The New York Shipping Exchange, founded in 2015 by a former industry executive to make the container shipping market more efficient, is raising another $15 million to expand contracts that can help protect companies’ supply chains from price hikes and other uncertainties.
August 25, 2021Extras
Goldman-Backed Exchange Raises Cash to Expand Shipping Contracts
UPS Starts Drone Delivery of COVID Vaccines
UPS Inc. started delivering coronavirus vaccines with the use of drones as part of a new initiative announced Aug. 24.
Walmart to Launch Delivery Service for Other Businesses
NEW YORK — Walmart said Aug. 24 it will start farming out its delivery service, using contract workers, autonomous vehicles and other means to transport rival retailers’ products directly to their customers’ homes in as little as a few hours.
Supply Chain Issues Take Shakes Off the Menu at British McDonald’s
LONDON — McDonald’s says it has pulled milkshakes from the menu in all 1,250 of its British restaurants because of supply problems stemming from a shortage of truck drivers.
August 24, 2021Pilot Freight Services, American Linehaul Announce Strategic Partnership
Pilot Freight Services has formed a strategic partnership with American Linehaul Corp. to expand its middle-mile expedited less-than-truckload capabilities, the companies announced Aug. 19.
August 23, 2021Cowan Systems Implements Driver Incentive Program
Cowan Systems has implemented an incentive program that guarantees every newly hired driver a $15,000 bonus, the company announced Aug. 19.
August 23, 2021Amazon Became Hedge Fund Favorite Just Before Shares Tumbled
Hedge funds piled into Amazon.com Inc. in the second quarter, putting themselves on the front line of losses as the stay-at-home trade began to unravel.
The Search for Drivers and the Fight to Keep Them
Although career opportunities in trucking are abundant, the driver shortage has been a thorn in the industry’s side for years, and it has only become more severe as freight demand has surged amid the recovery from the COVID-19 pandemic.
Supply Chain Challenges Likely to Remain Well Into 2022
As retailers ramp up inventory for a fast-approaching holiday shopping season, experts worry that an already overextended domestic supply chain will be further tested amid overseas ports’ struggles with the COVID-19 delta variant, rising shipping prices and trucking’s persistent and growing driver shortage.
Just as Things Look Better for Retail, Amazon Rears Its Head
News of Amazon .com Inc.’s department store plans sent a shudder through retail stocks just as some of the biggest names in the industry were reporting robust earnings, a signal that new challenges await in the beleaguered sector.