On this episode of Midday Market Update. Kaylee Nix andMichael Vincentdo a checkup on the health of the supply chain across all markets.
Starting off with headlines, ELD provider ORBCOMM is being acquired by a private equity firm in a deal estimated to be worth over $1 billion. Hyliion has started gathering fleets to test its Hypertruck ERX, and those fleets include big names like Penske and Anheuser-Busch. And TuSimple has hopes to raise as much as $1.5 billion in its IPO deal.
FreightWaves Market Expert Zach Strickland gives a quick update on the state of the freight markets heading into produce season, and FreightWaves Lead Economist Anthony Smith talks jobless claims and his outlook for manufacturing rebounds.
Nix and Vincent host NTC CCO Drew Herpich, who discusses how the Suez Canal blockage is going to affect the U.S. carrier. Herpich says carriers have it made as far as cash flow goes in this market but the biggest struggles come in sourcing capacity and finding people to drive the capacity they do source.
Up next is Mr. Supply Chain Daniel Stanton, who agrees with Herpich that capacity crunches are hurting the supply chain as a whole. Stanton breaks down his idea that a functional supply chain will consist of companies that are able to plan, execute and create visibility around freight, not just deliver goods from point A to point B.
Last up, FreightWaves Intermodal Expert Mike Baudendistel joins the show to talk about his new show, The Stockout, and how international and domestic rail markets are dealing with backups and container shortages. Baudendistel says spot rates are continuing to show growth across all sectors of the country even as freight sits waiting to be unloaded in ports.
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