Global Labor Rates: China is no longer a low-cost country
WEBThe race to manufacture and source products in China started in the late 1990s and continued for two decades.. As China ascended to the World Trade Association in 2001, accessibility of this low-cost labor and low-cost operations country looked very attractive to global manufacturers, and many companies set up factories in China or began sourcing Chinese parts and products.
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WEBSeptember 20, 2024. Trade downs to more cost-effective services were a key factor in declining fiscal first quarter earnings, Memphis-based global freight transportation and logistics services provider FedEx reported late yesterday. Quarterly revenue, at $21.6 billion, was down 0.5% annually, and operating income, at $1.21 billion, was off 24%.
Top 30 Ocean Carriers: Riding high on wave of profits
WEBThis is a time of highly disrupted supply chains compounded by cascading issues. Yet ocean carriers are riding a high wave of unprecedented record profits. Maersk, now the world’s second largest shipping company, reported second quarter 2022 revenues of $21.7 billion, marking a 52% increase compared to the same period of 2021.
Top 50 Third Party Logistics (3PL) Providers 2022: 3PLs face big ...
WEBJust when the world’s third-party logistics (3PL) providers thought they had seen the worst of the supply chain chaos, Russia invaded Ukraine and China implemented lockdown measures in Shanghai. “The year 2021 was an interesting for both ocean and air,” reflects Tim Scharwath, CEO of DHL Global Forwarding.. “But within the first two-and-half months of 2022, things became worse.
2020 Top 30 Ocean Carriers: Higher profits as demand ramps up
WEBOct 5, 2020 — Following a six-month lull in shipper demand during the heightened COVID-19 crisis, container volumes are now surging as consumer confidence strengthens, manufacturing ramps up and retailers seek to rebuild their inventories.. Maritime industry analysts for the London-based Transport Intelligence (Ti) note that ocean cargo carriers may finally be seeing some brighter days ahead.
Global Logistics: Challenges in our changing world
WEBThe COVID-19 pandemic set in and made a massive impact on global trade and amplified existing logistics challenges around the world; lockdowns triggered rapid growth in e-commerce, putting additional strain on already strained freight networks; and a last-minute Brexit deal was finally reached following a few chaotic weeks at the UK border.
Maersk announces it is set to acquire Pilot Freight Services
WEBFeb 9, 2022 — Earlier today, Copenhagen, Denmark-based A.P. Moeller Maersk, an integrated container logistics services provider, announced that it intends to acquire Glen Mills, Penn.-based 3PL, last-mile and full mile services provider Pilot Freight Services, from Pilot’s owners, New York-based private equity firm ATL Partners, and Canadian institutional ...
Top 50 Trucking Carriers 2022: Pedal to the metal
WEBApr 1, 2022 — ABF Freight System, the nation’s 7th-largest LTL carrier, achieved an 89.9 operating ratio for last year. As a result of the Teamsters’ profit-sharing plan with ABF, that kicked in a 3% bonus for all covered ABF employees on top of their yearly earnings, estimated to be at least $70,000.
Top U.S. logistics companies lead in brand recognition and value, …
WEBMar 5, 2018 — UPS and FedEx again placed 1-2 in a prestigious new international survey of the most trusted and important brands in worldwide logistics. In the fourth year of London-based Brand Finance’s valuation of logistics brands, American-based companies filled out four of the top six slots and seven in the Top 25.Brand Finance publishes over 3,500 brand valuations from more than 30 industries every ...
Cold Chain: Despite challenges, continues to evolve
WEBSep 6, 2022 — On July 21, Arcadia Cold Storage and Logistics broke ground on a property purchased from Saxum—a 227,500-square-foot distribution center in Hazleton, Pa. The facility will offer 30,884 pallet positions, an inside temperature ranging from -10 degrees to 38 degrees, along with convertible rooms, dock space and doors to manage an array of ...