Here’s a quick recap of an unexpectedly amazing forum spotlighting Central Asian trucking companies in the U.S. Plus, we met Strong Solo Sergey in real life.
From West Coast wins to Gulf Coast fog delays, the country’s top gateways are telling very different stories.
OTR Solutions launches OTR365 Ecosystem and OTRintelligence, combining AI-powered automation with 24/7 instant funding to transform freight factoring for carriers and brokers.
The global supply chain is recovering with significant improvements in ocean freight shipping, air cargo, trucking, and warehouse capacity, which is easing inflationary pressures.
A drastic change has occurred in the global supply chain over the past 18 months. After severe disruption and inflation, excess capacity in ocean freight shipping, trucking, and other logistics components is reducing prices and backlogs. This shift is evident in the plummeting Global Supply Chain Pressure Index (GSCPI) by the New York Fed, reaching pre-pandemic levels. Every supply chain component shows signs of improvement: ocean freight costs have dropped significantly, air freight costs are decreasing, trucking rates have declined, and warehouse capacity has increased. Also, nearshoring trends and measures like the CHIPS Act are strengthening domestic manufacturing capacities. The current state of the supply chain suggests that the crisis is over, leading to deflationary pressure and providing relief to central banks, governments, and consumers.
Source: Forbes
13. Shipping rates normalizing:
— The Transcript (@TheTranscript_) July 2, 2023
"So as we step into next year, supply chain environment is more stable..." - $GIS CFO
"We've now negotiated our ocean freight rates with partners for fiscal year '24, and we've negotiated rates that are near pre-pandemic levels" - $NKE CFO pic.twitter.com/e10VyHlXjG
The freight market recovery is still stuck in neutral, so what are brokers doing instead? 76% are betting on tech, automation, and efficiency to stay ahead in 2025.
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Fed Chair Jerome Powell hints at imminent interest rate cuts to support the labor market. Markets react positively as September meeting looms.
ACT Research lowers 2025 truck forecasts as inventory hits record levels. FTR reports July Class 8 orders below expectations, signaling market shifts.
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