Transportation Highlights - May 2024

Service Spotlight: A Case Study on Precision Logistics

Article |?MFW Case Study

Discover how MyFreightWorld delivered custom-branded cups on time and in perfect condition for the PGA Championship. Whether you require speed, cost efficiency, or a balance of both, we offer tailor-made solutions to fit your needs. Let us do the same for your next event.

Analyzing Transportation Data: Insights on Trucks, Trailers, and Tonnage

Source | TruckingDive

The transportation sector is currently experiencing a variety of trends. The load-to-truck ratios for dry van shipments remain steady, indicating a consistent demand within that market. However, reefer ratios are showing a slight increase, suggesting a higher demand for refrigerated transport services. Conversely, flatbed ratios are declining, indicating a reduction in demand for flatbed shipping.

The Q2'24 3PL Warehouse Pricing Index Report

Source | WarehouseQuote

WarehouseQuote has released the latest report on warehouse storage costs, revealing a modest year-over-year increase of 0.5% in the national average. This figure is contrasted with a decrease of 0.6% from the previous quarter. The report also includes commentary from our President Mike Chalfant, who provides insights into the current trends in manufacturing output.

Rail and Intermodal Insights:

Source | FreightWaves

RailState, a North American company that measures rail capacity and performance, raised $4 million in funding to expand its network and improve its AI-powered insights for the rail industry. This investment will support RailState's expansion along the U.S.-Mexico border and the development of real-time rail network information for customers in response to the growing importance of cross-border rail movements in the North American supply chain.

Ocean Freight Insights:

Source | World Cargo News

In Q1 2024, China's container manufacturing industry experienced a significant recovery, producing over 1.14 million TEUs, marking a 40% increase from the previous quarter and a 273% rise from the same period in 2023. This surge in production was driven by ocean carriers and lessors expanding their container fleets in response to new shipping tonnage and a more optimistic trading outlook.