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Shipping line Zim gets hammered by high spot-rate exposure
Zim, the world’s 10th-largest container line operator, has sunk into the red as its boom-era contract coverage has crumbled under the weight of falling spot rates. The Israel-based company reported first-quarter results Monday that were much worse than expected, causing a double-digit plunge in its share price in quadruple average trading. Shares (NYSE: ZIM) were…
May flowers wither on the vine
This week’s FreightWaves Supply Chain Pricing Power Index: 25 (Shippers) Last week’s FreightWaves Supply Chain Pricing Power Index: 25 (Shippers) Three-month FreightWaves Supply Chain Pricing Power Index Outlook: 25 (Shippers) The FreightWaves Supply Chain Pricing Power Index uses the analytics and data in FreightWaves SONAR to analyze the market and estimate the negotiating power for…
What to keep in mind when introducing dashcams to your fleet
Everyone has seen clips of dashcam footage from trucks either online or on the news. The videos often show nail-biting close calls, reckless driving and even collisions — sometimes involving the vehicle with the dashcam. Acts of nature, distracted driving and erratic behavior by other drivers are common occurrences that put everyone on the road…
Port of Long Beach: Consumer spending decline contributed to import drop
The Port of Long Beach’s executive director said a drop in consumer spending contributed to a nearly 35% year-over-year (y/y) drop in imports at the West Coast gateway. “Warehouses remain full and fewer cargo containers are crossing the docks because consumer spending remains slow,” Mario Cordero said in a statement Wednesday. “We are ready for…
Auto industry finds just-in-time success via next-gen visibility
Consumer demand for durable goods has taken a nosedive in recent months, and overall spending is down as people grapple with the possibility of a recession. Naturally, most sectors, especially retail, are experiencing weakened demand and falling volumes. This is not the case, however, for the automotive industry. “Motor vehicles enable the consumer to leave…
NASA’s supersonic Quesst, DAT vs Convoy, Bed Bath & Beyond vs OOCL – WTT
On today’s episode of WHAT THE TRUCK?!? Dooner is talking to NASA’s Dave Richwine about the Quesst to go supersonic. The agency aims to end a 50-year ban on supersonic travel by defying the thunderous sound of a sonic boom. The supply chain is getting litigious as Bed Bath & Beyond files $31.7 million suit…