The freight forwarders operating U.S.-inbound marine services saw volume growth slow to just 0.6% year over year in 2Q after volumes in June fell 2.7%. K+N saw the most significant reversal in fortunes with U.S. seaborne imports down 13.7% year over year in June compared to an average 2.5% slippage in the prior three months. Among the U.S.-based forwarders CH Robinson continued to underperform Expeditors with 7.5% and 1.3% reductions respectively. Recent commentary from FedEx suggests continued trade tensions will weigh on the sector’s volume performance. The strategy of industry consoli...
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