UPS Ends 2017 With Strong Results
UPS Inc. reported robust fourth-quarter earnings, even after adjustments tied to pension contributions and the Tax Cuts and Jobs Act, led by double-digit growth in the freight and third-party logistics businesses and a strong holiday season.
ArcBest Ends 2017 With Strong Fourth Quarter
ArcBest Corp. ended the year with a strong fourth quarter because of better less-than-truckload pricing and lower expenses than one year ago.
C.H. Robinson Ends 2017 With Strong Fourth Quarter
C.H. Robinson Worldwide reported profits jumped 25% in the fourth quarter, outpacing results from one year ago even after also eliminating the effects of the Tax Cuts and Jobs Act on the bottom line.
Flexport Opening New Office in Chicago
Flexport, a technology-based freight forwarder, will open a fifth U.S. office in March with a location in Chicago, adding about 100 jobs over the next two years.
Port of Long Beach Sets Record for Container Volume in a Year
The Port of Long Beach recovered from a rocky 2016 with a record-setting year in 2017, moving 7.5 million industry-standard twenty-foot-equivalent units, the port’s leader announced at the State of the Port address Jan. 24.
Union Pacific Ends 2017 on the Right Track
Union Pacific Corp. announced that profits grew to $7.3 billion or $9.25 per share, a figure that includes a line item connected to the Tax Cuts and Jobs Act.
Shippers Plan to Move More Freight in 2018
Three out of every four shippers plan to route more freight in 2018 than last year, according to the annual State of the North American Supply Chain survey.
Ocean Freight Industry Stabilized in 2017, Freightos Says
The ocean freight industry stabilized in 2017, with rates remaining relatively steady after the turmoil of 2016 from the bankruptcy of Hanjin Shipping Co., according to a report from online freight marketplace Freightos.
Canadian National Reports Mixed Fourth-Quarter Results
Canadian National Railway reported earnings more than doubled in the fourth quarter, although the final figures were bolstered by the Tax Cuts and Jobs Act.
CSX Will Adopt New Policy to Require CEOs to Receive Annual Physicals
CSX Corp. will adopt a new resolution Feb. 7 to require CEOs to undergo annual independent medical evaluations after a shareholder lobbied the company to do so shortly after Hunter Harrison’s death.