XPO Opens Final-Mile Distribution Hub in Toronto
XPO Logistics has expanded its home-delivery business in Canada with the opening of a 50,000-square-foot distribution hub in Toronto.
August 8, 2018Sunoco Completes Equity Purchase of Sandford Energy
Sunoco Partners Marketing & Terminals said it has paid approximately $66 million to obtain the equity stake in Sandford Energy it did not already own, giving Sunoco full control of the company.
August 7, 2018Oil Companies Fret as Congress Debates Russia Sanctions
WASHINGTON — Oil and gas executives have watched wearily in recent years as the relationship between the United States and Russia deteriorated, steadily closing off their ability to drill the vast shale plays underlying Siberia and the deep-water oil fields off Russia’s Arctic coast.
August 3, 2018U.S. Xpress Revenue Grows 21.4% in Past Year
A three-year turnaround in the operations and culture at U.S. Xpress Enterprises helped the Chattanooga, Tenn., trucking firm raise more than $250 million in an initial stock offering in June and deliver its best operating ratio in two decades this spring.
August 3, 2018YRC Worldwide Reports Mixed 2Q Earnings Compared With 2017
YRC Worldwide Inc. reported a decline in second-quarter net income, even as operating revenue increased.
August 2, 2018Saia Follows Industry Trend With Record Earnings in 2Q
In the midst of a buoyant economy, less-than-truckload carrier Saia Inc. on Aug. 1 reported record second-quarter earnings. Saia said operating revenue was up nearly 18%, reaching nearly $428.7 million, or $1.18 a share, compared with $364.4 million, or 69 cents a share, for the same period in 2017.
August 1, 2018Universal Logistics Holdings Reports Revenue Record for 2Q
Universal Logistics Holdings Inc., a Warren, Mich., truckload carrier, said the company set a record for total operating revenue in the second quarter, reaching $366 million compared with $305 million in 2017.
July 27, 2018New CNG Station Opens in Central Virginia
American Natural Gas announced it opened a fast-fill compressed natural gas station in Lynchburg, Va. The facility will primarily serve CNG tractor-trailers operated from a nearby plant of PepsiCo Inc.’s Frito-Lay division, but it will also be open to the public.
July 27, 2018Forward Air Reports Strong 2Q Earnings
Forward Air Corp., a mostly expedited LTL carrier, reported July 26 second-quarter net income of $24.3 million, or 83 cents per share compared with $19.7 million, or 65 cents, a 23% increase from a year ago. The company’s operating revenue increased to $330.3 million compared with $283.9 million, a 16% jump.
July 26, 2018Controversial $10 Million Toll Study Approved in Connecticut
Connecticut’s State Bond Commission recently approved a $10 million study to assess the feasibility of tolling on certain routes in the state.
July 26, 2018