PRIMO LEADING NEWS
WEEK MARCH 25TH TO MARCH 29TH, 2024
The quarterly report for 2023 and annual report the whole of last year reveal 40%+ decline in revenue, but the changing tides seem to be moving toward a positive outlook. CEO Rolf Habben Jansen predicts a surge in imports from June to August, meaning an early peak and potential challenges for shippers operating on tight margins. PRIMO capacity solutions are ready to handle these change and with a combined, integrated tech stack, PRIMO is ready to ensure any additional surcharges, which could happen earlier too, can be mitigated and tracked thoroughly as part of a comprehensive PRIMO PORTAL.
The Department of Transportation (DOT) has confirmed an increase in West Coast imports following months of uncertainty around East Coast import trends due to the ongoing attacks in the Red Sea. In turn, the US is working to aide shippers in mitigating risks and encouraging all to consider the continued use of alternate routing or modes to reduce demand. PRIMO’s continental coverage and open-spot availability is well suited to help lessen the burden on the West Coast while also offering intermodal services for those headed from West Coast imports to East Coast destinations. It’s a unique situation that is built on strong relationships.
The dramatic increase in China’s container exports to Mexico, which surged nearly 60% year-over-year in January, indicates a potential strategy to bypass U.S. tariffs, hinting at a complex challenge in trade regulation and enforcement. This problem is set to reshape the standards of inland drayage and cross-border logistics. PRIMO’s ready and able to tackle these challenges head-on.
The trucking industry is grappling with a 12th consecutive year-over-year decline in tonnage, despite a modest month-to-month improvement in February. This ongoing downturn highlights the industry’s struggle to recover from a pervasive freight recession, underscoring the need for significant improvement despite recent gains. Such changes mean shippers may see changing capacity as carriers look to stave off trouble and potential issues with bankruptcy—something that’s recurred many times in the past year. PRIMO’s advanced network helps to mitigate such risks by sourcing carriers from a wide range of companies.
The ongoing debate and advance of AI technologies is becoming more mainstream, and now Happyrobot.ai is preparing to launch an AI tool that will enhance operations and reduce strain on dispatching services/personnel. This new change will inherently require careful integration and versatile platforms to work at scale. Fortunately, PRIMO’s ability to connect not only truckload but all modes—our omnimodal capabilities—via API through the PRIMO tech stack is future-ready as advancements like this continue.