Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Paul Berger"


25 mentions found


Shipping Platform Freightos Goes Public in SPAC Deal
  + stars: | 2023-01-26 | by ( Paul Berger | ) www.wsj.com   time to read: +4 min
Online freight booking platform Freightos Ltd. started trading shares publicly on Thursday through a merger with a special-purpose acquisition company, just as the booming shipping demand that helped fuel the digital startup’s growth shows signs of weakening. The company has seen booming business during the pandemic for its platform as shipping demand skyrocketed while tight capacity and supply-chain disruptions sent freight rates soaring. The Freightos platform operates like an Expedia or Travelocity for freight, allowing companies with goods to ship to compare prices and book space on planes and ships. In a note to new shareholders on Freightos’ website Thursday, Zvi Schreiber, the company’s chief executive and chairman, recommended that investors view Freightos as a long-term investment. Ezra Gardner, Gesher’s chief executive and a Freightos board member, said the SPAC gave Freightos more control than an IPO over whom the company’s main investors would be.
Wayfair Is Laying Off 1,750 Workers
  + stars: | 2023-01-25 | by ( Paul Berger | Sarah Nassauer | ) www.wsj.com   time to read: 1 min
Wayfair aggressively added staff during the pandemic to expand its warehouse operations and customer-service teams. Wayfair Inc. is laying off about 1,750 workers, or 10% of its workforce, as the online furniture seller confronts shrinking sales after a pandemic-driven boom. Wayfair co-founder and CEO Niraj Shah in an email to staff Friday morning said the company had grown too big.
PREVIEWDave Edwards, the chief executive at Greenville-Spartanburg, said just over a decade ago his airport had no international air cargo operations. BMW today accounts for about a quarter of Greenville-Spartanburg’s roughly 15 international cargo flights a week. Air cargo volumes fell through most of last year as manufacturers and retailers pulled back on orders because of slowing consumer spending. Rockford, about 70 miles from Chicago O’Hare International Airport, has become one of the most successful regional airports for cargo. It is a hub for United Parcel Service Inc. and has attracted air operations for companies including Amazon.com Inc., DSV and A.P.
Prologis Inc., the world’s largest developer of logistics properties, is bullish about warehouse demand this year despite signs of an economic slowdown. Executives at San Francisco-based Prologis said Wednesday they remain cautious about building new facilities as the economy wavers. But they said vacancy rates remain near record lows and that much of the leasing activity for this year is already secured or underway. Warehouse demand peaked last year, as average national vacancy rates plummeted to near 3% and reached close to 1% in Southern California. Average occupancy in Prologis’s owned and managed portfolio ticked up to 98% in the fourth quarter from 97.7% in the prior quarter.
Wayfair Inc. is preparing to lay off more than 1,000 workers, according to people familiar with the matter, as the online furniture seller confronts shrinking sales after a pandemic-driven boom. Wayfair’s restructuring, the second round of layoffs in six months, is expected to affect more than 5% of the workforce at the Boston-based company. Wayfair said in August it was cutting about 870 jobs, or about 5% of its global workforce.
Robinson Worldwide Inc. has reached an agreement to work with its activist investors as analysts said new board member Jim Barber would be a strong candidate to lead the company. Robinson’s board. Robinson’s then board chair as interim CEO as the board said it would start an immediate search for a permanent successor. Robinson’s board, said Monday that Mr. Biesterfeld’s firing was a board decision. Robinson has retained executive search firm Russell Reynolds Associates Inc. to find a permanent chief executive.
Flexport Names Former Amazon Executive as President
  + stars: | 2023-01-05 | by ( Paul Berger | ) www.wsj.com   time to read: +2 min
com Inc. executive, is joining Flexport Inc. as the digital-focused freight forwarder boosts its growth ambitions under the leadership of former Amazon consumer chief executive Dave Clark. The San Francisco-based company named Ms. Carlson president and chief commercial officer, overseeing sales, marketing and communications, Flexport said Thursday. Ms. Carlson specializes in cloud computing. Mr. Clark in September took on the role of Flexport co-CEO alongside the company’s founder and CEO Ryan Petersen. Mr. Clark has hired former Amazon employees including public-relations executive Kelly Cheeseman, logistics executive Parisa Sadrzadeh and human-resources executive Darcie Henry.
Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. MS. LOMBARD: The supply chain used to be quite seamless and fluid. The world order has a huge impact on the supply chain and its stability. The difference is that the supply chain itself was not disrupted. The entire supply chain is being rethought and recalibrated and re-costed.
Retailers Pull Back From Using Chartered Cargo Ships
  + stars: | 2022-12-23 | by ( Paul Berger | ) www.wsj.com   time to read: +5 min
Retailers are moving away from using chartered ships to get around pandemic-triggered disruptions now that congestion at ports has cleared and pressures in supply chains have eased. A representative for Home Depot said it stopped using chartered vessels earlier this year as space opened up in global shipping. Party City started booking space on chartered vessels in mid-2021 in advance of Halloween, its busiest time of year, said Bruce Dzinski, Party City’s director of international transportation. Will Harwood, a spokesman for Lidl, said Tailwind owns two container ships and can carry additional cargo on other chartered vessels. Most other companies, like Home Depot and Costco, relied on third-party companies to operate chartered ships.
U.S. Container Imports Are Plummeting to Close the Year
  + stars: | 2022-12-15 | by ( Paul Berger | ) www.wsj.com   time to read: +4 min
Big U.S. ports are reporting steep declines in inbound container volumes for November, signaling a downturn in goods imports is accelerating and adding to concerns over a deeper slowdown in 2023. The ports also handled about 98,000 fewer inbound boxes last month than in November 2019 and imports have been below prepandemic levels since September. Port of Los Angeles Executive Director Gene Seroka said the U.S. is seeing a slowing of imports. They also diverted goods to Gulf Coast and East Coast ports due to fears of a work slowdown as West Coast dockworkers negotiate a new multiyear labor agreement. The downturn is reaching East Coast ports, which have seen relatively strong trade as companies shipped around California’s congested gateways.
French container line CMA CGM sees the ownership of cargo terminals at U.S. ports as the next step in its bid to extend its shipping business into greater inland logistics. “Port terminals are an essential piece of the supply-chain efficiency, being at the crossroads of sea and land operations,” said Christine Cabau Woehrel, CMA CGM Group’s executive vice president of operations and assets. CMA CGM earned $17.9 billion in net profits in 2021 and its earnings in the first three quarters of this year reached more than $20.4 billion. The purchases come as CMA CGM is spending billions to buy logistics operations and more recently launch an airfreight service. China’s Cosco Shipping Ports has expanded its terminal operations around the world in concert with expansion by state-owned Cosco Shipping Lines.
Abercrombie & Fitch Co. is moving more merchandise through New York and New Jersey to avoid West Coast bottlenecks. It trailed its East Coast rival again in that measure during September and October, according to the Pacific Merchant Shipping Association and ports data. ”There are so many customers that got so screwed because they were entirely reliant on L.A. and Long Beach.”The logistical challenges of spreading imports along the East Coast and the Gulf Coast are massive. The shift in trade to the East Coast marks a return to where container ships originated. Then the U.S. began importing more goods from Europe, making an Atlantic Ocean crossing to various East Coast ports more critical.
Amazon Launches Supply-Chain Software Service
  + stars: | 2022-11-29 | by ( Paul Berger | ) www.wsj.com   time to read: +2 min
Amazon’s launch of its cloud application, AWS Supply Chain, adds Amazon to a growing list of software suppliers, such as Manhattan Associates and Blue Yonder, that help merchants juggle increasingly complex cargo flows and inventory demands. Microsoft Corp. launched its own supply-chain management software platform earlier this month. Companies are relying more on sophisticated supply-chain software as a growing share of sales shifts away from sending goods in bulk to retailers and moves more toward direct-to-consumer online sales that require better balancing and positioning of stock. Amazon has a ready audience for its software with a phalanx of small- and medium-size businesses in its third-party marketplace. The software identifies risks and provides recommendations to guard against shortages and delays so that companies can “quickly see and respond to potential supply-chain disruptions,” said Diego Pantoja-Navajas, vice president of AWS Supply Chain at Amazon Web Services.
Warehouse Packing Help Wanted, Excellent Penmanship Required
  + stars: | 2022-11-25 | by ( Paul Berger | ) www.wsj.com   time to read: +5 min
At a warehouse in northern New Jersey one recent weekday, a trainee wearing a pair of blue gloves hesitantly tied a ribbon around one luxury brand’s box as a supervisor looked on. Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. Workers also personalize items with engraving and hot-stamping, compile individual items into gift sets and add handwritten notes. Luxury brands, however, are willing to pay a premium for the extra workers needed to provide additional services, Mr. Scattergood said. Workers at its Munich warehouse fold clothes in tissue paper, close the paper with a sticker and tie a ribbon into a bow.
Southern California’s Container Ship Backup Ends
  + stars: | 2022-11-22 | by ( Paul Berger | ) www.wsj.com   time to read: +2 min
It is “time to move into a different phase of operations and declare that the backup has ended,“ Mr. Louttit said. The backup rippled through supply chains, causing monthslong delays in deliveries of furniture, electronics and clothing, and helped push ocean shipping prices to record levels. Many importers have also diverted goods away from West Coast ports. Disputes between dockworkers and their employers during previous labor talks on the West Coast have led to significant shipping delays. The diversions triggered backups at Gulf Coast and East Coast ports.
California Looks to Ban Diesel Trucks at Ports by 2035
  + stars: | 2022-11-20 | by ( Paul Berger | ) www.wsj.com   time to read: +6 min
An ambitious California plan to require trucking fleets in the state to switch from diesel to electric power faces a potential backup at charging stations. Requiring that dealers and truckers make the switch should give companies confidence to invest in charging stations, Mr. Brasil said. The trucks tend to cost two or three times as much as diesel trucks, which retail for about $150,000. State officials say they have funded 200 charging stations for medium- and heavy-duty trucks so far and that many more are being funded by private companies. Write to Paul Berger at paul.berger@wsj.comCorrections & AmplificationsThe Port of Los Angeles expects to install a small number of charging stations for electric trucks.
Imports into the nation’s busiest container port complex in Southern California are plummeting as U.S. trade sputters and retailers and manufacturers shift their supply chains amid increasingly contentious West Coast port labor negotiations. Importers have said they are avoiding West Coast ports because previous contract talks have turned contentious and led to cargo slowdowns. Over the past few months, several West Coast ports have experienced sporadic work disruptions, although port officials say overall container movements remain steady. The declines are a contrast to East Coast ports that continue to see strong cargo volumes. That has also contributed to the recent decline in cargo volumes during what is normally a peak season for ocean shipping.
The delivery drivers of the future may not leave a package at your door. Instead, they’ll be sitting several miles or even time zones away in a control room overseeing a fleet of delivery robots or drones. Companies are plowing billions of dollars into autonomous technologies they hope will improve efficiency and solve worker shortages. So they are striving to dramatically ramp up the number of machines each human oversees. Food-deliverer Serve Robotics Inc., for instance, now has one supervisor in a control room for every four robots on the street.
Union vs. Union Dispute Stalls West Coast Port Labor Talks
  + stars: | 2022-11-08 | by ( Paul Berger | ) www.wsj.com   time to read: +4 min
A dispute between two unions over which workers get certain jobs at a cargo-handling terminal at the Port of Seattle is holding up labor talks between West Coast dockworkers and their employers. West Coast port labor talks are often fraught. Importers are already diverting some goods to Gulf Coast and East Coast ports because of the risk of labor strife. The port talks are taking place against a backdrop of global freight labor unrest. West Coast dockworkers have been working without a contract since the most recent labor agreement expired in early July.
The delivery drivers of the future may not leave a package at your door. Instead, they’ll be sitting several miles or even time zones away in a control room overseeing a fleet of delivery robots or drones. Companies are plowing billions of dollars into autonomous technologies they hope will improve efficiency and solve worker shortages. So they are striving to dramatically ramp up the number of machines each human oversees. Food-deliverer Serve Robotics Inc., for instance, now has one supervisor in a control room for every four robots on the street.
The delivery drivers of the future may not leave a package at your door. Instead, they’ll be sitting several miles or even time zones away in a control room overseeing a fleet of delivery robots or drones. Companies are plowing billions of dollars into autonomous technologies they hope will improve efficiency and solve worker shortages. So they are striving to dramatically ramp up the number of machines each human oversees. Food-deliverer Serve Robotics Inc., for instance, now has one supervisor in a control room for every four robots on the street.
Mr. Skou said the strategy should help insulate Maersk from the boom-and-bust cycles of the container industry. “Our strategy is not to gain market share in ocean,” Mr. Skou said. “When the customers themselves suffer from the effects of economic decline, volume can’t be conjured out of the thin air,” Mr. Skou said. He said the company is trying with its logistics investments “to break away from the cyclicality of the shipping industry and the commoditized nature of traditional container shipping. “We are well on the way towards a significant market position in the logistics industry,” Mr. Skou said.
Organizations: & $
Freight bellwether J.B. Hunt Transport Services Inc. said it is planning for a damped holiday shipping season, as cargo volumes fall ahead of what is typically the busiest period of the year for logistics operators. PREVIEWDarren Field, president of intermodal at J.B. Hunt, said on an earnings call Tuesday that peak season volumes aren’t where the company had anticipated they would be. J.B. Hunt executives said the company is seeing some of that in its freight-brokerage business, where volumes have been softening. Revenue in its brokerage business was down 11% in the third quarter year-over-year and volume was down 8%. Mr. Field said he attributed the September drop-off to the threat of a national rail strike that month.
Freight Operators’ Peak Shipping Season Is Crumbling
  + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com   time to read: +7 min
The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.
Freight Operators’ Peak Shipping Season is Crumbling
  + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com   time to read: +6 min
The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.
Total: 25