On Feb 17, Google and J.B. Hunt Transport Services, Inc have agreed to work together in the coming years. Utilizing Google Cloud’s Innovative cloud technologies and its advanced Artificial Technologies, J.B. Hunt’s 360 supply chain platform expansion connects shipments with available capacities digitally, creating more efficiency and enhancing visibility within the platform .
In the $1 trillion logistics industry, real-time data is a key, as consumers have raised demand for faster services and more transparency on their shipments. J.B. Hunt’s 360 platform aims to centralize data from across the supply chain, capacity utilization, pricing and transportation execution. Google’s Data Cloud will better predict outcomes, empower users, and make informed decisions. Using advanced Artificial Intelligence and Machine Learning will develop new services to digitally transform the shipping and logistics experience for shippers, carriers, and service providers.
Powering J.B. Hunt 360 on Google Cloud will help the mission to create the most efficient transportation network in North America.
Is this where the future is headed for transportation companies? Will other large transportation companies start working together with other big tech companies to innovate and change how transportation is done? If that is the case, we are expecting a big change in how traditional transportation is done in the coming years.
For The past few weeks, The central U.S. has been facing winter storms and cold weather, impacting shipping across the country. The winter storms that devastated Texas and many other areas not accustomed to the regular occurrence of snow and ice had a much bigger impact. The volumes dropped over 6% while capacity tightened. Declining compliance with the carrier is generally caused by rising shipping costs.
Normally, declining demand has the reverse impact on capacity in which pressure loosens with lower volumes, but it is uncommon for the capacities to tighten and volumes decline simultaneously. The reason is simple: Supply (capacity) falls faster than demand.
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Source: Freightwaves
United Airlines said the temporary removal of two dozen Boeing 777-200 passenger jets as a safety measure following a weekend engine failure might reduce the capacity of business cargo as soon as March.
The decrease in cargo space will briefly impact the roaring growth in cargo sales that United has enjoyed nearly a year after actively moving to cargo-only aircraft flights that were idle due to the extreme travel downturn. The shortage of available flights will hurt shipping company because the cargo supply has been below 20%.
The Federal Aviation Administration ordered immediate inspections of Pratt & Whitney 4000-series engine aircraft. With the engine type, there are 128 aircraft worldwide, 69 of which are in current service. The effect on freight operations depends on the amount of time it takes to inspect the engines and decide if further action is required.
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Source: Freightwaves
Kuehne + Nagel, the world second largest third party logistics provider had agreed to acquire Hongkong APEX International Corp. It said was the biggest one in the history of the business.
K + N CEO stated that the combination of these two big companies gives them better opportunity to offer their customer a compelling proposition in the competitive Asian Logistics industry, APEX and K + N will continue to operate as a separate company.
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Source: Freightwaves
President Biden’s push for clean energy has resulted in many big companies to start making adjustments to their carbon footprint.
Maersk has announced today that they will be launching the world’s first carbon-neutral cargo ship in 2023.
The new vessels will be running on methanol that is produced from renewable sources or sustainable biomass.
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Source: CNN