Trucking Market Hasn’t Recovered Yet

The number of shipments moved by truck dropped 5.8% year over year in May, according to Cass Information Systems, which forecast that June would be another down month. The Port of Los Angeles also reported a decrease in containerized imports in May.

Meanwhile, the Port of Baltimore has fully reopened after the late-March bridge collapse, and U.S. retailers have reportedly rightsized their inventories. But ports and retailers face the prospect of severe supply chain disruption if dockworkers on the East and Gulf coasts can’t reach an agreement and go on strike after their contract expires at the end of September.

In volatile freight markets, real-time, accurate information is essential for shippers, carriers, and freight brokers. At Axles Technologies, we simplify access to that vital logistics data.

📉Truck Shipments Continue Year-Over-Year Decline

Cass Information Systems data showed the trucking freight market remained under pressure in May. FreightWaves reported the 5.8% year-over-year decline in shipments was nearly double the previously forecast drop, and the Truckload Linehaul Index is now expected to decline 4% year over year in June, with a “similar decline for the full year.”

🔎Port of Baltimore Adds Cargo Visibility and Capacity

The Port of Baltimore has fully reopened following the Francis Scott Key Bridge disaster in late March and is enticing shippers to return with enhanced visibility and capacity, according to Supply Chain Dive, which reported container terminal operator Ports America Chesapeake has joined the federal Freight Logistics Optimization Works (FLOW) data-sharing program and auto capacity is being doubled at the Tradepoint Atlantic terminal.

👍Retailers Return to ‘Normal Replenishment’

U.S. retailers have finally reset their inventories, which “got out of whack post-COVID,” Werner Enterprises CEO Derek Leathers said, according to Transport Topics. “Now they’re back to normal replenishment. So, as they sell through, they’re replenishing and preparing for what could look like a more normalized fall. Those are all encouraging signs.”

👎International Longshoremen’s Association Contract Talks Stall

The International Longshoremen’s Association (ILA) suspended contract negotiations with the United States Maritime Alliance (USMX) over the use of an autonomous gate system by APM Terminals and Maersk. “There’s no point trying to negotiate a new agreement with USMX when one of its major companies continues to violate our current agreement with the sole aim of eliminating ILA jobs through automation,” ILA President Harold J. Daggett said.

🏗️Port of LA Imports Dip But Exports Rise Nearly 24%

The Port of Los Angeles processed 390,663 twenty-foot equivalent units (TEUs) of containerized imports in May, 4.5% less than the same month in 2023, when the West Coast gateway was experiencing “super big numbers,” Executive Director Gene Seroka said, according to Supply Chain Brain. Loaded export containers, on the other hand, were up 23.8% year over year, totaling 125,963 TEUs.

🐺RXO Paying UPS $1B for Coyote Logistics

In arguably the biggest M&A deal of 2024 thus far, RXO Inc. has announced it is buying Coyote Logistics from UPS for $1.025 billion. Transport Topics noted that UPS is taking a big loss on the sale – it paid $1.8 billion for Coyote in 2015. “As UPS positions itself to become the premium small-package provider and logistics partner in the world, the decision to sell our Coyote Logistics business allows an even greater focus on our core business,” UPS CEO Carol Tomé was quoted as saying.

🍟But I Ordered Fries With That

Say it ain’t so! Korean media outlets are reporting that McDonald’s has suspended sales of french fries at its restaurants throughout Korea. “Due to an unexpected issue within our supply chain, we are temporarily unable to provide french fries,” McDonald’s Korea said in a statement.

🤝Axle Partners with MyCarrierPortal

Axle has partnered with MyCarrierPortal to redefine automation in freight brokerage. MyCarrierPortal makes vetting, approving, and onboarding carriers easy. Axle’s Beacon product automates manual tasks and streamlines brokerage operations. Together, MyCarrierPortal and Beacon help freight brokers navigate the complexities of logistics with ease.

🚨Beacon Helps Brokers Weather Freight Market Turmoil

In a volatile freight market, it’s imperative that freight brokers move fast. Beacon automates workflows with artificial intelligence (AI) to help freight brokers increase capacity by 30-40%, reduce errors, and bolster customer relationships. Our software plugs directly into email inboxes and transportation management systems (TMSs) to automate data entry, scheduling, and track and trace. Our application programming interface (API) product also makes it easy to onboard real-time telematics data from trucking carriers.

Book a demo with Beacon today.

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