Logistics

The Teamsters and European labor representatives attempted to force a meeting with XPO Logistics CEO Bradley Jacobs to discuss union issues but were rebuffed by the company at its annual meeting.

Danish firm Maersk Group, owner of the largest ocean carrier, earlier this month reported first-quarter earnings plummeted nearly 90% to $224 million, weighed down by an even greater profit decline at Maersk Line due to downward pressure on container freight rates.

Deutsche Post AG stood by profit targets through the end of the decade, dismissing the threat posed by customer Amazon.com's expansion into parcel deliveries.

XPO Logistics Inc. and Estes Express Lines have agreed to pay a total of $13 million to settle overcharge claims in connection with the Defense Transportation Coordination Initiative program, a federal contract that was meant to lower military logistics costs.

All major North American railroads pushed through rate increases earlier this year even as freight fell the most since 2009.

XPO Logistics and Estes Express have agreed to pay a total of $13 million to settle overcharge claims in connection with the Defense Transportation Coordination initiative, a federal contract that was meant to lower logistics costs.

XPO Logistics slightly reduced its first-quarter loss, excluding one-time costs, to $9.8 million, or 8 cents per share, while earnings slipped 9% to $96.6 million, or 53 cents, as airfreight and ocean forwarding results weakened.

Expeditors International of Washington Inc. reported net income fell 9% to $96.6 million, or 53 cents per share, as air and ocean freight forwarding shipments and profitability declined.

The St. Louis Regional Freightway launched April 27 to coordinate planning and projects for the region’s freight and shipping infrastructure as well as to expand the local industrial business market on both sides of the Mississippi.