[FFW News] Postal Service raises shipping rates

Welcome back to Freight Weekly

🦃Thanksgiving is this week for our U.S. readers. Also, Black Friday…ready?🦃

Need more news and freight industry intelligence? Check out the Freight Forward newsletter exclusively on LinkedIn. Freight Forward is an authority written and compiled by veteran supply chain writer and researcher Cathy Morrow Roberson. Boxy, and I even read it. Be sure to subscribe and enjoy it.

📈 BY THE NUMBERS: Important numbers impacting freight and logistics

⛽ Diesel: $4.209 gal (🔽from $4.294 last week) - Source: EIA

✈️ Air Cargo Index (Oct ‘23): 165.1 (🔽from 166.9 in Sep ‘23) - Source: FRED

🚢 Global Container Index: $1,157.36 - Source: Freightos

Logistics News for Nov. 21, 2023

📨US Postal Service to raise shipping rates in 2024

United States Postal Service announced it will boost shipping rates in 2024 for the agency’s ground advantage and priority mail services. The Postal Regulatory Commission is currently reviewing those prices. A release by the USPS states: “Unlike some other shippers, the Postal Service has upfront pricing and does not add surcharges for residential and regular Saturday delivery, nor fuel." More…

🆙Twin ports of Long Beach and Los Angeles see volume rebound

The Ports of Long Beach and Los Angeles saw cargo volume rebound in October. Long Beach managed to climb 14.7 percent year-over-year in volumes. The Los Angeles port authority reported an increase of 7 percent increase year-over-year. Long Beach still is down 17.8 percent from 2022. LA is down 16.6 percent. Read

in similar news…

🫰🏼Port of LA’s Gene Seroka: A return to normal for shipping

Gene Seroka, the executive director of the Port of Los Angeles authority, testified to industry stakeholders that container volumes return to normal, or at least pre-pandemic volumes. The coastal gap, the shift between cargo volumes between the two coasts of North America, is starting to shift back towards the West. More

🛠️Federal government says highway construction costs continue to soar

The Federal Highway Administration estimates that highway construction projects across the United States have risen by 53.8 percent in Q1 2023 from $2.86 billion in Q4 of 2020. The administration blames rising inflation for taking a bite out of funding for highway construction projects and grants. Read more…

🛬Large freight forwarders are driving demand for air freight volumes

According to a news report published in The Loadstar, larger freight forwarders that have been very slow to embrace e-commerce are apparently leading in the demand for air freight. Air freight rates between China and the US rose by 14 percent. European rates rose by 11 percent. The demand is driven by the lift in e-commerce over legacy B2B general cargo shipping volumes. Read the report…

🤦🏽We missed it…🤦🏽

“The government trusts the rail companies to fix the underlying problems on their own, to heed the warnings of workers like Haynes of loose hoses that could impair brakes or rotting tracks that could cause derailments. Unless those mishaps result in major injuries or costly damage, the companies don’t have to report them to anyone.”

from “Do Your Job.” How the Railroad Industry Intimidates Employees Into Putting Speed Before Safety - Pro Publica, Nov. 15, 2023

☕Other stories we are reading this morning…☕

• “Schumer calls for USDA investigation into nationwide milk carton shortage” - Supply Chain Dive

• “Why Americans feel gloomy about the economy despite falling inflation and low unemployment” - Associated Press

• “Yellen Says US Making ‘Considerable Progress’ Reducing Inflation” - Bloomberg

• “Battered but not beaten: air cargo’s turbulent descent from Covid-era highs” - Flight Global

Compiled by Michael McGrady – news analyst and writer.

Do you have a tip? Feedback? Email him – [email protected]