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For all you travelers out there.... Mileage rate increases to 67 cents per mile. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 cents from 2023. (source: IRS.gov)

Do you review your Transport Rate Card regularly? #SupplyChainVideo #SupplyChainAdvice #SupplyChainManagement

2023 Q2 rates data suggests short term road freight demand is down with high consumer prices and lagging wages pushing down demand for the distribution of goods throughout Europe, resulting in further falls in freight rates on the spot market. The contract market has seen much smaller rate falls due to the elevated costs base and shipper sentiment suggesting that it is now a good time to lock in lower rates under contracts. This has allowed the Spot Index to drop below the Contract Index for the first time in 6 years. Source: The European Road Freight Rate Benchmark – Q2 2023 Discover CEVA’s road transportation capabilities: https://lnkd.in/dUYnUJuw #cevalogistics

[January State of the Industry: U.S. Trailers Update]: 2023-Ending Data Suggest Moderating Trailer Activity in 2024 With freight markets continuing their bounce along the bottom, carrier profits at a low ebb, and pent-up demand exhausted, the 2024 game plan is more about hoping and coping than full steam ahead for the trailer market. December net orders, at 24,300 units, were nearly 58% lower y/y, but 3,300 units more than were booked in November. Read the entire blog now - https://hubs.la/Q02hcQ7Z0 #Trailers, #Transportation, #truck, #trucking, #ACT, #ACTResearch

Norse traffic data for October shows 23% decline in passenger carried versus previous month (SEP), winter is comming! The profitable summer peak months are fading away, as Norse flies into the tough winter season. October traffic data is a signal on where Norse is heading the next 4-5 months, reduction in production (ASK), lower demand, less passengers and headwind on revenues. This situation, which is normal for airlines operating across the North-Atlantic in winter season, is a major headache for lowcost longhaul operators like Norse and Play, what to do with the nov-mar low season! Norse is currently operating with 10 B787s and during W23/24 part of the capacity will be tested on routes to sun&beach destinations in the Caribbean and Thailand, together with wet lease for charter and ad-hoc operations, lets see how this turns out. Norse can also utilize PBH agreements in their leasing contracts, meaning park parts of its fleet for short/longer periods to reduce costs. Currently Norse is not in a fuel hedge position, but ca 60% of the revenues are generated by PoS USA, resulting in USD dominated income and this is positive when fuel is billed in USD. Last week Norse raised $55m in new capital through a contemplated private placement, the main purpose is to secure a solid liquidity position during the comming shoulders and winter season. Norse traffic KPIs for OCT vs previous month (SEP). Passengers 102/132k - ASK 0,9/1,1m - RPK 0,6/1,0m - LF 75/78% - Regularity 100/99,6% - Punctuality 83/80%. Outlook (my views) Slow down in passenger numbers to continue in November. Though, demand during the comming winter season between Europe and North-America is estimated to exceed LY, something that could be an upside for Norse, on passenger volumes, yields and revenues.

[Market Update: Dry Van] After being primarily flat in May and June, dry van linehaul spot rates have dropped $0.12/mile since the July 4 break following last week’s $0.03/mile decrease. At $1.59/mile, the dry van linehaul national average rates are just $0.04/mile higher than in 2019. Compared to DAT’s Top 50 lanes (which averaged $1.91/mile last week), the national average was $0.32/mile lower. Read more: https://bit.ly/3QDGIl2

[September U.S. Trailer Preliminary Update] - Preliminary net trailer orders remain seasonally soft. August’s preliminary net trailer orders increased sequentially, to 11,500 units, but were lower against longer-term comparisons. As one of the weakest order months of the year, seasonal adjustment (SA) boosts August’s SA tally to 14,700 units. Final August results will be available later this month. This preliminary market estimate should be within /-5% of the final order tally. Get the update - https://hubs.la/Q022J9Bg0 #Trailers, #Transportation, #truck, #trucking, #ACT, #ACTResearch