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AntwerpXL Postponed to October 2022

antwerpxl
Archives, Executive Education, Global Trade Daily, News

AntwerpXL Postponed to October 2022

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AntwerpXL, the award-winning breakbulk and heavy lift event, has been postponed from December 2021 to 4 – 6 October 2022.

The decision has been made in consultation with the community due to the announcement on Covid restrictions by the Government in Belgium last week. The situation looks likely to continue for the weeks ahead, directly impacting Easyfairs’ ability to serve the industry in the best possible way.

AntwerpXL, which during its incredible first edition attracted key visitors and exhibitors from across the industry’s biggest, best and most innovative players, will be held at the Antwerp Expo in Antwerp, Belgium in October 2022.

Sophie McKimm, Event Manager of AntwerpXL, says: “After the success of the inaugural event, we know how valuable holding an event in person is to the industry. In an industry survey, over 82% of respondents choose a live exhibition similar to previous years as their preferred format for a future event, once safe to do so. We are confident that, with the new dates we will achieve great success!”

Jacques Vandermeiren, CEO of Port of Antwerp, says: “We were all looking forward to meeting each other live again at this Christmas edition. After all, the breakbulk community relies strongly on interpersonal relationships and the COVID situation has been testing us for a long time now. As difficult as this decision was, it is best for everyone’s safety. Easyfairs can count on our continued support to reunite the breakbulk community in Antwerp on 4 – 6 October 2022.”

XL Connect, AntwerpXL’s 1-2-1 meetings program, will continue to facilitate networking online from 7 – 9 December 2021. Those looking to connect with industry peers and enable business can still do so by registering for the 2021 event. Once registered you will receive your personal link and more information on how to book your meetings on this networking platform.

AntwerpXL provides all-year-round knowledge and resources, feeding into a platform for the industry to come together, networking with people from across the industry and find the products and solutions needed for their businesses. For more information about the event, visit www.antwerpxl.com.

_________________________________________________________________

About AntwerpXL

AntwerpXL is a three-day exhibition and conference for the breakbulk and heavy lift industry. Industry leaders will meet to stay ahead of the competition, network and gain new business at the Antwerp Expo in Antwerp, Belgium on 4 – 6 October 2022. Find out more at www.antwerpxl.com.

About Easyfairs

Visit the future with Easyfairs and find out more on www.easyfairsgroup.com.

For further information, please contact:

Rikki Bhachu, Head of Marketing, Easyfairs

Rikki.bhachu@easyfairs.com

+44 (0)20 3196 4282

Bruna Rodrigues, Marketing Executive, Easyfairs

Bruna.rodrigues@easyfairs.com

+44 (0)20 3196 4396

sugar
Archives, Global Trade Daily, Imports/Exports, International Trade

Brazil’s Sugar Exports to Reach the Highest Level with Doubling Supplies to China

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IndexBox has just published a new report: ‘Brazil – Sugar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

From January to August 2021, Brazil’s exported 23.7M tonnes, which was 26% larger than in the same period of 2020. This year, China’s sugar purchases from Brazil have doubled, reaching 4M tonnes. Shipments to Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates have also grown sharply. Last year, sugar exports from Brazil hit record 27M tonnes, jumping by +67% y-o-y. In value terms, exports constituted $7.4B. China, Algeria and Bangladesh were the largest importers of Brazilian sugar in 2020. 

Brazil’s Sugar Exports by Country

From January to August 2021, Brazil’s sugar exports reached 23.7M tonnes, up 26% from the same period in 2020. In value terms, exports exceeded $5.8B over eight-month of 2021. It is expected that sugar exports from Brazil will hit the last year’s record by the end of 2021.

This year, soaring supplies to China, Algeria, Nigeria, Saudi Arabia, Malaysia, Canada, and the United Arab Emirates provided the most export increment. China’s sugar purchases rose twofold against the same period of 2020, reaching 4M tonnes by September 2021.

In 2020, the amount of sugar exported from Brazil skyrocketed to 27M tonnes, jumping by +67% compared with 2019. In value terms, sugar exports skyrocketed by +70% y-o-y to $7.4B (IndexBox estimates) in 2020.

China (4.7M tonnes), Algeria (2.4M tonnes) and Bangladesh (2.3M tonnes) were the main destinations of sugar exports from Brazil, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 51%.

In 2020, the most notable rate of growth in terms of shipments, amongst the leading countries of destination, was attained by Malaysia, while exports for the other leaders experienced more modest paces of growth. Malaysian sugar purchases from Brazil grew fourfold in physical terms.

In value terms, China ($1.3B), Algeria ($669M) and Bangladesh ($628M) constituted the largest markets for sugar exported from Brazil worldwide, with a combined 35% share of total exports. These countries were followed by India, Indonesia, Nigeria, Morocco, Malaysia, Saudi Arabia, Iraq, the United Arab Emirates, Canada and Egypt, which together accounted for a further 50%.

In 2020, the average sugar export price amounted to $277 per tonne, almost unchanged from the previous year. Average prices varied noticeably for the significant foreign markets. In 2020, the countries with the highest prices were Morocco ($281 per tonne) and Bangladesh ($279 per tonne), while the average prices for exports to Iraq ($263 per tonne) and Indonesia ($269 per tonne) were amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to Morocco, while the prices for the other significant destinations experienced more modest paces of growth.

Source: IndexBox Platform

automotive
Archives, Commentary, Global Trade Daily

Automotive Logistics Solutions and Transport Services In 2022

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Have you ever wondered about the processes that go into delivering your vehicle to you? Rest assured there is a lot that goes on in automotive logistics. You might think that it is as easy and smooth as your usual online purchases, but there is a whole process going on before your car can arrive at its final destination.

Automotive Logistics and Transportation Services

First, let us look into what automotive logistics really is.

The automotive supply chain is composed of all stakeholders. This includes companies and individuals that are relevant to the automotive industry, including international and commercial shipping, storing, and even local delivery professionals.

This whole process involves active mobility of all automotive parts, including components and replacement parts, and final products. Furthermore, the active involvement of organizations such as maintenance and repair providers is also essential in making the whole chain operate successfully. Services of such organizations like Autobedrijf Geesteren play an important role in maintaining the quality of our vehicles. They provide their expertise in making sure that vehicles are in the best condition at all times.

Once you receive the car, there is the maintenance aspect by car service experts. If you’re in the transport industry you will understand why you need professional services. Keeping the vehicles in top running order will be critical.

The automotive industry has long been one of the most profitable industries. So, in 2022, it is expected to even grow bigger as new technology is introduced.

Below are some of the things we can expect from this industry.

Automotive Logistic Forecast 

2020 and 2021 experienced major disruptions due to the Covid-19 pandemic. Some companies had to shut down, thereby affecting supply. Social distancing and quarantines made it impossible to continue work as usual. But now, the world is starting to adjust back to normal.

While there may not be a full return to normalcy anytime soon, things are looking up. We can expect interesting trends and solutions to come into play and automotive industry players have a lot to look forward to.

The auto dealer forecasts an increase in demand for transport as operations resume. There is also an opportunity for partnerships with logistics companies. The challenge will come in ensuring timely deliveries and reducing lead times.  

But that’s not all. The automobile industry faced a slowdown during the outbreak of the pandemic. There was a disruption in the manufacturing and supply chain of automobiles. Thankfully, 2022 may see the resumption of services. There is great positivity in the sector as players gear up to fill in any gaps.  

Autonomous Vehicles to Make an Impact

The interest in autonomous vehicles is not new. But, the focus has largely been on the consumer, rather than the logistics sector. The impact of such cars in the transport sector is gaining interest. Major logistics companies like UPS and DHL are making a foray into determining the viability of autonomous delivery cars. The companies see benefits in terms of higher efficiency and a reduction in operational costs.  

Autonomous vehicles can take care of a significant challenge in the supply chain. The American Trucking Association estimates a shortage of about 80,000 truck drivers. The situation is so dire that it could be twice that number by 2030. Lack of drivers means goods do not reach the shelves or customers. It is a great concern that needs addressing. But, therein lies the opportunity to look for sustainable solutions. Autonomous cars may free up the dependence on human labor.  

Investor Interest in Innovations Is Increasing 

Autonomous trucks are generating significant interest amongst investors. As of 2019, they have injected $11 billion into startups working on autonomous trucks. One such company is Aurora that is on track to go public.

Other startups include Embark Trucks, Plus and Simple, Waymo, and Locomation. And, traditional truck makers and auto parts dealers are not taking chances. They understand the direction the industry is going. That is why many are entering into partnerships with tech companies.   

It will be interesting to see whether the industry can have fully self-driving trucks. It might not happen within 2022, but we can expect plenty of reports on pilots or demonstrations from the startups.           

Role of the Internet and Artificial Intelligence 

Internet-connected vehicles will become more commonplace going forward as connectivity enhances communication. Drivers can get information on road safety, weather, road congestion/condition, accidents, or speed limits.  

Remote diagnostics and system updates will be easy with vehicle-to-cloud connectivity. Companies can monitor and get real-time data on vehicle location. Such information increases security and allows for the prediction of arrival times. The Internet of Things (IoT) will impact every step of the supply chain. It will enhance communication between manufacturers and logistics companies.   

Artificial intelligence is already part of the automobile manufacturing industry. The applications are numerous including supply chain optimization and vehicle assembly. AI also takes care of mundane, repetitive tasks. The teams can focus on other core areas. These include research, innovation, and design.  

Yet, all those functionalities do not uncover the full potential of AI in the automobile industry. The technologies have a significant role to play in predictive monitoring, quality control, and early detection of defects.  

AI allows teams to collect data that improves the decision-making process. Logistics companies can use such to make predictions — like best carriers or modes of transportation for maximum reliability and profit. Auto companies can forecast demand by understanding the customer’s purchasing behavior.  We predict a future where AI commands a much larger space in the industry. 

Overcoming Logistics and Transportation Challenges

As the world moves to 2022, those in the logistics and transport sectors must overcome several challenges. The pandemic has some great lessons to teach, including the need for better preparedness through solid contingency plans.

Creating agile solutions must take center stage as we move closer to the new year. The sector has to look into ways to cut down costs, and quick solutions are available in things like process automation and the use of AI. Data analysis can, for instance, help with route optimization. Real-time data provides road condition information while truckers can take the best routes to ensure they meet deadlines. AI will improve efficiency thus cutting down on production times. All these benefits will trickle down to the end-users. 

Innovations like autonomous cars will increase efficiency. They also provide a contingency plan to avoid challenges like driver shortage. Industry players must work together to come up with sustainable solutions.  

Technologies like blockchain may provide a solution to fraud cases. Transport and logistic companies can manage inventory better. The technology does not allow for data alteration, without raising a flag.

And, the real-time insights will make it easier for the companies to communicate with customers. Efficient inventory tracking and management will enhance operations all around.  

Final Thoughts

2022 will be a time for recovery for many industries. It is clear that the pandemic will cross over into the New Year. The good news is businesses are stabilizing once again. There will be greater adoption of technologies like IoT, AI, and blockchain. The aim is for higher efficiency at lower costs.

The automobile and transport sector has a lot to look forward to. Autonomous vehicles may hit the streets in a big way. Perhaps the most exciting will be seeing a self-driving truck. With the level of interest amongst startups and investors, it may happen sooner than we can predict.

metal
Archives, Global Trade Daily, News

American Exports of Light Gauge Metal Containers Doubled in the Past Five Years

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IndexBox has just published a new report: ‘U.S. Metal Box And Light Gauge Container Market. Analysis And Forecast to 2025‘. Here is a summary of the report’s key findings.

Over the past five years, American exports of metal boxes and light gauge containers have doubled in value terms, from $475M to $927M. Canada imports 97% of metal containers supplying abroad from America. In physical terms, Canada ramped up its imports from the U.S. by +62.9% y-o-y in 2020. 

American Exports of Metal Boxes and Light Gauge Containers

In 2020, approx. 4.7B units of metal boxes and light gauge containers were exported from the U.S.; jumping by +31% against the previous year’s figure. In the past five years, exports grew from 735M units to 4.7B units.

In value terms, exports of metal boxes and light gauge containers rose markedly to $927M (IndexBox estimates) in 2020. Overall, total exports indicated a buoyant expansion from 2015 to 2020: its value increased at an average annual rate of +45.9% over the last five-year period.

Canada (4.6B units) was the main destination for exports of metal boxes and light gauge containers from the U.S., with a 97% share of total exports. It was followed by Mexico (105M units), with a 2.2% share of total exports. In 2020, the volume of imports to Canada rose by +62.9% y-o-y.

In value terms, Canada ($605M) remains the key foreign market for metal box and light gauge container exports from the U.S., comprising 65% of total exports. The second position in the ranking was occupied by Mexico ($191M), with a 21% share of total exports. From 2015 to 2020, the average annual rate of growth in terms of value to Canada amounted to +25.5%.

Source: IndexBox Platform

fish
Archives, Global Trade Daily, News

American Frozen Fish Meat Exports Slump on Falling Demand from Japan

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IndexBox has just published a new report: ‘U.S. – Frozen Fish Meat – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

American frozen fish meat exports dropped from $602M in 2019 to $518M in 2020 amid the declining demand from Japan and South Korea. In physical terms, exports shrank by -9.5% y-o-y to 198K tonnes. South Korea, Japan and France constitute the leading importers, accounting for 65% of American frozen fish meat exports. The average export price for frozen fish meat from the U.S. decreased by -4.8% y-o-y to $2,623 per tonne in 2020.

American Frozen Fish Meat Exports by Country

In 2020, frozen fish meat exports from the U.S. declined to 198K tonnes, reducing by -9.5% against the year before. In value terms, frozen fish meat exports shrank from $602M in 2019 to $518M (IndexBox estimates) in 2020.

South Korea (61K tonnes), Japan (51K tonnes) and France (17K tonnes) were the main destinations of frozen fish meat exports from the U.S., with a combined 65% share of total exports. The Netherlands, Spain, Lithuania and Canada lagged somewhat behind, together accounting for a further 24%.

American supplies to Japan dropped from 75K tonnes to 51K tonnes last year. Exports to South Korea reduced from 68K tonnes to 61K tonnes. By contrast, frozen fish meat exports to the Netherlands increased by +50%, reaching 14K tonnes in 2020.

In value terms, the largest markets for frozen fish meat exported from the U.S. were South Korea ($162M), Japan ($128M) and France ($45M), with a combined 65% share of total exports. These countries were followed by Spain, Lithuania, the Netherlands and Canada, which together accounted for a further 25%.

The average export price for frozen fish meat stood at $2,623 per tonne in 2020, shrinking by -4.8% against the previous year. Prices varied noticeably by the country of destination; the country with the highest price was Canada ($3,563 per tonne), while the average price for exports to the Netherlands ($2,330 per tonne) was amongst the lowest. In 2020, the most notable growth rate in terms of prices was recorded for supplies to France, while the prices for the other significant destinations experienced mixed trend patterns.

Source: IndexBox Platform

freight
Archives, Global Logistics, Global Trade Daily, Ocean Ports

MOVING FORWARD: GLOBAL TRADE’S TOP FREIGHT FORWARDERS OF 2021

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Established in 1980 to meet the needs of a newly deregulated domestic transportation market, Armstrong & Associates provides unparalleled third-party logistics market research. With offices smack dab in Middle America (Milwaukee and Madison, Wisconsin, to be precise) and a newsletter that is emailed to more than 88,000 subscribers globally, A&A, as the hep cats call it, churns out market estimates found in media accounts, trade publications (like you-know-who) and securities filings by publicly traded 3PLs,

One thing consumers of A&A’s research gobble up every year is the Top 25 Global Freight Forwarders List. The 2021 version (see accompanying chart) includes rankings based on 2020 gross revenue and freight forwarding volume.

Once again, DHL, Kuehne + Nagel, DB Schenker, DSV Panalpina, Sinotrans, Expeditors and Nippon Express take the power positions, but there are also new entrants: Apex Logistics International and CTS International Logistics.

Wherever your company falls (or does not fall) on the list, it is important to consider that we are (fingers crossed) coming out of unprecedented times in the ocean freight shipping game. A shipping container shortage led to a massive spike in freight rates. Of course, during the height of the pandemic, production and trade halted, leaving ocean carriers in limbo—and many are still trying to regain their sea legs. 

Yes, the busiest trade routes are humming again. The Long Beach/Los Angeles port complex experienced a 23% spike in volume in December 2020 compared to the previous year and, despite the pandemic, the second busiest December in their history. On the opposite coast, the ports of Charleston, South Carolina, and Savannah, Georgia, also dealt with massive influxes in traffic.

Ports that did not share in that success can at least take solace in knowing congestion has created fresh headaches for the industry leaders. Maersk and MSC have pulled certain carriers from their regular rotations in the short term. Timing shipments, so products can navigate through offshore parking lots and reach store shelves in time for the holidays, has become the sweet science. 

Meanwhile, many shippers say they’re operating at losses to meet their global customers’ demands. Keep in mind this is at a time when investing much more into that magic bullet known as digitization is all the rage. The aforementioned Maersk is using technology to streamline freight booking, particularly spot booking. CMA CGM, Yang Ming Marine and Hapag-Lloyd also introduced freight booking tools. And artificial intelligence (AI) is growing as a major force in global shipping.

Here comes another headache: The reliance on tech increases the risks of cyberattacks. Since 2017, nearly half of the top 10 freight carriers worldwide were victims of digital security breaches, including a $300 million loss from Maersk due to a ransomware cyberattack.

While noble, sustainability efforts create another money-sucker for ports and logistics companies. The freight shipping industry represents approximately 2.2% of all global greenhouse gas emissions, which expected to rise by 50% by 2050 if action isn’t taken. Carriers are doing their part by switching to more environmentally friendly fuels, such as liquified natural gas (LNG). Around 13% of new vessels ordered this year are LNG fueled, because a clean planet = priceless.

ARMSTRONG & ASSOCIATES
2021 TOP 25 GLOBAL FREIGHT FORWARDERS LIST

2021 Rank*

Service Provider

Gross Revenue 
(US$ Millions)**

Ocean 
(TEUs)

2020 Rank
1 DHL Supply Chain & Global Forwarding 28,453 2,862,000 1
1 Kuehne + Nagel 25,787 4,529,000 1
2 DB Schenker 20,761 2,052,000 2
2 DSV Panalpina 18,269 2,204,902 3
3 Sinotrans 12,174 3,750,000 4
4 Expeditors 10,116 1,091,380 5
5 Nippon Express 19,347 660,152 6
6 CEVA Logistics*** 7,416 1,081,100*** 7
7 C.H. Robinson 15,490 1,200,000 9
8 Kerry Logistics 6,867 1,019,924 10
8 UPS Supply Chain Solutions 11,048 620,000 8
9 GEODIS 9,135 866,631 12
10 Bolloré Logistics 5,265 761,000 11
11 Hellman Worldwide Logistics 2,972 905,100 12
12 Kintetsu World Express 5,750 640,063 13
13 Agility 4,018 771,000 14
14 Yusen Logistics 4,248 764,000 14
15 CTS International Logistics 2,160 1,021,007 Not listed
16 Hitachi Transport System 6,346 662,000 16
17 DACHSER*** 6,591 492,440 15
18 Toll Group 7,260 523,300 18
19 Maersk Logistics (DAMCO) 6,369 401,369 17
20 Apex Logistics International 2,274 190,000 Not Listed
21 Logwin 1,292 698,000 19
22 Mainfreight 2,467 347,638 21

 

* Ranking also factors in a forwarder’s air cargo shipments by metric tons.

** Revenues and volumes are company reported or Armstrong & Associates, Inc. estimates. Revenues have been converted to US$ using the average annual exchange rate in order to make non-currency related growth comparisons. Freight forwarders are ranked using a combined overall average based on their individual rankings for gross revenue, ocean TEUs and air metric tons.

*** Includes LCL shipments.

copper
Archives, Global Trade Daily, News

Belgium’s Copper Imports Jump to $1.5B, with Rising Supplies from Bulgaria and Spain

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IndexBox has just published a new report: ‘Belgium – Copper – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Belgium’s copper imports spiked by +14.9% y-o-y to $1.5B in 2020. In physical terms, imports rose by +3.2% y-o-y, reaching 175K tonnes. Bulgaria supplies nearly half of the total copper volume imported to Belgium. In 2020, Belgium’s purchases from Bulgaria and Spain recorded significant growth. The average copper import price increased by +11% y-o-y to $8,266 per tonne last year. 

Belgium’s Copper Imports by Country

In 2020, approx. 175K tonnes of copper were imported into Belgium, growing by +3.2% compared with the previous year. In value terms, copper imports rose by +14.9% y-o-y to $1.5B (IndexBox estimates) in 2020.

In 2020, Bulgaria (84K tonnes) constituted the largest copper supplier to Belgium, accounting for a 48% share of total imports. Moreover, copper imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Spain (41K tonnes), twofold. Namibia (27K tonnes) ranked third in terms of total imports with a 15% share.

In value terms, Bulgaria ($734M) constituted the largest supplier of copper to Belgium, comprising 51% of total imports. The second position in the ranking was occupied by Namibia ($251M), with a 17% share of total imports, and it was followed by Spain, with a 16% share.

In 2020, the purchases from Bulgaria grew by +48.9% y-o-y in physical terms and by +59.5% y-o-y in value terms. The supplies from Spain rose by +13.8% y-o-y in physical terms and by +26.9% y-o-y in value terms.

In 2020, the average copper import price amounted to $8,266 per tonne, picking up by +11% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany, while the price for Spain was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other significant suppliers experienced more modest paces of growth.

Source: IndexBox Platform

cable fault
Archives, Global Trade Daily, News

4 Notable Trends Driving Global Cable Fault Locator Market Expansion

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With the rising government emphasis on the upgradation of aging power infrastructure and deployment of secure and efficient cabling systems, the demand for cable fault locators is predicted to grow significantly in the forthcoming years. As per the Council on Foreign Relations, the U.S. government under its USD 2 trillion infrastructure plan, is focusing on the modernization of the region’s electrical grid as well as physical infrastructures, such as airports, railways, and others.

Cable fault locators effectively aid in preventing electrical and fire hazards in workplaces and hence, allowing enterprises to achieve industrial safety standards set by the government. Industries and enterprises spend extensively on acquiring advanced systems to pre-locate any hazardous situations and maintain the safety of workers and equipment.

Global cable fault locator market size is slated to exceed USD 1 billion by 2027, cites a recent report by Global Market Insights, Inc.

Described below are some trending factors propelling the adoption of cable fault locators.

Strong demand for cable route tracer

A cable route tracer is extremely beneficial in locating the actual route and depth of buried cables. This leads to extensive utilization of the device across several construction projects for precise mapping and recording of the underground utility network.

With surging underground construction activities, along with the growing need to trace, locate, and measure buried power cable networks, the adoption of cable route tracer is expected to spur significantly in the upcoming years. Driven by this, the industry share from cable route tracer is predicted to expand at 10% CAGR through 2027.

Preference for handheld electric cable fault locator

The handheld cable fault locator is powered by advanced signal transmission technologies that enable it to locate water ingress, short circuits, splices, and other hindrances. This device is highly preferred over its portable counterpart owing to its compactness and ability to set a tone for wire tracing and identification. Largely, the advantage of handheld cable fault locator to be carried for long distances to easily identify faults in metallic cable networks drives its demand in sectors like telecom, power & energy, and mining, among others.

Rising penetration across the petroleum sector

The petroleum industry extensively deploys electric equipment and power systems for its various processes, such as distillation, conversion, cracking, and treating. These systems are predominantly backed by the underground cable infrastructure, which requires advanced technology to locate any fault and maintain the non-stop refining operations. This makes the underground cable fault locator widely adopted in the petroleum industry. Owing to this, cable fault locator industry share from the petroleum sector is estimated to grow at 5% CAGR up to 2027.

The flourishing telecom sector in Europe

Europe cable fault locator industry revenue share is slated to value at USD 300 million by 2027. This is owing to increasing government expenditure and public-private partnerships to upgrade the telecom sector in the region. Moreover, there are growing initiatives by regional electronics companies to develop novel products.

Citing an instance, in August 2020, Mitsubishi Electric introduced its LV100-type T-series IGBT module for industrial applications. Its integration with electric power systems reduces electricity consumption and the size of renewable energy power grids. This apart, growing emphasis toward the development of physical infrastructure in the region would support the cable fault locator business in Europe.

With the rapid adoption of industry 4.0, digital transformation, and the emergence of many novel technologies, such as 5G networks, IoT, and others, the growing deployment of electric wire and systems, is likely to boost global cable fault locator industry forecast.

Source: Global Market Insights, Inc.

logistics transport pro
3pls, Archives, Global Logistics, Global Trade Daily

Top 7 Logistics Challenges Facing the Industry

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Few industries have as much impact as logistics. In a way, it keeps the world economy going. Manufacturers, retailers, farmers, and even service providers all depend on it. But even though it plays a significant part, there are still plenty of logistics challenges facing the industry. Today, we’re talking about the seven of the biggest ones.

Now, there are numerous reasons why things got so tough in the last couple of years. Consumers’ expectations are shifting, and technology advances and new regulations are constantly coming out. On top of that, the COVID-19 pandemic didn’t make it easier.

Of course, all these issues bring an opportunity for growth and improvement. If you can find a way to overcome the challenges, you can be sure that you’ll capitalize on that. Here’s what you should pay attention to in the following year.

1. Cutting Transportation Costs

We can safely say that this is the single biggest problem in the industry at the moment. In some cases, the transportation costs come to reach 50% of the value of the product. Still, the demand for shipping companies is rising almost as fast as the fuel price. There’s plenty of work, but it seems that there’s not enough money to go around for everyone.

Many retailers and distributors are choosing to let just one or two shipping companies take care of their complete transport. Their reasoning is simple — if you’re shipping more with one carrier, you can get better rates. And while all that is true, you have to trust one company with your entire stock. Imagine what you’d have to go through if there’s a week’s delay.

2. Meeting Consumer Expectations for Visibility

Due to companies like Amazon and Walmart, customers nowadays want to know where their shipment is at any given moment, as well as when they can expect it to arrive. And things aren’t much different if we’re talking about transport visibility in B2B. As a matter of fact, the problem is even more complex.

To meet all of their demands, you need to improve the visibility across your entire supply chain. You should be able to track each of your shipments and maintain constant communication with the drivers. However, you also need a real-time alerts and notifications system. It allows fleet managers and drivers to make prompt decisions if any issues occur.

3. The Shortage of the Drivers

The next of the logistics challenges facing the industry that we want to talk about is driver shortages. These are demanding jobs, and it seems that at the moment, there just aren’t enough drivers to fulfill the needs of the industry. There are also these government regulations that force companies into being more strict about hiring their drivers.

Hence, the recruiting process is long and expensive, and it’ll stay like that for a while. There’s not much you can do but follow the rules. On the other hand, you can optimize the routes your drivers are following and stretch the capacity that way. It’ll give you at least some leverage.

4. Getting Sustainable

Carbon emission reduction is more important today than it ever was. The public wants to see environmentally-friendly practices in the private sector, so governments have to push it.

Although this isn’t bad on its own, it’s putting a lot of stress on logistics companies. And if you’re at the front of one, you must act quickly, but luckily there are plenty of things you can do to make your logistics more sustainable:

-Adopt route and load optimization

-Upgrade your engines

-Track and report emissions

-Use alternative fuels

Going down any of these paths won’t be cheap, but it’ll pay off in multiple ways.

5. Improving Cooperation With Your Partners and Suppliers

If you want your transport and logistics company to be successful, you must talk to your partners and suppliers and get to agreements that benefit all of you. They must be satisfied with your service, and you must be happy with theirs. It sounds like common sense, but at the end of 2021, we feel like we need to stress it.

You should all understand the state of the market and the moment and get on the same page. If you support and help each other now, many new improvement opportunities will open up in the future.

6. Adopting New Technologies

As we already mentioned, logistics companies already need to start adopting new and innovative technology solutions. They help you increase productivity and reduce costs in the long run. And we’re already at the stage when things like warehouse management systems are becoming non-negotiable.

However, with so many options available, it’s hard to pick the right one. Don’t rush it, and consider all your unique business operations before you make a decision.

7. Grappling With the New Way of Doing Business

It’s clear to all of us that the COVID-19 pandemic brought plenty of challenges to the game. However, some of them are here to stay, and some we didn’t even see yet. Changes are happening all across the industry, and it’s difficult to predict what will be the next big thing.

So, we’ll say that the final of the logistic challenges facing the industry is that you can’t be sure what to expect. And with that in mind, making your processes as flexible as they can be is the best way to go.

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Harper Mullins is a logistics specialist and a passionate freelance writer. At the moment, he’s working with Fit 2 Move on improving their storage and transport capabilities. He uses his free time to read every book he can get his hands on. 

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Vector Takes “Logistics with Purpose” to the Next Level

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Global commercial shipping provider, Vector Logistics, announced its first-ever effort towards environmental wellness for client utilization this week. Carbon offsets is the main focus of Vector’s environmental service, established through the company’s partnership with the nonprofit Carbonfund.org Foundation. Not only does this enable clients to increase contributions towards a sustainable supply chain, but it also supports positive long-term effects on the industry as a whole.

“At Vector, we believe that a few caring people can and will change the world. And the truth is, we only have one world to share,” says CEO, Enrique Alvarez. “We are compelled to make clean, sustainable shipping a reality. ”

Living up to its primary value of “logistics with a purpose,” Vector selected Carbonfund.org due to its leading position in efforts against climate change and support of a cleaner business climate. Information released today confirmed that the nonprofit’s projects are always validated through a third party and vetted against the highest standards.

The carbon offsets effort is one of several options Vector will add to its environmental solutions portfolio. The company confirmed that additional options are in the works for 2022 to further support client goals in reducing their overall environmental footprint.

“Doing the right thing is a must, and there’s no time to waste. Together, we can make a difference both now and for generations to come,” Alvarez added.

To learn more and stay up-to-date on the latest solutions offerings, please visit: vectorgl.com