Global highlights how cost-cutting, debt repayment, and efficiency gains are reshaping the 3PL’s financial outlook during a difficult freight recession.
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