Transportation TIP List: Week of March 20th, 2016
Spring has officially sprung, and for many families this Sunday brings a visit from the Easter Bunny and baskets filled with delicious chocolate. And while you may be hunting for colorful Easter eggs this weekend, we’ve been hunting for the latest and greatest industry trends for this week’s TIP List. Let’s hop to it!
- U.S. Accepts Mexico’s Truck Inspection Standards: Last May, Mexico began requiring annual inspections at SCT-approved inspection centers. And the FMCSA recently announced that it now accepts Mexico’s criteria for annual inspections of trucks domiciled there after concluding that these standards were comparable to the U.S.
- Four Trends to Shape Industrial Packaging Market Through 2020: The global market for industrial packaging, estimated at $48.6 billion in 2013, is forecast to reach $61 billion by 2020. This sector is dependent on four key user industries: chemicals and pharmaceuticals, lubricants, bulk food and beverages, and building and construction.
- Global Supply Chain News: Container Lines Reap Benefits of Megaships, While Everyone Else See Supply Chain Costs Rise: Are giant megaships increasing supply chain costs for everyone but the ocean carriers themselves? The growing size and number of container megaships is causing high costs and delays throughout the supply chain – costs paid for by ports, shippers, terminals and others parties, not the container lines.
- Housing Starts Climb More Than Forecast in February: New-home construction in the U.S. rose more than economists had forecast in February, led by the strongest single-family building in more than eight years. And this trend signals continued confidence in demand for residential real estate.
- Minimum-Wage Increases Set to Raise E-Commerce Logistics Costs: Rising minimum wages in cities and states around the country could raise the costs of e-commerce operations. A recent report estimated a $1 increase in average hourly wages could add more than $1 million in annual costs to a warehouse operation employing 500 people.
- Nationwide, Diesel Fuel Prices Up an Average 7.8 Cents Per Gallon: Pump prices have risen in all regions of the country, averaging $2.099 per gallon or 7.8 cents per gallon more. But last week’s prices were still down nearly 82 cents over the same time period a year ago.
- U.S. Food Industry Forecast to Reach $31.7B by 2022: The U.S. food industry is forecast to grow at a steady rate of 2.9 percent CAGR through 2022. And a recent study also forecasts that meat and related products and snack foods will outperform the market with over 3 percent growth.
What supply chain trends jumped out at you this week?