If you see prices creeping higher for everything from cereal to socks in the next few months, you can probably blame this stark reality: There aren’t enough truck drivers delivering the goods to stores.
April 26, 2018Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
Truck Driver Shortage Spurs Rising Prices, Delayed Deliveries
UPS Delivers 1Q Net Income of $1.34 Billion, Up 15% Year-to-Year
UPS Inc. reported double-digit gains in the first quarter as a result of the strength of its global business as well as economic conditions.
Bid to Restrict Lanes for Big Trucks in Baton Rouge Area Dies in House
A bid to ease Baton Rouge traffic problems by requiring big trucks to stay in the right lane during evening rush hour died April 25.
Alberta Drillers Near Deals With Railroads, Potentially Easing Oil Logjam
Alberta’s beleaguered oil industry may get some relief from its persistent shipping bottlenecks in the second half of the year as producers strike deals with rail companies to move more crude.
April 26, 2018Echo Global Logistics Reports Revenue Surge in 1Q
Echo Global Logistics reported record revenue in the first quarter of 2018 and posted a profit, compared with a loss a year ago, as tight capacity drove more business to third-party transportation service providers.
Will Wabtec Acquire GE Transportation?
A flurry of reports over the past few days speculate that GE Transportation will be sold to a longtime supplier, Westinghouse Air Brake Technologies Corp., which does business as Wabtec Corp.
Port Group Urges Caution on Possible US-China Trade War
The American Association of Port Authorities has written to U.S. Trade Representative Robert Lighthizer urging the Trump administration to carefully consider the negative impact trade sanctions could have on the country’s ports and the trucking and transportation industries.
China’s Uber for Trucks Is Said to Raise $1.9 Billion in Funding
Full Truck Alliance Group, China’s biggest app for Uber-like truck services, raised $1.9 billion in funding to fuel its expansion, sources familiar with the matter said.
CN Rail Mulls Real Estate Sales to Raise Cash for Network Revamp
Canadian National Railway Co. will consider selling additional real estate to free up cash that can be plowed back into its network.
XPO Logistics Appoints Troy Cooper, Kenneth Wagers to Executive Posts
XPO Logistics promoted Troy Cooper to the newly created position of president from COO, and appointed Kenneth Wagers COO with responsibility for operations in 32 countries.
April 24, 2018