Supply chain dislocations, low orderbook and low-single-digit demand growth for oil bodes well for crude tanker rates over the coming years. In this Talking Transports podcast, DHT Holdings President and CEO Svein Moxnes Harfjeld joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss the outlook for the very large crude carrier (VLCC) tanker market. The changes in freight flows from Russia’s war with Ukraine has had a bigger impact on rates then the crisis in Red Sea, as VLCC ships don’t traverse the Suez Canal when fully loaded. Moxnes Harfjeld also talks about DHT’s approach to lowering emissions, the shadow fleet, changes in global crude demand and life before shipping as a drummer in the band Small Affairs.

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 Better service and reduced rate volatility are just some of the benefits to becoming a shipper of choice. In this Talking Transports podcast, John Janson SanMar’s Vice President of global logistics, joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss how relationships with trucking, intermodal, parcel and ocean partners are critical for managing his supply chain. SanMar has moved some imports away from the East Coast to avoid potential disruption due to pending labor negotiations. Janson also talks about bid season across modes of transportation, railroad service, inventory destocking, sustainability, near-shoring trends and how he pushed his dream of being a placekicker for the Chicago Bears aside for a career in logistics. 

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Shippers are increasingly looking for freight forwarders to drive more-resilient networks, which are under strain from risks in the Red Sea, low water levels in the Panama Canal, port labor negotiations and a trend toward derisking supply chains. In this Talking Transports podcast, DHL Forwarding’s CEO of the Americas Tim Robertson joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss how DHL is positioning in a rapidly changing environment. A focus on high-growth segments like health care and small- to medium-sized shippers should fuel organic expansion at one of the largest forwarders. Robertson also talks about technology-fueled productivity investments, market consolidation, near-shoring trends and how a chance meeting got him into logistics.

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A focus on value-added verticals, like life sciences and over-dimensional markets, has helped mitigate the weak freight backdrop for some North American freight brokers. In this Talking Transports podcast, Tucker Company Worldwide CEO Jeff Tucker joins Lee Klaskow, Bloomberg Intelligence senior transportation and logistics analyst, to discuss the broker’s more resilient business model and how the company may be positioned for growth when the freight cycle turns. Trucking conditions could improve as the market appears to be at equilibrium, with more capacity slowly leaving the market and demand growth likely around the corner. Tucker also talks about technology, the bid season, sustainability and the importance of therapy and communication when running a privately held business with his brother.

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The exit of Yellow Corp. from the less-than-truckload (LTL) market last summer helped mitigate weak freight demand and provided a tailwind for pricing. In this Talking Transports podcast, Old Dominion Freight Line’s CFO Adam Satterfield joins Lee Klaskow, Bloomberg Intelligence senior freight transportation & logistics analyst, to discuss the outlook for LTL markets and how the company is positioned to take on more freight demand when it starts to inflect upward. The company’s industry-leading service levels — measured by low cargo claims and high on-time deliveries — has allowed it to drive rates higher. Tonnage growth should come at high incremental margin and could drive a sub-70 operating ratio over time.

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Transport management teams appear cautiously optimistic that freight demand will bounce off the current state of malaise. In this Talking Transports podcast, Citi Research Managing Director and lead equity analyst of air freight, surface and marine transportation Christian Wetherbee joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss his takeaways from Citi’s industrial conference in Miami last week. J.B. Hunt’s management noted increased competition early on during its intermodal bid season. Norfolk Southern’s presentation left the audience wanting more details about how its strategy is better than the one proposed by activist Ancora. Wetherbee also talks about how the trucking, railroad, ocean and parcel markets are shaping up heading into March.

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The crisis in the Red Sea, low water levels in the Panama Canal and other supply-chain dislocations have increased the importance of enabling shippers to know where their freight is. That helps ensure customers’ needs are met and production shutdowns avoided. In this Talking Transports podcast, Project44’s founder and CEO Jett McCandless joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss the importance of supply-chain visibility and how the company is leading the digitalization of freight markets. McCandless also talks about acquisitions, investing for growth and leveraging its datasets with AI to empower customers, as well as the company’s journey toward going public and getting an enterprise value of over $100 billion.

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The low orderbook, demand growth and longer ton-miles created by supply-chain disruptions bode well for the health of the dry-bulk industry. In this Talking Transports podcast, Seanergy Maritime Holdings Chairman and CEO Stamatis Tsantanis joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss the opportunities and challenges facing the global dry-bulk shipping market. A prolonged crisis in the Red Sea could drive Capesize rates and profit higher for owners in the coming months. One of the biggest challenges will be the industry’s ability to meet the International Maritime Organization’s goals for zero emissions by 2050 through a transition toward greener fuels, he says. Tsantanis also talks about the impact of Russia’s war on Ukraine and China’s demand for raw materials.

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The worst appears to be behind transportation markets, and it’s just a matter of time before the freight recession gives way to growth. In this Talking Transports podcast, Deutsche Bank’s managing director in charge of transportation and shipping research, Amit Mehrotra, joins Bloomberg Intelligence senior transportation & logistics analyst Lee Klaskow to discuss the outlook for freight markets and which companies have secular tailwinds. He’s looking for companies with opportunities for outsized demand growth or turnaround-operations stories. J.B. Hunt, Saia, Norfolk Southern, Union Pacific and UPS are some of Mehrotra’s favorite freight stocks in 2024. He also talks about precision-schedule railroading, intermodal trends, the Red Sea crisis and share opportunities for less-than-truckload carriers.

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Less-than-truckload (LTL) pricing power and share gains from the demise of Yellow last year could position carriers for earnings growth and margin expansion in 2024. In this Talking Transports podcast, Saia President and CEO Fritz Holzgrefe joins Lee Klaskow, Bloomberg Intelligence senior transportation & logistics analyst, to discuss the outlook for the LTL markets and the company’s expansion prospects. Improved service and increased reach has helped Saia offset inflationary pressures, with an 8.7% increase in contract renewals in 4Q. It plans to open 15-20 new terminals to better serve customers and provide a springboard for organic growth. Holzgrefe also talks about how the company is investing in facilities, tractors, trailers and technology to position for expansion.

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