PRIMO LEADING NEWS
WEEK JUL 1ST TO 4TH
Dozens of U.S. industry associations have urged the White House to intervene in stalled labor negotiations between dockworkers and port operators to prevent a strike that could further disrupt the already strained global supply chains. The current labor agreement is set to expire soon, heightening concerns about potential disruptions at major U.S. ports. The risk of a port strike could severely impact the fluidity of cargo movement, a critical issue PRIMO can address with its robust network and flexible logistics solutions, ensuring continuity in transportation despite external disruptions.
A ship traveling through the Red Sea was attacked, likely by Yemen’s Houthi rebels, confirmed by both a private security firm and the British military’s maritime trade operations center. The vessel, targeted by a waterborne improvised explosive device, was reported safe and continued to its next port of call. PRIMO is actively rebalancing equipment to address the ongoing risks in the Red Sea, ensuring the continuity of supply chains to North American markets.
In 2023, operational expenses in the freight industry saw moderate increases, with specific costs like truck and trailer payments, driver wages, and repair and maintenance costs all escalating. The industry also faced challenges such as higher deadhead mileage and driver turnover, impacting profitability and operational efficiency, but now costs seem to be continuing and accelerating. PRIMO’s extensive network and advanced load-matching capabilities can mitigate these rising costs, offering shippers a more streamlined and cost-effective freight management solution.
VTNA experienced a 14.6% decline in Class 8 truck sales year-on-year through May 2024, despite a $400 million expansion and a market share increase in both the U.S. and Canada. The North American Class 8 market is undergoing a correction, with VTNA’s executive Magnus Koeck predicting a recovery post-election despite ongoing economic uncertainties and a tough freight market. PRIMO’s robust network and advanced load-matching capabilities provide stability and efficiency, addressing the pain point of declining orders and tight capacity in the freight market.
Cross-border freight traffic between the U.S., Canada, and Mexico is critical for North American trade but faces challenges due to inconsistent regulations and infrastructure for alternative fuel vehicles. As trucks transition to zero-emission technologies, the lack of uniform fueling and charging infrastructure across borders complicates logistics and increases operational costs. PRIMO’s robust network and its capability to integrate seamlessly with diverse technological advancements and regulatory standards ensure efficient and compliant freight management across North America, mitigating the complexities of evolving truck technologies and emissions regulations.