<div class="phx-topic abstract-wrapper">Organic growth in the logistics business is hard to find with the global economy slowing and trade heavily disrupted by US tariffs, so forwarders have moved into acquisition mode. </div>

Organic growth in the logistics business is hard to find with the global economy slowing and trade heavily disrupted by US tariffs, so forwarders have moved into acquisition mode.

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<div>The completion of Danish forwarder DSV’s $16.25 billion all-cash acquisition of DB Schenker in April may have captured the headlines, but there is vigorous M&amp;A activity among second-tier forwarders searching for inorganic growth in a tariff-disrupted and slowing global economy. Valuations have come down from the sky-high levels reached after the pandemic and now forwarders are either making strategic takeovers or actively seeking acquisitions to grow scale, plug holes in networks or expand into new markets. “The market is soft and organic growth is hard to come by now, so inorganic growth may be the best option,” said Marc Iampieri,...

The completion of Danish forwarder DSV’s $16.25 billion all-cash acquisition of DB Schenker in April may have captured the headlines, but there is vigorous M&A activity among second-tier forwarders searching for inorganic growth in a tariff-disrupted and slowing global economy. Valuations have come down from the sky-high levels reached after the pandemic and now forwarders are either making strategic takeovers or actively seeking acquisitions to grow scale, plug holes in networks or expand into new markets. “The market is soft and organic growth is hard to come by now, so inorganic growth may be the best option,” said Marc Iampieri, global co-leader of logistics and transportation at business advisory firm AlixPartners. “Freight forwarders will survive this short-term challenge, and the strongest will end up with more market share and better solutions to squeeze some of the smaller ones out,” Iampieri told the Journal of Commerce Wednesday. A European forwarder making international takeover moves is Dachser, headquartered in Kempten, Germany. Burkhard Eling, CEO of the family-owned company, said the forwarder has made eight acquisitions within the last two years that have brought in $1 billion in revenue. “There will be more to come, that’s for sure,” he told the Journal of Commerce in an interview. “Last year we had 5% organic growth plus 8% unorganic growth from the acquisitions.” Eling noted that the markets outside Europe were growing faster than those inside the continent and that was the focus of Dachser’s acquisition campaign. “We want to build up a global groupage network in air and sea logistics that enables us to serve markets in and out of Europe as well as in America and Asia, focusing on high value products in verticals such as tech, fashion, sports, equipment and DIY, where we have a big presence,” he said. Aggressive expansion strategy Another European forwarder that is highly active in the M&A department is Denmark-based Scan Global Logistics. Rene Bergerling, senior director of business management in Europe, Middle East and Africa at Scan, said 30 countries have been added to its controlled network in the past few years. “In our industry, big is beautiful and customers expect us to have our own offices globally and have end-to-end control of their cargo that minimizes their risk,” Bergerling told the Journal of Commerce. “We are continuously searching for companies that match our DNA and have the right people, because we are up against the big guys and finding the right people is very important,” he added. Expanding capabilities and strengthening its customer base was behind Toll Group’s acquisition of Transolve Global, an Australian-based specialist in international freight forwarding of wine, bulk liquids and perishables. Terms of the deal were not disclosed after it was finalized last week, but Suhail Qureshi, interim president of Toll Global Forwarding, gave an indication of the M&A price point Toll has set for takeovers. “aFrom a size perspective, we’re owned by Japan Post, which is fairly large, so we’re not restricted in terms of size, although probably a sweet spot would be a company with revenue of around $250 to $300 million,” Qureshi said. “We are looking globally and not restricting ourselves to a particular geography, and our key focus areas right now are Germany and the Netherlands in Europe, plus Southeast Asia and the US,” he added. Qureshi said Toll’s M&A strategy was to target companies that had expertise in a specific area or key vertical, such as food and wine, healthcare, technology and industrials. Logistics providers plugging holes, expanding networks Some notable targeted acquisitions from smaller forwarders recently were Illinois-headquartered AIT Worldwide Logistics’ agreement in January to take over St. Louis-based forwarder Krupp Trucking, which specializes in the transportation of high-value goods. Also in January, Arizona-based Q Logistics Holdings made a $1.2 billion offer for Dubai-headquartered Aramex, which has a global presence in express delivery and e-commerce. In February, Japan Post acquired integrated logistics provider Tonami Holdings for $630 million. Hellmann Worldwide Logistics, based in Osnabrück, Germany, acquired full ownership of Los-Angeles-based HPL Apollo in February, strengthening the global forwarder’s position in the perishable logistics market and expanding its footprint in the US and Latin America. Also in February, another German forwarder, Arvato, acquired US-based third-party logistics provider Carbel and Florida-headquartered United Customs Services, growing its US reach into e-commerce and strengthening capabilities in fashion, beauty and lifestyle logistics. Despite the many acquisitions being made by smaller forwarders, AlixPartners’ Iampieri noted that in the heavily disrupted global trading environment, securing finance was not always easy. “Financial buyers are afraid of the tariff risks and have the option of passing on this [forwarding] industry,” he said. “Financing is tough now for all buyers, but more so for financial buyers that must convince lenders to believe the tariff risks are small.” Contact Greg Knowler at greg.knowler@spglobal.com .

Maritime

Container Shipping News

Forwarding

Targeted takeovers drive M&A activity among smaller global forwarders

<div class="phx-topic abstract-wrapper">Rising Asian vehicle exports have surpassed falling volumes from the west, forcing trade reshuffling and a rise in ballast trips.</div>

Rising Asian vehicle exports have surpassed falling volumes from the west, forcing trade reshuffling and a rise in ballast trips.

<div class="phx-topic">Soaring vehicle exports from Asia, especially China, are creating a widening trade imbalance between west and eastbound shipments that major car carrier operators are finding challenging to manage, senior shipping executives say. This imbalance is likely to worsen in part due to US tariff polices as Asian vehicle makers, especially those in China and South Korea, continue to gain market share at the expense of US and European manufacturers, according to Wallenius Wilhelmsen CEO Lasse Kristoffersen. Highlighting the imbalance, Kristoffersen said 13.4 million light vehicles were exported from China, South Korea and Japan last year compared with 2.7 million exported from the US, Europe and the UK, quoting motor industry statistics. While vehicle exports from Asia have increased 66% since 2019, they dropped 23% in the same period from the US, Europe and the UK, he added. Consequently, the imbalance in light vehicle shipments between east and west has surged 132% since 2019, from 4.6 million to 10.7 million last year, Kristoffersen said. <h3>Asian exports on the rise </h3>Erik Lewenhaupt, managing director of car carrier operator Stena Glovis, said vehicle exports from Europe and the US have been relatively flat at about 2.8 million units per year since 2020. The recovery in vehicle shipments over the last few years is due to the rise in exports from Asia, he told the Journal of Commerce. Kristoffersen said the structural shift in growing exports from Asia will be “escalated by US tariff policies.” Vehicle makers in Asia are expected to seek alternative export markets amid a possible drop in US sales after the Trump administration imposed 25% tariffs on all vehicle and component imports except those from China, which face tariffs of 30%. Reciprocal tariffs of 10% imposed by China make vehicle imports from the US more expensive. “When we talk to executives from Volvo, Mercedes or others they don’t know where they will produce cars, they don’t know where they will send them, and they don’t know how many they’ll send,” Kristoffersen said during a first-quarter results briefing in May. “They need help to have a flexible, fully integrated supply chain.” Kristoffersen said Wilhelmsen is less affected than some of its competitors. “We have a better book of business going back [to Asia] than others,” he said. <h3>Imbalanced utilization prompts trade rethink </h3>Despite this, Wilhelmsen and other carriers are facing higher trade inefficiency, lower fleet utilization and a growing need for ballast voyages where ships return to Asia empty or partially loaded. For Wilhelmsen, this resulted in a drop in cargo volumes in the first quarter to 12.7 million cubic meters, the lowest for the company since the third quarter of 2020, when it carried 11.9 million cubic meters. Other carriers, including Japan’s “K” Line and Norway’s Höegh Autoliners, agreed that vehicle exports from Asia are outpacing those from Europe and the US, leading them to adapt various strategies in response to those challenges. “For our return voyages to Japan, we manage the impact of this imbalance by carrying vehicles exported from Europe and the US and implementing efficient vessel allocation strategies,” a “K” Line spokesperson told the Journal of Commerce. “K” Line said it also triangulates vehicle, high-and-heavy and breakbulk cargoes between different markets to avoid costly ballast voyages with ships sailing empty or partially loaded direct to Japan from the US or Europe. Höegh Autoliners said it has diversified its network, loading vehicles and other cargo in 13 main areas and discharging cargo in 17 key markets last year. While Japan, China and South Korea accounted for 35% of loaded cargo volumes last year, followed by Europe with 26%, ports in the Caribbean, Central America, Europe, the Gulf region and Oceania were the main discharge areas. Höegh said its agile network allowed rapid adjustments to shifting volume and market conditions. <h3>Making shifts in Europe </h3>While not addressing the trade imbalance directly, carriers said they have adapted to the changing market conditions, especially in Europe. Japan’s NYK Line said it was awarded a 27-year concession by the Spanish port of Barcelona on May 7 to develop a finished vehicle logistics terminal with a capacity to handle 180,000 vehicles a year starting from 2027. “NYK aims to position the port of Barcelona as an international hub for finished-vehicle logistics, catering for current and future demands in the western Mediterranean and North African regions,” the carrier said in a statement announcing the deal. The new facility will augment at least four similar finished vehicle terminals NYK operates at Zeebrugge and Antwerp in Belgium, Port Said in Egypt and Yarimca, Turkey. Cosco Shipping Car Carriers is also expanding in Europe, signing several agreements to develop shipping links and import facilities as Chinese vehicle manufacturers move to transport vehicles on China-controlled tonnage. The carrier signed a deal with Germany’s BLG Logistics to develop BLG AutoTerminal Bremerhaven as the main port of entry for Cosco’s vehicle shipments to Germany and a central hub for imports to Scandinavia, the Baltic states and central and eastern Europe. Cosco also teamed up with Piraeus, Greece-headquartered roll-on/roll-off (ro/ro) ship operator Neptune Lines to cooperate on vehicle shipments on Mediterranean, Black Sea and North Africa routes. That comes as Chinese vehicle manufacturers are deploying increasingly bigger vessels on export trades in competition with traditional operators such as Wilhelmsen and Höegh. Anji Logistics, part of Shanghai-based vehicle maker SAIC Motors, deployed the world’s biggest car carrier, the 9,500-vehicle capacity Anji Ansheng, on its maiden voyage to Europe in May. Electric vehicle maker BYD is also developing is fleet, launching the 9,200-car equivalent unit (CEU) BYD Shenzhen, which left on its maiden voyage to Brazil in May. Geely Jisu Logistics, part of Geely Auto that owns Volvo, also deployed its first car carrier in May when the 7,000-CEU Jisu Fortune sailed to Europe. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>.</div>

Soaring vehicle exports from Asia, especially China, are creating a widening trade imbalance between west and eastbound shipments that major car carrier operators are finding challenging to manage, senior shipping executives say. This imbalance is likely to worsen in part due to US tariff polices as Asian vehicle makers, especially those in China and South Korea, continue to gain market share at the expense of US and European manufacturers, according to Wallenius Wilhelmsen CEO Lasse Kristoffersen. Highlighting the imbalance, Kristoffersen said 13.4 million light vehicles were exported from China, South Korea and Japan last year compared with 2.7 million exported from the US, Europe and the UK, quoting motor industry statistics. While vehicle exports from Asia have increased 66% since 2019, they dropped 23% in the same period from the US, Europe and the UK, he added. Consequently, the imbalance in light vehicle shipments between east and west has surged 132% since 2019, from 4.6 million to 10.7 million last year, Kristoffersen said. Asian exports on the rise Erik Lewenhaupt, managing director of car carrier operator Stena Glovis, said vehicle exports from Europe and the US have been relatively flat at about 2.8 million units per year since 2020. The recovery in vehicle shipments over the last few years is due to the rise in exports from Asia, he told the Journal of Commerce. Kristoffersen said the structural shift in growing exports from Asia will be “escalated by US tariff policies.” Vehicle makers in Asia are expected to seek alternative export markets amid a possible drop in US sales after the Trump administration imposed 25% tariffs on all vehicle and component imports except those from China, which face tariffs of 30%. Reciprocal tariffs of 10% imposed by China make vehicle imports from the US more expensive. “When we talk to executives from Volvo, Mercedes or others they don’t know where they will produce cars, they don’t know where they will send them, and they don’t know how many they’ll send,” Kristoffersen said during a first-quarter results briefing in May. “They need help to have a flexible, fully integrated supply chain.” Kristoffersen said Wilhelmsen is less affected than some of its competitors. “We have a better book of business going back [to Asia] than others,” he said. Imbalanced utilization prompts trade rethink Despite this, Wilhelmsen and other carriers are facing higher trade inefficiency, lower fleet utilization and a growing need for ballast voyages where ships return to Asia empty or partially loaded. For Wilhelmsen, this resulted in a drop in cargo volumes in the first quarter to 12.7 million cubic meters, the lowest for the company since the third quarter of 2020, when it carried 11.9 million cubic meters. Other carriers, including Japan’s “K” Line and Norway’s Höegh Autoliners, agreed that vehicle exports from Asia are outpacing those from Europe and the US, leading them to adapt various strategies in response to those challenges. “For our return voyages to Japan, we manage the impact of this imbalance by carrying vehicles exported from Europe and the US and implementing efficient vessel allocation strategies,” a “K” Line spokesperson told the Journal of Commerce. “K” Line said it also triangulates vehicle, high-and-heavy and breakbulk cargoes between different markets to avoid costly ballast voyages with ships sailing empty or partially loaded direct to Japan from the US or Europe. Höegh Autoliners said it has diversified its network, loading vehicles and other cargo in 13 main areas and discharging cargo in 17 key markets last year. While Japan, China and South Korea accounted for 35% of loaded cargo volumes last year, followed by Europe with 26%, ports in the Caribbean, Central America, Europe, the Gulf region and Oceania were the main discharge areas. Höegh said its agile network allowed rapid adjustments to shifting volume and market conditions. Making shifts in Europe While not addressing the trade imbalance directly, carriers said they have adapted to the changing market conditions, especially in Europe. Japan’s NYK Line said it was awarded a 27-year concession by the Spanish port of Barcelona on May 7 to develop a finished vehicle logistics terminal with a capacity to handle 180,000 vehicles a year starting from 2027. “NYK aims to position the port of Barcelona as an international hub for finished-vehicle logistics, catering for current and future demands in the western Mediterranean and North African regions,” the carrier said in a statement announcing the deal. The new facility will augment at least four similar finished vehicle terminals NYK operates at Zeebrugge and Antwerp in Belgium, Port Said in Egypt and Yarimca, Turkey. Cosco Shipping Car Carriers is also expanding in Europe, signing several agreements to develop shipping links and import facilities as Chinese vehicle manufacturers move to transport vehicles on China-controlled tonnage. The carrier signed a deal with Germany’s BLG Logistics to develop BLG AutoTerminal Bremerhaven as the main port of entry for Cosco’s vehicle shipments to Germany and a central hub for imports to Scandinavia, the Baltic states and central and eastern Europe. Cosco also teamed up with Piraeus, Greece-headquartered roll-on/roll-off (ro/ro) ship operator Neptune Lines to cooperate on vehicle shipments on Mediterranean, Black Sea and North Africa routes. That comes as Chinese vehicle manufacturers are deploying increasingly bigger vessels on export trades in competition with traditional operators such as Wilhelmsen and Höegh. Anji Logistics, part of Shanghai-based vehicle maker SAIC Motors, deployed the world’s biggest car carrier, the 9,500-vehicle capacity Anji Ansheng, on its maiden voyage to Europe in May. Electric vehicle maker BYD is also developing is fleet, launching the 9,200-car equivalent unit (CEU) BYD Shenzhen, which left on its maiden voyage to Brazil in May. Geely Jisu Logistics, part of Geely Auto that owns Volvo, also deployed its first car carrier in May when the 7,000-CEU Jisu Fortune sailed to Europe. Contact Keith Wallis at keithwallis@hotmail.com .

Ro/ro cargo

Car carriers shift gears to cope with east-west trade imbalances

<div class="phx-topic abstract-wrapper">Truckload carriers told the Wells Fargo industrial conference their market is tightening slowly, but enforcement of cabotage and language rules may speed the process. </div>

Truckload carriers told the Wells Fargo industrial conference their market is tightening slowly, but enforcement of cabotage and language rules may speed the process.

<div class="phx-topic">Trucking executives are increasingly confident the freight market is approaching “equilibrium,” not due to higher demand but because they believe capacity is about to be cut faster by multiple factors, including tougher enforcement of US regulations. They’re looking for a lift — any lift — further off the bottom of a trucking downturn that has lasted three years, speakers told the 2025 Wells Fargo Industrials &amp; Materials Conference in Chicago this week. “I think that there’s fragileness in supply chains and the supply side and any little lift will start to be felt,” said Bradley W. Hicks, president of dedicated contract services at J.B. Hunt Transport Service, according to a transcript. “I think we’ll get back to net growth in the second half,” said Nicholas Hobbs, J.B. Hunt’s COO and president of highway and final-mile services. “I can’t guarantee it’s by the end of Q3 or if it’s in Q4, there’s timing that comes in,” Hobbs said. In terms of dedicated contracts, “we can sell a deal even today, and we might not start that location until November or December,” he said. Despite a soft economy, manufacturing contraction and the impact of US tariffs on China and Mexico, the truckload market is not that bad, if not yet “completely normal,” said Mark Rourke, CEO and president of Schneider National, according to a transcript. “The worst-case scenarios that were being bandied about haven’t played out,” he said. “We can certainly see a downturn in the West Coast volumes that we would normally see at this juncture,” Rourke said. “But there’s also a lot of bonded warehouse activity still starting to come inland.” Some of the slack in West Coast truckload volume has been taken up by volumes in the Midwest and Southwest and cross-border volumes to and from Mexico, he said, adding that, “domestic demand has been fairly steady, if unspectacular.” Although Rourke, Hicks and Hobbs believe truck capacity is tightening, shippers have told the Journal of Commerce they haven’t seen any tightness yet, noting they have no trouble finding a truck. <h3>ELP, cabotage enforcement </h3>But the trucking executives see new factors emerging beyond low rates and higher insurance premiums that could remove more capacity. In particular, they cite federal enforcement of the English-language requirement for interstate drivers and a potential crackdown on cabotage by foreign drivers operating in the US under B-1 visas. “It is a matter of how consistent and broad-based the enforcement is,” Rourke said. Under new guidelines from the US Department of Transportation (DOT) that take effect June 25, an inability to communicate in English with officials or read road signs will automatically lead to drivers being placed out of service. An inability to communicate through English has been a violation but not an out-of-service violation since 2016. In 2024, state police and federal inspectors handed out 9,510 English Language Proficiency (ELP) violations out of 1.06 million total driver violations. Six drivers were placed out of service in 2024 for their inability to read or speak English sufficiently, according to Federal Motor Carrier Safety Administration (FMCSA) data. The impact of the strict enforcement of the ELP rule has been “a little bit dismissed too much and particularly in certain geographies where that could have more concentration and [be more of an] issue than others,” Rourke said. The second issue is cabotage, in which foreign drivers illegally haul domestic loads in the US. “There’s a lot of noise really in the industry starting to spark about cabotage,” said Hobbs. “I think that’s a really big play on where cheap rates are coming from.” Documented data supporting that belief is hard to find, however. Even so, “just a mere threatening of enforcement drives change,” said Rourke. Contact William B. Cassidy at <a href="mailto:bill.cassidy@spglobal.com">bill.cassidy@spglobal.com</a>. </div>

Trucking executives are increasingly confident the freight market is approaching “equilibrium,” not due to higher demand but because they believe capacity is about to be cut faster by multiple factors, including tougher enforcement of US regulations. They’re looking for a lift — any lift — further off the bottom of a trucking downturn that has lasted three years, speakers told the 2025 Wells Fargo Industrials & Materials Conference in Chicago this week. “I think that there’s fragileness in supply chains and the supply side and any little lift will start to be felt,” said Bradley W. Hicks, president of dedicated contract services at J.B. Hunt Transport Service, according to a transcript. “I think we’ll get back to net growth in the second half,” said Nicholas Hobbs, J.B. Hunt’s COO and president of highway and final-mile services. “I can’t guarantee it’s by the end of Q3 or if it’s in Q4, there’s timing that comes in,” Hobbs said. In terms of dedicated contracts, “we can sell a deal even today, and we might not start that location until November or December,” he said. Despite a soft economy, manufacturing contraction and the impact of US tariffs on China and Mexico, the truckload market is not that bad, if not yet “completely normal,” said Mark Rourke, CEO and president of Schneider National, according to a transcript. “The worst-case scenarios that were being bandied about haven’t played out,” he said. “We can certainly see a downturn in the West Coast volumes that we would normally see at this juncture,” Rourke said. “But there’s also a lot of bonded warehouse activity still starting to come inland.” Some of the slack in West Coast truckload volume has been taken up by volumes in the Midwest and Southwest and cross-border volumes to and from Mexico, he said, adding that, “domestic demand has been fairly steady, if unspectacular.” Although Rourke, Hicks and Hobbs believe truck capacity is tightening, shippers have told the Journal of Commerce they haven’t seen any tightness yet, noting they have no trouble finding a truck. ELP, cabotage enforcement But the trucking executives see new factors emerging beyond low rates and higher insurance premiums that could remove more capacity. In particular, they cite federal enforcement of the English-language requirement for interstate drivers and a potential crackdown on cabotage by foreign drivers operating in the US under B-1 visas. “It is a matter of how consistent and broad-based the enforcement is,” Rourke said. Under new guidelines from the US Department of Transportation (DOT) that take effect June 25, an inability to communicate in English with officials or read road signs will automatically lead to drivers being placed out of service. An inability to communicate through English has been a violation but not an out-of-service violation since 2016. In 2024, state police and federal inspectors handed out 9,510 English Language Proficiency (ELP) violations out of 1.06 million total driver violations. Six drivers were placed out of service in 2024 for their inability to read or speak English sufficiently, according to Federal Motor Carrier Safety Administration (FMCSA) data. The impact of the strict enforcement of the ELP rule has been “a little bit dismissed too much and particularly in certain geographies where that could have more concentration and [be more of an] issue than others,” Rourke said. The second issue is cabotage, in which foreign drivers illegally haul domestic loads in the US. “There’s a lot of noise really in the industry starting to spark about cabotage,” said Hobbs. “I think that’s a really big play on where cheap rates are coming from.” Documented data supporting that belief is hard to find, however. Even so, “just a mere threatening of enforcement drives change,” said Rourke. Contact William B. Cassidy at bill.cassidy@spglobal.com .

Surface

Trucking News

Schneider, J.B. Hunt see US truck capacity shrinking in H2

<div class="phx-topic abstract-wrapper">While some markets grapple with the lingering effects of trade disputes and fluctuating demand, others are experiencing unprecedented growth driven by green initiatives, robust domestic infrastructure development and the necessities of defense. </div>

While some markets grapple with the lingering effects of trade disputes and fluctuating demand, others are experiencing unprecedented growth driven by green initiatives, robust domestic infrastructure development and the necessities of defense.

<div class="phx-topic">From stalled steel mills in Sweden to booming infrastructure in India and an unexpected surge in defense logistics across Europe, project cargo specialists are adapting to a new industrial demand world order. Regional variations and emerging trends are shaping the movement of vital industrial components. While some markets grapple with the lingering effects of trade disputes and fluctuating demand, others are experiencing unprecedented growth driven by green initiatives, robust domestic infrastructure development and the necessities of defense. In Sweden, a comparatively small but heavily industrialized market, the impact of international trade policies resonates deeply. Speaking to the Journal of Commerce, Jonas Landhage, global project manager/team leader at freight forwarder Begoma, said that his home country “follows the bigger markets,” leaving it susceptible to global shifts, particularly US tariffs. “Since the tariffs from the US, everything is more or less on hold, both incoming and outgoing cargo,” he said. That uncertainty has stalled significant domestic projects, including large industrial steel mills that are waiting for a clearer trade outlook. “It’s a confusing time for everyone, and it makes everyone be a little bit afraid to do project cargo moves,” Landhage said. Finland, Sweden’s neighbor, presents a dual market scenario, according to Marianne Blechingberg, managing director of project cargo at forwarder Hacklin Oy. Blechingberg highlighted the green transition as a significant driver of project cargo in Finland. “Green transition companies are growing and growing, and they have a lot of cargo to ship,” she said. Conversely, traditional heavy industries in Finland face a different reality. After a 10-year boom, those traditional industries have reached saturation, which has led to significant adjustments. “Now all of a sudden, this market is full, and orders have diminished drastically,” Blechingberg said. <h3>Concerns for current projects </h3>In Spain, Franco Ribechini, project director at Barcelona-based forwarder Del Corona &amp; Scardigli Spain (DCS Group), acknowledged that project moves are still happening, yet expressed concern for future projects amid geopolitical tensions. “Companies that are already performing projects have seen their budgets increase a lot,” he told the Journal of Commerce, adding those shippers are moving project cargo “as soon as possible” under the shadow of strained international relations. If existing tensions between Spain and the US, mainly over foreign policy disagreements, do not ease, shippers already committed to projects will have no option but to accept a large increase in their budget, Ribechini warned. More positively, energy production is identified by Ribechini as a resilient sector. “Energy production — whether related to green energy or not — is still needed, especially in West and South African countries, and South America,” he said. “Here, shippers are bidding for projects, and those projects are developing very quickly.” India, meanwhile, has not taken its foot of the gas with industrial projects. Nilesh Sinha, director at New Delhi-based project cargo forwarder Procam, described the country’s project outlook as “very, very positive.” Sinha broke down the Indian market into two key drivers: internal infrastructure requirements and meeting global project demand. He sees current global challenges as an opportunity for India to fill gaps, highlighting the country’s focus on energy efficiency and carbon emissions. “India and China are the two countries who contribute the maximum to carbon emissions, so there is an opportunity there,” Sinha said. Meanwhile, an unexpected but growing project cargo segment has also emerged in Europe: the defense industry. Blechingberg highlighted its critical importance for Europe, especially due to the war in Ukraine. “This is creating opportunity for freight forwarders,” she said. Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">carly.fields@spglobal.com</a>. </div>

From stalled steel mills in Sweden to booming infrastructure in India and an unexpected surge in defense logistics across Europe, project cargo specialists are adapting to a new industrial demand world order. Regional variations and emerging trends are shaping the movement of vital industrial components. While some markets grapple with the lingering effects of trade disputes and fluctuating demand, others are experiencing unprecedented growth driven by green initiatives, robust domestic infrastructure development and the necessities of defense. In Sweden, a comparatively small but heavily industrialized market, the impact of international trade policies resonates deeply. Speaking to the Journal of Commerce, Jonas Landhage, global project manager/team leader at freight forwarder Begoma, said that his home country “follows the bigger markets,” leaving it susceptible to global shifts, particularly US tariffs. “Since the tariffs from the US, everything is more or less on hold, both incoming and outgoing cargo,” he said. That uncertainty has stalled significant domestic projects, including large industrial steel mills that are waiting for a clearer trade outlook. “It’s a confusing time for everyone, and it makes everyone be a little bit afraid to do project cargo moves,” Landhage said. Finland, Sweden’s neighbor, presents a dual market scenario, according to Marianne Blechingberg, managing director of project cargo at forwarder Hacklin Oy. Blechingberg highlighted the green transition as a significant driver of project cargo in Finland. “Green transition companies are growing and growing, and they have a lot of cargo to ship,” she said. Conversely, traditional heavy industries in Finland face a different reality. After a 10-year boom, those traditional industries have reached saturation, which has led to significant adjustments. “Now all of a sudden, this market is full, and orders have diminished drastically,” Blechingberg said. Concerns for current projects In Spain, Franco Ribechini, project director at Barcelona-based forwarder Del Corona & Scardigli Spain (DCS Group), acknowledged that project moves are still happening, yet expressed concern for future projects amid geopolitical tensions. “Companies that are already performing projects have seen their budgets increase a lot,” he told the Journal of Commerce, adding those shippers are moving project cargo “as soon as possible” under the shadow of strained international relations. If existing tensions between Spain and the US, mainly over foreign policy disagreements, do not ease, shippers already committed to projects will have no option but to accept a large increase in their budget, Ribechini warned. More positively, energy production is identified by Ribechini as a resilient sector. “Energy production — whether related to green energy or not — is still needed, especially in West and South African countries, and South America,” he said. “Here, shippers are bidding for projects, and those projects are developing very quickly.” India, meanwhile, has not taken its foot of the gas with industrial projects. Nilesh Sinha, director at New Delhi-based project cargo forwarder Procam, described the country’s project outlook as “very, very positive.” Sinha broke down the Indian market into two key drivers: internal infrastructure requirements and meeting global project demand. He sees current global challenges as an opportunity for India to fill gaps, highlighting the country’s focus on energy efficiency and carbon emissions. “India and China are the two countries who contribute the maximum to carbon emissions, so there is an opportunity there,” Sinha said. Meanwhile, an unexpected but growing project cargo segment has also emerged in Europe: the defense industry. Blechingberg highlighted its critical importance for Europe, especially due to the war in Ukraine. “This is creating opportunity for freight forwarders,” she said. Contact Carly Fields at carly.fields@spglobal.com .

Breakbulk News

Project cargo

Industrial cargo demand challenged by regional variation, economic uncertainty

<div class="phx-topic abstract-wrapper">The intermodal yard and attached warehouse park would be developed about 50 miles outside the city and are part of a $170 million investment plan unveiled by the railroad. </div>

The intermodal yard and attached warehouse park would be developed about 50 miles outside the city and are part of a $170 million investment plan unveiled by the railroad.

<div class="phx-topic">Canadian National (CN) said Wednesday it plans to invest $170 million in its Illinois rail operations, including the development of a long-planned logistics park outside of Chicago. CN said that along with track maintenance and other infrastructure projects in the state, the investment will go toward the construction of the “Chicago Logistics Hub,” a 900-acre development site about 50 miles outside Chicago. The site, located in the village of Channahon, will include an intermodal yard and a business park for warehouses, CN said in a statement. The railroad acquired the site when it bought the Elgin, Joliet and Eastern Railway in 2009. CN has previously said that acquiring rail trackage outside of the metropolitan Chicago region provides an advantage in transit times of up to 48 hours relative to other Class I railroads. “Our continued infrastructure investment in Illinois will help strengthen the resiliency and efficiency of our network across the state,” CN Chief Executive Tracy Robinson said in the statement. Earlier this year, CN completed a project to extend siding track for four miles in the Chicago area to improve fluidity and railcar capacity in the region. The $54 million siding project was part of CN’s 2024 capital budget in the state, including $15 million for containers and yard equipment and $10 million for its other intermodal hubs. CN is expected to break ground on the new hub this year, according to the village of Channahon, with the project scheduled to be completed in late 2027 or early 2028. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

Canadian National (CN) said Wednesday it plans to invest $170 million in its Illinois rail operations, including the development of a long-planned logistics park outside of Chicago. CN said that along with track maintenance and other infrastructure projects in the state, the investment will go toward the construction of the “Chicago Logistics Hub,” a 900-acre development site about 50 miles outside Chicago. The site, located in the village of Channahon, will include an intermodal yard and a business park for warehouses, CN said in a statement. The railroad acquired the site when it bought the Elgin, Joliet and Eastern Railway in 2009. CN has previously said that acquiring rail trackage outside of the metropolitan Chicago region provides an advantage in transit times of up to 48 hours relative to other Class I railroads. “Our continued infrastructure investment in Illinois will help strengthen the resiliency and efficiency of our network across the state,” CN Chief Executive Tracy Robinson said in the statement. Earlier this year, CN completed a project to extend siding track for four miles in the Chicago area to improve fluidity and railcar capacity in the region. The $54 million siding project was part of CN’s 2024 capital budget in the state, including $15 million for containers and yard equipment and $10 million for its other intermodal hubs. CN is expected to break ground on the new hub this year, according to the village of Channahon, with the project scheduled to be completed in late 2027 or early 2028. Contact Michael Angell at michael.angell@spglobal.com .

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Canadian National to move forward on new Chicago-area logistics hub

<div class="phx-topic abstract-wrapper">ACP Administrator Ricaurte Vásquez Morales says developing the terminal would help ease the concerns of ocean carriers that the canal’s existing container terminals are concentrated among a handful of operators. </div>

ACP Administrator Ricaurte Vásquez Morales says developing the terminal would help ease the concerns of ocean carriers that the canal’s existing container terminals are concentrated among a handful of operators.

<div class="phx-topic">The Panama Canal Authority (ACP) could build and operate a long-stalled container terminal as part of a wider logistics hub development near Panama City on the Atlantic Ocean side of the canal, the authority’s top executive says. ACP Administrator Ricaurte Vásquez Morales told the Journal of Commerce the move would help allay ocean carrier concerns that the canal’s existing container terminals are concentrated among a handful of operators, thus affecting the canal’s neutrality and competitiveness. ACP intends that the 5 million-TEU Corozal Container Terminal should be a common-user facility, open to all container lines. “We are studying the possibility of reactivating a project where the Panama Canal Authority would develop a logistics hub, which would include various terminals, within the canal area that safeguards neutrality for the canal and all of the shipping companies navigating the waterway,” Vásquez said. That comes as worries about market dominance have emerged since Hong Kong conglomerate CK Hutchison <a href="https://www.joc.com/article/hutchison-inks-228-billion-deal-to-sell-majority-of-port-holdings-to-blackrock-til-5955819">agreed to a $23 billion preliminary deal in March</a> to sell its global port interests outside China to a consortium of BlackRock and Terminal Investment Limited (TiL). TiL is the terminals division of Mediterranean Shipping Co. and already has a presence in Panama’s terminals sector through its partnership with investment company Notarc Management Group (NMG) to develop the $1.4 billion Panama Colon Container Port (PCCP). TiL/NMG took over the project in 2022 after the Panama Maritime Authority canceled an earlier agreement with a Chinese consortium led by Hong Kong/China shipping and port group Landbridge for alleged non-compliance. “To be clear, the concessions made to port operators, including that of Panama Ports Company owned by Hutchinson, lie fully in the hands of the Panamanian government and are not within the purview of the Panama Canal Authority,” Vasquez said. “However, we are aware of the concerns surrounding a capacity concentration that our shipping clients anticipate with the current proposal on the table.” Details of the logistics hub, including the container terminals, will be given at an ACP briefing on June 19. <h3>Political intrigue </h3>The ACP selected four terminal operators in 2016 to bid for a concession to build and operate the Corozal terminal. The project has been in abeyance since 2017 after none of the four, which included APM Terminals, Singapore’s PSA International and CMA CGM’s Terminal Line, submitted a bid, according to then-ACP administrator Jorge Quijano. Neither TiL nor NMG responded to requests for comment this week from the Journal of Commerce. MSC, already the world’s biggest container line in terms of capacity, will also emerge as the largest global terminal operator with throughput volumes of almost 120 million TEUs based on 2023 figures, according to estimates from maritime consultancy Drewry. Hutchison has confirmed that TiL is the lead partner in the planned acquisition. The BlackRock-TiL deal comprises two agreements. The first covers the sale of Panama Ports Company (PPC), in which Hutchison has a 90% stake and operates Balboa and Christobal container terminals at either end of the canal; the second comprises Hutchison’s 80% stake in Hutchison Port Holdings, which controls its non-China terminals. Together, these cover a total of 43 ports with 199 berths in 23 countries. But the deal, particularly the sale of the Panama ports, is caught <a href="https://www.joc.com/article/beijing-issues-warning-over-hutchisons-proposed-sale-of-panama-ports-company-5962910">in the crosshairs of a geopolitical wrangle between the US and China</a>. Semi-official commentators in China have voiced opposition to the sale on the grounds of China’s national and security interests, while China’s anti-trust regulator is probing the sale partly on national security grounds. At the same time, the Trump administration has vowed to take back control of the canal to curb what it says is China’s control of cargo through the waterway. Panama legal officials are also probing the way Panama Ports Company secured an extension to its 25-year concession to operate the Balboa and Christobal terminals in 2021 for possible irregularities. The Panama government and PPC have denied any wrongdoing. There are currently five operators with terminals along the canal. Aside from Hutchison’s PPC, other firms with facilities are Taiwan’s Evergreen Marine, which operates Colon Container Terminal; PSA International, which controls the PSA Panama International Terminal at Rodman; SSA Marine, which operates the Manzanillo International Terminal at Colon; and TiL/NMG with the PCCP. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

The Panama Canal Authority (ACP) could build and operate a long-stalled container terminal as part of a wider logistics hub development near Panama City on the Atlantic Ocean side of the canal, the authority’s top executive says. ACP Administrator Ricaurte Vásquez Morales told the Journal of Commerce the move would help allay ocean carrier concerns that the canal’s existing container terminals are concentrated among a handful of operators, thus affecting the canal’s neutrality and competitiveness. ACP intends that the 5 million-TEU Corozal Container Terminal should be a common-user facility, open to all container lines. “We are studying the possibility of reactivating a project where the Panama Canal Authority would develop a logistics hub, which would include various terminals, within the canal area that safeguards neutrality for the canal and all of the shipping companies navigating the waterway,” Vásquez said. That comes as worries about market dominance have emerged since Hong Kong conglomerate CK Hutchison agreed to a $23 billion preliminary deal in March to sell its global port interests outside China to a consortium of BlackRock and Terminal Investment Limited (TiL). TiL is the terminals division of Mediterranean Shipping Co. and already has a presence in Panama’s terminals sector through its partnership with investment company Notarc Management Group (NMG) to develop the $1.4 billion Panama Colon Container Port (PCCP). TiL/NMG took over the project in 2022 after the Panama Maritime Authority canceled an earlier agreement with a Chinese consortium led by Hong Kong/China shipping and port group Landbridge for alleged non-compliance. “To be clear, the concessions made to port operators, including that of Panama Ports Company owned by Hutchinson, lie fully in the hands of the Panamanian government and are not within the purview of the Panama Canal Authority,” Vasquez said. “However, we are aware of the concerns surrounding a capacity concentration that our shipping clients anticipate with the current proposal on the table.” Details of the logistics hub, including the container terminals, will be given at an ACP briefing on June 19. Political intrigue The ACP selected four terminal operators in 2016 to bid for a concession to build and operate the Corozal terminal. The project has been in abeyance since 2017 after none of the four, which included APM Terminals, Singapore’s PSA International and CMA CGM’s Terminal Line, submitted a bid, according to then-ACP administrator Jorge Quijano. Neither TiL nor NMG responded to requests for comment this week from the Journal of Commerce. MSC, already the world’s biggest container line in terms of capacity, will also emerge as the largest global terminal operator with throughput volumes of almost 120 million TEUs based on 2023 figures, according to estimates from maritime consultancy Drewry. Hutchison has confirmed that TiL is the lead partner in the planned acquisition. The BlackRock-TiL deal comprises two agreements. The first covers the sale of Panama Ports Company (PPC), in which Hutchison has a 90% stake and operates Balboa and Christobal container terminals at either end of the canal; the second comprises Hutchison’s 80% stake in Hutchison Port Holdings, which controls its non-China terminals. Together, these cover a total of 43 ports with 199 berths in 23 countries. But the deal, particularly the sale of the Panama ports, is caught in the crosshairs of a geopolitical wrangle between the US and China . Semi-official commentators in China have voiced opposition to the sale on the grounds of China’s national and security interests, while China’s anti-trust regulator is probing the sale partly on national security grounds. At the same time, the Trump administration has vowed to take back control of the canal to curb what it says is China’s control of cargo through the waterway. Panama legal officials are also probing the way Panama Ports Company secured an extension to its 25-year concession to operate the Balboa and Christobal terminals in 2021 for possible irregularities. The Panama government and PPC have denied any wrongdoing. There are currently five operators with terminals along the canal. Aside from Hutchison’s PPC, other firms with facilities are Taiwan’s Evergreen Marine, which operates Colon Container Terminal; PSA International, which controls the PSA Panama International Terminal at Rodman; SSA Marine, which operates the Manzanillo International Terminal at Colon; and TiL/NMG with the PCCP. Contact Keith Wallis at keithwallis@hotmail.com .

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Panama Canal mulls developing Corozal to allay neutrality fears over Hutchison deal

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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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Filling the Supply Chain Education Gap with LTL Education Courses

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