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Projected %15 reduction in ocean capacity by 2024

Projected %15 reduction in ocean capacity by 2024

Effective ocean carrier capacity will be decreased by up to 15% between 2023 and 2024, a result of new global fuel efficiency rules, along with slow-steaming and scrapping. The reduction will occur in spite of a continuous increase in newbuilding deliveries,..

US trade groups urge Biden to re-engage to avert rail strike

US trade groups urge Biden to re-engage to avert rail strike

A broad coalition of more than 300 US industry groups, including retailers, farmers, and chemical exporters, on Thursday, urged President Joe Biden to directly engage again with Class I railroads and unions after a second union rejected the tentative contract agreement agreed to in September, stoking fears of a mid-November national strike.

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June Imports Grow 5.9% at Top 10 U.S. Ports

June Imports Grow 5.9% at Top 10 U.S. Ports

Imports to the top 10 U.S. ports grew by 5.9% year-on-year (y/y) to 2.16 million twenty-foot equivalent units (TEUs) in June despite recessionary concerns, according to The McCown Report. The growth has exceeded the 3% y/y gain in May and 5.1% gain in April.

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US truck freight recession is here, but not to stay: SMC3

US truck freight recession is here, but not to stay: SMC3

Consumers are spending more on services than goods, US manufacturing has slowed, residential housing construction is in recession, and big-box retailers have overstocked inventories. “You add all that up, and you have a freight recession,” Costello said.

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