<div class="phx-topic abstract-wrapper">The inclusion of carriers with up to 10 trucks in Uber’s capacity pool will help build density and increase the value of its app-based service to shippers.</div>

The inclusion of carriers with up to 10 trucks in Uber’s capacity pool will help build density and increase the value of its app-based service to shippers.

<div><div><img></div>The inclusion of carriers with up to 10 trucks in Uber’s capacity pool will help build density and increase the value of its app-based service to shippers. Photo credit: Shutterstock.com.As US freight shippers <a>dig deep to find truck capacity,</a> <a>Uber Freight</a> is expanding the reach of its digital brokerage platform beyond owner-operators to include small trucking companies. Fleet Mode, a new feature launched Monday, allows small motor carriers with as many as 10 trucks to access loads posted by shippers and dispatch drivers using the Uber Freight mobile app.“There are hundreds of thousands of fleets in the country, and about...

The inclusion of carriers with up to 10 trucks in Uber’s capacity pool will help build density and increase the value of its app-based service to shippers. Photo credit: Shutterstock.com. As US freight shippers dig deep to find truck capacity, Uber Freight is expanding the reach of its digital brokerage platform beyond owner-operators to include small trucking companies. Fleet Mode, a new feature launched Monday, allows small motor carriers with as many as 10 trucks to access loads posted by shippers and dispatch drivers using the Uber Freight mobile app. “There are hundreds of thousands of fleets in the country, and about 90 percent of trucking companies operate six to 10 trucks,” Eric Berdinis, senior product manager at Uber Freight, said in an interview. “In many cases, our owner-operators say want to add trucks and expand. Fleet Mode will help those companies get to that level and serve that one-to-10 truck range.” Uber Freight is expanding its platform as shippers search for new routes to secure truck capacity at carriers large and small. Competitor Convoy last month released a feature designed to give small truckload carriers broader access to the widely used drop-and-hook process , freeing up capacity in an atypically constrained market. Uber Freight entered the digital brokerage market a year ago, introducing a mobile app that let owner-operators choose loads posted by shippers through an interface that streamlined the process, much like Uber had done with the rideshare market. In this case, however, the truck drivers would be the consumers, and the shippers posting freight the equivalent of “taxis.” The goal was to tap a pool of capacity that used relatively little technology and sourced freight from load boards, from established customers, often other small businesses, and by word of mouth. Uber Freight signed up large shippers such as Niagara Bottling to build the freight density needed to supply those truckers with more “backhauls” and “headhauls.” An expanded customer base that may increase truck capacity Expanding its trucking customer pool to include motor carriers with up to 10 trucks “will expand our base five to 10 times,” Berdinis said. He believes the potential capacity pool that could be reached via Fleet Mode may include anywhere from 500,000 to 1 million trucks operated by small truckload carriers in the most fragmented sector of the trucking industry. Previously, the mobile app’s login was tied to one truck, one motor carrier number, he said. “You couldn't have multiple logins for the same [motor carrier] number. Now fleets can manage multiple trucks under the same carrier [registration] number. We found cases where people shared an account, but that was cumbersome. We wanted to offer the simplest process for all of our users.” Fleet Mode will allow dispatchers and drivers within the same fleet to share information and see upcoming loads and which drivers are available to haul them, said Xinfeng Le, project manager for the carrier product. “Drivers will receive a push notification when they are assigned a load and they will have 30 minutes to respond,” she said. “If they accept, they’ll get the details.” Intensifies digital company versus traditional broker competition Uber Freight’s Fleet Mode expansion will intensify competition between the digital company and traditional freight brokers, and raises the stakes in the increasingly crowded digital brokerage market , where Uber Freight competes with companies such as Convoy, NEXT Trucking, and more than a dozen other startups hoping to ride the latest tech wave to trucking revenue. Fleet Mode follows the introduction of a package of incentives , Uber Freight Plus, in March to draw more drivers to its platform through discounts on a wide range of services. Those incentives include a fuel card powered by Comdata that gives Uber Freight drivers a 20-cent discount off the retail price per gallon at TA/Petro truckstops, as well as other discounts. The expansion also provides a broader pool of capacity for shippers at a point when many companies are struggling to find truckers to haul their freight. Tight capacity is helping push US truckload rates up by low double digits, shippers, carriers, and analysts say, while less-than-truckload and intermodal contract rates rise in the high single-digit range. Fleet Mode will help Uber Freight “aggregate” those small carriers as it continues to build its trucking “communities” across the United States. “We’re now operating nationally,” Berdinis said. “When we started a year ago, we were just in Texas. We built up a loyal community there, and in August last year we began building communities in California, the Midwest, and Southeast.” Uber Freight’s strategy is focused on building freight density in lanes between those “communities” to provide “consistent” freight to its truckers. “Our carriers appreciate consistent and reliable freight,” Berdinis said. “Building density gives us that reliability. It’s not one sporadic load to Chicago and then another sporadic load to Florida. You build up consistent lanes.” By broadening its pool of truckers to include small fleets, Uber Freight increases the chance it will draw more and larger shippers and build up the freight volume and lanes it needs. “Our approach has been to make it as seamless for both sides as possible,” Berdinis said. “As long as the shipper is working with us consistently, we’ll find the right freight to fill those gaps.” Also, drivers at small fleets won’t have to spend time booking loads, which means more time just driving. “Maybe they have a family member at home who can now log in and dispatch to their husband, wife, or son,” he said. “We’ve seen a lot of small family trucking operations and we think this is an opportunity to help them keep their trucks running efficiently.” Contact William B. Cassidy at bill.cassidy@ihsmarkit.com and follow him on Twitter: @willbcassidy .

Breakbulk News

Logistics Technology News

Truck brokers

Uber Freight expands reach to small US truck fleets

<div class="phx-topic abstract-wrapper">The latest Intermodal Service Scorecard from the Journal of Commerce marks a major boost in confidence that railroads can deliver reliable intermodal service only a few years after historic disruption gridlocked rail networks across North America amid pandemic-linked chaos.</div>

The latest Intermodal Service Scorecard from the Journal of Commerce marks a major boost in confidence that railroads can deliver reliable intermodal service only a few years after historic disruption gridlocked rail networks across North America amid pandemic-linked chaos.

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<div class="phx-topic">Less than five years after one of the worst congestion crises ever in the US supply chain, domestic intermodal shippers are reporting record satisfaction with rail service. In the first half of 2025, 93.9% of shippers were “satisfied” with rail service, the highest mark in the history of the Journal of Commerce <a href="https://www.joc.com/resources/special-reports/domestic-intermodal-service-scorecard">Intermodal Service Scorecard</a>. Some 87.1% of asset-based and non-asset-based intermodal marketing companies (IMCs) were also satisfied with rail performance during the period, according to the ISS, a Journal of Commerce survey of more than 300 shippers and IMCs conducted between May 1 and June 30. The survey is conducted twice each year. The results mark a major boost in confidence that railroads can deliver reliable intermodal service only a few years after historic disruption gridlocked rail networks across North America amid pandemic-linked disruptions. Union Pacific Railroad received the most votes for best domestic intermodal railroad among the six North American Class I railroads and Mexico’s Ferromex, with 38.2% in the latest ISS. In the inaugural survey conducted in early 2023 during the tenure of former CEO Lance Fritz, 52.9% of respondents voted UP the worst railroad. Two years later, UP’s current CEO Jim Vena has transformed the railroad and its intermodal business as it seeks approval from US federal regulators to create <a href="https://www.joc.com/article/up-looks-to-create-first-coast-to-coast-railroad-with-85-billion-ns-deal-6052288">the first transcontinental US railroad</a>. “We have a strong engagement strategy, and the most important part of that engagement strategy is just listening and then taking that feedback into action,” Kenny Rocker, UP’s executive vice president of marketing and sales, told the Journal of Commerce. “A transit schedule is different than execution, and when you're executing like we are, you can win more. You can put anything down on paper, but at the end of the day, you must execute to win.” <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="45ab49e4-37e7-4f99-9e19-e7928966c752"></dynamic-object></div>The improvement is even more striking given that the IMCs grading the railroads rarely change, so many who were critical of UP in early 2023 are the same ones praising it today. The shippers showed very little change in preferences. J.B. Hunt Transport Services received 41.5% of the vote for best provider. Hub Group and “other” IMCs, which include asset-light and non-asset-based brokers, ranked second and third, respectively. Asset-light provider Alliance Shippers earned high marks for the second consecutive survey, with customers citing its ability to deliver exceptional service even if it isn’t the cheapest option. “Understandably, Alliance’s pricing comes at a premium relative to the large asset providers,” one shipper wrote. “[But] accounting for the costly errors they regularly help us avoid — that the asset players previously had not — unequivocally it’s a net savings.” Non-asset brokers Cornerstone Systems, Mode Transportation and Uber Freight received similar praise. <h3>All rails except CPKC get strong scores </h3>When asked to grade railroads from 1 to 5, with five as the highest, all four US railroads scored between 3.7 and 4.2. BNSF Railway trailed UP, ranking second. CSX Transportation received a score of 3.9, unchanged from a year ago, as customers said the eastern railroad effectively communicated longer transit times caused by <a href="https://www.joc.com/article/csx-q1-service-metrics-take-hit-amid-storm-recovery-tunnel-project-5978828">two construction projects</a>, allowing them to adjust delivery schedules. CPKC received the lowest marks, with 52.3% of respondents saying it was the worst-performing railroad between Jan. 1 and June 30, reflecting winter weather and an <a href="https://www.joc.com/article/cpkc-disruptions-in-gulf-states-now-impacting-carload-intermodal-traffic-6033092">IT snafu</a> during its migration from Kansas City Southern Railway operating systems. “[We] lost business to trucking due to the inability to perform at the terminal level in Kansas City and Bensenville (Chicago),” one CPKC customer wrote. <h3>Major IMC scores </h3>Like prior surveys, J.B. Hunt scored at least 4 out of 5 on all key performance indicators. More than eight in 10 shippers were satisfied, whether J.B. Hunt handled most of their freight or served as a backup to other providers like Hub Group or Schneider National. It remains to be seen whether J.B. Hunt’s decision to apply <a href="https://www.joc.com/article/jb-hunt-says-surcharges-necessary-to-maintain-peak-season-service-6044880">a surcharge in Southern California</a> will impact scores in the next survey, though a similar move last year had no impact. Hub Group saw the largest score gain, rising to 4.1 from 3.2 year over year. Fewer customers complained about its outsourced drayage, which hurt on-time pickup and delivery scores in prior surveys. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="e941362d-3ba1-4d80-b80f-ecee796d4fdc"></dynamic-object></div>One shipper said he recently used Hub Group on a short-term basis and was pleasantly surprised how good the service was compared with a poor experience a few years earlier. But the proportion of “core customers” — i.e. those giving Hub Group most of their freight — was significantly higher than in prior surveys, skewing results. Core customers gave Hub Group a 98% satisfaction score, but customers who use Hub Group as a second or third option only gave the carrier a 46.9% score. Other metrics also showed strong support among Hub’s core customers but underperformance elsewhere. The survey shows Hub Group has made strides but still needs to improve with shippers who use it as a second or third option. Contact Ari Ashe at <a href="mailto:ari.ashe@spglobal.com">ari.ashe@spglobal.com</a>. </div>

Less than five years after one of the worst congestion crises ever in the US supply chain, domestic intermodal shippers are reporting record satisfaction with rail service. In the first half of 2025, 93.9% of shippers were “satisfied” with rail service, the highest mark in the history of the Journal of Commerce Intermodal Service Scorecard . Some 87.1% of asset-based and non-asset-based intermodal marketing companies (IMCs) were also satisfied with rail performance during the period, according to the ISS, a Journal of Commerce survey of more than 300 shippers and IMCs conducted between May 1 and June 30. The survey is conducted twice each year. The results mark a major boost in confidence that railroads can deliver reliable intermodal service only a few years after historic disruption gridlocked rail networks across North America amid pandemic-linked disruptions. Union Pacific Railroad received the most votes for best domestic intermodal railroad among the six North American Class I railroads and Mexico’s Ferromex, with 38.2% in the latest ISS. In the inaugural survey conducted in early 2023 during the tenure of former CEO Lance Fritz, 52.9% of respondents voted UP the worst railroad. Two years later, UP’s current CEO Jim Vena has transformed the railroad and its intermodal business as it seeks approval from US federal regulators to create the first transcontinental US railroad . “We have a strong engagement strategy, and the most important part of that engagement strategy is just listening and then taking that feedback into action,” Kenny Rocker, UP’s executive vice president of marketing and sales, told the Journal of Commerce. “A transit schedule is different than execution, and when you're executing like we are, you can win more. You can put anything down on paper, but at the end of the day, you must execute to win.” The improvement is even more striking given that the IMCs grading the railroads rarely change, so many who were critical of UP in early 2023 are the same ones praising it today. The shippers showed very little change in preferences. J.B. Hunt Transport Services received 41.5% of the vote for best provider. Hub Group and “other” IMCs, which include asset-light and non-asset-based brokers, ranked second and third, respectively. Asset-light provider Alliance Shippers earned high marks for the second consecutive survey, with customers citing its ability to deliver exceptional service even if it isn’t the cheapest option. “Understandably, Alliance’s pricing comes at a premium relative to the large asset providers,” one shipper wrote. “[But] accounting for the costly errors they regularly help us avoid — that the asset players previously had not — unequivocally it’s a net savings.” Non-asset brokers Cornerstone Systems, Mode Transportation and Uber Freight received similar praise. All rails except CPKC get strong scores When asked to grade railroads from 1 to 5, with five as the highest, all four US railroads scored between 3.7 and 4.2. BNSF Railway trailed UP, ranking second. CSX Transportation received a score of 3.9, unchanged from a year ago, as customers said the eastern railroad effectively communicated longer transit times caused by two construction projects , allowing them to adjust delivery schedules. CPKC received the lowest marks, with 52.3% of respondents saying it was the worst-performing railroad between Jan. 1 and June 30, reflecting winter weather and an IT snafu during its migration from Kansas City Southern Railway operating systems. “[We] lost business to trucking due to the inability to perform at the terminal level in Kansas City and Bensenville (Chicago),” one CPKC customer wrote. Major IMC scores Like prior surveys, J.B. Hunt scored at least 4 out of 5 on all key performance indicators. More than eight in 10 shippers were satisfied, whether J.B. Hunt handled most of their freight or served as a backup to other providers like Hub Group or Schneider National. It remains to be seen whether J.B. Hunt’s decision to apply a surcharge in Southern California will impact scores in the next survey, though a similar move last year had no impact. Hub Group saw the largest score gain, rising to 4.1 from 3.2 year over year. Fewer customers complained about its outsourced drayage, which hurt on-time pickup and delivery scores in prior surveys. One shipper said he recently used Hub Group on a short-term basis and was pleasantly surprised how good the service was compared with a poor experience a few years earlier. But the proportion of “core customers” — i.e. those giving Hub Group most of their freight — was significantly higher than in prior surveys, skewing results. Core customers gave Hub Group a 98% satisfaction score, but customers who use Hub Group as a second or third option only gave the carrier a 46.9% score. Other metrics also showed strong support among Hub’s core customers but underperformance elsewhere. The survey shows Hub Group has made strides but still needs to improve with shippers who use it as a second or third option. Contact Ari Ashe at ari.ashe@spglobal.com .

Surface

Rail News

North-American rail

Intermodal providers

Shippers, logistics providers satisfied with H1 rail performance

<div class="phx-topic abstract-wrapper">Containerized imports into the US last month set an all-time high, according to PIERS data, reflecting what is likely a peak in 2025 imports as shippers tried to get ahead of tariffs.</div>

Containerized imports into the US last month set an all-time high, according to PIERS data, reflecting what is likely a peak in 2025 imports as shippers tried to get ahead of tariffs.

<div class="phx-topic">Tariff-driven frontloading pushed US containerized imports to an all-time high in July, with most ports seeing double-digit volume growth over June’s numbers. While China remained the top source for overseas goods, US shippers appeared more eager to move freight from other tariff targets in southern Europe and Southeast Asia. Total US container volumes last month reached 2.609 million TEUs, the most ever recorded for a single month by PIERS, a sister company of the Journal of Commerce within S&amp;P Global. July’s volume was a 17.5% gain from June. The Trump administration’s implementation of wide-ranging tariffs against US trading partners this spring — and subsequent 90-day reprieves — were the obvious reasons for the July surge. The month’s numbers followed a 5% year-over-year decline in May volumes as <a href="https://www.joc.com/article/hapag-lloyd-saw-china-bookings-drop-hard-after-us-enacted-tariffs-5990185">freight bookings fell after Trump issued his reciprocal tariff plans</a>, and a smaller 3% decline in June as <a href="https://www.joc.com/article/trans-pacific-spot-rates-falling-as-tariff-linked-demand-surge-loses-steam-6027420">shippers started returning to the market</a> when the administration began pausing its various tariff plans. The month-to-month volatility, though, masks more normal growth in the container trade and the likelihood of a down year. US import volumes year to date through July are up 5.4%, PIERS data shows. The second half of 2025 is not likely to match those numbers, according to the National Retail Federation. <a href="https://www.joc.com/article/us-retailers-project-big-year-over-year-import-declines-to-close-out-2025-6060323">It forecasts a 5.6% decline in total container imports</a> due to the uncertain effect tariffs will have on inflation, consumer spending and the overall US economy. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="9a6fd2cc-4064-49a6-af1b-2d581edf5eb5"></dynamic-object></div><h3>China down, but not out </h3>After two consecutive months of 20% or higher declines, containerized imports from China, the biggest tariff target, rebounded in July, reaching 1.228 million TEUs, a 36% increase from June, according to PIERS. But July’s volume from China was still down 8% from a year earlier, likely reflecting the longer-term US sourcing shift away from that country. With countries such as Vietnam, Thailand and Cambodia also receiving a reprieve from tariffs, imports from that region led July’s growth. Container imports from Southeast Asia saw a 24% year-over-year gain last month, reaching a record for any month, of 581,803 TEUs. July’s volume bested the previous record of 542,414 TEUs set just in June. Imports from countries in the Indian subcontinent also reached a record high last month. PIERS data for July shows container volumes from that region totaled 152,630 TEUs, a 21% gain from a year earlier. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="cc01c87a-ccc1-4d28-8673-5c101f0b7bc8"></dynamic-object></div>Imports from Southern Europe, meanwhile, rose 7% from a year earlier to 155,587 TEUs, while July’s imports from Northern Europe were essentially flat. <h3>LA, Houston volumes stand out </h3>As the first call for most container services from Asia, the Port of Los Angeles saw strong growth in July. Containerized import volumes there reached 542,940 TEUs, PIERS data shows, a 10% increase from a year earlier and the highest monthly total for the port since August 2024. Following similarly strong volumes in June, Port of Los Angeles Executive Director Gene Seroka said last month that he expects July may represent the year’s peak season due to the tariff-driven whipsaw in volumes. “Some importers are bringing in year-end holiday cargo now ahead of potential higher tariffs later in the year,” Seroka said in a statement. “July may be our peak season month as retailers and manufacturers bring orders in earlier than usual, then brace for trade uncertainty.” Among big US ports, Houston saw the strongest year-over-year import growth, with July volumes reaching 184,418 TEUs, representing an 18.5% gain from a year earlier. The jump was largely attributable to imports from Southeast Asia, which grew 63% from a year earlier, and China, which rose 9.8%. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

Tariff-driven frontloading pushed US containerized imports to an all-time high in July, with most ports seeing double-digit volume growth over June’s numbers. While China remained the top source for overseas goods, US shippers appeared more eager to move freight from other tariff targets in southern Europe and Southeast Asia. Total US container volumes last month reached 2.609 million TEUs, the most ever recorded for a single month by PIERS, a sister company of the Journal of Commerce within S&P Global. July’s volume was a 17.5% gain from June. The Trump administration’s implementation of wide-ranging tariffs against US trading partners this spring — and subsequent 90-day reprieves — were the obvious reasons for the July surge. The month’s numbers followed a 5% year-over-year decline in May volumes as freight bookings fell after Trump issued his reciprocal tariff plans , and a smaller 3% decline in June as shippers started returning to the market when the administration began pausing its various tariff plans. The month-to-month volatility, though, masks more normal growth in the container trade and the likelihood of a down year. US import volumes year to date through July are up 5.4%, PIERS data shows. The second half of 2025 is not likely to match those numbers, according to the National Retail Federation. It forecasts a 5.6% decline in total container imports due to the uncertain effect tariffs will have on inflation, consumer spending and the overall US economy. China down, but not out After two consecutive months of 20% or higher declines, containerized imports from China, the biggest tariff target, rebounded in July, reaching 1.228 million TEUs, a 36% increase from June, according to PIERS. But July’s volume from China was still down 8% from a year earlier, likely reflecting the longer-term US sourcing shift away from that country. With countries such as Vietnam, Thailand and Cambodia also receiving a reprieve from tariffs, imports from that region led July’s growth. Container imports from Southeast Asia saw a 24% year-over-year gain last month, reaching a record for any month, of 581,803 TEUs. July’s volume bested the previous record of 542,414 TEUs set just in June. Imports from countries in the Indian subcontinent also reached a record high last month. PIERS data for July shows container volumes from that region totaled 152,630 TEUs, a 21% gain from a year earlier. Imports from Southern Europe, meanwhile, rose 7% from a year earlier to 155,587 TEUs, while July’s imports from Northern Europe were essentially flat. LA, Houston volumes stand out As the first call for most container services from Asia, the Port of Los Angeles saw strong growth in July. Containerized import volumes there reached 542,940 TEUs, PIERS data shows, a 10% increase from a year earlier and the highest monthly total for the port since August 2024. Following similarly strong volumes in June, Port of Los Angeles Executive Director Gene Seroka said last month that he expects July may represent the year’s peak season due to the tariff-driven whipsaw in volumes. “Some importers are bringing in year-end holiday cargo now ahead of potential higher tariffs later in the year,” Seroka said in a statement. “July may be our peak season month as retailers and manufacturers bring orders in earlier than usual, then brace for trade uncertainty.” Among big US ports, Houston saw the strongest year-over-year import growth, with July volumes reaching 184,418 TEUs, representing an 18.5% gain from a year earlier. The jump was largely attributable to imports from Southeast Asia, which grew 63% from a year earlier, and China, which rose 9.8%. Contact Michael Angell at michael.angell@spglobal.com .

Maritime

Container Shipping News

Port News

Asia-Europe

Trans-Pacific

Whipsaw from Trump’s tariffs drove US container import record in July

<div class="phx-topic abstract-wrapper">With only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo.  </div>

With only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. 

<div class="phx-topic">Crashing container shipping rates and increasing vessel oversupply have pushed liner operators to increase their exposure to breakbulk opportunities — and with abundant spare capacity they will be competitive, according to sector specialists. Justin Archard, managing partner at One World Shipbrokers, told the Journal of Commerce the year-plus fall in global container rates and newbuild delivery glut come as an increasing number of large and ultra-large multipurpose vessels (MPVs) have been committed to long distance and primary port pairs on liner/semi-liner schedules.  That combination will lead smaller MPVs and project carriers to reduce their exposure to direct volume-based competition by focusing on how they can exploit their core strengths of small port capability and flexible service schedules. “Whilst container operators are sometimes breakbulk predators, they are less willing to handle large unit numbers of loose breakbulk,” Archard said. “This has always and will always be one of MPVs great strengths.” The Market Sentiment Index (MSI) for the MPV and breakbulk industry, developed by Archard, sank to its lowest in 15 months in the August edition. However, at 53.0, the index is still above the 50.0 barrier, denoting optimism rather than pessimism or wariness. The MSI averages the responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="1f91d0fb-eb2a-4150-aa07-3afb03099e22"></dynamic-object></div>Those surveyed spoke of increasing, but so far manageable, pressure in the general breakbulk market. “We still maintain a cautious optimistic stance on the long term, driven by the fact that newbuilding orders do not pose yet a big threat on the supply front and demand for renewable energy combined with oil &amp; gas capex planning and infrastructure projects will remain on high levels,” one source said.  Another source commented that the MPV charter market remains “completely illiquid” with any tonnage being brought to the market directed toward long-term charters. <h3>Toepfer index reflects ‘stability’ </h3>Slight downward movement in Toepfer Transport’s Toepfer Multipurpose Index (TMI) illustrates the building pressure. The August reading of $12,818 is down 0.67% from July; consequently, the TMI “maintains its stability,” Toepfer said in its report. The broker also noted a parallel decline in transactions in the secondhand MPV market, “which could potentially impact market pricing.” The TMI is based on expected average rates for six- to 12-month time charters for 12,500-deadweight-ton “F-Type” vessels with safe working loads (SWLs) of 240 to 360 metric tons, as reported to Toepfer by owners and operators. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="ea382181-08cd-4298-912f-87c79836bcf7"></dynamic-object></div>Archard said that with only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. Also, consolidation of carriers over the past decade has meant the investment decisions about new tonnage are in fewer hands than ever before.  “It is in owners’ interests to engineer and maintain a slight supply deficit wherever possible,” Archard said. “Enzo Ferrari famously once said — ‘I will always deliver one less Ferrari than the market demands,’ and this reticence to increase fleet numbers is starting to show up in the Market Sentiment Index fleet supply readings.”  He noted both short- and longer-term market indicators signal a tightening, which carriers will see as healthy for their business and a vindication of their policies.  “However, as freight rates rise in this tightening scenario, some shippers may be driven to seek alternative ocean transport options,” Archard said. “The balance is fragile and the pendulum is always swinging.” Contact Carly Fields at <a href="mailto:carly.fields@spglobal.com">carly.fields@spglobal.com</a>. </div>

Crashing container shipping rates and increasing vessel oversupply have pushed liner operators to increase their exposure to breakbulk opportunities — and with abundant spare capacity they will be competitive, according to sector specialists. Justin Archard, managing partner at One World Shipbrokers, told the Journal of Commerce the year-plus fall in global container rates and newbuild delivery glut come as an increasing number of large and ultra-large multipurpose vessels (MPVs) have been committed to long distance and primary port pairs on liner/semi-liner schedules.  That combination will lead smaller MPVs and project carriers to reduce their exposure to direct volume-based competition by focusing on how they can exploit their core strengths of small port capability and flexible service schedules. “Whilst container operators are sometimes breakbulk predators, they are less willing to handle large unit numbers of loose breakbulk,” Archard said. “This has always and will always be one of MPVs great strengths.” The Market Sentiment Index (MSI) for the MPV and breakbulk industry, developed by Archard, sank to its lowest in 15 months in the August edition. However, at 53.0, the index is still above the 50.0 barrier, denoting optimism rather than pessimism or wariness. The MSI averages the responses from an anonymous group of 20 to 30 MPV owners and operators to a set of breakbulk shipping-related questions. Those surveyed spoke of increasing, but so far manageable, pressure in the general breakbulk market. “We still maintain a cautious optimistic stance on the long term, driven by the fact that newbuilding orders do not pose yet a big threat on the supply front and demand for renewable energy combined with oil & gas capex planning and infrastructure projects will remain on high levels,” one source said.  Another source commented that the MPV charter market remains “completely illiquid” with any tonnage being brought to the market directed toward long-term charters. Toepfer index reflects ‘stability’ Slight downward movement in Toepfer Transport’s Toepfer Multipurpose Index (TMI) illustrates the building pressure. The August reading of $12,818 is down 0.67% from July; consequently, the TMI “maintains its stability,” Toepfer said in its report. The broker also noted a parallel decline in transactions in the secondhand MPV market, “which could potentially impact market pricing.” The TMI is based on expected average rates for six- to 12-month time charters for 12,500-deadweight-ton “F-Type” vessels with safe working loads (SWLs) of 240 to 360 metric tons, as reported to Toepfer by owners and operators. Archard said that with only low-capacity increases forecast for the MPV fleet, operators believe they will be able to handle the predicted increases in project cargo. Also, consolidation of carriers over the past decade has meant the investment decisions about new tonnage are in fewer hands than ever before.  “It is in owners’ interests to engineer and maintain a slight supply deficit wherever possible,” Archard said. “Enzo Ferrari famously once said — ‘I will always deliver one less Ferrari than the market demands,’ and this reticence to increase fleet numbers is starting to show up in the Market Sentiment Index fleet supply readings.”  He noted both short- and longer-term market indicators signal a tightening, which carriers will see as healthy for their business and a vindication of their policies.  “However, as freight rates rise in this tightening scenario, some shippers may be driven to seek alternative ocean transport options,” Archard said. “The balance is fragile and the pendulum is always swinging.” Contact Carly Fields at carly.fields@spglobal.com .

Project cargo

Breakbulk carriers

Tight MPV supply countered by container rate crash, ship glut

<div class="phx-topic abstract-wrapper">When the proposed agreement is adopted in October, as expected, all international shipping will be bound by the decarbonization regulation, an official at the shipping association pointed out. </div>

When the proposed agreement is adopted in October, as expected, all international shipping will be bound by the decarbonization regulation, an official at the shipping association pointed out.

<div class="phx-topic">The US’ formal rejection of the International Maritime Organization’s (IMO’s) net-zero framework agreement will have little impact on the emissions regulation that, once adopted, will still require compliance from all ships trading internationally, according to shipping association Bimco. The net-zero proposal will be promulgated at the next meeting of the IMO’s Marine Environment Protection Committee (MEPC) in October, where it is expected to pass with the required two-thirds majority. “Even when, or if, the US places reservations that the rule will not apply to them, it will, because all ships of non-US-flag trading internationally are bound by their flag [and] US-flag ships will also be required to comply if they trade internationally,” Lars Robert Pedersen, deputy secretary-general and director of regulatory affairs at Bimco, told the Journal of Commerce Wednesday. Only about 80 merchant ships currently trade internationally under the US flag, according to maritime insurers UK P&amp;I Club. Vowing “to protect the American people and their economic interests,” the White House on Tuesday called on IMO members to reject the agreement and threatened to retaliate against those supporting the proposal. “Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens should this endeavor fail,” Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright and Secretary of Transportation Sean Duffy said in a joint statement. <h3>‘A global carbon tax on Americans’ </h3>“Whatever its stated goals, the proposed framework is effectively a global carbon tax on Americans levied by an unaccountable UN organization,” the US statement said, adding that the US would not accept any environmental regulation that “unduly or unfairly burdens the United States or harms the interests of the American people.” Despite the formal rejection by the White House and its ongoing criticism of the UN and its many agencies, the statement drew a diplomatic response from the IMO. “The IMO net-zero framework was approved in April 2025 and represents a collective commitment by member states to deliver on shared goals outlined in the Revised IMO Strategy on the Reduction of GHG emissions that was adopted in 2023,” an IMO spokesperson told the Journal of Commerce. “The upcoming MEPC session in October provides the appropriate platform to address any concerns from member states ahead of the adoption process,” the IMO added. Considering <a href="https://www.joc.com/article/us-pulls-out-of-imo-climate-talks-threatens-retaliation-for-emissions-fees-5980359">the US decision to walk out of the MEPC’s 83rd meeting</a> in April in protest over the decarbonization talks, and with the now-formal rejection of the net-zero framework, it appears unlikely the US will attend the MEPC October meeting to “address any concerns.” The World Shipping Council (WSC), a trade body representing the container shipping and roll-on/roll-off industry, declined to comment, saying the matter has become a political one rather than being about policy. <h3>Shipping faces progressively increasing charges </h3>No universal carbon levy was agreed to at the contentious MEPC meeting in April, but if the framework is adopted in October, shipping’s global carbon emissions will carry progressively increasing charges for the first time. A <a href="https://www.joc.com/article/imo-deal-on-fuel-intensity-pricing-hailed-as-major-step-forward-5986720">key standard in the new regulation</a> will be the fuel intensity used by global shipping, measured on a well-to-wake basis that covers the full lifecycle of the fuel. Starting in 2027, ships must lower their fuel intensity by a certain percentage compared with the baseline set in 2008. But Rico Luman, senior economist for transport and logistics at global bank ING, believes the lack of US participation in the net-zero framework could hamper the adoption of the IMO regulation. “The system, when enforced in 2027, will apply globally and also applies to journeys to and from the US ... if the US doesn’t accept the effectuation, this will complicate the whole system,” Luman said in a statement, adding that the US threat to retaliate could make other IMO members hesitate in their support of the proposal. Luman said there may be a “more climate-friendly” US administration in place in the years after the first reporting of the IMO measure is required in 2028, but any delay will hamper reaching the IMO’s already ambitious shipping decarbonization targets in 2040 and 2050. “There’s not much time left as implementation usually takes years of preparation — also to enable companies to prepare themselves — and CO2 emissions have failed to get on a downward track over the last few years,” Luman said. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

The US’ formal rejection of the International Maritime Organization’s (IMO’s) net-zero framework agreement will have little impact on the emissions regulation that, once adopted, will still require compliance from all ships trading internationally, according to shipping association Bimco. The net-zero proposal will be promulgated at the next meeting of the IMO’s Marine Environment Protection Committee (MEPC) in October, where it is expected to pass with the required two-thirds majority. “Even when, or if, the US places reservations that the rule will not apply to them, it will, because all ships of non-US-flag trading internationally are bound by their flag [and] US-flag ships will also be required to comply if they trade internationally,” Lars Robert Pedersen, deputy secretary-general and director of regulatory affairs at Bimco, told the Journal of Commerce Wednesday. Only about 80 merchant ships currently trade internationally under the US flag, according to maritime insurers UK P&I Club. Vowing “to protect the American people and their economic interests,” the White House on Tuesday called on IMO members to reject the agreement and threatened to retaliate against those supporting the proposal. “Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens should this endeavor fail,” Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick, Secretary of Energy Chris Wright and Secretary of Transportation Sean Duffy said in a joint statement. ‘A global carbon tax on Americans’ “Whatever its stated goals, the proposed framework is effectively a global carbon tax on Americans levied by an unaccountable UN organization,” the US statement said, adding that the US would not accept any environmental regulation that “unduly or unfairly burdens the United States or harms the interests of the American people.” Despite the formal rejection by the White House and its ongoing criticism of the UN and its many agencies, the statement drew a diplomatic response from the IMO. “The IMO net-zero framework was approved in April 2025 and represents a collective commitment by member states to deliver on shared goals outlined in the Revised IMO Strategy on the Reduction of GHG emissions that was adopted in 2023,” an IMO spokesperson told the Journal of Commerce. “The upcoming MEPC session in October provides the appropriate platform to address any concerns from member states ahead of the adoption process,” the IMO added. Considering the US decision to walk out of the MEPC’s 83rd meeting in April in protest over the decarbonization talks, and with the now-formal rejection of the net-zero framework, it appears unlikely the US will attend the MEPC October meeting to “address any concerns.” The World Shipping Council (WSC), a trade body representing the container shipping and roll-on/roll-off industry, declined to comment, saying the matter has become a political one rather than being about policy. Shipping faces progressively increasing charges No universal carbon levy was agreed to at the contentious MEPC meeting in April, but if the framework is adopted in October, shipping’s global carbon emissions will carry progressively increasing charges for the first time. A key standard in the new regulation will be the fuel intensity used by global shipping, measured on a well-to-wake basis that covers the full lifecycle of the fuel. Starting in 2027, ships must lower their fuel intensity by a certain percentage compared with the baseline set in 2008. But Rico Luman, senior economist for transport and logistics at global bank ING, believes the lack of US participation in the net-zero framework could hamper the adoption of the IMO regulation. “The system, when enforced in 2027, will apply globally and also applies to journeys to and from the US ... if the US doesn’t accept the effectuation, this will complicate the whole system,” Luman said in a statement, adding that the US threat to retaliate could make other IMO members hesitate in their support of the proposal. Luman said there may be a “more climate-friendly” US administration in place in the years after the first reporting of the IMO measure is required in 2028, but any delay will hamper reaching the IMO’s already ambitious shipping decarbonization targets in 2040 and 2050. “There’s not much time left as implementation usually takes years of preparation — also to enable companies to prepare themselves — and CO2 emissions have failed to get on a downward track over the last few years,” Luman said. Contact Greg Knowler at greg.knowler@spglobal.com .

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US rejection of IMO ‘net-zero’ framework won’t change outcome: Bimco

<div class="phx-topic abstract-wrapper">The funds will mostly be spent on further development of its platform for shippers, including investment in AI.</div>

The funds will mostly be spent on further development of its platform for shippers, including investment in AI.

<div class="phx-topic">A persistent low-rate truckload environment hasn’t hampered the growth of shipper-focused procurement and orchestration software provider GoodShip, which has landed a $25 million funding round on the back of significantly growing revenue in 2024. The funding round will mostly be spent on further development of its platform for shippers, including investment in AI, GoodShip said in a statement Tuesday. The company has raised $40 million to date. GoodShip was founded in 2022 to help shippers benchmark their truckload contract rates and has evolved to help users build bids and do scenario planning to apportion volume to various carriers and brokers. Its revenue growth comes as the truckload market is contending with a prolonged period of overcapacity and dampened demand, partly due to economic uncertainty in 2025. But GoodShip CEO Ryan Soskin told the Journal of Commerce the platform is meant to be used in all supply-demand environments. “Even in a soft market, we’re finding that there are very meaningful savings and service opportunities,” Soskin said. “It’s just that they have been historically hard to find, buried in the aggregate of massive amounts of data for large shippers.” As an example, he said nearly every GoodShip customer identifies situations where they have over-tendered freight to high-cost carriers. “If the lane overall is moving close to market average, the shipper usually doesn’t know to dig in to individual lane-carrier combinations within the lane that may be uncompetitive,” Soskin said. “We pinpoint these opportunities for them, and typically making a few minor tweaks results in massive savings.” GoodShip’s customers include Kellanova, Tropicana, Central Garden &amp; Pet, KeHe Distributors, and KBX Logistics. Soskin said the company is seeing traction in food and beverage, consumer packaged goods, paper/packaging, and industrials. Contact Eric Johnson at <a href="mailto:eric.johnson@spglobal.com">eric.johnson@spglobal.com</a>. </div>

A persistent low-rate truckload environment hasn’t hampered the growth of shipper-focused procurement and orchestration software provider GoodShip, which has landed a $25 million funding round on the back of significantly growing revenue in 2024. The funding round will mostly be spent on further development of its platform for shippers, including investment in AI, GoodShip said in a statement Tuesday. The company has raised $40 million to date. GoodShip was founded in 2022 to help shippers benchmark their truckload contract rates and has evolved to help users build bids and do scenario planning to apportion volume to various carriers and brokers. Its revenue growth comes as the truckload market is contending with a prolonged period of overcapacity and dampened demand, partly due to economic uncertainty in 2025. But GoodShip CEO Ryan Soskin told the Journal of Commerce the platform is meant to be used in all supply-demand environments. “Even in a soft market, we’re finding that there are very meaningful savings and service opportunities,” Soskin said. “It’s just that they have been historically hard to find, buried in the aggregate of massive amounts of data for large shippers.” As an example, he said nearly every GoodShip customer identifies situations where they have over-tendered freight to high-cost carriers. “If the lane overall is moving close to market average, the shipper usually doesn’t know to dig in to individual lane-carrier combinations within the lane that may be uncompetitive,” Soskin said. “We pinpoint these opportunities for them, and typically making a few minor tweaks results in massive savings.” GoodShip’s customers include Kellanova, Tropicana, Central Garden & Pet, KeHe Distributors, and KBX Logistics. Soskin said the company is seeing traction in food and beverage, consumer packaged goods, paper/packaging, and industrials. Contact Eric Johnson at eric.johnson@spglobal.com .

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Truckload procurement tool GoodShip lands $25 million funding round

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At SSA Marine Mexico, we firmly believe that business development must go hand in hand with social and environmental well-being. Our vision is not solely focused on operating efficiently, but also on creating a meaningful and positive impact in the communities where we are present. Since 1995, we have reaffirmed this commitment through tangible actions that reflect our core values of responsibility, solidarity, and sustainability. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584535914_Photo%201.jpg" alt="" class="joc_admin__inline-image-inherit"> A Year of Major Achievements Over the past year, we allocated more than $107,000 USD to the implementation of 60 social and environmental projects, positively impacting over 7,800 people across various regions of Mexico. Each initiative was designed with a holistic approach, addressing key areas that contribute to long-term community development. Education: Laying the Foundation for the Future Education is one of the most powerful tools to promote social mobility and equitable development. At SSA Marine Mexico, we support academic initiatives that inspire and empower the next generation of leaders. One of our most impactful partnerships was with the University of Colima, where we sponsored the “Reto Camp” program. This initiative encourages university students to develop innovative solutions in the fields of sustainability, logistics, and port operations, offering them mentorship, tools, and real-world challenges to solve. In addition, we donated microscopes, school supplies, and educational materials to institutions in underserved communities, helping to improve the learning environment and provide students with the resources they need to succeed. Health and Sports: Promoting Wellness We believe that healthy communities are strong communities. We have supported several local sporting events and provided direct assistance to talented athletes, enabling them to pursue their passions and represent their regions with pride. Beyond sports, we also strengthened our collaboration with critical emergency response organizations such as the Mexican Red Cross and Civil Protection. Our contributions helped enhance their readiness and capabilities in times of crisis, ensuring better outcomes for those affected by emergencies. Supporting Vulnerable Groups: Reaching Those Who Need It Most A core part of our social responsibility efforts is directed toward supporting vulnerable populations. We have contributed to a range of initiatives focused on children, migrants, and at-risk families. These efforts included donations to orphanages and shelters, as well as support for the National Institute of Migration and grassroots organizations dedicated to protecting and empowering people facing adversity. By standing with those in need, we reinforce our commitment to inclusion and social justice, values that are central to our identity as a responsible company. <span class="joc_admin__inline-image joc_admin__inline-image-aspect-ratio-3_2 joc_admin__inline-image-position-left joc_admin__inline-image-size-medium" data-figure-size="medium" data-figure-position="left" data-figure-aspect-ratio="3:2"><img src="/content-assets/1752584944645_Photo%202.png" alt="" class="joc_admin__inline-image-inherit">Culture: Strengthening Community Identity Cultural identity is a key element in building resilient and united communities. At SSA Marine Mexico, we actively participate in the organization and sponsorship of cultural events that celebrate local traditions and foster civic pride. Working alongside port authorities and municipal governments, we helped bring music, art, and heritage to the forefront, creating spaces for community engagement and intercultural dialogue. Environment: Investing in the Planet Our commitment to sustainability goes beyond operations—it’s a philosophy that drives every decision we make. We have partnered with environmental institutions to carry out reforestation campaigns, beach cleanups, and conservation efforts. In collaboration with the Institute for the Environment, we supported initiatives aimed at decarbonization, biodiversity protection, and environmental education. By involving our employees and local volunteers in these actions, we also foster a culture of environmental stewardship throughout our organization and our surrounding communities. Innovation for a Sustainable Future Sustainability is not just about doing good—it’s also about doing things better. In 2024, we invested $22 million USD in the acquisition of 11 state-of-the-art E-RTG cranes. These electric rubber-tired gantry cranes represent a significant technological advancement in port equipment. Seven of them are already operating on clean electric energy, resulting in a reduction of nearly 4,000 tons of CO₂ emissions and improving operational efficiency by 7%. The remaining four cranes are fully compatible with future electrification, underscoring our long-term strategy to modernize our operations in an environmentally responsible way. This investment is part of a broader innovation roadmap that includes digitalization, automation, and cleaner energy sources—all designed to ensure that our ports continue to grow without compromising the health of our planet. Building a Better Tomorrow, Together At SSA Marine Mexico, we understand that sustainability is a shared and ongoing responsibility. 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