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April 1, 2024 at 3:19 pm

PGL Video Newsletter – March 2024

Welcome to the latest edition of the PGL monthly newsletter!

This month we celebrated women in supply chain in honor of International Women’s Day and Women’s History Month. We also celebrated St. Patrick’s Day and Easter.

PGL attended the PBExpo in Miami Beach, the annual CLN partnership meeting in Vietnam, and sponsored the GA Telesis Orange Bowl Golf Tournament in Florida.

As the official logistics partner of the Texas Rangers, we came together to celebrate opening day with some outdoor fun.

Need warehouse space? PGL has you covered. Learn more about our warehousing services.

Plus, some helpful tips when dealing with customs.

Last but not least, a recap of the key insights and events that shaped the supply chain industry in March.

Enjoy this recap of the month and in the meantime, PGL will continue to deliver peace of mind 24/7/365.

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Industry Insights, News, News & Thought Leadership, Publications

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March 27, 2024 at 9:21 pm

Supply Chain Industry Insights – March 2024

Industry Insights

March 2024

By PGL

In breaking news: early Tuesday morning on March 26, the container ship Dali lost power, crashing into the Francis Scott Key Bridge that spans the mouth of the Patapsco River in Baltimore. The resulting collapse has shut down this portion of I-695 as well as the Port of Baltimore. As of the recording of this report, the ships crew is uninjured, and search and rescue efforts are underway for several people that are believed to have fallen into the river, including a construction crew that was working on the road at the time of the collision. Given the 45 degree fahrenheit water temperature, authorities are not optimistic about about their fate.

We can expect this tragic event to have far-reaching effects on logistics on the east coast. PGL will continue to monitor this developing situation.

Welcome to the PGL Industry Insights report for March 2024

In labor news, contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) are strained, with a potential coastwide strike looming as the ILA warns its members to prepare for October 2024. Concerns over disruptions in East and Gulf Coast ports parallel past issues on the West Coast.

Trucking transportation prices showed growth for the second consecutive month in February, but the rate of capacity expansion outpaced pricing growth, indicating that a significant recovery in the freight cycle has not yet begun. While transportation capacity increased, utilization also rose, suggesting that the industry has not yet entered a true growth period.

Freight shipments and expenditures saw improvement from January to February. Despite remaining lower year over year, the smallest decline in 10 months suggests a potential recovery is beginning, supported by an uptick in actual freight rates and strong new equipment orders.

The benchmark diesel price experienced a slight increase despite significant gains in futures prices for ultra low sulfur diesel, highlighting a delay in reflecting wholesale price changes at the retail level. 

Ocean shipping news is indicating that February’s U.S. container import volumes dipped by 6% from January, a better-than-expected performance for the typically slow season, but other indicators hint at potential softness in domestic freight for March and April. 

Over recent months, Houthi rebel attacks on cargo vessels have been threatening both regional stability and global commerce. Although the assaults have introduced complexity and risk to maritime trade, the impact on commerce may be diminishing as supply chains adapt and reroute vessels, mitigating some of the disruptions caused by the attacks, leading to long-term effects in many parts of the logistics industries.

The air cargo market has experienced a robust start to the year, propelled by strong e-commerce activity in Asia and disruptions in ocean freight due to the Red Sea conflict. While the growth appears significant, questions remain about its sustainability and whether it’s driven by favorable year-over-year comparisons. 

We’ll be back next month with another Industry Insights Report. As always, PGL will be here to keep you informed and will keep delivering peace of mind, 24/7/365.

Follow us on social media at @ShipPGL

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News

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February 29, 2024 at 8:37 pm

PGL Video Newsletter – February 2024

Welcome to the latest edition of the PGL monthly newsletter!

We had a blast celebrating our employees and their achievements at the PGL Awards Ceremony.

We attended the Women’s Business Council Parade of Stars Award Gala and, as the official logistics partner of the Texas rangers, helped the team kick off Spring Training.

We also celebrated Chinese New Year, Valentine’s Day, and Presidents Day.

Plus, a recap of the key insights and events that shaped the supply chain industry this month.

Enjoy this recap of the month and in the meantime, PGL will continue to deliver peace of mind 24/7/365.

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Industry Insights, News, News & Thought Leadership, Publications

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February 27, 2024 at 6:39 pm

Supply Chain Industry Insights – February 2024

Industry Insights

February 2024

By PGL

Welcome to the PGL Industry Insights report for February 2024

Inventory correction and spot rates for both ocean carriers and trucking are leading to something resembling stability despite troubled canals and international conflict, but of course, the details offer a more nuanced view of things. Let’s dive into those details.

In our ongoing coverage of challenges for both the Panama and Suez Canals, we saw surprisingly increased traffic through the Panama Canal due to a wetter-than-expected November, with 24 daily transits in January, beating the projected 20. The embattled canal is not out of the woods yet, however, with water levels expected to reach all-time lows by April.

Following a dip in Houthi activity in early February, hostilities continue, leading many carriers to take the longer route around Africa. This has lead to climbing spot rates for ocean transport, but we’re seeing some correction here in the latter half of the month.

Despite the canal troubles and a gloomy outlook for the start of the year, containerized imports to the US grew at a pace not seen in 7 years. Though the first several weeks of the year don’t traditionally see this kind of growth, even when adjusting for the ramp-up to the Lunar New Year, imports outpaced expectations. Factors credited for leading to this surge are leaner inventories and greater-than-expected resiliency of the American consumer.

Since the fall, we’ve been reporting that the diesel benchmark price posted by the US Department of Energy had been defying projections, and to a degree, even the futures market with unseasonable lows. Volatility in that futures and wholesale markets has finally affected the retail pump prices with a surge of over 20¢ per gallon, landing at over $4 per gallon for the first time since early December.

Increased US imports and stabilization of spot rates paint an optimistic picture, but as this report illustrates, the world finds a way to defy expectations. Through it all, PGL will be here to keep you informed and will keep delivering peace of mind, 24/7/365.

Follow us on social media at @ShipPGL

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News

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January 30, 2024 at 8:17 pm

PGL Video Newsletter – January 2024

Welcome to the latest edition of the PGL monthly newsletter!

PGL had a great month of January. Here’s a glimpse at some of the moving parts.

We documented this project for SIMCOM, for which we moved a total of 6 flight simulators.

Plus a look at our Intermodal services that can help you find savings as well as a helpful tip.

We reflected on 2023’s supply chain industry insights, and on how much progress we made.

Enjoy this recap of the month and in the meantime, PGL will continue to deliver peace of mind 24/7/365.

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Industry Insights, News, News & Thought Leadership, Publications

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January 23, 2024 at 5:25 pm

Supply Chain Industry Insights Special Report: A Look at 2023

 

Industry Insights Special Report: A Look at 2023

January 2024

By PGL

Welcome to the PGL look at 2023 and our forecast for the coming year.

We continue to live in interesting times, and last year was certainly no exception. The last gasp of the large scale ramifications of the pandemic came to a close with China easing its Covid Restrictions in January. Though the virus is still a threat, the global community was able to bring it to manageable levels and we continue to deal with the long tail effects relative to the logistics industry. We saw large inventories transition to something closer to the pre-pandemic normal just-in-time model this summer, allowing for more efficiency and lower warehousing costs heading into a better-than-expected holiday season.

Ocean Freight:

In Ocean Freight, 2023 has seen some major events, not the least of which being that the two most important canals are experiencing serious peril in the form of a years-long drought that is having a major impact on travel through the Panama Canal leading to reservation restrictions and delays, and unrest in the Middle East that has resulted in Houthi militant attacks on multiple vessels that were perceived to have connections to Isreal, causing many to avoid the Suez Canal. The situation with both Canals has led to rerouting plans for major shipping lines and the situation continues to develop into 2024. This has had an interesting ripple effect on shipping rates, as earlier in 2023, contract rates were plummeting as shippers jumped on low spot rates heading into contract nogotiotion season. Those rates are actively rebounding. This could lead to fewer blank sailings than we saw in 2023. Stay tuned to our Industry Insights reports for more as the situation develops.

Trucking:

In trucking, 2023 saw the closure of one of the US’s oldest and largest carriers, the Yellow Corporation. The knock-on effect lead to a boost for many carriers who have been able to take on business that used to go to the former trucking giant. The industry isn’t out of the woods yet, however, as trucking capacity remains high after fleets were expanded in 2021, and we can expect to see more carriers close up shop in the near future until trucking capacity is closer to demand.

Air Freight:

Air freight saw a tumultuous year as lower demand led to reduced rates through August due to high inventories, but had a bit of a rebound in the last quarter as the peak season proved to be better than projected. Additionally, the difficult situations surrounding the canals are driving more air freight for time-sensitive shipments that may have otherwise been bound for ocean freight in normal conditions. These factors have led to a surge in pricing that had rates ahead of the 2019 pre-pandemic benchmark. 2024 is showing indicators of improvement for air freight moving forward, but it’s important to note that the geopolitical landscape can and will influence that for the better or worse.

Intermodal:

Intermodal freight has proven to be a bright spot, as the congestion that led to much of the business leaving rail freight at the height of the pandemic has been dealt with, and lower rates compared to trucking are revealing opportunities for a resurgence for intermodal performance with shippers looking to save on long-haul trucking costs.

Energy:

In the energy sector, diesel benchmark pricing defied expectations in 2023 with unseasonably low rates in the last quarter of the year, even in the wake of conflict in the Middle East and production caps by OPEC. Crude oil per-barrel prices averaged almost $20 less than in the prior year. With interest rates high, the industry is reluctant to hang onto large inventories. At the moment, demand remains high and producers are meeting that demand. Many indicators are still pointing to rising diesel prices, but a short spike in the first week of 2024 has already been reversed, and traders are not viewing trouble in the Middle East as an imminent threat to the market.

Labor:

Labor disputes defined much of 2023 in the logistics industry. Though the over 400 work stoppages in the year is roughly equivalent to the number set in 2022, they involved significantly more workers and had far-reaching effects in 2023, such as UPS, Dock Worker Unions, the United Auto Workers and more. Major factors for the significant labor issues faced last year include the fact that many contracts were set to expire and inflationary pressures. Labor disputes always have a large impact on logistics, and we can expect that to continue for the foreseeable future.

We hope you have enjoyed this look at 2023 as well as some predictions for what the coming year may bring us. PGL will continue to keep you informed and will keep delivering peace of mind, 24/7/365.

Follow us on social media at @ShipPGL

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News

Posted

January 3, 2024 at 9:51 pm

SPECIAL REPORT: Delays in Ocean Shipping & Routing Guide

Summary of Current Routing Options from South China to US East Coast With Average Transit Time from China to First US Port of Discharge
If you’ve been following along with our Industry Insights Reports, you’ll know that things have been heating up in the two largest canals and are having a big impact on shipping times to and from the Far East for the US East Coast. Drought in the Panama Canal and hostilities in the Middle East are causing changes in routing that are leading to significant delays. In this report, you’ll find the latest data to help you plan around these obstacles.

DOWNLOAD OUR FULL REPORT HERE

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News

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January 2, 2024 at 3:35 pm

PGL Video Newsletter – December 2023

Welcome to the latest edition of the PGL monthly newsletter! PGL had a great month of December. Here’s a glimpse at the some of the moving parts.

PGL’s president, Raj Sobhani, received the Ashok Mago Legacy Award for Distinguished Community Service because of his successful efforts to supply life-saving oxygen to India at the height of the pandemic.

Two PGL employees, Brenden Wood & Allysen Breeden, successfully passed the Customs Brokerage Exam.

PGL sponsored the Lockheed Martin Armed Forces Bowl.

We celebrated the U.S. National Guard birthday, Christmas, and rang in the New Year with a bang.

Plus a look at our trucking department and some helpful tips.

Last but not least, a recap of the key insights and events that helped shape the supply chain industry this month.

Enjoy this recap of the month and in the meantime, PGL will continue to deliver peace of mind 24/7/365.

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Events, News, Press Releases

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December 21, 2023 at 6:29 am

Spreading Holiday Cheer: PGL DFW’s Toy Drive Success

‘Tis the season of giving, and the PGL DFW team truly embraced the holiday spirit with a fantastic toy drive organized by the wonderful Yvonne Tucker. This heartwarming initiative aimed to bring joy to kids during the festive season, with all of the donated toys going to Toys for Tots.

The generosity shown by PGL DFW employees was nothing short of amazing. The variety of toys collected will undoubtedly bring smiles to the faces of children in need, making this holiday season a little brighter for them.

As we celebrate the holidays, let’s take a moment to applaud the PGL DFW team for their community spirit. Through their collective efforts, they’ve not only showcased the true essence of giving but have also contributed to creating lasting holiday memories for kids who will benefit from their kindness.

Special thank you to Lisa Montgomery from Toys for Tots for coordinating with Yvonne on this initiative, and a big shout out to everyone who participated and made this toy drive a success! As we wrap up the year, let’s carry this spirit of giving into the new year, inspiring positivity and embodying the values of compassion and community.

Happy Holidays from PGL!

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Industry Insights, News, News & Thought Leadership, Publications

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December 19, 2023 at 5:08 pm

Industry Insights – December 2023

Supply Chain Industry Insights

December 2023

There is good news for the holiday season with stable inventories and strong consumer spending that has outpaced predictions, resulting in over 200 million shoppers participating in the Thanksgiving holiday shopping season, surpassing last year’s record by over 18 million shoppers.

In trucking, volumes remained high at the beginning of December, outpacing the same time last year as well as in the same period in the often-cited pre-pandemic 2019. While capacity remains high, and trucking continues to face challenges, we’ll take whatever good news we can get.

Spot rates for ocean freight have continued to fall. This is bad timing for shipping lines as contract rates are due for renegotiation in the new year, and low spot rates set the tone for unprofitable contract rates. This would likely lead to more blank sailings to reduce capacity in 2024.

The situation in the Panama Canal is getting even worse as wait times more than triple for ships that do not have a reservation. This is a result of the Panama Canal Authority cutting the number of daily reservations slots from 32 at the beginning of November to 22 with another planned drop to 18 by Feb. 1. We can expect further decline in traffic well into 2024 and perhaps beyond, as the years-long drought takes its toll on the embattled canal.

In addition to the Panama Canal, things have been heating up around the Suez Canal with multiple attacks from Houthi rebels as an extension of the unrest in the Middle East that has disrupted normal activity through the canal. This has led shipping giant Maersk to pause all container shipments through the Red Sea. We will continue to monitor the situation.

The benchmark diesel price continues to slide as it has the last few months. Factors leading to this decrease include on-going high volume production from US producers, high inventories and the late start of winter weather.

A strong holiday shopping season, trucking gets a little good news, ocean rates remain perilous, and diesel pricing continues to fall. It has been a tumultuous year, but PGL will be here to keep you informed and will keep delivering peace of mind, 24/7/365.

Follow us on social media at @ShipPGL

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December 13, 2023 at 8:58 am

Cinemark – Case Study

When moving an entire theater worth of seats is too big of a job for an internal logistics team, you partner with the experts to make it happen.

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December 1, 2023 at 7:14 pm

PGL Video Newsletter – November 2023

Welcome to the latest edition of the PGL monthly newsletter! In November, we attended the I/ITSEC in Orlando and celebrated a few holidays including the U.S. Marine Corps birthday, Veterans Day, Diwali, and Thanksgiving.

As the Official Logistics Partner of the Texas Rangers, we had the honor of shipping the World Series Trophy for the World Series Champs.

Plus, a look at our DHL Express services and some helpful tips.

Enjoy this recap of the month and in the meantime, PGL will continue to deliver peace of mind 24/7/365.

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