Market leader Daimler Truck grew sales by a scant 1% in 2023. It blamed supply chain bottlenecks for missing its higher goals. Daimler reports full-year financials on March 1 and expects to meet its revenue and profit metrics. Group sales, which include Portland, Oregon-based Daimler Truck North America, amounted to 526,053 units. That compared with…
Year-over-year (y/y) declines in freight shipments and spend continued to taper during December, according to data compiled in the Cass Freight Index. December shipments outperformed normal sequential seasonal changes, up 2.1% seasonally adjusted. That followed a 0.3% sequential increase in November. Compared to a year ago, volumes captured by the data set were off 7.2%,…
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Canada-based Cargojet announced Monday it has abandoned plans to add four Boeing 777 converted freighters because of lackluster demand for international shipping service so it can concentrate on using profits to reward shareholders and strengthen its balance sheet. A statement by the Toronto-based airline suggesting it is canceling the order appeared at odds with the…
Red Sea diversions mean container lines need more ships to carry the same amount of cargo. The security situation — which is even more precarious in the near term due to coalition air strikes in Yemen — has already driven spot container freight rates much higher. Now it is starting to push up the price…