Norfolk Southern seeks to boost its intermodal market share

Norfolk Southern (NYSE: NSC) is planning to add more intermodal service products in the southern U.S. as a way to take volume away from the trucking market, executives said during the company’s second-quarter earnings call on Wednesday, July 29.

Those products, which could be launched as early as the third quarter of this year, include products between the U.S. Southwest and the U.S. Southeast, as well as between the U.S. Southeast to the U.S. Northeast, said NS Chief Marketing Officer Alan Shaw.

“They are a new level of product that is not out there in the marketplace right now, or had not been. We’re confident that…it’s going to help us grow moving forward,” Shaw said.

Railroad executives said NS is seeking to take advantage of higher spot truck prices and tight truck markets in some U.S. regions.

NS’ July volumes are “a pretty strong sequential improvement over June,” and June was a month that experienced high retail spending and rising truck rates and truck tonnage, Shaw said.

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Source: Freight Waves

Vietnam a victim of its own Covid-19 success

Vietnam’s Covid-19 success story was almost too good to be true.

Before last weekend, Vietnam had gone 100 days without recording a single locally-transmitted Covid-19 infection, earned the mantle of the largest country without a single fatality from the virus, and its economy was an oddity in the world for reopening to near pre-coronavirus levels.

But as a second wave of infections spreads across the country, with cases confirmed as far apart as Hanoi and Ho Chi Minh City this week, that success story could quickly turn into a cautionary tale on the risks of reopening too fast and too broad.

Before the recent outbreak, the country of 95 million had earned international praise for keeping the number of confirmed cases at just 450 with zero deaths.

The latest wave is believed to have originated in the coastal city of Danang, which saw locals flock to its beaches and attractions last weekend to take advantage of discounts given by Hanoi to revive the beleaguered domestic tourism industry.

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Source: Asia Times

Forklift Truck Market to Generate $81.39 Billion by 2027

Growth in the e-commerce industry and the rise in investment in the infrastructure industry have boosted the growth of the global forklift truck market. This growth is behind the prediction by Allied Market Research that sales will reach $81. 39 billion in 2027, which represents a 7.3% annual growth rate. For comparison, in 2019 the market was $45 billion.

The global forklift truck market is segmented on the basis of power source, class, end-use, and geography. Based on power source, the market is divided into IC engine-powered and electric powered. The IC engine powered segment dominated the market in 2019, accounting for nearly three-fifths of the market. However, the electric-powered segment is expected to register the highest CAGR of 8.0% during the forecast period.

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Source: Material Handling & Logistics

Container chaos at Chittagong port as Eid holiday begins

Ligentia has warned customers that Chittagong port is experiencing a high volume of shipments before the Eid holiday begins tomorrow.

It said volumes, up some 35%, were “causing enormous pressure on the port and container freight station operations”.

Flows had become stagnant and import releases have “drastically reduced”, it said, “which has impacted most of the major shipping lines”.

It added: “Hapag-Lloyd, Maersk, CMA, YML, ONE and MSC have already declared on this, and further shipping lines are expected to declare later this week.”

The increased export flow has also caused delays in unloading and loading.

Foreign feeder vessels must remain in quarantine on an outer anchorage for 16 days, with nine vessels currently waiting and 10 at berth, as of today, according to Ligentia. However, it warned that most of the vessels were overbooked and there would be a further three-to-four-day wait.

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Source: The Load Star

Will the coronavirus pandemic end globalisation?

So, what does Covid mean for globalisation? Well, it has highlighted vulnerability in supply chains, while governments have seen that long supply chains for essential items does not work well. This article argues that regional trade agreements will create barriers elsewhere, while prices will rise from re-shoring. But it also argues that trade, as it stood pre-Covid, needed some adjustments and now is the time to take those opportunities.

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Source: The Load Star