Shipping news for the first quarter of 2015 is focused on rate changes, the west coast port conflict, roll-out of new operational changes at USPS, and movements on the labor front. With the end of year hustle for most shippers, it can be hard to get ready for the new year and keep an eye on the news. Part of our job at Pacejet is to stay on top of industry trends, technology changes, and industry influencers, so we thought we'd share some of our news scanning with you.
Read on for more shipping news in the first quarter of 2015 ...
Top Stories for the First Quarter of 2015
Most of the top shipping stories for the first quarter of 2015 (so far) have been focused on rule changes, rate changes, and some operational changes with USPS. Of course there is plenty happening in the area of acquisitions and workforce management. Some of the top stories include:
- Carrier dimensional weight rule changes have rolled out! Pacejet covered how to get ready for the new dim rules if you missed it.
- 2015 may be year to see more dimensional LTL rating, more shippers are dissatisfied with rate inaccuracy from old class and FAK system
- 2014 online sales up double-digit, overall retail meets forecasts, in case you missed the results. Looks like Black Friday fatigue played a role.
- FedEx is increasing fuel surcharge rates on Feb 2 from 4.5% to 6.6%, after losing money from fuel surcharge revenue due to falling oil prices.
- USPS revenue increased based on +18% holiday package surge, but not enough to offset budget woes. The postal service is moving ahead enacting cuts that will slow delivery for 14 billion pieces of First Class mail.
- Goldman Sachs forecasts the economy will add 300,000 jobs, if oil stays near its current price. Carriers are increasing compensation and hiring.
- Federal mediator stepping in to help resolve West Coast port labor conflict, as sides struggle to move past temporary extensions.
- Many LTL/Freight carriers are rolling out rate increases, as the economy improves and as they feel better about capacity management.
- FedEx Freight and Con-way and union elections, two of the largest non-union carriers in the U.S. are seeing Teamster unionization votes.
- CH Robinson announced it will acquire FreightQuote.com for $365M
Additional Resources and Links
Interested in reading more on your own? Here are some links to stories and online sites that might be of interest to you.