The economy is never out of focus in the shipping and logistics industries, and recent news shows the road ahead is neither simple nor expected.
The domestic market continues to recover slowly, with a mix of enterprise sales and consumer spending shoring up the foundation. As the call for new goods and services rises, load and mode shifts seem inevitable and 3PLs must step up to the plate to monitor forecasts and take advantage of changes.
Here are some key trends we’re keeping our eyes on.
Import Prices Tick Up
In July, U.S. import prices rose by 0.2%, the first positive increase since February. Overall, prices are still down roughly 1.7% since February.
Exports, on the other hand, saw prices drop by 0.1% in July, led by agriculture price declines – fruits and wheat in particular.
It isn’t earth-shattering news, but it bucks a trend and is worth monitoring because what’s on the rise will directly impact the shipping industry. Fuel imports had the biggest gains, roughly 2.5%, a heavier blow after a roughly 1% decline in June.
Imports from Mexico saw some of the largest gains with prices rising an average of 0.5%.
July Truck Freight Breaks a 16-Year Trend
July’s spot market freight volume increased by 0.4% compared to June, going against the July drop-off that has been the norm since 1996. While the gain is modest, the transition normally sees a roughly 20% decline.
The DAT North American Freight Index also showed a 13.3% year-over-year increase, led by double-digit increases in flatbed freight and reefer trailers.
Spot market freight normally peaks in June, but this year’s weather has caused delays in housing construction start dates and produced an extended harvest in the Midwest, leading to flatbed and reefer gains, respectively.
Domestic Rail’s Ups and Downs
In August, domestic rail traffic saw a slight increase compared to the year before, which the Association of American Railroads says was led by a strong single-digit increase in intermodal units. Total carloads are roughly flat compared to 2012.
Petroleum and industrial mineral carloads each saw double-digit increases while autos rose more than 5%, but, again, decreases in grain mitigated other gains.
Rail companies in Canada and Mexico also saw increases in their own domestic operations. Overall, Canada saw a 4.7% increase in traffic and Mexico rose 4.2%, both led by solid gains in carloads.
Changing a Harbor Taxes for an Import Fee
In terms of economic trends coming down the pike, it is hard to look away from potential legislation that may remove the existing harbor maintenance tax in favor of a more general fee on imports.
Senators Patty Murray and Maria Cantwell of Washington state have said they will propose changing the existing harbor maintenance tax on imports to a “Maritime Goods Movement User Fee” that would be applied to all U.S.-bound cargo, regardless of how it enters the country.
The senators are trying to combat carriers moving goods through ports in Canada and Mexico and then bringing goods through via truck and rail. The change would put U.S. ports on a more even footing instead of maintaining a law that hurts American ports, says Sen. Murray.
The cost shift would have a significant impact on importers and will also change the dynamic exporters experience at ports, from available equipment and times to changes in inspection schedules due to increased traffic.
via Business 2 Community http://www.business2community.com/world-news/rough-tumble-economic-shifts-shippers-0629525?utm_source=rss&utm_medium=rss&utm_campaign=rough-tumble-economic-shifts-shippers
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