warehouse

Southern California softness cited for 2024 drop in logistics real estate rents

Annual market rents on logistics real estate fell in 2024 for the first time since the 2007-2009 global financial crisis, according to a Tuesday report from warehouse operator Prologis. The company’s outlook for 2025, however, calls for a modest recovery.

Prologis’ (NYSE: PLD) annual rent index showed global rents were off 5% in 2024 – the combination of a 7% drop in the U.S. and Canada, with just a 1% dip in Europe. The biggest deterioration was seen in Southern California, a market that saw...

https://www.freightwaves.com/news/southern-california-softness-cited-for-2024-drop-in-logistics-real-estate-rents

Prologis Q4 earnings: First look

Logistics real estate investment trust Prologis beat fourth-quarter expectations Tuesday, posting core funds from operations (FFO) of $1.50 per share. The result was 11 cents ahead of the consensus estimate and included the sale of a data center.

Average occupancy across the San Francisco-based company’s portfolio was 95.6%, 150 basis points lower year over year but just 30 bps lower than the third quarter in what is expected to be a shallow downturn for the industry. Net effective rent change...

https://www.freightwaves.com/news/prologis-q4-earnings-first-look

Labor demand ends 2024 with a surprising bang

The U.S. labor market was more fiery than analysts expected in December 2024, adding 256,000 nonfarm jobs and slightly reducing the unemployment rate to 4.1%, per the Bureau of Labor Statistics.

The robust employment growth — coupled with stable job openings and minimal layoffs — is a double-edged sword, however. The Federal Reserve has already cast doubt on its willingness to continue cutting interest rates in 2025 as inflationary concerns re-emerge; a robust jobs market will only further...

https://www.freightwaves.com/news/labor-demand-ends-2024-with-a-surprising-bang

Slight drop in trucking jobs in December wraps up overall down employment year

Employment in the truck transportation sector in December continued recent, mostly downward trends, wrapping up a year in which total employment declined slightly.

The Bureau of Labor Statistics reported a drop of 800 jobs in the truck transportation sector for the month. That took total employment down to 1,545,900 jobs. 

After a year in which jobs totals rose in six separate months and fell in the other six, the end result is that employment in the sector declined 5,900 jobs over the course of...

https://www.freightwaves.com/news/slight-drop-in-trucking-jobs-in-december-wraps-up-overall-down-employment-year

At TRB: How high-tech mapping can grow intermodal, and a data reality check

WASHINGTON — Here’s what supply chain stakeholders know for certain about intermodal transportation: It involves freight moving between air, land and sea. Beyond that, well, there are more questions than answers.

The 104th annual meeting of the Transportation Research Board provided a fertile setting for more than 13,000 educators, regulators and private businesses to consider diversified research into how to get from here to there, and the elusive goal of making it all more efficient.

At a...

https://www.freightwaves.com/news/at-trb-how-high-tech-mapping-can-grow-intermodal-and-a-data-reality-check

Transportation pricing index hits highest level since freight recession began

The growth rate of transportation prices surged to a more than two-year high in December, according to a monthly survey of supply chain managers.

The Logistics Managers’ Index showed sentiment around transportation prices stood at 66.8 during the recent month, up 3 percentage points from November and the highest growth rate posted since April 2022. Strong consumer demand and record e-commerce deliveries were cited as the reasons for the acceleration in the pricing index.  

The LMI is a diffusion...

https://www.freightwaves.com/news/transportation-pricing-index-hits-highest-level-since-freight-recession-began

Fireside Chat: Using AI to boost safety, warehouse logistics efficiency

This fireside chat recap is from FreightWaves’ Domestic Supply Chain Summit on Wednesday.

FIRESIDE CHAT TOPIC: Revolutionizing warehousing: Using drones to build inclusive operations

DETAILS: Sankalp Arora, co-founder and CEO of Gather AI, explains how his company’s technology uses cameras and drones to automate and improve efficiency for warehouse operations.

KEY QUOTES FROM ARORA:

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https://www.freightwaves.com/news/fireside-chat-using-ai-to-boost-safety-warehouse-logistics-efficiency

November trucking jobs see healthy rise; a one-time move or start of a trend?

The number of seasonally adjusted jobs in the truck transportation sector reported by the Bureau of Labor Statistics on Friday could be viewed as either another data point in a rut of seven months or more in duration or the first sign of a breakout to the upside.

With the 2,900-job increase in November from a revised October figure, truck transportation jobs stood at 1,548,700 jobs. Supporting the view of the numbers as a rut is the fact that the November total was just 700 jobs higher than...

https://www.freightwaves.com/news/november-trucking-jobs-see-healthy-rise-a-one-time-move-or-start-of-a-trend

Transportation pricing up again in November, sentiment survey shows

Transportation capacity was up slightly in November, but pricing remained firmly in expansion territory, a Tuesday sentiment survey revealed.

The Logistics Managers’ Index, a monthly query of supply chain managers, registered a 52.6 reading for transportation capacity in the month. That was up 1.7 percentage points from October. Transportation utilization (60.5) ticked up less than 1 point while transportation pricing (63.8) remained near October’s two-year high.

The pricing metric faced a modest...

https://www.freightwaves.com/news/transportation-pricing-up-again-in-november-sentiment-survey-shows

European officials probe attempted air shipments of incendiary devices

This story originally appeared on AirlineGeeks.com.

Two incendiary devices bound for delivery by DHL from Europe to North America were discovered this summer, prompting Western officials to investigate their origin.

A Wall Street Journal report broke the news Monday that the devices caught fire at DHL’s logistics hubs in Leipzig, Germany, and Birmingham, England, in July. The report stated that investigators in Europe have determined the electric massagers implanted with a flammable substance...

https://www.freightwaves.com/news/european-officials-probe-attempted-air-shipments-of-incendiary-devices

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