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May16, 2016

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| MIDYEAR BREAKBULK & PROJECT CARGO REPORT: WHERE IS THE MARKET HEADING? MAY 19, 2 P.M. ET, FREE The shipping lines that operate multipurpose ships carrying breakbulk and project cargoes are suffering from overcapacity, a lack of global demand and low freight rates, just like their cousins in container shipping. The breakbulk/ project cargo sector is complex, encompassing commodities such as steel, natural rubber, heavy-lift shipments, out-of gauge cargo, etc., and demand can vary widely by commodity and region. This 60-minute webcast will examine the outlook for the market and the economic issues driving its direction. Register: http://tinyurl.com/hsb3kkq | CHASING AMAZON: DYNAMIC WAREHOUSE STRATEGIES ON DEMAND, FREE Amazon has changed consumer expectations. One or two-day shipping is no longer a luxury, it is now crucial to winning and keeping customers. How are retailers without Amazon's 90-plus North American warehouses supposed to compete? How can wholesale distributors keep up with ever-increasing expectations? The webcast will examine the economics of emerging dynamic warehouse strategies that are starting to change the way logistics professionals think about creating competitive advantage through their distribution capabilities. Register: http://tinyurl.com/hnh5rkw WEBCASTS SLIDE SHOWS | CONTAINER SHIPPING TURNS 60 http://bit.ly/1SHjtQX | TOP 50 TRUCKING COMPANIES — FIVE KEY TRENDS http://bit.ly/1VZCPTU JOC EVENTS | JOC GULF SHIPPING CONFERENCE June 13-14, 2016 Houston, Texas http://bit.ly/1TfCRSt | JOC CONTAINER TRADE EUROPE CONFERENCE September 13-14, 2016 Hamburg, Germany http://bit.ly/1Sh24fz | TPM ASIA CONFERNECE October 11-13, 2016 Shenzhen, China http://bit.ly/1TfxqFZ FEATURED CONTENT The majority of Class I railroads say they will continue to load containers on trains whether or not they are accompanied by certifi ed weights come July 1, when the new International Maritime Organization's container weight regulations take effect. http://bit.ly/1rolR5R The Port of Oakland is doing its part to reduce truck congestion by extending, for at least two more months, a subsidy program that is reimbursing terminal operators for some of the additional costs they are incurring to run night and weekend gates. http://bit.ly/1q0G6FQ The world's major shipowners are feeling the pressure as container ship charter rates plummet and charters are being renegotiated as the fi nancial positions of shipping lines worsen, according to Drewry. http://bit.ly/1SOkO6z Turn to www.joc.com for the latest breaking news, analysis, special projects and events-related information. Here's what's hot: trending trending trending on on on trending on trending trending trending on trending on trending on trending trending trending on trending LTL CARRIERS LANDING HIGHER CONTRACT RATES AT A TIME when many transport operators say prices are being beaten down, less-than-truck- load freight haulers in the U.S. are winning rate increases in annual contract bids. That's largely because unlike their truckload counterparts, or ocean shipping lines, LTL trucking compa- nies don't have much excess capacity, if any, in their hub-and-spoke transportation networks. Despite a decelerating economy, LTL trucking companies for the most part are sticking with the pricing discipline they've maintained since a rate war in 2008-2010 slashed prices and led to several quarters or even years of damaging losses for several trucking companies. And some LTL carriers are increasing rates despite declines in shipment volume and tonnage. "Our contractual pricing has continued to increase between 3 and 5 percent," James Welch, CEO of YRC Worldwide, said during an April 28 confer- ence call transcribed by Seeking Alpha. "We're going to continue to stay very committed to our strategy of pricing for profi tability, and making that our No. 1 priority versus market share," Welch told Wall Street analysts. Multiregional LTL carrier Saia pushed pricing even higher. "Despite no noticeable improvement in the level of general economic activity, we secured aver- age rate increases of 5.3 percent on contractual renewals in the (fi rst quarter)," President and CEO Rick O'Dell said. Even ArcBest LTL car- rier ABF Freight System, which had a $9 million operating loss in the fi rst quarter, is holding the line on pricing. "While ABF Freight saw dimin- ished business levels because of the soft freight environment, pricing stability remained intact," Judy R. McReynolds, ArcBest chairman, presi- dent and CEO, said in remarks to Wall Street analysts last month. JOC "Our contractual pricing has continued to increase between 3 and 5 percent" Spotlight 8 THE JOURNAL OF COMMERCE www.joc.com MAY 16.2016

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