Recently in Logistics: Our team announced our new fulfillment centre in Caledon, Ontario. American Express Canada reports 81% of small business owners are optimistic for 2024. Hurricane Milton causes freight disruptions, the third in two weeks. Drewry’s World Container Index dropped 5% to $3,489 per 40-ft container, down 66% from its 2021 peak. TikTok Shop and Storfund launched “Daily Advance,” offering sellers instant cash flow upon shipment. Learn more by reading our latest logistics update.
NLS breaks ground on omnichannel fulfillment centre
National Logistics Services (NLS) has started building a state-of-the-art fulfillment centre in Caledon, Ontario. This 624,000-square-foot facility will feature AI-driven automation and robotics, aiming to handle over 50 million units annually. NLS President Mark Dienesch highlighted the company’s focus on innovation and future readiness during the groundbreaking event. Learn more and read the full press release: News Wire
Optimism Grows Among Canadian Small Businesses: Amex Survey
American Express (Amex) Canada reports 81% of small business owners are optimistic about hitting 2024 goals, citing cash flow, new products, and capital. With 77% expecting Q4 sales growth and 57% of consumers supporting small businesses, many aim to expand online in 2025.
Source: Retail Insider
Freight Market Faces Pressure as Hurricane Milton Looms
Hurricane Milton’s approach to Tampa marks the third freight disruption in two weeks, following the ILA strike and Hurricane Helene. These events have led to Rising tender rejection rates, signalling tighter capacity. With Milton’s landfall imminent, further supply chain disruptions are likely.
Source: Freight Waves
Container Shipping Rates Fall 5%, Down 66% from Peak
Drewry’s World Container Index dropped 5% to $3,489 per 40-ft container, a 66% decrease from its 2021 peak. Despite the decline, rates are still 146% higher than pre-pandemic levels. Notable rate drops occurred on routes from Shanghai to Genoa, Rotterdam, Los Angeles, and New York, while rates on some routes remained stable.
Source: Inside Logistics
TikTok Shop Launches Instant Cash Flow with Storfund
TikTok Shop teams up with Storfund to introduce “Daily Advance,” providing sellers with instant cash flow once products ship. This first-of-its-kind solution in the U.S. eCommerce market addresses payout delays that can impact sellers’ ability to restock and scale. TikTok’s partnership with Storfund supports its expanding eCommerce footprint, now serving over 500,000 U.S. merchants.
Source: PYMNTS
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