Transportation TIP List: Week of June 30th, 2019
As you look forward to the hot dogs, hamburgers and potato chips that are sure to be present at your Fourth of July celebration this week, we wanted to serve up some sizzling trends within the industry. This week’s TIP List includes stories about increased cargo thefts during the Independence Day holiday and some of the ways that Chinese exporters are avoiding American tariffs. Read on to see what’s cooking in the industry!
- Cargo Theft Firms Warns Against Increased Theft Activity During July 4 Holiday: As Independence Day approaches, truck drivers are being warned of increased cargo theft activity. CargoNet defines the Independence Day holiday as July 1-7 and has recorded 107 theft events in 25 states and provinces in the U.S. and Canada during that period over the last six years.
- American Tariffs on China Are Being Blunted by Trade Cheats: Billions of dollars’ worth of China-made goods subject to tariffs by the Trump administration in its trade fight with Beijing are dodging the China levies by entering the U.S. via other Asian countries such as Vietnam, according to trade data and overseas officials.
- June No Boon for Rail Traffic: For the week ended June 22, 2019, U.S. weekly rail traffic was 525,116 carloads and intermodal units, down 5.8% compared with the same week last year. Total carloads for the week were 257,836 carloads, down 4% year-over-year, while U.S. weekly intermodal volume was 267,280 containers and trailers, down 7.5% compared to 2018.
- Supply Chain Risk Keeps Many U.S. Companies Out of Emerging Markets: According to a recent survey, a majority of U.S. companies (82%) would like to expand into new markets. However, 55% of U.S. business decision makers said political uncertainty and its impact on their supply chains is a key factor holding them back.
- FTR’s Shippers Conditions Index Took a Step Back in April: FTR’s April Shippers Conditions Index (SCI) took a step back in April to a reading of 1.9, close to a full point below March. The April SCI measure was negatively affected by stronger rail rates and higher fuel prices outweighing improved shipper conditions related to trucking.
What transportation trends are you following this Independence Day?