The Weekly Freight Report for December 23rd, 2021
The Top 5 Stories in Freight, Transportation, & Logistics
Here’s this week’s Weekly Freight Report:
- Severe weather to slow transit times.
- Activist investors set crosshairs on the supply chain.
- Are your shipments safe this holiday?
- Hauling dangerous goods in Canada require new training.
- Airfreight rates begin their descent.
1. Severe weather to slow transit times.
Happy Holidays… mother nature’s gift to carriers is severe weather. A severe weather system moving across the US could cause delays in shipping and transit times. Depending on where you are traveling, be prepared for this weather system will bring with it up to 8 feet of snow, up to 6 inches of rain, flash flooding, wind gusts of 40-75 mph and up to 100 mph at times, freezing rain, icy roads, and thunderstorms. Click here to see which lanes will be impacted by the weather this week.
2. Activist investors set crosshairs on the supply chain.
Activist investors are a particular sub-set of investors who aim to bring material change to a company’s operations and outcomes by applying pressure to management. Sustainability performance, operations efficiency, asset utilization, board member composition, environmentalism, human rights violations, governance, and social issues are some of the areas activists seek to change. Recent roll-backs from the Securities and Exchange Commission (SEC) will make it easier for these investors to become involved in company operations. Learn more here.
3. Are your shipments safe this holiday?
Thieves love the holidays, and this year the top items on their list include food and beverage items, household goods, and electronics. CargoNet monitors shipment theft data closely during the holidays. They have reported the average value of a stolen shipment is $151,199, with the total value of stolen shipments being close to $10 million. The data also reveals parking lots, truck stops, and secured yards are the top areas thieves target. Read more on how to secure your shipments here.
4. Hauling dangerous goods in Canada require new training.
Training requirements for hauling dangerous goods in Canada could change soon. The term “adequately trained” has raised some eyebrows and motivated regulators to re-evaluate the current training standards. From 2014-2019 there were 409 incidents involving dangerous goods that led to injury or death. There were 300 training violations during that same period, and 23% pointed to drivers not being adequately trained. To see what the proposed changes will be, click here.
5. Airfreight rates begin their descent.
Airfreight rates across the pacific to the US have started a slow decline as the holiday weekend approaches. As rates are still “sky-high,” freight forwarders have hope they will continue their descent and return to normal in 2022. TAC Index figures from China to the US show that rates are down 8.7% to $13.82. With lockdowns looming globally, consumer spending is expected to increase, adding more pressure to the supply chain. Want more rate data? Click here for all the details.
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