PRIMO LEADING NEWS
WEEK MARCH 18TH TO MARCH 22TH, 2024
February’s U.S. container imports decreased by 6% from January, outperforming expectations for the slow season, with a 23.3% year-over-year increase. However, signs point to potential softness in domestic freight for March and April, highlighting ongoing market volatility amidst global risks shaping trade movements. Shippers facing challenges navigating the fluctuating import landscape could leverage PRIMO’s predictive analytics to anticipate market shifts and optimize supply chain strategies accordingly, ensuring resilience amidst uncertainty in March and April. PRIMO’s insights empower shippers to adapt swiftly to seasonal and global factors, mitigating risks and maximizing efficiency in the freight industry.
Container shipping through the Red Sea and Suez Canal has declined due to Middle East conflict, impacting trade routes between Europe and Asia. Despite some recovery, shipping frequencies have reduced, leading to longer voyages and affecting spot rates, with shipping companies deploying more vessels to mitigate delays. Middle Eastern conflicts disrupting Red Sea shipping underscore the need for agile supply chain solutions. PRIMO’s extensive carrier network and options that support Mexico nearshoring, i.e., new routes now available, offer resilience amid route disruptions, ensuring uninterrupted trade flow.
Global fuel prices surge amid trade route disruptions and refinery closures, posing challenges for supply chain forecasting ahead of the U.S. presidential election. Increased demand for gasoline and diesel, coupled with interruptions in production and logistical hurdles, are driving prices up, impacting both consumers and political landscapes. PRIMO analytics and a wide LTL network enable accurate assessment of fuel surcharges and accessorials, crucial for shippers amidst surging global fuel prices. Leveraging PRIMO helps businesses ensure precise cost management, navigating challenges posed by trade disruptions and heightened demand effectively
Truckers are welcoming the new FMC rule on container fees, impacting charges at ports and rail facilities and putting more control back into their hands over rates. PRIMO analytics ensure accurate assessment of charges, easing the burden on truckers while enhancing supply chain efficiency. PRIMO simplifies billing, ensuring accuracy and enhancing supply chain efficiency whether truckload, drayage or any other mode.
Residents in Logan, Australia, can enjoy drone deliveries for everyday items, a service that’s gaining traction in the U.S. as regulatory hurdles ease, allowing companies like Walmart and DoorDash to expand their drone delivery services. But it comes with challenges for deployment in North America and other areas. Part of the issue is that integration is often difficult at best and requires much more advanced technologies than many shippers possess. PRIMO is paving the way forward for future use of such technologies via advanced systems and capabilities, including today’s iteration of the PRIMO Portal and a fully integrated tech stack.