<div class="phx-topic abstract-wrapper">After years of consumer retrenchment, especially on big-ticket purchases, the improving U.S. housing market is fueling demand for household appliances such as dishwashers, refrigerators, air conditioners, ovens, stoves and washing machines.</div>

After years of consumer retrenchment, especially on big-ticket purchases, the improving U.S. housing market is fueling demand for household appliances such as dishwashers, refrigerators, air conditioners, ovens, stoves and washing machines.

<div>After years of consumer retrenchment, especially on big-ticket purchases, the improving U.S. housing market is fueling demand for household appliances such as dishwashers, refrigerators, air conditioners, ovens, stoves and washing machines.Imports accounted for 70.5 percent of the 43 million units of major home appliances shipped in the U.S. last year, according to Laura Spingola, founder and president of Trade Resources, a Chicago-based market development company. The number of units imported increased 11.1 percent last year. The top six supplier countries account for 99 percent of those imports.“China is the big elephant here,” Spingola said. “Even if we think they are...

After years of consumer retrenchment, especially on big-ticket purchases, the improving U.S. housing market is fueling demand for household appliances such as dishwashers, refrigerators, air conditioners, ovens, stoves and washing machines. Imports accounted for 70.5 percent of the 43 million units of major home appliances shipped in the U.S. last year, according to Laura Spingola, founder and president of Trade Resources, a Chicago-based market development company. The number of units imported increased 11.1 percent last year. The top six supplier countries account for 99 percent of those imports. “China is the big elephant here,” Spingola said. “Even if we think they are not shipping as much to us, in fact they are.” China accounts for 74 percent of U.S. appliance imports, followed by Mexico with 14 percent; South Korea, Canada, Malaysia, all with 3 percent; and Thailand with 2 percent. U.S. unit sales of six major appliances, including washers, dryers, dishwashers, refrigerators, freezers, ranges and ovens, increased 5.5 percent year-over-year in the first quarter of 2013, according to data provided by the Association of Home Appliance Manufacturers. But imports fell 1.6 percent in the quarter, Spingola said. “There might have been inventory issues. The second quarter will tell us a lot more,” she said, adding she expects imports to grow this year in line with the increase in housing starts and as consumers start replacing and upgrading their appliances. U.S. exports of appliance units increased 8.3 percent last year. The top six overseas markets, which account for 78 percent of U.S. appliance exports, are Canada with 56 percent, Mexico with 10 percent, Venezuela with 4 percent, Australia and Saudi Arabia, each with 3 percent, and China with 2 percent. “China is coming on as a buyer as its middle class grows,” Spingola said. Read more about the JOC’s Top 100 U.S. exporters During the downturn in appliance sales following the Great Recession, appliance-makers hunkered down and cut costs. Some U.S. manufacturers shifted production to lower-cost locations out of the U.S., while others relocated foreign production to the U.S., where they retooled factories to cut costs with capital-intensive robotic production lines. Whirlpool, one of the five biggest appliance-makers and No. 21 on the JOC’s ranking of Top 100 Importers , closed some manufacturing facilities in North America and moved to lower-cost countries such as Mexico. But GE, which sought but failed to find a buyer for its appliance division in 2008, invested $800 million to breathe new life into what was a moribund Appliance Park in Louisville, Ky., where the 16th-largest U.S. importer uses robotics to produce washers and dryers. Swedish manufacturer Electrolux, the JOC’s No. 31-ranked importer last year, invested $190 million in a new plant in Memphis that makes ovens and ranges with robotics on its assembly line. It replaces the Electrolux plant in Quebec. At the same time, imports of appliances made overseas are making significant inroads into the U.S. market. Lowe’s, a big retailer of home appliances and No. 5 on the Top 100 Importers list, is seeing increasing demand for products produced by South Korean manufacturers LG and Samsung. “We’re rolling out LG in our stores, Lowe’s President and CEO Robert Niblock said at a UBS conference this spring. “A number of customers have come into our store … asking for the LG brand, and we didn’t have it. It’s the fastest-growing brand in appliances, followed by Samsung, which we already have. So we think it’s going to be a great success.” Read more about the JOC’s Top 100 U.S. importers Arch-competitor Home Depot, the No. 3 importer, is introducing Electrolux appliances in its store this year, including ovens, refrigerators, freezers, dishwashers and laundry machines under the Frigidaire and Electrolux brands. In anticipation of a sales slump caused by last year’s congressional impasse over the fiscal cliff, retailers reduced appliance inventories in the fourth quarter. But once that hurdle was resolved in December, retailers started restocking inventories in the first quarter of this year. “Industry sell-through for the quarter was actually in line with our expectations and our full-year industry guidance of plus 2 percent to plus 3 percent,” Whirlpool North America President Marc R. Bitzer said in the company’s first quarter earnings conference call. Contact Peter T. Leach at pleach@joc.com and follow him at twitter.com/petertleach .

Transport, Trade and Regulation News

US Housing Upturn Builds Demand for Durable Goods

<div class="phx-topic abstract-wrapper">Consolidation in container shipping over the last two decades and better capacity management in recent years show that the old ways of looking at vessel capacity are outdated, writes Journal of Commerce Executive Editor Mark Szakonyi.</div>

Consolidation in container shipping over the last two decades and better capacity management in recent years show that the old ways of looking at vessel capacity are outdated, writes Journal of Commerce Executive Editor Mark Szakonyi.

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<div class="phx-topic">The conventional thinking is that container lines are heading for another down cycle due to mounting overcapacity and weakening global demand. After record profits during the COVID-19 pandemic era and $60 billion more in 2024, JP Morgan in a March 17 research note said it thinks the industry is “entering a multi-year period of losses.” That may very well be how this year and 2026 shake out. But a scenario in which external factors keep restraining effective container shipping capacity and carriers muster enough pricing discipline isn’t outlandish, either. <div class="wrapper-narrow float-right-element"><img src="/images/phoenix/5970290_0.1.jpg"></img></div>Internally, thanks to consolidation over the last two decades and better capacity management in recent years, whether through blank sailings or holding firm on contract allocations when space gets tight, the old ways of looking at capacity aren’t relevant. Even so, the size of the current order book is daunting, with new orders representing a quarter of the existing fleet, according to S&amp;P Global’s Sea-web, a sister company of the Journal of Commerce. Maersk CEO Vincent Clerc said approximately 2 million TEUs of capacity will be delivered this year, equating to 6% of the existing fleet, according to Sea-web. Another 1.5 million to 2 million TEUs could be released whenever the Red Sea reopens to commercial traffic, Clerc said during the company’s first-quarter earnings call Feb. 6. The industry’s return to Suez Canal transits is expected to cause three to six months of disruption, with ships repositioning and causing bunching at European and US East Coast ports, ultimately reducing effective capacity. “The overcapacity anticipated last year has been delayed to 2025, but the supply-demand equation is much more nuanced and benign than what we had in front of us just a year ago before the outbreak of the Red Sea disruption,” Clerc told investors. He added that Maersk expects stronger global demand in 2025 than last year, expanding at 4% — in line with the market — despite the US slapping tariffs on goods from China, Europe and other trading partners. <h3>Red Sea factor is ever-present </h3>So much depends on when the container shipping industry deems it safe to route through the Red Sea. US President Donald Trump’s decision to move a second aircraft carrier to the Middle East on March 23, a week after his order of strikes on Houthi-held areas in Yemen, may not open the waterway as he hopes. “The resumption of US airstrikes significantly increases the likelihood of further Houthi attacks on US and US-allied naval assets in the Red Sea and Gulf of Aden — representing a severe risk to all vessels in transit due to uncertainties around Houthi targeting selection,” said Jack Kennedy, head of Middle East and North Africa country risk at S&amp;P Global Market Intelligece. Kennedy said it was unlikely that the US would be able to “restore unchecked freedom of navigation” in six months by pressuring Iran to stop helping its Houthi proxies. He doubts that the US can uproot the Houthi without help from the UAE and Saudi Arabia, a move that would most likely trigger retaliation from the Houthis. The Israel-Hamas ceasefire, announced Jan. 15, initially raised hopes of a return to Red Sea transits, Jeremy Nixon, CEO of Ocean Network Express (ONE), said Monday at Singapore Maritime Week. “That doesn’t look likely now based on the events, particularly in the last week, so probably routing around the Cape of Good Hope is a continued paradigm for likely the rest of this year is the way things stand, and that has a big impact on our operations, big impact on the supply and demand,” Nixon said. <h3>Unused levers </h3>Independent of the Red Sea, carriers still have unused levers to curb overcapacity, including idling and slow steaming, Jan Tiedemann, senior analyst at Alphaliner, said at TPM25 in Long Beach earlier this month. Less than 1% of tonnage is idling, reflecting the belief of carriers that it’s better to have extra tonnage in case of disruption than send older vessels to the scrapping yards, he said. Scrapping last year was well below 1%, but there is limited yard capacity to break ships if carriers retire older tonnage. While container lines have sailed ships faster due to Red Sea diversions, there is plenty of functional capacity that can be reabsorbed by slowing down by just a few knots. “That doesn’t seem a lot, but if [a] ship only sails at 18 knots, and it goes down to 15, that’s quite a reduction in terms of the percentage” of capacity needed, Tiedemann said. Global port congestion and other events that pull down ocean reliability are curbing the effective capacity of the fleet, according to Simon Sundboell, founder and CEO of maritime intelligence firm eeSea. For example, the deployment of capacity out of Asia to Europe, North America and the Caribbean and Central America rose 7.9% year over year in 2024, according to eeSea. But the functional capacity was just 3.4%. The question for 2025 and beyond is not whether there will be tonnage overcapacity, as there surely will be, but to what degree there will an overhang of functional capacity. Contact Mark Szakonyi at <a href="https://www.joc.com/article/mark.szakonyi@spglobal.com.">mark.szakonyi@spglobal.com</a>.</div>

The conventional thinking is that container lines are heading for another down cycle due to mounting overcapacity and weakening global demand. After record profits during the COVID-19 pandemic era and $60 billion more in 2024, JP Morgan in a March 17 research note said it thinks the industry is “entering a multi-year period of losses.” That may very well be how this year and 2026 shake out. But a scenario in which external factors keep restraining effective container shipping capacity and carriers muster enough pricing discipline isn’t outlandish, either. Internally, thanks to consolidation over the last two decades and better capacity management in recent years, whether through blank sailings or holding firm on contract allocations when space gets tight, the old ways of looking at capacity aren’t relevant. Even so, the size of the current order book is daunting, with new orders representing a quarter of the existing fleet, according to S&P Global’s Sea-web, a sister company of the Journal of Commerce. Maersk CEO Vincent Clerc said approximately 2 million TEUs of capacity will be delivered this year, equating to 6% of the existing fleet, according to Sea-web. Another 1.5 million to 2 million TEUs could be released whenever the Red Sea reopens to commercial traffic, Clerc said during the company’s first-quarter earnings call Feb. 6. The industry’s return to Suez Canal transits is expected to cause three to six months of disruption, with ships repositioning and causing bunching at European and US East Coast ports, ultimately reducing effective capacity. “The overcapacity anticipated last year has been delayed to 2025, but the supply-demand equation is much more nuanced and benign than what we had in front of us just a year ago before the outbreak of the Red Sea disruption,” Clerc told investors. He added that Maersk expects stronger global demand in 2025 than last year, expanding at 4% — in line with the market — despite the US slapping tariffs on goods from China, Europe and other trading partners. Red Sea factor is ever-present So much depends on when the container shipping industry deems it safe to route through the Red Sea. US President Donald Trump’s decision to move a second aircraft carrier to the Middle East on March 23, a week after his order of strikes on Houthi-held areas in Yemen, may not open the waterway as he hopes. “The resumption of US airstrikes significantly increases the likelihood of further Houthi attacks on US and US-allied naval assets in the Red Sea and Gulf of Aden — representing a severe risk to all vessels in transit due to uncertainties around Houthi targeting selection,” said Jack Kennedy, head of Middle East and North Africa country risk at S&P Global Market Intelligece. Kennedy said it was unlikely that the US would be able to “restore unchecked freedom of navigation” in six months by pressuring Iran to stop helping its Houthi proxies. He doubts that the US can uproot the Houthi without help from the UAE and Saudi Arabia, a move that would most likely trigger retaliation from the Houthis. The Israel-Hamas ceasefire, announced Jan. 15, initially raised hopes of a return to Red Sea transits, Jeremy Nixon, CEO of Ocean Network Express (ONE), said Monday at Singapore Maritime Week. “That doesn’t look likely now based on the events, particularly in the last week, so probably routing around the Cape of Good Hope is a continued paradigm for likely the rest of this year is the way things stand, and that has a big impact on our operations, big impact on the supply and demand,” Nixon said. Unused levers Independent of the Red Sea, carriers still have unused levers to curb overcapacity, including idling and slow steaming, Jan Tiedemann, senior analyst at Alphaliner, said at TPM25 in Long Beach earlier this month. Less than 1% of tonnage is idling, reflecting the belief of carriers that it’s better to have extra tonnage in case of disruption than send older vessels to the scrapping yards, he said. Scrapping last year was well below 1%, but there is limited yard capacity to break ships if carriers retire older tonnage. While container lines have sailed ships faster due to Red Sea diversions, there is plenty of functional capacity that can be reabsorbed by slowing down by just a few knots. “That doesn’t seem a lot, but if [a] ship only sails at 18 knots, and it goes down to 15, that’s quite a reduction in terms of the percentage” of capacity needed, Tiedemann said. Global port congestion and other events that pull down ocean reliability are curbing the effective capacity of the fleet, according to Simon Sundboell, founder and CEO of maritime intelligence firm eeSea. For example, the deployment of capacity out of Asia to Europe, North America and the Caribbean and Central America rose 7.9% year over year in 2024, according to eeSea. But the functional capacity was just 3.4%. The question for 2025 and beyond is not whether there will be tonnage overcapacity, as there surely will be, but to what degree there will an overhang of functional capacity. Contact Mark Szakonyi at mark.szakonyi@spglobal.com .

Container lines

Maritime

Container ship overcapacity may be more ‘benign’ than order book suggests

<div class="phx-topic abstract-wrapper">Major carriers had lined up rate increases with the intention of strengthening their bargaining power during service contract negotiations, but overcapacity seems to have kept that tactic in check. </div>

Major carriers had lined up rate increases with the intention of strengthening their bargaining power during service contract negotiations, but overcapacity seems to have kept that tactic in check.

<div class="phx-topic">Ocean carriers on the India-US trade lane are realizing they are in no position to push through rate increases in a market saddled with excess capacity and faltering demand. Reflecting that skepticism, most carriers have recalled their April rate increase notices — mostly in the range of $500 per container — for bookings from West India to the US East Coast, local freight forwarder sources told the Journal of Commerce this week. “Hapag-Lloyd and CMA CGM have canceled their GRI [general rate increase] plans scheduled for the early part of April, while Maersk has revised its peak season surcharge date to April 20,” a forwarder who didn’t want to be identified said. “Right now, it’s a shippers’ market.” Local sources at Mediterranean Shipping Co. were unavailable to confirm the status of its GRI plans for April. Forwarders generally believe with no void vessel calls declared for next month on the premier India-USEC routings as of now, carriers could even struggle to hold end-March rates up into the coming weeks. Sources at the lead carriers who spoke with the Journal of Commerce noted that recent GRIs could have worked better if smaller lines working on slot rights had also made similar attempts. “A few Asian carriers are very aggressive in their pricing to fill the weekly space they have,” a European carrier source said. “Rate efforts will fail so long as some carriers are undercutting achievable spot rates.” Forwarder sources put spot rate quotes from Cosco Shipping/OOCL and HMM at between $1,400 and $1,700 per FEU for bookings from Nhava Sheva to New York. Ocean Network Express is another liner usually quoting 20% to 25% lower than its established peers, sources say. Major carriers had arguably lined up rate increases effective March 1 and March 15 with the intention of strengthening their bargaining power during service contract negotiations, but overcapacity seems to have kept that tactic in check. Contact Bency Mathew at <a href="https://www.joc.com/article/bencymathew@gmail.com">bencyvmathew@gmail.com</a>.</div>

Ocean carriers on the India-US trade lane are realizing they are in no position to push through rate increases in a market saddled with excess capacity and faltering demand. Reflecting that skepticism, most carriers have recalled their April rate increase notices — mostly in the range of $500 per container — for bookings from West India to the US East Coast, local freight forwarder sources told the Journal of Commerce this week. “Hapag-Lloyd and CMA CGM have canceled their GRI [general rate increase] plans scheduled for the early part of April, while Maersk has revised its peak season surcharge date to April 20,” a forwarder who didn’t want to be identified said. “Right now, it’s a shippers’ market.” Local sources at Mediterranean Shipping Co. were unavailable to confirm the status of its GRI plans for April. Forwarders generally believe with no void vessel calls declared for next month on the premier India-USEC routings as of now, carriers could even struggle to hold end-March rates up into the coming weeks. Sources at the lead carriers who spoke with the Journal of Commerce noted that recent GRIs could have worked better if smaller lines working on slot rights had also made similar attempts. “A few Asian carriers are very aggressive in their pricing to fill the weekly space they have,” a European carrier source said. “Rate efforts will fail so long as some carriers are undercutting achievable spot rates.” Forwarder sources put spot rate quotes from Cosco Shipping/OOCL and HMM at between $1,400 and $1,700 per FEU for bookings from Nhava Sheva to New York. Ocean Network Express is another liner usually quoting 20% to 25% lower than its established peers, sources say. Major carriers had arguably lined up rate increases effective March 1 and March 15 with the intention of strengthening their bargaining power during service contract negotiations, but overcapacity seems to have kept that tactic in check. Contact Bency Mathew at bencyvmathew@gmail.com .

Container Shipping News

Port News

North American ports

International ports

Carriers jettison India-US April rate hike plans after shaky March recovery erodes

<div class="phx-topic abstract-wrapper">Acquisitions continue in the domestic freight market, with Descartes buying 3GTMS to continue a decade-long spree of purchases. </div>

Acquisitions continue in the domestic freight market, with Descartes buying 3GTMS to continue a decade-long spree of purchases.

<div class="phx-topic">Logistics software company Descartes has acquired 3GTMS, a widely used domestic transportation management system (TMS) provider, the companies said Tuesday. The $115 million all-cash deal strengthens Descartes’ TMS reach within the US shipper community, especially in managing truckload, less-than-truckload and parcel shipments. 3GTMS adds to an existing catalog of TMS products that Descartes offers, including ones specifically for shippers and brokers. Descartes Chief Commercial Officer Andrew Roszko, in a statement, called the two TMSs “highly complementary” for domestic modes. “The acquisition also expands our carrier reach in North America, including the addition of a network of [application programming interface]-integrated LTL carriers,” he said. Founded in 2013 by TMS pioneer Mitch Weseley, 3GTMS initially came to market to serve the needs of shippers with complicated transportation networks. The product eventually came to be used by third-party logistics providers as well. The deal is Descartes’ 32nd acquisition since 2016 across a range of different transportation and global trade functions. The acquisition continues a recent trend of consolidation in the domestic transportation software and data landscape, with Triumph Financial having acquired <a href="https://www.joc.com/article/triumph-acquires-broker-focused-pricing-technology-provider-greenscreensai-5951484">truckload pricing data provider Greenscreens.ai</a> in late February and brokerage pricing and visibility software vendor <a href="https://www.joc.com/article/dat-acquires-trucker-tools-in-move-to-reduce-load-board-driver-churn-5907848">Trucker Tools being acquired by DAT Freight &amp; Analytics</a> in December. The TMS market in which Descartes and 3GTMS operate is highly fragmented, with large players such as Oracle, SAP and Blue Yonder competing against small low-cost options targeted at brokers, carriers or shippers. Additionally, many brokers use homegrown TMSs. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

Logistics software company Descartes has acquired 3GTMS, a widely used domestic transportation management system (TMS) provider, the companies said Tuesday. The $115 million all-cash deal strengthens Descartes’ TMS reach within the US shipper community, especially in managing truckload, less-than-truckload and parcel shipments. 3GTMS adds to an existing catalog of TMS products that Descartes offers, including ones specifically for shippers and brokers. Descartes Chief Commercial Officer Andrew Roszko, in a statement, called the two TMSs “highly complementary” for domestic modes. “The acquisition also expands our carrier reach in North America, including the addition of a network of [application programming interface]-integrated LTL carriers,” he said. Founded in 2013 by TMS pioneer Mitch Weseley, 3GTMS initially came to market to serve the needs of shippers with complicated transportation networks. The product eventually came to be used by third-party logistics providers as well. The deal is Descartes’ 32nd acquisition since 2016 across a range of different transportation and global trade functions. The acquisition continues a recent trend of consolidation in the domestic transportation software and data landscape, with Triumph Financial having acquired truckload pricing data provider Greenscreens.ai in late February and brokerage pricing and visibility software vendor Trucker Tools being acquired by DAT Freight & Analytics in December. The TMS market in which Descartes and 3GTMS operate is highly fragmented, with large players such as Oracle, SAP and Blue Yonder competing against small low-cost options targeted at brokers, carriers or shippers. Additionally, many brokers use homegrown TMSs. Contact Eric Johnson at eric.johnson@spglobal.com .

Truckload

Truck brokers

Logistics Technology News

Descartes snaps up rival to double down on domestic TMS market

<div class="phx-topic abstract-wrapper">CEO Stefan Paul told the company’s annual capital markets event in London that while K+N will focus on organic growth, it will also make bolt-on acquisitions “if they make sense.” </div>

CEO Stefan Paul told the company’s annual capital markets event in London that while K+N will focus on organic growth, it will also make bolt-on acquisitions “if they make sense.”

<div class="phx-topic">Gains in market share, especially in both sea and air logistics, will help Kuehne + Nagel outperform growth in the wider freight forwarding sector, senior company executives said Tuesday. CEO Stefan Paul said the company is aiming for growth of one and a half times the market rate, equal to average GDP growth, between now and 2030. “For sea and air logistics, our reference metric is volume growth; for road and contract logistics, it is net turnover growth,” Paul said during the company’s capital markets day in London. But K+N is also forecasting a more subdued 2025, with earnings before interest and taxes (EBIT) of between $1.7 billion and $2 billion. That compares with EBIT of $1.9 billion last year. “The lower end of our guidance reflects an increased level of uncertainty at this relatively early stage of the year 2025,” CFO Markus Blanka-Graff said during Tuesday’s event. Company executives admitted they were over-optimistic how the market would develop after the end of the COVID-19 pandemic when they targeted EBIT growth of 17% to 19% between 2019 and 2024. Actual average growth was 11%, and while that was an improvement compared with pre-pandemic growth rates, “it means we are clearly tracking below our expectations,” Paul said. He said the new growth targets are based on three assumptions. Aside from global long-term economic growth, they comprise increasing supply chain complexity due to trade barriers and other disruptions in supply or demand, and further market consolidation “because scale matters.” Paul said while K+N will focus on organic growth, it will also make bolt-on acquisitions “if they make sense,” such as the prior takeovers of Apex Logistics, US drayage firm IMC and Canadian customs broker Farrow. Commenting on the growth targets, Paul indicated that Kuehne + Nagel had already taken on new air freight customers in the fourth quarter because of <a href="https://www.joc.com/article/approvals-from-europe-us-among-last-hurdles-in-dsvs-takeover-of-db-schenker-5937453">DSV’s agreement to acquire DB Schenker</a>. And he expects a major shift in customers will come after that deal is completed, saying a combined DSV-Schenker could lose between 20% and 25% of its business to other logistics providers, mostly in the second half of this year. That is largely due to shipper procurement policies and governance issues in terms of how much business they can allocate to one provider rather than quality or service issues, Paul added. <h3>Expanding in smaller markets </h3>Michael Aldwell, K+N’s executive vice president of sea logistics, said the company would intensify its focus on key trades such as the trans-Atlantic, intra-Asia and Asia to North America and Europe, especially in areas such as healthcare, consumer goods, high-tech and industrial. “We will expand our network in smaller markets where we find attractive growth potential,” Aldwell said. “So far, we are now serving 41 new markets since the beginning of 2023, out of the initial goal of 50 by 2026.” At least another 20 new markets will be added in the next few years, including in Japan, Central Europe and Central and Latin America, he said. The forwarder is also increasing its focus to attract more small and medium-sized firms, which currently account for about 49% of its customer base. Yngve Ruud, K+N’s executive vice president of air logistics, was confident about the air freight outlook, with global volumes expected to increase 3% between 2025 and 2028. “Demand will exceed capacity in specific regions and trade lanes,” Ruud said, without giving details. He expected the forwarder would also meet its earnings growth target by launching new services for shippers later this year and in 2026, including “an end-to-end cool corridor in health care.” Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>.</div>

Gains in market share, especially in both sea and air logistics, will help Kuehne + Nagel outperform growth in the wider freight forwarding sector, senior company executives said Tuesday. CEO Stefan Paul said the company is aiming for growth of one and a half times the market rate, equal to average GDP growth, between now and 2030. “For sea and air logistics, our reference metric is volume growth; for road and contract logistics, it is net turnover growth,” Paul said during the company’s capital markets day in London. But K+N is also forecasting a more subdued 2025, with earnings before interest and taxes (EBIT) of between $1.7 billion and $2 billion. That compares with EBIT of $1.9 billion last year. “The lower end of our guidance reflects an increased level of uncertainty at this relatively early stage of the year 2025,” CFO Markus Blanka-Graff said during Tuesday’s event. Company executives admitted they were over-optimistic how the market would develop after the end of the COVID-19 pandemic when they targeted EBIT growth of 17% to 19% between 2019 and 2024. Actual average growth was 11%, and while that was an improvement compared with pre-pandemic growth rates, “it means we are clearly tracking below our expectations,” Paul said. He said the new growth targets are based on three assumptions. Aside from global long-term economic growth, they comprise increasing supply chain complexity due to trade barriers and other disruptions in supply or demand, and further market consolidation “because scale matters.” Paul said while K+N will focus on organic growth, it will also make bolt-on acquisitions “if they make sense,” such as the prior takeovers of Apex Logistics, US drayage firm IMC and Canadian customs broker Farrow. Commenting on the growth targets, Paul indicated that Kuehne + Nagel had already taken on new air freight customers in the fourth quarter because of DSV’s agreement to acquire DB Schenker . And he expects a major shift in customers will come after that deal is completed, saying a combined DSV-Schenker could lose between 20% and 25% of its business to other logistics providers, mostly in the second half of this year. That is largely due to shipper procurement policies and governance issues in terms of how much business they can allocate to one provider rather than quality or service issues, Paul added. Expanding in smaller markets Michael Aldwell, K+N’s executive vice president of sea logistics, said the company would intensify its focus on key trades such as the trans-Atlantic, intra-Asia and Asia to North America and Europe, especially in areas such as healthcare, consumer goods, high-tech and industrial. “We will expand our network in smaller markets where we find attractive growth potential,” Aldwell said. “So far, we are now serving 41 new markets since the beginning of 2023, out of the initial goal of 50 by 2026.” At least another 20 new markets will be added in the next few years, including in Japan, Central Europe and Central and Latin America, he said. The forwarder is also increasing its focus to attract more small and medium-sized firms, which currently account for about 49% of its customer base. Yngve Ruud, K+N’s executive vice president of air logistics, was confident about the air freight outlook, with global volumes expected to increase 3% between 2025 and 2028. “Demand will exceed capacity in specific regions and trade lanes,” Ruud said, without giving details. He expected the forwarder would also meet its earnings growth target by launching new services for shippers later this year and in 2026, including “an end-to-end cool corridor in health care.” Contact Keith Wallis at keithwallis@hotmail.com .

Forwarding

Supply chain

Kuehne + Nagel says gaining market share key to driving earnings growth

<div class="phx-topic abstract-wrapper">Oil and gas project developers pin hopes on legislative support and tax breaks for supporting carbon capture buildouts in the US, but the future of those projects could be at a crossroads under the Trump administration.</div>

Oil and gas project developers pin hopes on legislative support and tax breaks for supporting carbon capture buildouts in the US, but the future of those projects could be at a crossroads under the Trump administration.

<div class="phx-topic">The development of carbon capture and storage (CCS) facilities is gaining momentum along the US Gulf Coast, and the buildout could generate a windfall of project cargo and breakbulk shipments. But the future of these projects could be at a crossroads in the US as federal energy priorities under the Trump administration are at odds when it comes to CCS. A climate mitigation strategy favored by the oil and gas industry, CCS involves capturing carbon dioxide emitted from power plants and factories and storing it underground.The Gulf Coast accounts for 56% of US permit applications for underground carbon injection wells, known as Class VI wells, with 147 applications for sites across Texas, Louisiana, Alabama and Florida, according to data the Global CCS Institute provided to the Journal of Commerce. Jared Daniels, CEO of the Global CCS Institute, said the region’s carbon capture and storage boom could provide a significant source of project and breakbulk cargo as it would create a need to transport and install components including compressors, pumps, pipelines, chemical plant equipment, heavy machinery and raw materials. There are also opportunities for the transport of carbon dioxide captured from operational facilities. Daniels said although pipelines are the most common mode of CO2 transport, there is substantial research and development activity underway globally to create the potential to transport large volumes of CO2 by ship for storage purposes. “These could present new commercial opportunities, especially for the Gulf Coast, given the region’s ports, infrastructure and CO2 storage resources,” he said. The Trump administration has been working to dismantle policies and resources that support environmental, social and governance (ESG) initiatives, including zero-carbon goals. But the administration has also prioritized support for the oil and gas industry, which is backing several CCS projects. In January, Trump ended a Biden-era moratorium on export permits for liquefied natural gas (LNG) projects — some of which are pursuing carbon capture and storage to power their facilities. Daniels said high interest rates — combined with new tariffs and ongoing reviews of Biden-era infrastructure funding — present “significant” cost and financing challenges for CCS project developers. “These factors could delay or increase the costs of critical projects, adding uncertainty to the pace of deployment with potential impacts on energy security, exports, and jobs,” he said.<h3>Multimodal support in place</h3>Across the Gulf Coast, there are 31 CCS projects under development, with operational dates through 2028, according to a 2024 report by the National Technology Energy Laboratory and KeyLogic Inc.Energy majors including ExxonMobil, Chevron, Talos Energy Inc. and Occidental have CCS projects in development on the Gulf Coast. Key projects include ExxonMobil’s Gulf Coast CCS Network, which would be the nation’s largest offshore carbon dioxide capture and storage site, and the Bayou Bend CCS project — a joint venture between Chevron, TotalEnergies and Equinor to develop the first offshore Class VI CO2 injection well in Texas state waters. Last June, San Francisco-based carbon technologies company Heirloom announced plans to build the first of two direct air capture (DAC) facilities at the Port of Caddo-Bossier in northwest Louisiana. Direct air capture is a decarbonization method that is complementary to carbon capture and storage. Whereas CCS captures carbon dioxide from industrial sources such as power plants and factories, DAC removes CO2 directly from the atmosphere.Caitlyn Cain, community engagement lead for Heirloom, told the Journal of Commerce that Louisiana’s ports are uniquely positioned to support industries such as CCS because of their immediate access to rail, trucking and barge facilities.“That multimodality is incredibly appealing for industries like direct air capture and other industrial processes that want to take advantage of existing infrastructure to be able to transport cargo and to move product for industrial operations,” Cain said. Shen said project materials, including steel and feedstock, will come primarily from domestic sources via truck and rail. Once operational, Heirloom’s facility will be able to capture up to 100,000 tons of carbon dioxide at the Port of Caddo-Bossier and then transport the CO2 via pipeline to a Class VI well in central Louisiana.Construction is slated to begin on the facility by late 2026, starting with a $457 million plant that will be Heirloom’s first DAC facility in Louisiana and its second in North America. The second facility under design is part of Project Cypress, a public-private development that would create one of Louisiana’s largest DAC hubs. Project Cypress is pursuing up to $600 million in federal funds and will consist of Heirloom’s plant in Caddo Parish and a southwest Louisiana DAC facility being developed by DAC technology developer Climeworks. <h3>Sizeable cargo demands</h3>Cargo considerations for CCS projects are significant, often involving superload shipments that require extensive permitting and resources.Paul Betts, project manager for heavy-haul transport company Sarens, told the Journal of Commerce that six months of planning went into its December overland move of components for the Shell Polaris CCS project in Alberta, Canada, given the sheer size of the load and the permitting it required.The project called for the transport and installation of three massive components. Betts said the heaviest load weighed in at 655 tons, including trucks, trailers and equipment, and transporting it required 56 axle lines on two hydraulic platform trailers. “This was the biggest thing that moved in Alberta in a lot of years,” Betts said.The project has been in the works since 2021, and Sarens was awarded the cargo transport job in spring 2024. Preparing the 66-mile route entailed removing railway arms, securing bridge capacities, and coordinating power line adjustments 45 days in advance. “This was over and above normal heavy-haul procedures,” Betts said.The heavy lifting took a total of eight days in October, November and December and included the placement of all three components by crane, with the largest structure towering at nearly 235 feet tall. Betts said CCS is shaping up to be an active project segment over the next five years, with even larger projects to come. “There are a whole bunch of them popping up everywhere, so I think it’s a trend that’s going to carry on,” he said.Contact Autumn Cafiero Giusti at <a href="mailto:autumn@autumngiusti.com">autumn@autumngiusti.com</a>.</div>

The development of carbon capture and storage (CCS) facilities is gaining momentum along the US Gulf Coast, and the buildout could generate a windfall of project cargo and breakbulk shipments. But the future of these projects could be at a crossroads in the US as federal energy priorities under the Trump administration are at odds when it comes to CCS. A climate mitigation strategy favored by the oil and gas industry, CCS involves capturing carbon dioxide emitted from power plants and factories and storing it underground. The Gulf Coast accounts for 56% of US permit applications for underground carbon injection wells, known as Class VI wells, with 147 applications for sites across Texas, Louisiana, Alabama and Florida, according to data the Global CCS Institute provided to the Journal of Commerce. Jared Daniels, CEO of the Global CCS Institute, said the region’s carbon capture and storage boom could provide a significant source of project and breakbulk cargo as it would create a need to transport and install components including compressors, pumps, pipelines, chemical plant equipment, heavy machinery and raw materials. There are also opportunities for the transport of carbon dioxide captured from operational facilities. Daniels said although pipelines are the most common mode of CO2 transport, there is substantial research and development activity underway globally to create the potential to transport large volumes of CO2 by ship for storage purposes. “These could present new commercial opportunities, especially for the Gulf Coast, given the region’s ports, infrastructure and CO2 storage resources,” he said. The Trump administration has been working to dismantle policies and resources that support environmental, social and governance (ESG) initiatives, including zero-carbon goals. But the administration has also prioritized support for the oil and gas industry, which is backing several CCS projects. In January, Trump ended a Biden-era moratorium on export permits for liquefied natural gas (LNG) projects — some of which are pursuing carbon capture and storage to power their facilities. Daniels said high interest rates — combined with new tariffs and ongoing reviews of Biden-era infrastructure funding — present “significant” cost and financing challenges for CCS project developers. “These factors could delay or increase the costs of critical projects, adding uncertainty to the pace of deployment with potential impacts on energy security, exports, and jobs,” he said. Multimodal support in place Across the Gulf Coast, there are 31 CCS projects under development, with operational dates through 2028, according to a 2024 report by the National Technology Energy Laboratory and KeyLogic Inc. Energy majors including ExxonMobil, Chevron, Talos Energy Inc. and Occidental have CCS projects in development on the Gulf Coast. Key projects include ExxonMobil’s Gulf Coast CCS Network, which would be the nation’s largest offshore carbon dioxide capture and storage site, and the Bayou Bend CCS project — a joint venture between Chevron, TotalEnergies and Equinor to develop the first offshore Class VI CO2 injection well in Texas state waters. Last June, San Francisco-based carbon technologies company Heirloom announced plans to build the first of two direct air capture (DAC) facilities at the Port of Caddo-Bossier in northwest Louisiana. Direct air capture is a decarbonization method that is complementary to carbon capture and storage. Whereas CCS captures carbon dioxide from industrial sources such as power plants and factories, DAC removes CO2 directly from the atmosphere. Caitlyn Cain, community engagement lead for Heirloom, told the Journal of Commerce that Louisiana’s ports are uniquely positioned to support industries such as CCS because of their immediate access to rail, trucking and barge facilities. “That multimodality is incredibly appealing for industries like direct air capture and other industrial processes that want to take advantage of existing infrastructure to be able to transport cargo and to move product for industrial operations,” Cain said. Shen said project materials, including steel and feedstock, will come primarily from domestic sources via truck and rail. Once operational, Heirloom’s facility will be able to capture up to 100,000 tons of carbon dioxide at the Port of Caddo-Bossier and then transport the CO2 via pipeline to a Class VI well in central Louisiana. Construction is slated to begin on the facility by late 2026, starting with a $457 million plant that will be Heirloom’s first DAC facility in Louisiana and its second in North America. The second facility under design is part of Project Cypress, a public-private development that would create one of Louisiana’s largest DAC hubs. Project Cypress is pursuing up to $600 million in federal funds and will consist of Heirloom’s plant in Caddo Parish and a southwest Louisiana DAC facility being developed by DAC technology developer Climeworks. Sizeable cargo demands Cargo considerations for CCS projects are significant, often involving superload shipments that require extensive permitting and resources. Paul Betts, project manager for heavy-haul transport company Sarens, told the Journal of Commerce that six months of planning went into its December overland move of components for the Shell Polaris CCS project in Alberta, Canada, given the sheer size of the load and the permitting it required. The project called for the transport and installation of three massive components. Betts said the heaviest load weighed in at 655 tons, including trucks, trailers and equipment, and transporting it required 56 axle lines on two hydraulic platform trailers. “This was the biggest thing that moved in Alberta in a lot of years,” Betts said. The project has been in the works since 2021, and Sarens was awarded the cargo transport job in spring 2024. Preparing the 66-mile route entailed removing railway arms, securing bridge capacities, and coordinating power line adjustments 45 days in advance. “This was over and above normal heavy-haul procedures,” Betts said. The heavy lifting took a total of eight days in October, November and December and included the placement of all three components by crane, with the largest structure towering at nearly 235 feet tall. Betts said CCS is shaping up to be an active project segment over the next five years, with even larger projects to come. “There are a whole bunch of them popping up everywhere, so I think it’s a trend that’s going to carry on,” he said. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

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The world of LTL is slow to embrace change. Business anachronisms permeate current supply chain processes. These vestiges of the way things used to work define the LTL freight transportation procurement process of many modern shippers.David Knuth, logistics specialist at IEWC, a global supplier of cable and wire based in Wisconsin, is happy to have modernized the RFP process, automating the entire LTL bidding procedure with Bid$ense, SMC³’s automated truckload and LTL freight transportation sourcing solution. But when prompted, he can still recall what once was.In his previous job, a large part of his duties were consumed by creating an intermodal bid package for carriers. In a spreadsheet, Knuth detailed the company’s volumes lane by lane, taking care to delete any errant keystrokes or misleading data. He would then email out the information to each carrier, taking time to respond to detailed technical questions about the spreadsheet data. Finally, he had to compile all the results, create an algorithm that would compare the carriers on each lane, and award the business.“It was a huge undertaking. It took about four months to do,” Knuth said of the old process. “It was almost a full-time job for that part of the year, every year.”In his new job at IEWC, he sat down with Bid$ense on day one and was amazed at the capabilities. Knuth had never before used a bid tool. SMC³’s latest versions of Bid$ense automate the process even further, taking truckload and LTL RFPs entirely online. The tool draws on RFP best-practices protocols to streamline the bidding communication process, enabling bidding carriers to respond accurately and promptly to shipper requests. The solution also does all the distribution work automatically, electronically submitting shipper bid data to carriers based on their actual service capabilities and performance records. Carriers are alerted with timely prompts for RFP deliverables, so shippers aren’t waiting by the phone for responses.Another benefit of automating the process is the data-cleansing assistance. When Knuth sent spreadsheets to carriers, data errors might cloud the bidding process; he might have to resend data or simply accept a price that did not truly reflect the costs of doing business. Data cleansing is incredibly beneficial, he said.The spreadsheet technique also made bidding analysis an onerous task. Since Bid$ense automates and streamlines the entire RFP process, intensive examination is now simple. SMC³ knows that each bid has more than one best outcome. With uniform responses from each carrier, shippers can quickly rank results and create an unlimited quantity of what-if scenarios to make the optimal procurement decision.Jesse Burnett of Central Garden &amp; Pet experiences many of the same benefits. Founded in 1980, Central Garden &amp; Pet has spent the last three decades growing from a small garden supply company to a provider of a range of products from dog chews and bird seed to soil supplements and natural insecticides. For much of its life, the company shipped these disparate goods via LTL and truckload carriers to retailers throughout the country, relying on each business unit to negotiate directly with their freight transportation providers. This arrangement worked fairly well for a small company, but as Central Garden &amp; Pet expanded, leadership decided to consolidate decision making.Burnett helped centralize the transportation decision making in 2015 with SMC³’s Bid$ense. Before Bid$ense, every business unit operated independently as far as negotiating with carriers.“There were a lot of different things just floating around,” he said. “We didn’t have master agreements in place; no national pricing at all. The pricing from carriers was just all over the place, depending on where you were.”The transformations he saw with Bid$ense were immediate. Burnett has been using the tool about every other year since its implementation at the company. Central Garden and Pet’s $19.6 million 2019 LTL bid saved the company just more than 9 percent when compared to its historical average. For Burnett, though, bid automation extends far beyond savings.“We knew that we weren’t getting the best pricing offer from our carriers just because nothing was centralized,” he continued. “We knew that if we combined everything from all these business units and paired it with one corporate offering, then it would drive some cost benefit with it.”When the company initially decided to centralize bid procurement, executives researched a number of different methodologies and technologies. In the end, though, Burnett found that Bid$ense was both widespread and well known, and that his carrier partners already knew how to use the application. Burnett also highlighted the data-cleansing process as a major benefit, saying the rigorous process ensures that carriers always return the best price.“It definitely has helped drive savings,” he said. “Any time you go out there and you drive that competitiveness with the carriers and they know they’re in a bid environment, it seems to sharpen their pencils.”Transportation procurement is an integral part of the modern supply chain. With Bid$ense, shippers can develop a strategic implementation plan that saves them time and money, but also helps them create strong relationships with their carrier partners. These carriers appreciate the solution’s data-cleansing process; when carriers receive a complete shipment history and future volume forecast, they don’t have to guess on pricing. Carriers that receive more data from shippers get a complete picture of that shipper’s freight, allowing them to accurately plan instead of simply preparing for the worst-case scenario. Clean data presented through an automated system can lead to both bigger shipment savings and a lasting partnership between carrier and customer.Whether customers are looking to streamline over-the-road transportation bidding by automating the RFP process or create an entirely new, centralized sourcing process, Bid$ense has the analytical horsepower to get the job done.SMC³ 2020 Customer Case Study

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Shippers save money, time with automated transportation bidding tools

If there’s one immutable truth in the world of logistics, it’s this: LTL is an inherently complex form of transportation. Tariffs, rates, DIM weights, transit times — it’s enough to confuse even seasoned logistics professionals. The solution to this knowledge gap has historically been on-the-job training or university supply chain education, but for a variety of reasons there is now a pressing need for third-party, remote LTL training that prepares logistics workers for transportation success. Global Scope Can Overlook Local Intricacies In the past, professionals looking to move into a supply chain career learned about the basics of supply chain from universities. However, many of these college supply chain programs are now global in scope, focusing on worldwide supply chain management instead of the intricacies of specialized domestic transportation. And even these programs, which used to be widespread, are becoming less common. LTL is not an industry of broad-brush strokes; supply chain professionals really need a pointillistic understanding of the logistics of LTL in order to excel in the industry. Accelerating Need for Dedicated LTL Education This lack of specified training put the onus on employers to prepare new hires with the LTL knowledge needed to do their jobs. Dedicated LTL study is a necessity, not a luxury. At the same time, changes in LTL and the broader supply chain world are accelerating. The reliance on e-commerce has ballooned since the start of the pandemic, and last-mile LTL shipments and related e-commerce strains on the supply chain won’t diminish once social distancing abates. That genie isn’t going back into the bottle. So supply chain employers need logistics workers that are fully versed in all aspects of the industry, ready to solve unique shipping and delivery problems based on their extensive supply chain knowledge But why care about LTL? It’s been reported that some shippers in today’s world are no longer concerned with what mode is used to ship their goods. A Multimodal Approach Ensures On-Time Delivery This mode agnosticism means supply chain stakeholders have to be well versed in all modes of transportation. As unforeseen weather events and other disruptions, such as protests, become more common, savvy logistics employees will need to be armed with familiarity of all modes, not just the most popular, to ensure that freight is delivered on time, without damage, and in the most financially expedient way possible. Offerings like SMC³’s LTL online education courses cover a wide range of topics from LTL basics and operations to more advanced concepts like pricing analytics and transportation law. The company also has plans to continually refresh content, adding new expert presenters and taking the feedback of students to make the courses even better as time goes on. Learn more about&nbsp;<a href="https://logisticstrainingcenter.com/smc3-courses/" rel="noreferrer" class="joc_admin__link">SMC³’s LTL Online Education program</a>&nbsp;and view the 2021 hybrid schedule, featuring live industry experts,&nbsp;<a href="https://www.smc3.com/onlinelearning2021/" rel="noreferrer" class="joc_admin__link">here.</a>

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