Trucking
The Wall Street Journal Jennifer Smith February 15, 2021
A slice of the trucking industry critical to retail and industrial supply chains is on a roll as the pandemic-driven boom in online shopping reshapes U.S. distribution maps.
Companies that used to ship truckloads of merchandise to big, remote distribution centers are opening compact warehouses in cities and suburbs, where space constraints require smaller and more frequent shipments to keep goods in stock.
“The large online retailers are opening warehouses weekly and those warehouses are getting closer and closer to the population centers,” Yellow Chief Executive Darren Hawkins said. “And when they open it, we’re stocking it.”
Freight Waves Todd Maiden February 15, 2021
Less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced a 4.9% general rate increase Monday for freight carried under various general tariff codes. The increase will be effective March 1.
The rate bump follows similar announcements from LTL carriers in recent weeks. The majority of the increases are in the 5% to 6% range, likely indicative of tightening LTL capacity and a rate-disciplined environment.
Industry
Freight Waves Noi Mahoney February 15, 2021
In 2020, Laredo, Texas, once again led the U.S. in exports, according to the latest Census Bureau data analyzed by WorldCity.
Port Laredo finished on top of the rankings for exports for the second straight year, totaling $80 billion in outbound shipments during 2020.
Laredo’s top 10 exports were motor vehicle parts ($8.9 billion), engines ($3.4 billion), gasoline ($3.1 billion), engine parts ($1.2 billion), plastics ($1.1 billion), cell phones ($1.1 billion), taps and valves for pipes ($1 billion), chemical reaction initiators ($978 million) and computer chips ($944 million).
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