PRIMO LEADING NEWS
WEEK APRIL 29TH TO MAY 3RD
Demand for capacity near and around the Port of Houston is triggering an increased demand for omnimodal presence and capability in the area, including potential cross-border trade coming from the border and headed for potential shipping via steamship to New England or other areas. In fact, the growth for the port last quarter was 15% more year-over-year. As a result, more companies and shippers will turn to experts, e.g., PRIMO to find the coverage they need for drayage, OTR and intermodal solutions.
manufacturers are reducing production due to a significant decrease in demand and a surplus of supply, with major companies like CIE Manufacturing and Hyundai Translead reporting lower utilization and cautious future outlooks. The market downturn is attributed to a decrease in intermodal volumes and economic uncertainties, affecting production forecasts and investment decisions across the industry. This reduction in chassis availability underscores the value of PRIMO’s robust logistics network and its ability to provide reliable transportation solutions during market fluctuations.
New studies from the FMCSA indicate increasing truck transit time in and around the Port of Baltimore. Total increased demand is likely to continue increasing until additional capacity can be diverted to the area. In response, shippers are likely to start leveraging more third-party experts, i.e., PRIMO, to find and manage coverage for affected shipments, including imports and exports across both headhaul and backhaul needs to other ports along the East Coast. Plus, PRIMO has all areas of North America covered, from the north to south where nearshoring continues to grow.
Administration (FMCSA) is replacing the outdated Unified Registration System (URS) with a new, streamlined online FMCSA Registration System (FRS), integrating multiple forms into a single platform to enhance user experience. This development follows decades of unsuccessful attempts and indefinite suspensions, promising a more efficient registration process for industry participants. The complexity and evolving requirements of the new FMCSA registration system highlight the need for companies to rely on PRIMO’s expertise in navigating logistics and carrier sourcing efficiently.
The American Trucking Associations’ For-Hire Truck Tonnage Index dropped by 2% in March after a 4% increase in February, marking a continuation of the truck freight recession with a 0.8% contraction from the previous quarter and a 2.4% decline year-over-year. This downturn in truck tonnage highlights persistent challenges in freight volumes and pricing stability across the industry. PRIMO’s robust freight management solutions can mitigate these challenges by offering flexible, reliable logistics services that adapt to market volatility, ensuring cost-effective transportation options for shippers.