TMP Solutions

From our partners' offices, some industry news:

"Good morning, Team.

I hope the weekend treated you well.

With Q4 here, we are seeing the door close on securing predictable capacity before the pre-holiday surge.

Let’s schedule aside 10 minutes to discuss this week to conduct a Q4 Risk Assessment on your top lanes.

Please also see a brief market update below.

FTL

· Capacity Squeeze Incoming: The current oversupply is ending. Carrier bankruptcies are rising, and new truck builds are down 25%.

· Expect tight capacity and rate spikes during peak retail/produce seasons. I can assist by securing drop trailer capacity now.

· FTL spot rates are stable at low levels but are vulnerable to sudden spikes from weather and/or seasonal demand.

International

· Ocean Rates & Capacity: Vessel capacity is up 6% YoY due to new ship deliveries. This massive oversupply has caused Transpacific rates to drop 50-60% since Q2.

· Tariffs & Risk: Extreme uncertainty due to the potential end of the U.S.-China tariffs and the new 25% tariffs on Indian imports.

Thank you."

FedEx Express National Service Disruption

Thursday, August 10, 2023

"Severe weather substantially disrupted FedEx Express operations at the Memphis hub last night. The weather created potentially hazardous operating conditions, and the safety of our team members remains our number one priority.

Potential delays are possible for package deliveries across the U.S. with a delivery commitment of Thursday, August 10, 2023. Contingency plans are in place, and we are prepared to provide the best possible service as conditions allow.

Potential service disruptions may not affect FedEx Express, FedEx Ground, FedEx Freight, FedEx Office, etc. the same. There may be different levels of impact depending on city, state and ZIP Code serviced. Please continue to check the Service Alerts page for the latest news.

Residential recipients can enroll in FedEx Delivery Manager to stay informed of their shipment’s progress. For specific shipment status information, please track your shipment at fedex.com.

Consistent with the provisions of the FedEx Service Guide, shipments delayed due to inclement weather are not eligible for a refund or credit under the Money-Back Guarantee policy."