As the U.S. inflation rate reaches 8.3%, a near 40 year high, experts predict that the continued high price of diesel fuel increases the potential for a U.S. recession in 2023. FreightWaves reports this week that according to economists high prices for diesel will eventually translate to higher consumer prices as these costs are passed on to consumers by shippers and trucking companies. (See more at: FreightWaves, “The climbing price of diesel is raising the risk of a recession” by Noi Mahoney, May 17, 2022)

‍

The past three decades following the break-up of the Soviet Union (USSR) have been an amazing productive economic period for capitalism in modern times. During this time, China’s GDP dramatically grew over four fold just in the ten years following 2000, with “little regard for individual rights, environmental standards, or free markets.” (More at: FreightWaves, “Free trade is dead ….” By Craig Fuller, 5/16/22)

‍

Alongside development of battery-electric vehicles (BEVs), FleetOwner also explains the technology and growing market of the hydrogen fuel-cell vehicle (FCEV). While both approaches provide a zero-emission solution, the fuel-cell technology actual generates electricity directly onboard the vehicle as the fuel-cell houses and allows a chemical reaction between hydrogen and oxygen. It seems apparent that the hydrogen solution is more practical for longer distances and heavier vehicles like trucks than BEV. (Read more about U.S. companies deploying FCEVs at: FleetOwner, “The dawn of hydrogen trucks” by Tyler Fussner, 5/9/2022)

Fairfield, ME – Parsifal Corporation announced today a collaboration with ecolegIT, a unique and simple technology solution for corporate customers and suppliers – offering a full carbon emission offset compensation for individual moves. ecolegIT offsets carbon emissions through selected sustainable forestry projects that also contribute to local social and environmental goals. Parsifal validates reported carbon offsets and related payments utilizing the Parsifal EcoAudit™. (See Read More for full Press Release)

‍

The current opinion from shippers appears to be that demand is down 23% compared to previous year, and rates are bottoming at levels compared to lows in May 2020, reports FreightWaves based on trucking research from Bank of America. An expectation of a freight recession is backed by one key indicator that shows a truckers rejection rate dropping from 25.76% in April last year to 9.92% this month. More concerning is that freight is often a major indicator for the general economy, there is worry that this could indicate a forthcoming economic downturn. (More at: FreightWaves, “Bank of America sounding the alarm …” by Racheal Premack, 4/25/2022)

The Asia-U.S container shipping capacity has dramatically changed over the past two years. The capacity has increased 24% this past 12 months as of April compared to prior 12 months, keeping up with the increase of 24.7% in 2021 as well. In addition, the Asia-East Coast capacity has surpassed that of the Asia-West Coast growth by over 7%. Projections are also showing higher Asia-U.S. annual contract rates in 2022 compared to previous year. (See more at American Shipper, “How COVID transformed trans-Pacific container shipping” by Greg Miller, April 20, 2022)