Update: Beginning 11.15.17 CLIFF NOTES will be published on Wednesdays. 

CLIFF NOTES 
Top Logistics Headlines This Week

Domestic Freight Management

Countdown to ELD: 40% of Small Fleets Unprepared

The ELD (Electronic Logging Device) mandate is scheduled to take effect on December 18, however, a recent survey shows more than half of small fleets are not yet ELD compliant. Industry experts project that the mandate will prompt some to exit the industry, further limiting capacity and increasing rates. Click here to read more. 

Cargo Theft Increases but Value Decreases

U.S. cargo theft incidents increased 24 percent during Q3, however, the value of cargo stolen decreased 17 percent. Building and industrial products, food and drinks as well as home and garden products were the most stolen items. Click here to read more. 

Carrier Reliability Improves in Q3 but Still Behind 2016

A report released by SeaIntel shows that ocean carrier on-time reliability improved to 74.7 percent during Q3 but still trails year-over-over-year performance levels. Of the vessels originating in Asia, 80.8 percent arrived to West Coast ports on-time whereas 70.4 percent of vessels docked at East Coast ports on-time.

Indian Truckers Strike

Imports and exports at India's Cochin Port (also referred to as Kochi) were impacted this week due to a strike by truck drivers. Operations resumed on Tuesday, November 7, however, congestion is reportedly lingering as the southern port works through container backlogs. Click here to read more. 

ILA-USMX Contract Update

The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) are reportedly planning on meeting early next month to discuss a possible five-year contract extension. The current contract between the East and Gulf coast labor union and its employers will expire next fall.

Retail Consolidation

Warehousing Space Continues to Tighten

Climbing ecommerce volumes are limiting available warehousing space across the country and continuing to force costs upwards. Vacancy rates for U.S. warehouse and distribution centers averaged 4.6 percent in Q3, the lowest ever reported by CEBRE. Average rent prices have also increased 6.3 percent compared to 2016.

Walmart Pay Rivals Apple Pay

According to reports, the Walmart Pay app is close to surpassing Apple Pay in mobile payment usage across the United States. Walmart Pay is currently available in 4,744 stores and the world's largest retailer is reporting tens of thousands of new users per day. Click here to read more.