LinkedIn Postings Archives - Synchrogistics

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According to the latest analysis by FTR, the FMCSA approved 5,187 new carriers in March while revocations came in at 5,034 resulting in a net increase of 153. While it’s a small increase and only one month, this marks the first time since March 2023 that the number of companies increased. Overall, the pace of capacity attrition has decelerated in 2024, with 1Q24 seeing the fewest carrier exits since 4Q22. At the same time, the ISM emerged from 16 straight months in contraction territory, led by Production and New Orders. These two components are drivers of freight demand.  
 
What does this mean? 

  • Shippers: Continued uncertainty! Carriers exiting the market generally lead to higher spot markets, so if the carrier population stabilizes, we expect rates to not increase as fast. However, if manufacturing increases the number of shipments on the market, then we have more demand and stable capacity, leading to higher prices. 
  • Rates: Broker-posted spot rates have risen for four straight weeks in the Truckstop system for the first time in two years. Of course, the rate increase was 6 cents, so not a hockey stick. Still too early to call this a shift in the market.
  • Existing Carriers: Strong operators are hanging in there and finding opportunities with strong shippers and 3PLs like Synchrogistics.

Overall, uncertainty continues to govern the freight market. Continued shipment growth may yet push rates up, but it feels like forecasters have been saying that for over a year now…. For regular updates and freight industry insights, follow us on LinkedIn!

References:

  • FTR Data Analysis

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According to FTR’s latest forecast, total truck loadings in 2024 are expected to increase by 0.8%. While there will be fluctuations, the industry will remain stable. Are you interested in the key statistics and which sectors could be the most impacted by this forecast? Let’s dive in!

Key stats:

  • Dry van loadings: 1.1% y/y increase
  • Refrigerated loadings: 2.7% y/y increase
  • Flatbed loadings: 0.6% y/y increase
  • Specialized loadings: 0.3% y/y growth
  • Tank loadings: No growth y/y
  • Bulk/dump loadings forecast: 0.4% y/y growth

Sectors this may impact:

  • Food & Packaged Goods: Anticipate a substantial 2.7% year-over-year rise, driven by increased fruit shipments. Potential disruptions in refrigerated transport could lead to price fluctuations and shortages.
  • Construction: Flatbed shipments may experience a slight dip at 0.6% year-over-year, primarily due to slower growth in building materials. Construction projects could face delays as essential supplies take longer to reach their destinations.
  • Automotive: Dry van shipments are poised to grow by 1.1% year-over-year, signaling a promising outlook for the automotive industry. However, any transportation disruptions could result in extended wait times for car parts and repairs.

We hope this overview provides valuable insights into the trucking industry. Be sure to visit our LinkedIn page and website for more forecast updates.

References: Freight Transportation Research Associates, Inc. (FTR) 


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The collapse of Baltimore’s Francis Scott Key Bridge is causing major disruptions in the global supply chain, impacting both international and national trade routes. Here’s what you need to know:

International Impact: The Port of Baltimore is crucial in global trade, especially for importing and exporting finished autos and light trucks. With $23.5 billion worth of imports in 2023, trading partners like Germany, Mexico, Japan, and the UK are affected. Delays in shipments could lead to wait times for high-end European cars and affect exports to countries like Australia and the UAE.

Freight Rate Surge:  Freight rates from Asia to the U.S. have doubled since the incident, reflecting the strain on transportation networks. This surge is amplified by the ongoing disruptions of the Houthi rebel attacks in the Red Sea.

National Disruptions: The collapse has led to congestion, price uncertainty, and delays for importers and exporters relying on efficient routes through the Baltimore Port. Smaller ports are picking up volume as ships reroute, adding to the challenges of logistics operators.

Agricultural Implement Impact:  Baltimore is a leading Roll-on Roll-off (Ro-Ro) port for agricultural machinery imports and exports. This could delay the shipment of farming equipment such as combines, large tractors, and balers. Farmers should expect to face delays as the upcoming planting season approaches.

The uncertain timeline for bridge restoration indicates businesses must adapt quickly. Diversifying transportation routes, optimizing inventory management, and negotiating with suppliers and carriers are helpful strategies to mitigate the impact. Stay tuned to our social platforms for more industry updates and logistics insights!

(Resources: Jason Miller and TTNews)


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Companies with substantial LTL freight budgets are looking for ways to lower expenses and boost service efficiency. One strategy gaining traction is the consolidation of Less-Than-Truckload (LTL) shipments into multi-stop truckloads, which provides cost savings and a variety of operational improvements.

  • Cost Savings: On average, Synchro clients have seen a reduction of 5% to 15% in their LTL spend.
  • Indirect Savings: The consolidation process leads to fewer labor hours spent on handling pallets for LTL shipments, translating into significant labor cost savings.
  • On-Time Tracking Improvement: Tracking a single truckload is simpler and more efficient than monitoring multiple LTL shipments, leading to better on-time delivery rates.
  • Yard Efficiency: With fewer trucks entering and exiting the yard, businesses can experience a smoother flow of goods and reduced congestion.
  • Claims Improvement: By minimizing the handling of freight and avoiding LTL cross-docks, the risk of damage during transit is significantly reduced, leading to fewer claims.
  • Environmental Savings: Consolidation results in fewer trucks on the road, which in turn reduces carbon emissions and contributes to sustainability efforts.
  • Savings in Refrigerated Freight: For businesses dealing with refrigerated goods, LTL consolidation can lead to savings of over 20%, making it a highly cost-effective option.
  • Leverage with LTL Vendors: demonstrating that you can remove freight from higher-cost vendors leads to discussions with the vendor about lower costs and a better partnership.

By embracing LTL consolidation, businesses can not only enjoy substantial cost savings but also contribute to a more sustainable and efficient supply chain. Synchrogistics has the experience and team to implement an optimization program for you. Reach out to us for a free optimization assessment.


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By converting multiple less-than-truckload (LTL) shipments into a single, cost-effective truckload, LTL consolidation significantly reduces shipping costs per pound. This method enhances cost savings, decreases claims, and simplifies shipment tracking compared to managing individual LTL shipments. Despite its benefits, many companies overlook LTL optimization due to perceived complexity, technological constraints, previous failures, internal opposition, or unawareness of its potential.

Synchro has been a leader in LTL consolidation for over a decade, skillfully managing both refrigerated and dry freight for clients from varied locations and technological backgrounds. Our unique combination of experience and technology provides an unparalleled advantage. To explore how LTL consolidation can benefit your company, consider Synchro’s offer for a free consolidation assessment.

Learn how our specialized approach can streamline your shipping processes and unlock substantial savings.


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Three bullet points about LTL pricing and long-term capacity. As shown in the chart below, fuel prices and Yellow’s exit have produced an increase in LTL pricing. However, how long it lasts is another question…

1.  Yellow Freight’s Impact: The demise of Yellow Freight in August took 10% of industry capacity offline, which provided a backstop against the price erosion seen over the last 12 months. However, the distribution of its market share has not been uniform. Carriers with more pricing and footprint overlap have benefited more, with Saia and XPO being notable gainers among public companies.

2. Pricing and Capacity: The worries about overcapacity have been somewhat allayed by Yellow’s exit. Carriers are trying to hold the line on GRIs and are more aggressively going after rate increases on less profitable customers. However, the tea leaves are not looking positive for LTL volumes to increase meaningfully in the near-term – ISM new orders are still in contraction territory (though it’s improving from earlier this year). We see a balanced pricing environment in the LTL space in the coming months.

3. Terminal Capacity: Longer term, terminal capacity in the industry remains constrained due to significant inflation in real estate prices. Carriers have been cautious in expanding, and the sale of Yellow’s real estate portfolio is expected to take time and require renovation. Net fixed capacity in the industry is believed to be declining. As e-commerce increases and (hopefully) the economy improves, terminal capacity could become a bottleneck leading to higher LTL rates in 2024 / 2025.

Source: US Bureau of Labor Statistics Data