It is time to maximize profitability with a more streamlined customer experience

Real-time shipping updates are one of the best ways that retailers can provide a transparent and high-quality customer experience. Today, it’s common for large online retailers to let customers track and manage their orders through a portal.

While freight forwarders and logistics service providers (LSPs) are in the business of providing a great customer experience, traditionally, their shipper customers haven’t received the same level of visibility as end consumers.

“There’s a really large...

https://www.freightwaves.com/news/it-is-time-to-maximize-profitability-with-a-more-streamlined-customer-experience

EFW doubles revenue with acquisition of Superior Brokerage Services

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Estes Forwarding Worldwide (EFW) announced Thursday it will acquire forwarder Superior Brokerage...

https://www.freightwaves.com/news/efw-doubles-revenue-with-acquisition-of-superior-brokerage-services

Radiant pushes value creation for shareholders as freight market bottoms

As the freight market searches for a bottom, management from Radiant Logistics expressed optimism around future prospects Wednesday, noting the company has never been in better financial shape.

Radiant (NYSE: RLGT) reported adjusted earnings per share of 17 cents for its 2023 fiscal third quarter ended March 31. The result was 15 cents lower year over year (y/y) but ahead of consensus estimates, which ranged from 11 cents to 16 cents.

Revenue in the period was nearly half the year-ago mark at...

From windfall to sustainable profit for Kuehne+Nagel, DSV

The first-quarter earnings of global logistics giants Kuehne+Nagel and DSV showed a remarkable drop in profits that reflected the industry’s quick cooldown in the past year — with a big silver lining.

In reality, the down results were quite positive compared against historical trends and not the hyperinflated conditions of the pandemic, when supply chain disruptions and soaring goods demand sent freight rates through the roof. They also beat analysts’ expectations.

Instead of windfall profits,...

https://www.freightwaves.com/news/from-windfall-to-sustainable-profit-for-kuehne-nagel-dsv

Inflation triggers major user fee increases at FMC

WASHINGTON — The Federal Maritime Commission is raising its user fees as high as 650% over current rates to account for higher costs related to staff salaries, inflation and an electronic filing upgrade.

The FMC acknowledged the increases in a Federal Register notice posted Tuesday, noting that when it last updated user fees in 2020 (when many of its fees were adjusted downward or raised slightly), the agency used FY2019 cost data, including 2019 staff salaries.

Ocean Transportation Intermediary...

https://www.freightwaves.com/news/inflation-triggers-major-user-fee-increases-at-fmc

Shippers Face Integration Issues When Insourcing Logistics From Freight Forwarders

Credits: Alex Duffy/Unsplash
  • Despite the fact that global economics is still in turmoil, according to Eurostat data, shipping volumes of global supply chains are slowly growing.
  • For instance, the gross weight of the goods passing through the main EU port has increased by 1.2% in the first quarter of 2022 compared with the same quarter of 2021.

A recent news article published in the Youredi speaks about the integration challenges shippers encounter when insourcing logistics processes from...

https://mfame.guru/shippers-face-integration-issues-when-insourcing-logistics-from-freight-forwarders/

Check Call: Look at all those boats with Brian Glick

people gathered around a desk of computers. Check Call news and analysis for 3pls and brokers

On this week’s episode of Check Call, Brian Glick, co-founder at Chain.io, joins host Mary O’Connell to dive into all things ocean freight.

KEY QUOTES FROM GLICK:

“Work with a freight forwarder if you’ve never done it before. One of the really interesting challenges with the ocean industry is that 99% of the time products are ending up in another country, meaning you have to have expertise with other countries’ customs filings.”

“Having a relationship with an international freight forwarder...

https://www.freightwaves.com/news/check-call-look-at-all-those-boats-with-brian-glick

The urgency of leveraging technology to compete

As traditional offline and paper processes fail to keep up with demands for speed and visibility, some freight and logistics companies have incorporated new high-tech solutions to streamline operations. But many have also been hesitant. 

With changes accelerating and investment pouring in, freight forwarders need to start digitizing now to remain competitive and thrive in the imminent digitized logistics environment. 

Emerging technology leaves an “uneven” playing field

For decades, many freight...

https://www.freightwaves.com/news/the-urgency-of-leveraging-technology-to-compete

C.H. Robinson’s global forwarding unit reportedly eyed by DSV

A man looking at a computer screen at a DSV office

Danish freight forwarder DSV has been reported to be interested in C.H. Robinson’s global forwarding unit.

Reuters reported Tuesday that a small group of investors, which recently met with DSV (DSV.C.DX), were told of the company’s interest in the segment and that the business could sell for as much as $9 billion.

C.H. Robinson’s (NASDAQ: CHRW) forwarding segment has significantly outperformed its freight brokerage business, which suffered during the pandemic as contract truckload rates struggled...

https://www.freightwaves.com/news/ch-robinsons-global-forwarding-unit-reportedly-eyed-by-dsv

cargo.one helps forwarders win more air shipments and reduce time spent on bookings by 50%

In the past, a freight forwarder’s time was often spent manually searching for capacity and the best rates for clients. Fragmented communication during the booking process often created small errors that, at times, inevitably led to completely paused bookings. These dated ways of conducting business through ineffective communication have cost forwarders time and money. 

There is now a solution for booking air cargo digitally — cargo.one enables thousands of forwarders globally to view live...

https://www.freightwaves.com/news/cargoone-helps-forwarders-win-more-air-shipments-and-reduce-time-spent-on-bookings-by-50

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