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Shipping Volume

All articles tagged with #shipping volume

business6 months ago

Port of LA Achieves Record June Amid Tariff Rush

The Port of Los Angeles experienced its best June on record with an 8% increase in cargo, driven by importers rushing to beat tariff deadlines, especially before the August 1 extension. Despite tariff-induced slowdowns earlier in the year, a second surge is expected in July, with volume likely to dip in August as retailers adjust their inventories for the holiday season. Overall, U.S. imports are tracking slightly ahead of last year, but tariffs are expected to increase prices for consumers.

via CNN|
#business#import-surge#port-of-los-angeles
business1 year ago

UPS to Cut 12,000 Jobs Due to Decline in Package Volume

UPS reported a drop in shipping volume and revenue in its fourth-quarter earnings, leading to a 7% dip in shares and the announcement of 12,000 job cuts. The company's net income for the last three months of 2023 was $1.61 billion, down from $3.45 billion a year earlier, and revenue declined 7.8% to $24.9 billion. CEO Carol Tomé attributed the declines to volume, revenue, and operating profit decreases across all business segments, and mentioned the impact of labor contract negotiations and the macroeconomic environment. UPS is also considering selling its Coyote truck brokerage business and plans to ask workers to return to the office five days a week in 2024.

via CNBC|
#business#earnings-report#layoffs