Trafigura said it expected to lose nearly $600 million due to “systematic fraud” perpetrated by businessman Prateek Gupta, according to legal filings seen by Bloomberg.

Shippers and logistics services providers are looking for technology tools to meet the requirements of today’s market. 

As transportation costs continue to rise and supply chains become increasingly complex, the demand for freight audit and payment services will likely grow. 

Advances in data science and software are disrupting the industry — and providing shippers with better results, quicker and less expensively.

The global third-party logistics (3PL) market reached $1.47 trillion in 2022, according to Armstrong & Associates, Inc. (A&A), an increase of 14.5% over 2021 revenues.

4PLs and 3PLs are not mutually exclusive, says Eric Rempel, chief innovation officer at Redwood Logistics. But 4PLs do have other capabilities that logistics managers might want to tap.

As inflation rises and recession looms, companies are compelled to take a close look at their production, supply chain and sales practices.

Despite inflationary pressures on companies' pocketbooks, now is the time for them and logistics service providers to gear up for challenges 2023 is likely to present, says Mike Riegler, senior vice president, LSP, One Network.

Logiswift, the Dubai-based provider of a software platform for supply chain orchestration, has opened its first office in the U.S., in Houston, Texas.