Extreme hurricane season could trigger ‘carrier revenge’

For the past two years, shippers have had enormous leverage in the freight market, as excess capacity has kept rates under significant pressure. Shippers, who suffered under the weight of sizable market stress during COVID have inflicted “shippers revenge” on motor carriers, something we were warned was coming back in August 2022.

Truckload spot rates, when adjusted for inflation, have plummeted to lows not seen since 2009.

Read More Here Freightwaves

 

Toyota debuts renewable energy system at Port of Long Beach

Toyota Motor North America and FuelCell Energy opened a renewable energy system to power the automaker’s logistics operations at the Port of Long Beach, according to the port’s May 2 press release. Called “Tri-gen,” the system produces renewable electricity, renewable hydrogen and usable water from biogas. 

Read More Here Supply Chain Dive

 

Trans-Pacific carriers slashing NVO allocations as spot rates spike

Trans-Pacific container carriers are slashing — or in some cases even eliminating — allocations to non-vessel-operating common carriers (NVOs) for fixed-rate bookings as they concentrate on booking cargo at much more lucrative spot rates that have increased by more than half since early April. 

Read More Here Journal of Commerce

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