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Logistics News
Business, Government, Logistics

Consumer Confidence Fell More Than Forecast in April

Consumer confidence retreated more than forecast in April as Americans’ optimism about the outlook for the economy and employment waned.

Michelle Jamrisko | Bloomberg News
April 26, 2016
Logistics

Norfolk Southern Earnings Rise 25%, Helped by Cost Cuts

Norfolk Southern Corp. reported the best year-over-year improvement in first-quarter rail industry earnings, boosting net income 25% to $387 million, or $1.29 per share, helped by expense reductions and improved results for commodity groups, particularly automotive shipments.

April 22, 2016
Business, Logistics

Union Pacific Profit Beats Estimates Amid Cost Cutting

Union Pacific Corp. reported first-quarter earnings higher than analysts’ expectations as the railroad cut costs and boosted prices to mitigate a steep drop in cargo demand, pushing shares to their highest value in five months.

Thomas Black | Bloomberg News
April 21, 2016
Business, Logistics

Trailer Orders Top 13,000, Off 39% Year-Over-Year

U.S. net orders of trailers hit 13,800 in March, down 39% year-over-year as all but dump trailers showed weakness, while backlogs remained solid, research firm FTR said.

Roger Gilroy | Senior Reporter
April 21, 2016
Business, Logistics

Hapag-Lloyd, UASC in Merger Talks as Cargo-Price Crisis Lingers

Hapag-Lloyd is in talks with United Arab Shipping Co. on a possible combination of their container businesses, potentially setting up the German company’s second merger in two years as the maritime-freight industry grapples with a drop in prices.

Nicholas Brautlecht | Bloomberg News
April 21, 2016
Business, Logistics

China Wants Its Cargo Ships to Use Faster Northwest Passage in Arctic Ocean

BEIJING — China will encourage ships flying its flag to take the Northwest Passage via the Arctic Ocean, a route opened up by global warming, to cut travel times between the Atlantic and Pacific oceans, a state-run newspaper reported April 20.

Ben Blanchard | Reuters
April 20, 2016
Business, Logistics

Maryland Seeks $155 Million From Feds to Clear Freight Rail Bottleneck Beneath Baltimore

The state and the railroad CSX Transportation have agreed to a plan to remove a bottleneck for freight shipping beneath the streets of Baltimore and have requested $155 million in federal funding to help pay for the project they say will boost Maryland's economy.

Tim Prudente | The Baltimore Sun
April 18, 2016
Business, Logistics

CSX First-Quarter Earnings Tumble 19%, Hurt by Sharp Drop in Coal Market

CSX Corp. kicked off the first-quarter earnings reporting season on a down note as net income fell 19% to $356 million, or 37 cents per share, and revenue dipped 14% to $2.62 billion, including a drop of 37% in coal traffic.

April 12, 2016
Business, Logistics

J.B. Hunt's Shelley Simpson Wins Distinguished Woman in Logistics Award

SAN ANTONIO — Shelley Simpson, chief marketing officer of J.B. Hunt Transport Services, was named winner of the 2016 Distinguished Woman in Logistics award.

Neil Abt | Editorial Director
April 11, 2016
Logistics

Canadian Pacific Calls Off Norfolk Southern Merger Bid

Canadian Pacific Railway terminated a plan to combine with Norfolk Southern Corp., ending the Canadian carrier’s efforts to complete the first merger among major railroads since 1999.

April 11, 2016
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