3PL

June’s TVI dry van freight reading—at 240—was up 6% compared to May, with the refrigerated TVI—at 173—down 0.6%, and the flatbed TVI up 5%, to 245. DAT said that changes in the TVI represent the number of loads moved with a pickup date during the month.

Atlanta-based Nolan Transportation Group (NTG), a provider of non-asset, tech-enabled logistics and brokerage services, and a subsidiary of Transportation Insight, and San Francisco-based freight forwarding and customs brokerage services provider Flexport, said they are collaborating on a strategic partnership focused on integrating their respective technologies, with a focus on “greater visibility across supply chains.”

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Total June volume—at 1,539,226 units—fell 2.9% annually, less than May’s 3.8% annual decline. Trailers—at 74,824—saw a steep 24.1% annual decline, in line with May’s 26.6% downward spread. Domestic containers—at 693,761—headed up 4.5%, short of May’s 5.7% annual gain. All domestic equipment, which is comprised of trailers and domestic containers, was up 1.4%, to 4,644,642. ISO, or international, containers—at 4,298,663—fell 11.8%, topping May’s 8.5% annual decrease.

Company officials said that this office can hold up to 350 employees and represents what Arrive called a continuation of its strategic expansion goals, driven by more than $300 million in funds raised in 2021.

Global retail giant Walmart said its Walmart Canada segment recently rolled out a new 60-foot, multi-temperature refrigerated trailer, which the company said is one of the first of its kind for the company in North America. The company observed in a blog posting that this trailer allows the company to ship more freight to stores in a single trip, providing improved efficiency within its supply chain, as well as fewer CO2 emissions.

ILWU and PMA said that the tentative agreement is subject to agreement on the other issues in the negotiations.

The report’s second quarter shipment index value—at 121.6—was up 2.3% compared to the first quarter and essentially flat annually, down 0.9%. On the freight spend side, the index—at 279.6—was up 3.3% compared to the first quarter, while also posting a 19.7% annual gain.

The protests were in response to the United States Supreme Court’s having denied review—or Certiorari—of the Circuit’s reversal against the injunction of AB5 (Assembly Bill 5) in California, a law governing owner-operators that potentially could be very disruptive to trucking operations in the nation’s most populous state.

The national diesel average—at $5.268 per gallon—fell 16.4 cents, marking the steepest annual decline going back to the week of October 27, 2008, when it fell 19.4-cents, to $3.288.

Quarterly revenue—at $24.8 billion—rose 5.7% annually, and adjusted earnings per share—at $3.29—saw a 7.5% increase, topping Wall Street estimates of $3.16 per share. Quarterly operating profit was up 8.5% to $3.5 billion.

Memphis-based FedEx said that as economic conditions have shifted, it is making operational adjustments to suspend Sunday delivery operations in certain low-density, rural markets, effective the week of Aug. 15.

The new edition of the Cowen/AFS Freight Index, which was recently released by New York-based investment firm Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, showed how the duo of higher carrier fuel surcharges and record-high inflation have impacted multiple modes, in tandem with flattening modal growth trajectories, seasonal factors, still-high fuel costs, and softening demand.

Going back to when the fee was initially rolled out on October 25, 2021, POLA and POLB said that the ports have seen a cumulative 26% decline in the amount of aging cargo on their docks, a tally which has trended up going back to the initial announcement of this fee.

For May, the most recent month for which data is available, the TCI came in at -0.3, on the heels of a 3.21 April reading. April was preceded a -7.38 March reading, the first negative TCI reading going back to May 2020.