Cosco Shipping Holding Co. plans to sell as much as HK$7.43 billion ($947 million) of shares in Orient Overseas International as part of efforts by China’s biggest container-shipping line to maintain the listing status of the rival it is acquiring.
July 6, 2018Logistics 100 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
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Extras
Cosco Shipping to Sell $947 Million of Orient Overseas Shares
Shortage of Truck Drivers Hits New York Businesses, Pushes Up Wages
A national shortage of truck drivers because of factors such as a competitive job market is making an impact on New York’s Long Island, forcing businesses to adapt, and driving up the pay of workers seeking to drive a big rig.
Amazon to Open 60,000 Square Foot Oklahoma Warehouse
Additional permit applications filed this week show continued work to add an Amazon Delivery Center to the company’s growing Oklahoma City, Okla., presence.
Dr Pepper Drivers in Chicago Reach Deal, End 40-Day Strike
More than 150 Chicago Teamsters ended their strike against Dr Pepper Snapple Group Inc. after ratifying a new four-year contract, union and company officials confirmed July 3.
AAA Expects Holiday Traffic to Break Record
The AAA predicts a record-breaking 46.9 million Americans will travel 50 miles or more away from home for the Independence Day holiday, an increase of more than 5% compared with last year’s prediction and the highest number since AAA started tracking travel 18 years ago.
Drone Deliveries Become Reality as China Races to Take the Lead
The day after Chinese e-commerce giant JD.com Inc.’s midyear sale, a company drone took off from a playground in the city of Xi’an to deliver one of the orders in a football-sized box to a village in the mountains to the south.
July 3, 2018Japanese Government Envisions Cars in the Sky by 2020s
In a bid to achieve the practical use of self-driving flying cars in the 2020s, the government will establish a public-private council possibly within this year to discuss safety issues, technological development and other matters, Japanese newspaper The Yomiuri Shimbun has learned.
July 2, 2018Shortage of Drivers Slows Booming Truck Demand
Demand for new commercial trucks is surging as companies look to replace aging vehicles and freight volumes have jumped in recent months.
Even Amazon’s Feeling the Strain From Insatiable Delivery Demand
Amazon.com Inc.’s call for entrepreneurs to help expand its package-delivery network is a cry for help.
Maine Governor’s Latest Bonds Ploy Highlights Peril of Borrowing to Fix State’s Roads
AUGUSTA, Maine — There is probably nothing more unifying in Maine’s contentious politics than borrowing lots of money to improve the state’s transportation system, but recent events at the State House have also showed why it may be a poor policy.