Flexport

Today, on 10-4 Day (also known as National Truckers Day), we’re celebrating the value of feedback from the trucking community. Among truckers, "10-4" means "we're listening—message received.” At Flexport, we want you to know that we mean it: every Convoy app feature is shaped by direct carrier feedback and insights. The challenges faced by owner-operators, drivers, brokers, and shippers remain a central focus of innovation for the Convoy Platform—and we’re proud to build technology that empowers the entire trucking ecosystem to drive more growth and efficiency. To learn more about the next era of trucking (and how the Convoy Platform is leading the way), check out Head of Trucking Bill Driegert’s guide to the digital freight brokerage revolution: https://lnkd.in/eQEKn3dX For carriers looking to join the Convoy Platform, get started on the Convoy app here: https://lnkd.in/e4thKKtw

Last week, Flexport celebrated the launch of the Private Sector Humanitarian Alliance (PSHA), a global coordinating body that “scales the resources, expertise, and technology of the private sector to support humanitarian crisis response.” "The private sector has the power to not only move goods, but to mobilize solutions,” said Ryan Petersen, CEO of Flexport. “By joining forces and leveraging the expertise of different industries, we can help build a more resilient and responsive humanitarian system.” As a founding member of PSHA, Flexport is eager to drive new avenues of impact alongside the world’s most committed businesses. Learn more about PSHA here: https://thepsha.org/ And read more about Flexport.org, our dedicated impact arm: https://lnkd.in/ecBWz5hB

Last night, Flexport CEO Ryan Petersen returned to NewsNation to break down the latest on the ILA strike. How long the strike will last remains uncertain—as does its broader long-term impact. “Freight coming to the West Coast hasn’t yet spiked,” Ryan said. “People are waiting to see [what happens]. Does this get resolved this week? If so, you don’t need to change any habits.” If the strike continues, however, we could eventually see major ripple effects. “Prices would go to the moon, just as we saw during Covid,” he warned. “Freight that’s building up will [create] cargo back-ups sitting off the shore. All around the world, containers will be waiting to get loaded.” Once affected ports reopen, “whoever’s willing to pay the most will get on those ships,” he continued. “Prices would for sure go up in the ocean freight market.” Watch the full breakdown 👇

📢 Don’t miss out—European Freight Market Update Webinar Alert! Join us next week on Tuesday at 15:00 BST / 16:00 CEST for the webinar, where we’ll provide crucial insights into the air and ocean freight markets, along with an in-depth analysis of the direct and indirect effects of the International Longshoremen’s Association (ILA) strike in North America. 🚢 Our experts Dharshini Shegran and Camille (Chauvin) Carenton will be sharing valuable insights, including: - The latest updates on the ILA strike, and its implications for global shipping - Recommendations for quick adaptation to stay ahead of this rapidly evolving situation - Additional news and updates on air and ocean trade lanes Sign up here 👉 https://lnkd.in/ef55rYBf

🌊 Weekly Global Logistics Market Updates 🌊 Here’s what we’re monitoring: 📝The ILA has officially launched a coast-wide strike, shutting down major ports from Maine to Texas. Carriers have already started declaring force majeure for certain vessels. Tomorrow, Flexport CEO Ryan Petersen will host a webinar on the ILA work stoppage, its impact on global shipping and the U.S. economy, and how businesses can quickly adapt to stay ahead. Sign up here 👉 flx.to/hkk 🚢 Transpacific Eastbound (TPEB) Ocean Route: Carriers have announced port congestion surcharges, detention & demurrage (D&D) fees, and terminal status updates following Golden Week. This may cause further operational disruptions, increased port congestion, and vessel deployment challenges for East and Gulf Coast schedules. 🚢 Far East Westbound (FEWB) Ocean Route: Floating rates have continued to decrease in the first half of October. Spot pricing has remained steady for the past two weeks, influenced by the holiday slowdown. Carriers are now more proactive in adjusting rates to optimize vessel utilization. ✈️ Air: Global air cargo tonnage fell by 3% WoW, mainly due to autumn festivals and national holidays in key markets like China, South Korea, and Chile. Check out the full update for more, and subscribe today to stay on top of the latest news and trends from around the industry. #supplychain #logistics #freightmarket #freightindustry #oceanfreight #oceancargo #oceanshipping #airfreight #aircargo #airshipping #trucking #intermodal #railfreight

[LAST CHANCE TO REGISTER] Tomorrow (10/03), join our trade advisory experts for a deep dive into Harmonized Tariff Schedule (HTS) classification and tariff engineering—essential duty optimization tools for importers. We’ll discuss HTS product classification at the 8- and 10-digit levels—a must-know compliance strategy following the recent de minimis executive action. We’ll also explore the fundamentals of tariff engineering, how product composition can impact duty rates, and more. 📌 Reserve your spot: https://lnkd.in/eXcby2DV

Many businesses made contingency plans well ahead of the ILA strike. “Starting at the beginning of the year, it became very clear that this was going to be a major issue,” Flexport CEO Ryan Petersen told NPR. In recent days, he said, Flexport's focus has been on getting cargo out, so as not to incur hefty fees for containers left at East and Gulf Coast ports, and shoring up operations at West Coast ports in anticipation of a surge of activity. Read the full breakdown: https://flx.to/NPR-LI

Yesterday, The New York Times visited Flexport’s warehouse in Newark, providing a behind-the-scenes glimpse into how it looks after one of busiest ports came to a halt amid the ILA strike. “We’re in uncharted waters,” Sean Murphy, a manager at Flexport’s New Jersey warehouse, told the Times. It stood in stark contrast to last week, when Flexport worked closely with our customers to send in shipments before the union’s contract expired on Monday. The last-minute influx capped off several months of anticipatory action, with many businesses proactively building up supply or even diverting cargo to the West Coast. “Our customers generally have two months’ worth of extra inventory in stock,” Flexport CEO Ryan Petersen explained. Read the full article for more: https://flx.to/nyt-LI

Workers at ports stretching from Maine to Texas went on strike today in a dispute over wages and automation. This comes after the union rejected a deal with the US Maritime alliance that would have raised wages nearly 50% over six years. Flexport CEO Ryan Petersen joined to show to discuss how long he expects the strike to last and the impact it could have on inflation.

At midnight today, the International Longshoremen’s Association (ILA) officially launched a strike spanning the U.S. East and Gulf Coasts—the union’s first since 1977. A strike lasting only a few days will result in minimal disruptions, while a longer work stoppage may lead to major product shortages and price surges. “Big, bulky items like furniture are hit harder because fewer items fit in a container, driving up the per-item cost,” Flexport CEO Ryan Petersen told Newsweek. A prolonged strike may lead to pandemic-level disruptions. In such cases, the right logistics technology can move the needle. “One lesson we learned from Covid is the importance of better visibility and planning in the supply chain," Ryan added. "Companies need better tools to track shipments and plan for disruptions.” Read the full breakdown here: https://flx.to/newsweek-LI