Transportation TIP List: Week of April 22nd, 2018
Spring has officially sprung! Just in time for the recent beautiful weather, this week’s TIP List includes some of the freshest trends playing out in transportation. Picked directly from the headlines, The International Maritime Organization is working to cut CO2 emissions from ships, fuel prices are soaring to a three-year high and Canadian manufacturing sales are seeing a serious boost. Find out what industry trends are blooming below!
- Canadian Manufacturing Sales Up 2%: According to data from Statistics Canada, Canadian manufacturing sales increased 1.9% to C$55.8 billion in February following two straight monthly declines. The growth was due mainly to higher sales in the transportation equipment industry.
- First-Ever Agreement to Cut Global Shipping Emissions Finally Reached: The global shipping industry has never united behind a collective agreement to cut greenhouse gases—until now. The International Maritime Organization recently approved a strategy to cut emissions from ships, with the end goal of eliminating CO2 emissions altogether by 2100.
- Fuel Prices Soar to Three-Year High: A 6.1-cent jump in diesel fuel prices across the country during the week ending April 16 has diesel at its highest point of 2018. This is also its highest since the week ending Jan. 5, 2015, when diesel averaged out at $3.137.
- 3PLs Keep Investing in Tech as Shippers’ Expectations Grow: According to the 2018 Freight Visibility Report from the Transportation Intermediaries Association, 3PLs are investing heavily in technology to deliver the enhanced freight visibility and business intelligence that is increasingly required by shippers.
- U.S. Exports Decline — Even Before China Tariff Impact: U.S. exports fell 3.6% in the first two months of the year to 2 million TEU, boding poorly for outbound volume for the rest of the year. Due to escalating trade tensions between the U.S. and China, 6.6% of U.S. exports could be subjected to Chinese tariffs.
What transportation trends are you anticipating this spring?