This quarterly report aims to provide insights into the supply chain and logistics industry by highlighting the latest in freight pricing trends, port capacities, labor dynamics, current events, supply chain best practices and recent Colliers case studies.
Key Takeaways for Q2 2023
- As of July 25, UPS and the Teamsters reached a tentative 5-year agreement averting a strike on July 31. However, the deal will not be officially ratified until union members vote on the agreement and this will not be completed until August 22.
- Freight rates across all modes have come down significantly compared to the peak levels from last year.
- Supply and demand for warehouse workers is becoming more balanced but wages are still high on a historical basis.
- Space constraints do not always require a larger building. There are tactical and strategic alternatives to improve the space utilization of a legacy location.
View the report here.