Carriers
DHL TESTS HEAVY-DUTY ELECTRIC TRUCKS IN THE US
DHL is to pilot the use of four battery-powered heavy-duty trucks in Los Angeles. This is the company’s first move into Class 8 electric vehicles in the US. According to DHL, the trucks will transport goods to and from it’s Los Angeles air gateway and services facilities. The average haul length will be 36 miles. Each truck will make multiple hauls per day. In addition, the trucks will support DHL’s peak season operations in the US. For more information, please see Freight Waves.
USPS ANNOUNCES 2021 SHIPPING RATE INCREASES
On Monday, the US Postal Service (USPS) announced increases for its shipping rates in 2021. Next year, commercial shipping rates will increase by 3.5 percent on its Priority Mail two- to three-day deliveries, while its Priority Mail Express next-daily delivery will increase 1.2 percent. However, the Postal Regulatory Commission (PRC) must first approve the increases. Once approved, the price changes will come into effect from January 24. According to the USPS, the rates will allow the service to offer both competitive pricing and generate revenue. For more information on this news item, please see Freight Waves.
Retail
US OCTOBER RETAILS SALES SLOWER THAN EXPECTED
In October, US retail sales were slower than expected. The slow sales are a result of increasing coronavirus cases and declining income due to unemployment and the loss of financial support from the government. Last month, retail sales grew by just 0.3 percent. This was the smallest increase since the beginning of the recovery in May. For more details, please see Reuters.
AMAZON INVESTS IN WAREHOUSES IN THE UK
As a result of Brexit uncertainty, online retailers have become worried about cross-border supply chain issues and the possibility of needing to store additional inventory in the UK. Consequently, e-commerce giant Amazon has been investing in its UK logistics and delivery infrastructure. Amazon now accounts for up to one third of new warehouse space in the country. Furthermore, while this is a part of its growth in the UK, a no-deal Brexit and supply chain delays could impact Amazon. For more information, please see eSellerCafe
Global Trade
UK INFLATION INCREASES IN OCTOBER
In October, UK inflation rose by more than expected. This was due to higher prices for both clothing and footwear and food as tighter coronavirus restrictions came into force across much of the country. The Office for National Statistics said that UK consumer prices grew by 0.7 percent annually. That is slightly higher than the 0.6 percent forecast by a Reuters poll of economists and followed a 0.5 percent increase in September. Nonetheless, in Scotland, Wales and Northern Ireland, surveys of consumers indicated that many turned to renewed stockpiling in response to the restrictions. At the end of October, the UK government announced a one-month lockdown for England and began on November 5. For more details, please see RTE.
THREE MAIN ISSUES PERSIST IN BREXIT TALKS
An EU official has said that trade talks between the EU and UK are very close to an agreement on most issues. However, conflict remains over fishing rights, guarantees of fair competition and mechanisms to solve future disputes. On Thursday, the Brexit negotiators had to suspend direct talks after an EU team member tested positive for coronavirus. Negotiations continued remotely as officials worked towards reaching a trade deal that would come into effect in six weeks. For more details, please see Reuters.
Precision News
MEET CUSTOMER DEMANDS WITH MULTI CARRIER SHIPPING SOFTWARE
Even before the global pandemic shut stores around the world, e-commerce was an unstoppable force. Last year, over 100 billion parcels were shipped across 13 major markets — Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Norway, Sweden, the UK and the US.
Small parcel volumes will continue to rise. Forecasts suggest that parcel volumes will more than double by 2026. This growth is largely due to retail e-commerce.
However, e-commerce has impacted other industries as well. Parcel shipping has become increasingly important for companies that ship business-to-business too.
More parcels are going to more customers, in more places than ever before. With increased volumes, shippers also have an increased need to manage and control the parcel shipping spend. In this Precision Report we discuss the benefits of multi carrier parcel shipping solutions. To read the full report, please click here.
[LIVE WEBINAR] SIMPLIFYING POST BREXIT TRADE: 5 THINGS TO CONSIDER
Given the ongoing uncertainty and fluidity of the UK’s global trade situation post-Brexit, corporate leaders are understandably concerned about their ability to manage their supply chains through what amounts to an ongoing instability crisis. Even in the event of a deal, shippers will need to comply with a number of different customs requirements.
Please join Precision on Tuesday, 24 November 2020 at 2 pm GMT for a 30-minute webinar where industry experts will look at how the following processes can simplify post-Brexit global trade and shipping:
- Simplifying Classification
- Export Compliance
- FTA Compliance
- Documentation & Paperless Shipping
- Consolidations
If you can’t attend, register anyway and we'll send you the on-demand recording.
