International trade practices by US importers and exporters are “laughably archaic” say respondents to logistics technology provider Freightos’ latest industry survey. With small businesses accounting for a third of total US imports, “a whopping 50% still rely on spreadsheets to manage shipments”, Freightos said after its survey of more than 500 companies.
A complete transformation of how ports operate is on the horizon, according to Bret Greenstein, Vice President of Watson Internet of Things (IoT), Consumer Offerings, IBM. Over the past few years, IBM has partnered up with industry majors such as Maersk Group and CMA CGM in order to digitize their ways of doing business.
Crude climbed the most since December as a recent buildup in U.S. storage tanks and terminals appears to be slowing down. Futures gained 2.4 percent in New York on Wednesday after a government report showed American oil inventories rose by 1.84 million barrels last week. That was lower than all but two of 11 estimates […]
Faster-than-projected U.S. inflation and an unexpected decline in retail sales at the start of the year may cause some indigestion on Wall Street, but probably don’t mean much pain for the economy.
What the Black Friday to Christmas rush is to most retailers, spring is to home improvement retailers like The Home Depot and Lowe’s. The Home Depot said on Wednesday it would hire 80,000 season workers for its peak season, equivalent to adding 20% to its workforce, while Lowe’s said last month it would hire 53,000 […]
A new report said President Trump will release his infrastructure proposal on Feb. 12. At last month’s State of the Union address, Trump called on Congress to pass a bill of at least $1.5 trillion and to ease the regulatory review process for infrastructure projects.
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending February 3, 2018, as well as volumes for January 2018. U.S. railroads originated 1,217,405 carloads in January 2018, down 3.4 percent, or 42,431 carloads, from January 2017. U.S. railroads also originated 1,310,141 containers and trailers in January 2018, up 3.5 […]
BNSF Railway Company announced it recently became the first Class I railroad to join the Blockchain in Transport Alliance (BiTA), comprising more than 200 freight transportation companies working to develop blockchain standards for the logistics industry and the supply chain as a whole.
The International Air Transport Association (IATA) recently released full-year 2017 data for global air freight markets showing that global demand grew by 9.0%. This was more than double the 3.6% annual growth recorded in 2016
Last year ushered in the formation of three major ocean carrier alliances, all with the hope that this dysfunctional transportation sector would at long last begin to find a way to provide shippers with sustainable service while managing to keep its capacity in check.
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