June 2023 Industry Updates

Truckers threaten to boycott Florida over migrant crackdown (Freight Waves)

In response to Florida’s recently passed state law targeting undocumented immigrants, some truck drivers are threatening to boycott freight movements into and out of Florida.

HMM says will take ‘cost-cutting measures’ after plunge in Q1 financials (Journal of Commerce)

After poor first quarter financials, many shipping lines are cutting costs, applying blank sailings, and re-focusing on profitable routes.

U.S. West Coast ports regain lost volume as competitive pressure mounts (Reuters)

Importers that had previously diverted shipments away from U.S. West Coast ports due to ongoing labour contract negotiations are slowly bringing that volume back.

B.C.'s Trade Diversification Strategy (Government of British Columbia website)

The BC government is offering support to help bolster export development and investment in new markets like Mexico, Taiwan, and Vietnam.

Carriers pare blank sailings in May as ocean freight rates steady (Journal of Commerce)

After cuts to trans-Pacific vessels services in April, ocean carriers have backed off in May as rates appear to have found a floor.

US truckload market ‘bouncing’ along pricing bottom: analysts (Journal of Commerce)
After falling truck rates for more than a year, the US truckload spot market seems to have bottomed out.