29 Jul Halfway Through: A Look Back and Setting Our Sights Forward
Halfway Through: A Look Back and Setting Our Sights Forward
A Look Back and Setting Our Sights Forward
Halfway through the year, it’s time to reflect on Vector Global Logistics’ journey. From groundbreaking initiatives to record-breaking achievements, 2024 has been a year of growth and transformation. Let’s take a look back at our first six months and look ahead to an even brighter second half.
1. Sustainability at the Forefront: Enrique Alvarez at Manifest Vegas
Our Co-founder and Managing Director, Enrique Alvarez, took the stage at Manifest Vegas 2024, moderating the “Enabling Sustainable Fleets” panel. This event brought together industry leaders to explore the future of sustainable supply chains. The panel featured companies like Aramex, Papaya Dash, ROCSYS, and Zypp Electric, discussing the challenges and innovations driving the transition to green logistics. Enrique’s involvement underscored our commitment to sustainability and highlighted the importance of eco-friendly practices in the logistics industry.
Don’t miss this insightful conversation. Watch the full panel discussion here to be inspired.
2. Disasters Expo USA
Our team, including Adrian Purtill and Clayton Schwarz, participated in the Disasters Expo USA. This powerful event brought together industry leaders dedicated to overcoming the challenges of disaster response.
We showcased Vector’s commitment to providing essential logistics solutions, engaging in insightful discussions, and exploring innovative approaches. Adrian’s expert insights on critical logistics practices highlighted our dedication to building a more resilient future.
Want to learn more about how Vector can support your disaster response efforts? Download our free Disaster Relief Guide today.
3. Vector Global Logistics México Achieves ISO 9001:2015 Certification
Vector Global Logistics México celebró un logro significativo en abril al obtener la certificación ISO 9001:2015. Este prestigioso reconocimiento subraya nuestra dedicación a la calidad y la mejora continua. La certificación nos diferencia en un mercado competitivo, reforzando nuestro compromiso con los más altos estándares de gestión de calidad y garantizando un servicio excepcional y satisfacción para nuestros clientes y socios.
Estamos orgullosos de mantener y superar este nivel de excelencia, brindando servicios confiables y de alta calidad. Al destacar estos momentos clave, celebramos nuestros continuos esfuerzos por crear un impacto positivo y ofrecer servicios excepcionales en la industria logística.
Sigamos construyendo un mundo mejor juntos.
4. Celebrating the Logistics With Purpose® Podcast’s 100th Episode
In March, we celebrated a significant milestone – the 100th episode of the Logistics With Purpose® podcast. This achievement was a testament to the inspiring stories and transformative ideas shared through each episode.
We extend our gratitude to our partners at Supply Chain Now for their support. The podcast has become a beacon of inspiration in the logistics and supply chain industry, and we look forward to continuing this journey, fostering connections, and driving change globally.
Listen to Logistics With Purpose® wherever you get your podcasts.
5. Homeless World Cup & Netflix – “The Beautiful Game“
We were thrilled to support the Homeless World Cup, featured in the Netflix film The Beautiful Game, which premiered on March 29th. Starring Bill Nighy and Micheal Ward, the film delves into the real-life stories of former players, showcasing the transformative power of soccer (football) on individuals and communities. This narrative serves as a beacon of hope and resilience, highlighting the positive impact of sports.
Our involvement, alongside other dedicated supporters, helped bring this inspiring story to life. As the team prepares for the Seoul tournament this September, let’s continue to champion their cause.
6. Uniting for Impact: Celebrating Our Global B Corp Certification™
In March, Vector Global Logistics proudly achieved B Corp Certification™ in the US and Sistema B in Mexico and Chile, joining a global community of just over 8,000 companies dedicated to using business as a force for good.
Achieving B Corp Certification™ was a rigorous process, requiring a minimum verified score of 80 points on the B Impact Assessment and meeting strict performance, transparency, and legal requirements. This certification validates our commitment to high social and environmental standards, benefiting our workers, community, clients, and the planet.
We invite you to learn more about our journey and what makes Vector Global Logistics stand out by visiting our website.
Thank you for being part of our story. Here’s to a future where every business is a force for good.
7. Great Place to Work® Certification for the Second Year
In April, we proudly announced that Vector Global Logistics was certified as a Great Place to Work® for the second consecutive year. This prestigious recognition places us among the nation’s top employers, with 89% of our team members saying Vector is a fantastic place to work—32 points above the national average.
We are committed to fostering a vibrant, inclusive, and nurturing environment where people can thrive. Explore opportunities to join our exceptional team and experience our culture of excellence.
8. Supercharging Customs Brokerage with AI Technology
We announced the integration of advanced AI-powered technology into our customs brokerage services for US import operations. This groundbreaking initiative streamlines the customs clearance process, enhancing efficiency, reducing costs, and minimizing hassle for our clients. The new AI technology ensures faster processing times, improved accuracy in classification reviews, and effective management of Duty Drawback claims. This innovation reflects our commitment to providing creative, efficient, and cost-effective solutions, helping our clients gain a competitive edge in the market.
Ready to experience the power of AI in customs clearance? Contact our team today to learn how our innovative technology can streamline your US import operations.
9. Vector Named One of Atlanta’s Best and Brightest Companies to Work For®
In June, we were honored to be named one of the Best and Brightest Companies to Work For® in Atlanta for the fourth consecutive year. This prestigious award, based on employee satisfaction and feedback, recognizes organizations that excel in their employment practices and demonstrate a strong commitment to creating a thriving workspace. Vector was evaluated across various categories, including leadership, community initiatives, work-life balance, and diversity, highlighting our dedication to fostering an engaged and motivated workforce.
Want to be part of our amazing team? Explore career opportunities at Vector Global Logistics.
10. Why Choose an IATA-Certified Partner Like Vector Global Logistics in the US?
Vector Global Logistics emphasized the importance of our IATA (International Air Transport Association) certification in the US. This certification sets us apart by signifying our commitment to exceeding industry standards and delivering exceptional logistics solutions. Partnering with an IATA-certified company like Vector ensures enhanced trust and credibility, streamlined operations with faster transit times, unmatched safety and security standards, expanded network opportunities, and superior customer service. Our IATA certification allows us to leverage global best practices and advanced technology, providing our clients with efficient, reliable, and cost-effective airfreight solutions.
Ready to experience the Vector difference? Contact our airfreight experts today to discuss your shipping needs.
11. Market Updates
As we look back on the significant milestones and achievements we’ve celebrated since January, it’s also essential to keep you informed about the latest trends and developments in the logistics industry. Here are the key market updates that impact our operations and your logistics needs:
- Latin America Sees Surge in Air Cargo Demand: The air freight market in Latin America is experiencing unprecedented growth. Driven by the surge in e-commerce in countries like Mexico, Brazil, and Argentina, and fueled by giants like TEMU and Shein, demand for air transport has reached record levels. Congestion at key ports in the region, combined with customs delays, has exacerbated the situation, forcing companies to turn to air transport as a faster and more reliable alternative. Rates are expected to continue climbing, with estimated increases of at least USD 1.50/kg starting in October. Routes between Asia and Latin America, especially those connecting China with Brazil and Mexico, could experience even higher increases, reaching up to USD 10/kg in the coming months.
- A decline in Spot Ocean Rates: Rates for the Shanghai to LA & NY benchmark lanes have started to recede. The spot ocean rates from Asia to the US West Coast, which had peaked at levels seen during the COVID years, have begun to decline due to increased carrier capacity.
- Increased Vessel Capacity: The trans-Pacific shipping lane has seen a 16% increase in deployed vessel capacity this month compared to June. This boost is driven by the launch or restart of 10 Asian services, helping to drive down the spot rates.
- July Capacity Deployment: In July, carriers plan to deploy 2.6 million TEUs (Twenty-foot Equivalent Units) of capacity to the US coasts, up from 2.25 million TEUs in June.
- Decrease in Blank Sailings: The rate of blank sailings has decreased to 7.2% of available capacity in July, down from 12% in June. This reduction has contributed to the decline in spot rates.
These updates reflect the positive changes in the shipping industry, offering a more optimistic outlook for the coming months. Stay tuned for more updates as we continue to navigate and adapt to the evolving logistics landscape.
Actualización del Mercado
Mientras miramos hacia atrás y celebramos los logros alcanzados desde enero, es esencial mantenerte informado sobre las últimas tendencias y desarrollos en la industria logística. Aquí están las principales actualizaciones del mercado que impactan nuestras operaciones y tus necesidades logísticas:
- Aumento de la Demanda Aérea en América Latina: El mercado de carga aérea en América Latina está experimentando un crecimiento sin precedentes. Impulsado por el auge del comercio electrónico en países como México, Brasil y Argentina, y alimentado por gigantes como TEMU y Shein, la demanda de transporte aéreo ha alcanzado niveles récord. La congestión en los puertos clave de la región, combinada con los retrasos en las aduanas, ha exacerbado la situación, obligando a las empresas a recurrir al transporte aéreo como una alternativa más rápida y confiable. Se espera que las tarifas sigan aumentando, con estimaciones de al menos USD 1.50/kg a partir de octubre. Las rutas entre Asia y América Latina, especialmente las que conectan China con Brasil y México, podrían experimentar aumentos aún mayores, alcanzando hasta USD 10/kg en los próximos meses.
- Disminución de las Tarifas Oceánicas Spot: Las tarifas para las rutas de referencia Shanghai a LA y NY han comenzado a retroceder. Las tarifas oceánicas spot desde Asia a la costa oeste de EE. UU., que habían alcanzado niveles máximos durante la era COVID, han comenzado a disminuir debido al aumento de la capacidad de los transportistas.
- Aumento de la Capacidad de Buques: La ruta de envío transpacífico ha visto un aumento del 16% en la capacidad de buques desplegados este mes en comparación con junio. Este impulso es impulsado por el lanzamiento o reinicio de 10 servicios asiáticos, lo que ayuda a reducir las tarifas spot.
- Despliegue de Capacidad en Julio: En julio, las navieras planean desplegar 2.6 millones de TEU (unidades equivalentes a veinte pies) de capacidad en las costas de EE. UU., en comparación con los 2.25 millones de TEU de junio.
- Disminución de los Vuelos en Blanco: La tasa de vuelos en blanco se ha reducido al 7.2% de la capacidad disponible en julio, frente al 12% de junio. Esta reducción ha contribuido a la disminución de las tarifas spot.
Estas actualizaciones reflejan los cambios positivos en la industria del transporte marítimo y aéreo, ofreciendo una perspectiva más optimista para los próximos meses. Manténgase atento a más actualizaciones a medida que continuamos navegando y adaptándonos al cambiante panorama logístico.
Catch up on recent episodes of our Logistics With Purpose® podcast:
