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Kazakhstan to complete investigation into deaths of servicemen during Caspian Sea exercises soon

EXCLUSIVE: ‘Humor is good,’ Union Pacific CEO says of video rate threat

The chief executive of Union Pacific says he wasn’t serious when he threatened to raise rates for shippers that didn’t support UP’s merger with Norfolk Southern . Vena, who frequently peppers his public comments with joking asides, characterized the comment made to a shippers group as “a little humor” in a message to …

Suez Canal Authority Tows Sanctioned Russian Tanker to Safety

The Suez Canal Authority is highlighting its broad salvage capabilities available to shipping beyond the canal, including regional waters around Egypt...

STB turns UP-NS merger fight into inquiry over shipper intimidation

Union Pacific must disclose Jim Vena’s conference video and produce records about possible retaliation. The railroad denies making threats, and regulators have yet to decide whether anyone was intimidated – or whether the merger review should continue. For a regulator assessing the largest proposed US railroad combina…

Teamsters say they’ve organized Amazon employees in Indiana; company demurs

The Teamsters are claiming victory for a group of “W-2” drivers at an Amazon facility in Indiana who sought representation by the union. But as with the entire Amazon-Teamsters relationship, it’s complicated. In its prepared statement announcing the “march” on the company to demand it bargain for a contract, the Teams…

Mexico cargo thieves shift tactics as Q3 truck parking thefts surge

Cargo thieves in Mexico are increasingly targeting parked trucks, shifting operations toward the country’s industrial heartland and exploiting nighttime security vulnerabilities. “Now, in Mexico, you can’t move loads without a plan,” Luis Enrique Villatoro, president of the Mexico-based National Association of Vehicle…

Conrail tabs Wright as president and chief operating officer

Conrail has named John Wright its new president and chief operating officer, bringing aboard a freight rail veteran with decades of operating and executive experience. Wright most recently served as general manager of Indiana Harbor Belt Railroad, a 600-employee switching and belt-line railroad based in Hammond, Ind. …

A Super El Niño Is About To Test Which Freight Enterprises Plan For Impact And Which Only React

For most enterprises the first sign of a winter storm is still a broad, countrywide warning, the kind that tells a leadership team something is coming but says nothing about which lanes will fail, which distribution centers sit in the path, or which customer commitments are about to slip, and in a season shaping up to…

STB orders Union Pacific to make alleged rate hike threat video public

The Surface Transportation Board has ordered Union Pacific to make public a recording of Chief Executive Jim Vena’s remarks to a shipper conference, rejecting the railroad’s appeal in a dispute over whether he threatened customers who oppose its proposed acquisition of Norfolk Southern (NYSE: NSC ). The board’s Nov. 4…

Behind The Capitol Christmas Tree Is A Kenworth, Four Drivers, And A 2,000 Mile Haul Only Trucking Can Pull Off

Every December a towering evergreen rises on the West Lawn of the U.S. Capitol and gets called the People’s Tree, but before a child from its home state flips the switch to light it, the tree has to survive something most of the public never stops to consider, a journey of more than 2,000 miles from a remote national …

Harbinger raises $240M to expand EV platform beyond trucks

Harbinger raised $240 million in Series D funding to push its electric vehicle platform into energy storage, power generation, autonomy, and defense while it ramps production for a 2,000-truck order from FedEx . Tiger Global, Capricorn’s Technology Impact Fund, and Ridgeline co-led the round, the Garden Grove, Califor…

Humble Robotics raises $51M for cabless hauler pilots

Humble Robotics raised a $51 million Series A on Thursday to move its cabless, electric Humble Hauler into customer pilots on port drayage and warehouse runs. Obvious Ventures led the round, with participation from existing investors Eclipse and Energy Impact Partners. The raise brings the San Francisco startup’s tota…

Nasdaq plunges into correction territory

CNBC reports: The Nasdaq Composite plummeted on Thursday, erasing the sharp gains from the previous session, as investors accelerated their move away from technology stocks in the wake of the U.S. midterm elections. The tech-heavy Nasdaq declined 3.9% and dipped into correction territory, trading more than 10% below a…

Detention fees have a simple problem: a bigger bill cannot move a box that cannot move

The US Federal Maritime Commission wants research into when charges above compensatory cost actually speed cargo movement. For shippers, the critical distinction is between a delay they can prevent and one they cannot. A container is ready to leave a terminal, the trucker has an appointment, and the importer chooses t…

US Army enlists FedEx to modernize logistics at depots

FedEx Corp. has made clear that its future lies with premium B2B logistics services in key industrial verticals that require precision execution, such as automotive, healthcare, aerospace and data centers — not cheap last-mile delivery for online retailers. Add the defense sector to the list of industries the freight …

Cristiano Ronaldo announces retirement from Portugal national team

Portuguese football superstar Cristiano Ronaldo has announced his retirement from international football.

Buying Trucks in a Buyer’s Market: What Owner-Operators Are Weighing Right Now

The scramble is over. Carriers and owner-operators who spent the past few years chasing build slots, paying inflated prices for used units and taking whatever iron they could find are now facing a different problem: plenty of options and very little margin for a bad decision. Lead times have stabilized, used pricing h…

Maersk raises profit outlook as earnings surge, but shares slide on expectations miss

A.P. Moller-Maersk raised its full-year earnings forecast on Thursday after higher freight rates drove a sharp increase in third-quarter profit, but its shares fell as the results and upgraded outlook disappointed investors. The stock dropped as much as 11.6% in Copenhagen trading. The Danish shipping and logistics gr…

Port of Long Beach set to handle record 10m teu this year

The Californian port of Long Beach is predicted to handle more than 10m teu this year, for the first time. “It’s been a peak year,” Port of Long Beach CEO Noel Hacegaba told The Loadstar on the sidelines of the World Ports Conference in London this week. “This could well be the first 10m teu year for us.” His comments…

Azerbaijan, European partners prepare for key energy corridor talks

A meeting on the Caspian-Black Sea-Europe Green Energy Corridor project is set to take place in Bucharest at the end of November.

Americold raises full-year outlook as warehouse performance improves

Americold Realty Trust raised its full-year earnings outlook Thursday after reporting higher third-quarter revenue and improved warehouse margins, while a one-time gain from its joint venture with EQT drove a sharp swing to profit. The temperature-controlled logistics company (NYSE: COLD ) based in Atlanta reported ne…

US importers should reconsider farming out customs paperwork, warns CargoTrans

US importers using ‘delivered duty-paid’ (DDP) shipping arrangements face increasing compliance and financial risks, as Customs and Border Protection (CBP) intensifies its scrutiny of foreign importers of record, according to CargoTrans. Nunzio De Filippis, co-CEO, and Rennie Alston, director of trade compliance, warn…

Mærsk prints billions, but doesn’t build confidence

It was a strong quarter for all three units. (Stock market reaction: -11.6% in early trade.) So opened the Q3 26 call with analysts by AP Møller-Mærsk (APMM) CEO Vincent Clerc, whose prepared remarks went on, and on, and on, and on for well over 10 minutes. That did feel like a good hour of my life wasted again and th…

Ocean the star as Maersk reports Q3 bump in revenue, but drop in volume

Maersk experienced a 27% year-on-year bump in its third-quarter revenues, hitting $18.1bn, buoyed by a sharp rise in container freight rates that more than offset a slight dip in volumes, prompting it to join ONE in revising its full-year outlook. While the Danish shipping and logistics group said revenue growth had b…

‘Reminds me of Covid’: AI equipment chokes Taiwan’s air cargo gateway

Uncollected imports are clogging cargo warehouses at Taiwan Taoyuan Airport, tying up dollies and slowing aircraft unloading as equipment arrives to support the island’s AI and semiconductor industries, according to local forwarders. Seko Logistics has reported handling pressure affecting China Airlines, EVA Air, and …

DHL’s growth broadening beyond Express – Global Forwarding sparkles

With the headline numbers pre-released three weeks ago, the full third-quarter report matters most for where DHL’s growth is coming from. Express still earns about 60% of group profit, but forwarding is winning air freight faster than its main rivals in a tight market, and Supply Chain’s new contracts are up 42% this …

GXO Logistics – it’s all about margins, stupid!

Three months after a beat-and-hold quarter tested the market’s patience, GXO delivered what it called its fastest organic growth in more than three years, largely finished integrating Wincanton and stepped up buybacks. Premium y’day wondered ahead of trade: ‘Where is the joy?’ – well, the shares rose 9.5% on the day o…

Continued congestion at ports puts pressure on intra-Asia box rates

Congestion at several ports continues to put upward pressure on intra-Asia container freight rates, despite improving conditions at major Chinese gateways and key transhipment hubs. The result is the Drewry Intra-Asia Container Index (IACI) is up by $46, to $1,504 per 40ft. Spot rates from Greater China to North-east,…

KLM reshapes cargo handling as AI demand fuels growth

KLM plans to consolidate cargo handling at Schiphol to accommodate additional freight without hiring more staff, as AI supply chains and disruption to ocean shipping strengthen parent Air France-KLM’s cargo business. The changes form part of a wider restructuring, announced today, aimed at improving KLM’s finances and…

Port strike delayed again at Los Angeles, Long Beach ports

A potential strike by port watchmen at Los Angeles and Long Beach has been delayed again after the Pacific Maritime Association and International Longshore and Warehouse Union Local 26 agreed to extend their contract through midnight Pacific Time on Friday. Negotiations will continue Friday with assistance from federa…