PRIMO LEADING NEWS
WEEK FEBRUARY 5TH TO 9TH, 2024
GLOBAL IMPACT
Ongoing Disruption in the Red Sea Leads to Greater Demand for North American Solutions in Freight
FEBRUARY 5, 2024
The disruption caused by the ongoing attacks in the Red Sea, combined with the historic drought of the Panama Canal, is on track to disrupt the 2024 peak shipping season. Major brands are calling for government intervention to protect against problems like these that will happen many moons into the future. As a result, more brands will turn to third-party partnerships with PRIMO to find capacity and avoid issues. PRIMO actively tracks all delays and pre-notices for imports at all major ports and terminals.
US & INDUSTRY
Declining Diesel Costs Indicate Improving Conditions, But Shippers Still Cautious Over Fuel Surcharges
FEBRUARY 6, 2024
Diesel costs have again declined 4.7%, but this retraction occurs with rising costs in core areas. For instance, cross-border freight is improving for the second consecutive month. The improvements mean that shippers must stay proactive and mind their partnerships. PRIMO Cross-Border services are well-suited to combat this change and the regional and local changes in demand.
TRUCKING
UPS Eyes Selling Coyote, Shippers Worry Over More Disruption
FEBRUARY 7, 2024
UPS is considering selling off Coyote as a means of cost control. The move is only the most recent disruption affecting the availability of transportation service providers and reminds many of the horrors of bankruptcy in 2022. Fortunately, shippers with strategic partnerships in place for OTR transport will benefit from a protective effect against this and future disruptions.
TECHNOLOGY
AI Comes For Logistics, Triggers Greater Innovation Demand Among Shippers
FEBRUARY 8, 2024
The rise of generative AI has been a game changer for many industries, but the supply chain is lagging. Only 2% of supply chains have embraced the AI learning curve and use of generative AI, and it’s not only about marketing. Generative AI is useful in assisting staff, generating code, interfacing with new technologies, and managing many different processes. PRIMO is a technology-centered company that has wholeheartedly embraced AI across many functions, particularly analytics. Shippers can rest assured that PRIMO is actively working to leverage the latest technology and empower our world-class team.
More Environmental Pressures and Economic Instability Hasten the Demand for Omnimodal Solutions
FEBRUARY 9, 2024
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.