GSCi

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Recent briefs by Danny:

Expeditors International – ‘Uncertainty’ the Word for 2023


Amidst year long plummeting sea and air freight volumes, global freight forwarder Expeditors reported operating income for the full year 2023 down 48% y-o-y to US $940m on revenues that fell by 46% to $9,300m. Announcing further job cuts, its CEO Jeffrey S Musser said, “If I had to use one word to describe the fourth quarter and all of 2023 it would be ‘uncertainty’.

Nippon Express acquires digital forwarder Wiz Freight


In the face of increasing supply chain complexities, Nippon Express pursues digital transformation in order to bolster its global freight forwarding business. The forwarder through its NX Global Innovation Fund, invested for a minority stake in Wiz Freight, a leading digital forwarding service provider in India, on January 12, 2024.

Green shoots for a US road freight recovery?


The US road freight industry is in recession thanks to overcapacity hitting contract and spot rates. There are some signs of recovery, but a potentially soft peak holiday shopping season could lead into what some economists suggest to be a coming recession.