Plus: Ten Oaks issues statement following USLS closure, a new bill to combat cargo theft is introduced, and year-over-year trucking costs increased by 6.6%.
Amazon unveils plans for a low-cost storefront featuring Chinese sellers' products, aiming to compete with Temu and Shein in the U.S. market.
ATRI report reveals a 6.6% increase in trucking operational costs during 2023 freight recession. Here's a breakdown of the numbers.
On June 28th, the logistics industry takes center stage. These unsung heroes move 226M containers and $4T in goods annually.
June 28th is National Logistics Day! Today is a day to celebrate that hard-working people who keep goods moving.
"90 percent of Fortune 500 companies use third-party logistics pros. Talk about being in demand!" - Anne Reinke, TIA President
But now is also the time to highlight specific legal actions being taken in the sector.
"Effective anti-fraud measures are crucial for protecting the interests of brokers, motor carriers and shippers." - Anne Reinke, TIA President
Anne Reinke's Full Statement:
As we approach the 6th annual National Logistics Day on June 28, now's the time to celebrate the achievements and contributions of our logistics industry. The logistics industry, comprising of more than 28,000 companies in the U.S. and valued at $343 billion, transports more than 226 million containers – which is more than $4 trillion of goods. In fact, 90 percent of Fortune 500 companies use third-party logistics professionals to facilitate the movement of their goods, highlighting the critical importance of logistics in maintaining efficient and responsive supply chains. This day not only recognizes the resilience and innovation within our industry but also highlights its vital role in supporting both national and international commerce.
The recent introduction of the Household Goods Shipping Consumer Protection Act represents a significant milestone in addressing fraud within the logistics sector. By expanding the authority of the FMCSA to assess penalties for violations related to the shipping of household goods, this legislation aims to deter fraudulent activities that compromise the integrity of the supply chain and erode consumer trust. Effective anti-fraud measures are crucial for protecting the interests of brokers, motor carriers and shippers while ensuring a stable and predictable economic environment. TIA commends D.C. Del. Holmes Norton and Rep. Ezell for their leadership on this issue and is committed to supporting the swift passage and implementation of this pivotal legislation.
FreightCaviar wants to give a shout-out to all the unsung heroes of freight: handling each unexpected twist and turn, battling severe weather and criminal interlopers, and making sure the world keeps turning day after day.
"Our inaugural Media Day at the 2024 Capital Ideas Conference is a proud moment to spotlight the diverse and innovative companies driving the logistics industry forward,” said Anne Reinke, TIA president & CEO.
The impressive third-quarter surge in freight activity paralleled a 4.9% increase in U.S. real gross domestic product (GDP) during the same quarter.
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