Logistics

Just 60 miles south from one of the most famous locations in American transportation history, Promontory Point, Utah, a new transportation and logistics center is open for business and still being built out.

CMA CGM SA, one of the world’s largest shipping companies, agreed to buy Fenix Marine Services, which operates a container terminal in the Port of Los Angeles, in a deal with an enterprise value of $2.3 billion.

ArcBest saw its highest quarterly revenue and operating income in its history during the third quarter, the company reported Nov 2.

Expeditors International of Washington posted third-quarter gains in profit and revenue as the logistics company capitalized on tight freight capacity and soaring prices.

With the Biden administration seeking remedies to ameliorate freight connectivity concerns related to the national supply chain, the U.S. Department of Transportation announced a partnership with agencies in California.

Technological solutions are increasingly helping shippers and carriers manage a boisterous business climate in which spot freight plays a prominent role.

A.P. Moller-Maersk A/S expects shipping markets to remain tight at least into the first quarter with global container demand set to grow faster than previously expected.

The world’s largest shipping hubs are suffering elevated levels of congestion as containers pile up at seaports from Singapore to Greece’s Piraeus.

The record steel rally is starting to show early signs of cooling, with one top U.S. producer scouring for buyers to take over abandoned orders of high-end metal used by automakers.

GXO Logistics released its first earnings report Nov. 1 after becoming an independent company.