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Momentum Repeats as BBB Winner of Distinction
HOUSTON, Texas, 2009 (SEND2PRESS NEWSWIRE) — For the second straight year, Momentum - the nation’s premier auto and freight transport provider — has earned the Better Business Bureau’s coveted Winner of Distinction award, presented in recognition of Momentum’s superior commitment to ethics, overall excellence, and quality in the workplace.
Momentum’s CEO, Greg Giles, released this statement: “Momentum remains committed to serving our client’s needs while adhering to the highest ethical standards. We are extremely honored to be recognized for this commitment to excellence for a second consecutive year.”
The BBB Awards for Excellence was created to recognize businesses and non-profits that excel in quality achievement, management and customer service while exhibiting integrity in the marketplace and exemplary dedication to fostering trust between businesses and consumers.
Freight Rate no Longer on the Rise, Spot Rates Levelling Off
Freight rates for shipping a container from Los Angeles to an Asian-Pacific nation was expected to rise this year and they have. After implementing a $400 emergency increase under their current contracts with shippers, carriers have managed to increase the rate by more than double. Fifteen freight carriers belong to the Transportation Stabilization Agreement. With declining business, they have had to take some vessels out of service in order to cut operating costs. This allowed them to stay in business as freight rates have plummeted over the last few years. However, now there is not enough capacity available to meet shipping demands. This has allowed freight carriers to raise their rates as shippers must scramble to find an available carrier when they need one. As of February 8th, 2010, the average amount paid to ship a 40 foot equivalent unit was $2012. This was a 41.2% increase over the price that carriers where able to charge at the same time last year. Much of the current increase is due to the Chinese New Year starting and the need to ship now since there will be a temporary work stoppage to celebrate. Over the last week the freight rate increased by 20.5%. The average spot rate last saw a significant increase in August of 2009 when it experienced nearly a 60% increase to break the $1000 barrier for the first time in months. In May of 2009 a new low of $949 was reached, a 53.4% reduction from the previous year.
Asia-US Spot Container Rates Rise, Lunar New Year Rush
Freight forwarders need to be aware of seasons when they do their trucking logistics; Christmas is huge in the US, both for the number of goods coming in leading up to the holiday but for the amount of people who will be off of work on and around the holiday. In East Asian countries, the Lunar New Year, which comes on February 14th this year, is the big go-home-to-mom-and-dad holiday; factories close down for a week as people head home for the holiday. Two years ago, the lunar New Year in China was marked with a nasty snowstorm on a par with what the East Coast is getting today, shutting down trains and stranding travelers trying to get home. No major storm is in the forecast yet for this year, but exporting firms look to get as much product onto ships and heading for their customers before breaking for New Years. That means that shipping space leaving Asia is at a premium in the weeks leading up to the New Year; spot rates for container transport shot up 20% last week and stayed steady this week. That might well mean that parts of March may be slow at the west coast docks, as the lack of ships leaving Asia on New Year’s week will mean slow harbors during the week the ships would have normally gotten there. That week would be a good time to ship stuff out of California, for you’d likely have a lot of truckers looking to keep busy. http://www.msnbc.msn.com/id/22882150/ http://www.joc.com/node/416596
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