Freight margins are razor-thin. The brokerages surviving it built nearshore teams that actually work.
Flatbed rejections hit a record 48.7%, broker numbers stop falling, and diesel jumps 30 cents overnight.
Congress is moving to put driverless 80,000-lb trucks on public roads. Plus: 13,000 California CDLs get cancelled, diesel hits a 32-year record, Florida wants $50K to get your truck back, and more.
Plus: Trump eyes Panama Canal takeback, US imports surge 12.3% YoY, Hyzon plans liquidation, and more.
Happy Monday. This is our final Monday-Wednesday-Friday newsletter until January 2nd. Today’s feature dives into Arrive Logistics’ last 2024 freight market update.
Plus:
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🐔 WHAT’S COOKIN’ IN FREIGHT
🌎 Trump “Demands” Panama Canal Be Returned to the US. President-elect Donald Trump has threatened to reclaim US control of the Panama Canal, accusing Panama of excessive fees and warning against potential Chinese influence. Speaking at AmericaFest, Trump claimed Panama violated the principles of the 1999 handover agreement and vowed to act if the canal fell into the "wrong hands." Panamanian President José Raúl Mulino defended the canal's independence, stating its fees were fair and China had no control over it, as well as stating, “Every square meter of the Panama Canal belongs to Panama and will continue to belong to Panama.” The canal is vital for global trade, handling 2.5% of seaborne commerce.
📦 US Imports Surge for 15th Month. US-bound imports rose 12.3% YoY in November, reaching 2.72 million TEU, marking the 15th consecutive month of growth, per S&P Global Market Intelligence. Despite a slight 2.5% decline from October, year-to-date imports totaled 29.59 million TEUs, up 11.9%. Strong Black Friday and Cyber Monday sales boosted apparel (up 20.4%), leisure goods (13.7%), and consumer durables (14.1%). Shipments surpassed pre-pandemic levels, reflecting ongoing recovery. November gains were upheld by delayed October shipments due to the port strikes. Analysts predict steady growth into 2025 but warn new tariffs could reduce annual import levels by up to 5%.
🚚 Maker of Hydrogen-Powered Semis, to Liquidate. Hyzon Motors, known for its hydrogen-powered semis and fuel cell technology, plans to liquidate and dissolve, pending stockholder approval, due to insufficient liquidity and failed strategic alternatives. Layoffs have been announced at its Bolingbrook, Illinois, and Troy, Michigan facilities, impacting most of its U.S. workforce. Despite efforts to cut cash burn, Hyzon’s $30.4 million in Q3 funds weren’t enough to sustain operations beyond 2024. A spinoff from Horizon Fuel Cell Technologies, Hyzon had focused on North America but faced challenges alongside other zero-emission OEMs (original equipment manufacturers). Stockholders will vote on dissolution while the company explores alternatives to closure.
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This analysis comes from Arrive Insights.
As we close out 2024, it’s becoming clear the market has rebounded from its lowest point. Let's break down the biggest takeaways from Arrive's analysis.
The supply side finally shows signs of life after two years of muted activity. Dry van and reefer tender rejections are significantly higher than in 2023, indicating tighter capacity. These patterns suggest that shippers are feeling the pinch of more constrained routing guide performance—a clear departure from last year’s looser market.
Demand
While volumes are following seasonal norms, they’re coming off a stronger base compared to 2023.
Notably, postings during the first week of December were up 116% from the last week of November. While this was largely due to fewer business days during Thanksgiving, it is still one of the largest week-over-week upticks we have seen. – Arrive Insights
Paul-Bernard Jaroslawski
The freight market is entering 2025 with a sense of cautious optimism. While supply and demand appear to be balancing, risks like tariff increases, port strikes, and continued geopolitical uncertainty are events we need to keep an eye on. The narrowing spot-contract gap makes the market more susceptible to disruptions.
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🌎 AROUND THE FREIGHT WEB
🛍️ Store Closures. Big Lots is preparing to liquidate its remaining stores following the failure of its bankruptcy restructuring plans. Similarly, Party City has filed for Chapter 11 bankruptcy, citing overwhelming debt and other struggles.
🚛 Roadrunner Rebuilds. Roadrunner CEO Chris Jamroz shares growth plans and a return to major stock exchanges after restructuring ownership, in an interview with John Kingston from FreightWaves.
📄 End of an Era? Craig Fuller analyzes FedEx’s decision to divest its nearly 30-year-old LTL supply chain unit, exploring whether returning to the company’s core focus marks a strategic move for long-term growth.
🚂 Trump Appoints FRA Head. Former President Trump appoints David Fink, a fifth-generation railroader with over 45 years of transportation experience, to lead the Federal Railroad Administration. Fink oversaw Pan Am’s acquisition by CSX as its president.
🚨 Debris Triggers Wreck. Three semi-trucks collided while swerving to avoid debris on the Texas-Louisiana border. Fortunately, no injuries were reported. The debris, allegedly a small engine, caused the accident.
🎣 THE FREIGHT CAVIAR CORNER
FREIGHT MEME OF THE DAY
Flatbed rejections hit a record 48.7%, broker numbers stop falling, and diesel jumps 30 cents overnight.
Congress is moving to put driverless 80,000-lb trucks on public roads. Plus: 13,000 California CDLs get cancelled, diesel hits a 32-year record, Florida wants $50K to get your truck back, and more.
Ryan Schreiber breaks down everything about strategy, relationships, mindset, and AI in logistics.
Oil spikes to $120 on Iran news before settling near $106. Plus: another influencer shipment gets stolen, Wyoming can now pull your truck, 24 states sue over tariffs, and more.
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