PRIMO LEADING NEWS
WEEK DECEMBER 18TH TO 22TH, 2023
US and Industry
Christmas Sales and Logistics Grows 1.8% YOY, Pushes Rates Higher
DECEMBER 18 , 2023
The holiday season is seeing a 1.8% year-over-year growth in sales, indicating a resilient consumer spending trend. This increase is contributing to a more stable supply chain, with major carriers maintaining high on-time performance rates. However, this growth also pushes logistics rates higher due to limited capacity. PRIMO’s comprehensive freight management solutions offer a way to navigate this increased demand efficiently, ensuring that capacity challenges are met with effective and timely logistics strategies.
trucking
UN COP28 Climate Conference Puts 200 Countries on Track to Net Zero Emissions, Impacts Transportation
december 19, 2023
The COP28 climate conference concluded with a landmark agreement among nearly 200 nations to transition away from fossil fuels in the energy sector, a major step towards achieving net zero emissions by 2050. This historic consensus, which includes the first-ever Global Stocktake and a focus on tripling renewables and doubling energy efficiency by 2030, signals a significant shift in global climate policy. For the transportation sector, this agreement underscores the urgency of route optimization and reducing reliance on fossil fuels. PRIMO, with its expertise in solar industry logistics, is well-positioned to support this transition, offering solutions that align with the growing need for sustainable energy logistics and helping businesses adapt to a rapidly evolving environmental landscape.
Panama Canal Situation Intensifies, Puts Shippers on Notice to Find Alternate Routes
december 20, 2023
The Panama Canal, a critical global shipping route, is experiencing significant changes due to persistent drought, leading to a drastic reduction in transit numbers and extended wait times for ships. This situation has prompted a notable shift in global shipping patterns, with many vessels now seeking longer alternative routes via the Suez Canal and around the capes. The impact is particularly felt in the tanker market, with volatility expected to continue through the first half of 2024. In response to these challenges, PRIMO’s managed transportation system offers shippers viable alternatives and strategic solutions to navigate market instability. By leveraging PRIMO’s expertise and network, shippers can find efficient and reliable routes, ensuring their cargo reaches its destination despite the disruptions at the Panama Canal.
Technology
Construction Spend Increases Following Stronger Demand for Manufacturing, Power, and Education Projects
December 21, 2023
October witnessed a 0.6% increase in total construction spending, driven by significant gains in manufacturing, power, and education projects, as well as single-family homebuilding. Despite this overall growth, there were declines in other nonresidential segments like commercial construction and highway and street construction. This mixed landscape in the construction sector highlights the challenges of limited capacity for full truckload (FTL) and flatbed transportation. PRIMO’s truckload services are designed to address these capacity challenges, offering efficient and reliable solutions for the varied needs of the construction industry. Whether it’s transporting materials for manufacturing plants or equipment for large-scale education projects, PRIMO ensures that the logistics are handled seamlessly, contributing to the continued growth and success of these vital sectors.
Automation Makes the List of Top Trends to Watch in Supply Chain for 2024
December 22, 2023
October witnessed a 0.6% increase in total construction spending, driven by significant gains in manufacturing, power, and education projects, as well as single-family homebuilding. Despite this overall growth, there were declines in other nonresidential segments like commercial construction and highway and street construction. This mixed landscape in the construction sector highlights the challenges of limited capacity for full truckload (FTL) and flatbed transportation. PRIMO’s truckload services are designed to address these capacity challenges, offering efficient and reliable solutions for the varied needs of the construction industry. Whether it’s transporting materials for manufacturing plants or equipment for large-scale education projects, PRIMO ensures that the logistics are handled seamlessly, contributing to the continued growth and success of these vital sectors.