XPO Logistics Inc. announced March 25 it has sold its North American intermodal business to STG Logistics, a Chicago-based provider of import-export and value-added warehouse logistics services, for a cash price of $710 million.
March 25, 2022Logistics 100 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
XPO Sells Intermodal Unit to STG Logistics for $710 Million
Warren Says Ocean Freight Alliances Add to Inflation
Sen. Elizabeth Warren (D-Mass.) blamed rising U.S. inflation in part on the largest ocean shipping companies, calling “the anti-competitive nature” of the industry the root cause of soaring prices to transport goods around the global economy.
USPS Doubles EV Order From Oshkosh
The U.S. Postal Service announced March 24 it ordered more than 10,000 new electric delivery trucks, up from the 5,000 the agency had initially planned to purchase.
Truckstop Introduces Load Booking Mobile App
Freight management company Truckstop.com announced March 24 that it will launch a mobile app to connect carriers with loads.
March 24, 2022White House to Seek Infrastructure, Freight Boost in FY23 Budget
WASHINGTON — The Biden White House intends to seek a boost in funding for infrastructure programs and freight-related grants in its upcoming budget request to Congress.
Pacific, Atlantic Coast Ports Post Strong Volumes in February
Another month, another all-time monthly record at the Port of Los Angeles, the nation’s busiest port facility.
Lockdowns Hinder Operations at Key Chinese Ports
Congestion in the key Chinese ports of Shenzhen and Hong Kong due to COVID-19 lockdowns has risen to the highest level in five months, posing possible delays to goods heading to the U.S. this summer.
TCA Discusses Leadership Transition, Presents Awards at Annual Conference
LAS VEGAS — The Truckload Carriers Association moved forward with its leadership transition and recognized fleets’ efforts to provide a better workplace experience for their drivers at the group’s annual conference, convened March 19-22.
Senate Committee Approves Ocean Shipping Reform Act
WASHINGTON — A U.S. Senate panel easily approved legislation meant to facilitate the flow of freight at the country’s ports.
Canadian Pacific Reaches Deal With Union to End Stoppage
Canadian Pacific Railway said it will resume normal operations after it agreed to work with an arbitrator on a contract for 3,000 workers, ending a two-day work stoppage.