Storage Space Rent to Rise in 2023
Inventories in warehouses are high, and experts are not expecting anything less any time soon. Demand for storage space remains firm, according to Prologis, a logistics real estate company. Prologis projects that rents for these inventory spaces to increase 10% in the U.S. in 2023 and about 9% globally. Even with these numbers, the company […]
Bill to Lower Minimum Driving Age Reintroduced
A bill was reintroduced into congress that proposed to allow 18-to-20-year-olds to haul containers to and from ports. It is propositioned that opening the line haul field to a new, younger demographic would help to solve some of the issues with recruiting and keeping new truckers; especially after years of experiencing sever driver shortages and […]
Trucking Jobs Affected by Freight Levels
Driver recruitment is predicted to slow into the first quarter of 2023 as freight demand continues to return back to pre-pandemic levels. With the previous efforts to raise compensation in order to entice drivers to stay in their jobs, as well as to appeal to new drivers, trucking companies anticipate allocating funds away from recruiting […]
Tanker Rates Decreasing In Spite of New Restrictions
An EU ban on seaborne imports of Russian crude went into effect on December 5th, 2022, in hopes that this market-altering event would hike the crude tanker rates. Not only has there been no sign of rate hikes almost 30 days later, but tanker rates have gone down double digits since the Russian restrictions went […]
Container Volumes Reach Pre-Pandemic Levels
After two years of disruptions creating a flux of cargo and inventory, the Port of Savannah operators are finally able to breathe. A recent report has stated that the container trade has reduced in demand and volume, affording port employees a nice change of pace. “Container trade at U.S. ports is returning to a more […]
Bill Passed to Avert Devastating Strike
Economists unanimously agree that a rail strike could paralyze the nation’s economy, especially ahead of one of the busiest times of year for supply chains: Holiday season. While rail negotiations have continued to stall, the U.S. Congress has voted to pass legislation to effectively block a strike set for early December 2022. The bill gives […]
Gulf Coast Ports Continue Strong Gains
Gulf coast ports have continued to trend upward with container volumes from October through November. This can be attributed to an increase in imports such as steel, plywood, and bagged goods, as well as an increase in exports of petroleum and crude oil. “Our volumes continue to be strong — we continue to hear about […]
Fall Season Profitable for East Coast Ports
According to the Georgia Ports Authority (GPA), Fall shipping season has been extremely profitable for U.S. ports on the East and Gulf coasts. Ship berthing time has gone down, new and expanding businesses are utilizing the anchorages, and increased capacities coming online next year have added to the attractiveness of greater efficiency. GPA recently reported […]
Railroads and Unions Back to Negotiations
The potential for a rail strike is once again a possibility starting November 14th as members from the Brotherhood of Maintenance of Way Employees Division (BMWED) have rejected new labor contracts. These are the same labor contracts that have been in revision since January of 2020. This recent rejection sends both unions and railroads back […]
Diesel Prices Increase After Oil Production Cut
Blink and you’ll miss it – diesel prices are on the rise again, increasing by an average of $.40 in the span of a single week. These price increases come shortly after the OPEC Oil cartel and its allies announced that it will be decreasing oil production. This production cut comes only a few months […]
