Hapag-Lloyd CEO predicts early peak season for ocean shipping

Hapag-Lloyd’s annual report for 2023 and financial results for Q4 reveal exactly how challenging the ocean container market has been for the largest steamship lines. The report, which the German container ship line released Thursday, notes that Liner Shipping revenues dropped 48.5% to 17.7 billion euros ($19.2 billion) from 2022 to 2023, and earnings before interest, taxes, depreciation and amortization fell by 77.1% to 4.4 billion euros over the same period.

The ocean carrier grew its volumes...

https://www.freightwaves.com/news/hapag-lloyd-ceo-predicts-early-peak-season-for-ocean-shipping

Peak season is multiplying: How can logistics respond?

By Tim Robertson, CEO DHL Global Forwarding Americas

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

The logistics industry has undergone significant changes over the years, responding to numerous evolutions in consumer demand.

For decades, the logistics industry had a seasonality to it, with the period from the late summer to late fall known as the busiest time for suppliers. Today we are seeing a new trend, one...

https://www.freightwaves.com/news/peak-season-is-multiplying-how-can-logistics-respond

Loaded and Rolling: Florida seeks CDL skills testing waiver

Florida seeks CDL skills testing waiver

(Photo: Jim Allen/FreightWaves)

The Federal Motor Carrier Safety Administration on Monday published a notice in the Federal Register that the state of Florida is seeking an exemption to the CDL testing regulation pertaining to skills testing. The Florida Department of Highway Safety and Motor Vehicles (FLHSMV) has applied for an exemption from the regulation that requires a three-part CDL skills test that must be completed in a specific order.

FreightWaves’...

https://www.freightwaves.com/news/loaded-and-rolling-florida-seeks-cdl-skills-testing-waiver

Loaded and Rolling: FreightTech 25 announced

FreightTech 25 announced

(Source: FreightWaves)

On Thursday FreightWaves presented the FreightTech 25 awards, which were chosen independently by a panel of CEOs, industry leaders, academics and investors who scored the companies. Chattanooga, Tennessee-based accounting and auditing firm HHM administered the vote. The awards recognize the most innovative and disruptive companies in the freight technology sector. 

Of the companies that were named to the FreightTech 25, 17 were newcomers, while...

https://www.freightwaves.com/news/loaded-and-rolling-freighttech-25-announced

US holiday spending to climb 3%-4% over 2022, NRF predicts

U.S. holiday spending will grow by 3% to 4% over the 2022 holiday to reach record levels of between $957.3 billion and $966.6 billion, the National Retail Federation said Thursday.

This year’s holiday spending is consistent with the average annualized increase of 3.6% between 2010 and 2019, NRF said. It also represents a slower pace than the past three years, when goods-buying soared amid trillions of dollars of pandemic-related federal stimulus provided to consumers, NRF said.

“It is not...

https://www.freightwaves.com/news/us-holiday-spending-to-climb-3-4-over-2022-nrf-predicts

Online shopping takes lead over brick-and-mortar stores in holiday season upset

Online shopping has finally eclipsed brick-and-mortar store browsing as the most popular holiday gift-buying option this year, according to recent research from project44. While this shift in consumer preferences has been happening for years, it still presents a unique set of challenges for shippers.

“For the first time, a majority (51%) of consumers plan to do most of their seasonal shopping online,” said Eric Fullerton, senior director of product marketing at project44. “Retailers must ensure...

https://www.freightwaves.com/news/online-shopping-takes-lead-over-brick-and-mortar-stores-in-holiday-season-upset

Port of New York and New Jersey moves the most TEUs since October 2022

Peak season for the Port of New York and New Jersey has arrived. Not only did the port take the top spot for containers moved in July, but it was the port’s highest monthly total since October 2022. A total of 725,479 TEUs were processed in July.

Rick Cotton, Port Authority executive director, tells American Shipper it was extremely gratifying to see the strong performance that made the port the busiest in the nation for July.

“The Port of New York and New Jersey’s strong performance in July as...

https://www.freightwaves.com/news/port-of-new-york-and-new-jersey-moves-the-most-teus-since-october-2022

Price war keeps air cargo rates below natural level

Amid a burgeoning price war, pessimism is growing in air cargo circles that a market in prolonged recession could drift further downward, after a short pause, reducing the chance of a modest recovery during the traditional preholiday shipping rush.

Logistics professionals had hoped for an upturn by now that would steadily build into the second half, but that hasn’t happened. Freight forwarders and, increasingly, cargo airlines have responded by chasing volumes without regard to cost, which...

https://www.freightwaves.com/news/price-war-keeps-air-cargo-rates-below-natural-level

Muted peak season continues push toward lower rates

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The holidays are quickly approaching, and shoppers are checking off their gift lists. This year, however, the festive frenzy has not been strong enough to create a traditional peak season effect.

“Peak is muted,” Emerge President George Abernathy said. “There is definitely spending going on, but I do think that there is a lot of hesitancy going on out there.”

“You see some shippers that are aggressively going after the...

https://www.freightwaves.com/news/muted-peak-season-continues-push-toward-lower-rates

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