With maritime traffic in the Suez Canal still being held up by the Ever Given, downstream effects are already visible, from freight delays to issues with oil tankers. On this episode of Midday Market Update, Kaylee Nix and Michael Vincent dive into what’s happening and what it could mean down the line for freight.
The Suez crisis topped this episode’s headlines, with a piece by FreightWaves’ Greg Miller detailing the implications of the blockage on the tanker business. Next, FreightWaves writer
On this episode of Midday Market Update, Kaylee Nix and Michael Vincent got a deep look at the state of the raw material market and an update on Containergeddon 2.0.
First in headlines, Andrew Cox brought news of acquisitions by FreightWaves and truckstop.com, a proposed acquisition by Canadian Pacific Railway, and another look at the ocean rate crisis as contract season rolls along.
Vincent and Nix welcomed IntelliTrans President Ken Sherman, who discussed the state of raw material shipping...
https://s29755.pcdn.co/news/first-mile-markets-midday-market-update
In the past, the annual choreographed contract negotiations between ocean carriers and shippers were a bit like a high school prom. You didn’t particularly care for your date, but you didn’t want to miss the dance.
That’s not the case anymore, according to Charles van der Steene, the head of sales in North America for A.P. Møller – Maersk, who says the world’s largest ocean carrier is more and more entering into long-term committed relationships with shippers.
“We’ve been very deliberate since...
https://s29755.pcdn.co/news/seismic-shift-maersk-commits-to-long-term-relationships-with-shippers
Data is key to understanding market conditions, and on this episode of Midday Market Update, Kaylee Nix and Michael Vincent talked to a partnership mining data with artificial intelligence and a company that brings data into a usable platform.
First in headlines, Andrew Cox talked about XPO’s new logistics company announcement, the success of one maritime shipping company and what lingering port congestion could mean for the market going forward. Cox also has more about shipping delays and the...
https://s29755.pcdn.co/news/winning-the-freight-market-midday-market-update
Michael Vincent welcomed Kaylee Nix to the Midday Market Update set as his new co-host for this episode. They explored the failures of Texas’ energy infrastructure during February’s winter storm and the world of ocean shipping contracts through the eyes of the New York Shipping Exchange (NYSHEX).
In headlines, Andrew Cox highlighted a deep view of the LTL freight market and talked about two Canadian trucking companies shutting down, as well as what union decertification means for a California...
https://s29755.pcdn.co/news/texas-power-and-two-way-contracts-midday-market-update
Headlines
The California port crisis is shattering records when compared to the 2015 congestion caused by contract negotiations with unionized dockworkers. The 2021 crisis has lasted longer and involved more freight than in 2015 and it still is expected to last into summer.
Canada’s electronic logging device (ELD) mandate will not be enforced initially because no ELD has been certified for use in Canada yet. The mandate goes into effect June 12 and has similarities to the U.S. ELD rules due to...
https://www.freightwaves.com/news/putting-port-congestion-in-perspective-—-midday-market-update
On this episode of Midday Market Update, Kevin Hill and Michael Vincent talk about today’s top headlines, what inventory crunches mean for industrial real estate and how the air markets are faring.
Headlines
Project44 has announced its acquisition of Ocean Insights with hopes to provide more visibility to clients and manage the severe congestion plaguing West Coast ports. The merger will allow for real-time tracking of ocean freight, both with ships in transit and at anchor.
Retailers are...
https://www.freightwaves.com/news/mitigating-hot-markets-—-midday-market-update
The big story has been weather this week, and Michael Vincent and Kevin Hill learn about the lingering impacts of back-to-back winter storms on this episode of Midday Market Update.
With the weather taking out major freight markets across the South, Werner Enterprises Vice Chairman Derek Leathers said his company will see a 3- to 4-cent hit to first-quarter earnings thanks to multiple winter storms. FreightWaves’ Todd Maiden reports Leathers believes trucking has major structural issues to...
https://www.freightwaves.com/news/weather-woes-spell-q1-trouble-midday-market-update
The Southern Plains are preparing for a second wave of winter weather as millions of people from Missouri to Southern Texas are experiencing rolling blackouts from the first storm. Interstates have been closed due to freezing rain and inches of snow while Texas struggles to keep up with electricity demand during its coldest snap in decades.
A second winter storm is forecast to roll through the same region in the next two days, dropping more snow and ice and keeping temperatures dangerously low,...
https://www.freightwaves.com/news/wild-weather-grips-most-of-the-country-midday-market-update
Uber Freight posted year-over-year revenue growth of a whopping 43%, citing its Freight Enterprise offering as a key reason for improved performance. CFO Nelson Chan said Uber Freight’s user base expanded by 45% quarterly, a big jump that sparks discussion between Kevin Hill and Michael Vincent in this episode of the Midday Market Update.
The latest COVID-19 relief measure may help protect multiemployer pension funds in danger of failing; the House Ways and Means Committee is championing a...
https://www.freightwaves.com/news/uber-freight-poised-for-success-midday-market-update