The Shanghai Containerized Freight Index increased 11.3 percent from last week to a reading of 884.95, thanks to sharp increases from Shanghai to Northwest Europe and the Mediterranean.
U.S. gross domestic product increased 2.9 percent in the third quarter of 2016, according to the “advance” estimate from the Department of Commerce, following a revised increase of 1.4 percent in the second quarter.
The technology startup Otto and Budweiser have completed the world’s first shipment by a self-driving truck.
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Historically low ocean freight rates have caused carriers to implement cost-cutting measures that have reduced reliability, meaning shippers need to be more flexible in how they procure capacity.
A new Visibility Benchmark Study from American Shipper also found that third-party logistics companies have a major problem delineating their cost to provide visibility to shippers.
When the e-commerce shoe retailer Bucketfeet started getting international orders, it turned to duty calculation APIs from Pitney Bowes to give customers accurate total product cost.