Freight brokerages struggle through a long trough

The freight winter that sent Surge into bankruptcy and shut down Convoy isn’t over yet, even if the bottom is likely in. Tender rejection rates are hovering around 4%, indicating that capacity is still loose and that asset-based carriers aren’t in a position to reject contracted freight.

J.B. Hunt’s first-quarter results, reported Tuesday after markets closed, revealed the pain felt by the largest transportation providers and their brokerages. 

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Port of Los Angeles cargo volumes rise 18% YoY in March

Cargo volumes at the Port of Los Angeles rose 19% year over year to 743,417 total TEUs in March, the eighth consecutive month of YoY growth.

“Moving into April and the second quarter, I expect robust cargo flow to continue here,” Port of Los Angeles Executive Director Gene Seroka said in a media briefing on Wednesday.

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China vows to act after U.S. calls for tariffs on steel products

China slammed a U.S. plan to impose new restrictions on its steel and aluminum products, saying it will take action to protect the country’s interests. 

The U.S. is “arbitrarily slapping tariffs on Chinese products,” politicizing economic issues and undermining the security of the global supply chain, the Ministry of Commerce said in the statement on April 18. China urges U.S. to stop increasing tariffs and pledges to take all necessary measures to defend its rights, it said.

Read More Here Supply Chain Brain