Uber Freight Q1 report unpacks biggest supply chain impacts: Theft, Red Sea + LTL

We’re seeing the long-term effects of Yellow’s exit, with LTL volume spreading out evenly and nearly $2B generated from the sale so far

Uber Freight just released its Q1 2024 Market Update and Outlook Report, which unpacks some of the biggest impacts on supply chains right now. Key insights include:

• What’s impacting Mexico: From cargo theft to a presidential election – Mexico was the top US trading partner in 2023 and nearshoring is stronger than ever, but the upcoming presidential elections could change everything. Likewise, cargo theft in MX remains a headache and new regulations are causing delays. 
• Global ocean transport is experiencing major disruption amid Red Sea crisis – Cargo travel has slowed by 40% with nearly 2 weeks of delays across global supply chains, causing some of the world’s biggest shippers to change course. 
• Yellow’s terminals find new ownership + level the LTL playing field – We’re seeing the long-term effects of Yellow’s exit, with LTL volume spreading out evenly and nearly $2B generated from the sale so far. In fact, traditional LTL carriers have bought 90% of the available terminals sold to date.

As these insights have major implications for the global freight market, Uber Freight has outlined key recommendations which calls on shippers to implement robust safety procedures; budget and plan capacity accordingly; tap into logistics technology for flexible routing and sourcing; increase investment in automation as well as network and carrier collaboration; and more. 

View Entire Report Q1 2024 Market Update and Outlook Report

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