Lower Profits Expected at Hapag-Lloyd Despite Merger Plans
Hapag-Lloyd AG's share price fell the most since its initial public offering in November as a forecast of lower profit and a share-sale plan overshadowed a final deal to join forces with United Arab Shipping Co. to become the world’s fifth-largest container carrier.
July 18, 2016CSX Net Income Falls 20%, Starts Second Quarter on Down Note
CSX Corp. began the second-quarter freight transport earnings reporting season by announcing that net income fell 20% to $445 million, or 47 cents per share, dragged down by a 34% reduction in coal revenue.
July 14, 2016As Another Oil Train Derails, Regulators, Lawmakers Say Progress Being Made
Three years ago July 6, an unattended train carrying crude oil from North Dakota rolled down a hill toward the town of Lac-Megantic, Quebec.
July 11, 2016Opinion: Mexican Logistics and Sorting Out the Border
The logistics industry in the United States is rapidly evolving. Thirty or 40 years ago, we worked within our own borders to manufacture and produce many of our own goods. In the 1980s and 1990s, this quickly shifted to China and India, because production costs and labor were much cheaper overseas. Even with the costs of transportation, the United States could manufacture goods much easier in China than in our own homeland.
July 11, 2016Third-Party Logistics Market Expected to Pass $1.1 Trillion by 2022
An Allied Market Research report finds that the global third-party logistics market is expected to reach $1.1 trillion over the next six years.
July 8, 2016Universal Logistics Says Second-Quarter Earnings to Trail Forecasts
Universal Logistics Holdings Inc. has become the third truckload operator to announce its second-quarter earnings will fall short of the average analyst estimate due to weak freight markets.
July 8, 2016Schneider Truck Driver Wins National Award for 51 Years of Safety on the Road
Bob Wyatt, Schneider's most-decorated and longest-tenured driver, won the 2016 International Driver Excellence Award from the Commercial Vehicle Safety Alliance.
July 8, 2016Iowa Lands $25 Million Grant for Freight Hub
A grant worth more than $25 million has been awarded to construct a Cedar Rapids intermodal transportation facility officials say is to become a one-of-a-kind freight hub for the state.
July 8, 2016Shipping Firms Promise the EU Steps to Prevent Price Hike Collusion
BRUSSELS — Several container shipping companies have promised to change practices that potentially allowed them to raise the price of global goods transport, the European Commission announced July 7, following an investigation.
July 7, 2016TransForce Acquires Canadian Operations of K.A.S. Personnel Services
Transforce Inc., a staffing agency for truck drivers, has acquired the assets of K.A.S. Personnel Services, another commercial truck-based staffing agency based in Mississauga, Ontario.
July 5, 2016