PRIMO LEADING NEWS

Week JANUARY 29th to FEBRUARY 2nd, 2024

US & Industry

New “State of the Supply Chain Survey” Highlights Optimistic Industry Outlook for 2024

Averitt has released their annual “State of the Supply Chain Survey” for 2024, and the findings show that a majority of companies, 67%, anticipate an increased shipping volume for this year. Moreover, companies are readying for growth amid significant disruptions throughout the industry. In turn, these growing demands will push more companies to consider their supply chain partnerships in greater detail. Plus, this comes at the same time companies are investing more heavily in Mexico manufacturing, so this will definitely be an intriguing future.

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Rail Merger Innovations: Strategic Solutions for Cross-Border Logistics Challenges

The merger of Canadian Pacific and Kansas City Southern railroads is set to create a vast rail network across North America that benefits Canada, Mexico, and the United States. This development aims to enhance efficiencies and cost savings in cross-border trade, despite challenges, such as rising nationalism and restrictive trade policies. Further, this merger will make it easier for companies to source intermodal capacity across the entirety of North America. Plus, PRIMO’s Intermodal capabilities and cross-border services will be well-poised to growth in light of this development.

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Trucking

Diesel Price Declines Continue to Impact Freight Spend, Trigger Greater Need for Support From Partners

Diesel prices have dropped for the 14th time in 18 weeks. This decline reflects market adjustments to warmer-than-expected weather, reducing the anticipated demand for diesel as a heating fuel. However, these changes take time to impact fuel surcharges associated with shipping. Through its managed transportation system, PRIMO helps clients navigate these uncertainties, optimizing freight management to mitigate the impact of fuel price volatility. With PRIMO’s expertise and technology, businesses can ensure efficient and cost-effective freight operations.

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Cargo Thefts Up 57%, PRIMO Steps up With Tech and Support to Curb Issues

Cargo theft has become an even bigger problem in today’s supply chain, with data showing an increase of 57% in 2023. The thefts are a significant problem for cross-border trade and often center around tracking and physical shipment security weaknesses. PRIMO is well-suited to work against this problem with our cutting-edge technology with tracking and security measures, ensuring peace of mind for businesses navigating the complexities of modern logistics.

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GLOBAL IMPACT

Climate and Geopolitical Problems for Panama- and Suez Canal-Bound Vessels Means Greater Demand for Help in Finding Alternative Transportation

Recent geopolitical tensions in the Red Sea and a severe drought in Central America are significantly disrupting global supply chains, particularly affecting the crucial Suez and Panama Canals. Houthi attacks in the Red Sea and a stark decline in the number of ships permitted to cross the Panama Canal are creating a unique situation and impacting water transport rates. Much of this can be attributed to climate change, and with 40%+ of US-bound shipments typically traversing these waterways, shippers are scrambling for alternate solutions. PRIMO’s network and innovative approach are helping to safeguard against the unpredictable nature of these and future disruptors.

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