Singapore-listed logistics property developer GLP has made its second multi-billion dollar investment this month, acquiring a $4.55 billion U.S. logistics portfolio from Industrial Income Trust a week after leading a consortium of investors in establishing a $7 billion China-focused infrastructure fund.
If U.S. shippers feel less pain when it comes time to pay freight bills this year, they can thank the worldwide oil glut. With the third quarter under way, the very significant impact of the collapse in oil and fuel prices over the past year on U.S. freight transportation is clear.
Airlines flying cargo between China and Europe will be hit hardest by Beijing’s One Belt, One Road trade strategy as the land bridge rail route proves too attractively priced to ignore, believes Steve Flowers, head of global freight forwarding at UPS.
Swift Transportation last year led the trucking industry in raising driver pay, and that pay raise, however costly, is paying off handsomely for the largest U.S. truckload carrier as driver retention improves and profits rise 27 percent from a year ago.
Strong cross-border business in Europe and the highest demand for deferred package service in the U.S. in a decade helped UPS increase second quarter profits, despite falling revenue.
Roadrunner Transportation Systems has acquired Stagecoach Cartage and Distribution for $35 million, continuing the buying spree it embarked on in 2013 as merger and acquisition activity dominates the transportation and logistics industries.
Universal Truckload Services’ second quarter profit and revenue slipped amid reduced truckload demand, but the company said volume and pricing strengthened for other businesses, notably intermodal drayage.
Port of Halifax’s recent inclusion on G6 and CMA CGM services to Asia bode well for a container rebound at the Nova Scotia gateway.
Old Dominion Freight Line, the fifth-largest U.S. less-than-truckload carrier, has opened a 24-door terminal at Sidney, Montana, to handle growing traffic from the region’s oil and agriculture businesses.
Truck maker Paccar expects to sell more Class 8 tractors this year than last because motor carriers are enjoying higher rates and seeking more demand.
BNSF Railway is cracking down on dwell times in its intermodal terminals in an effort to improve circulation and prepare for recent and anticipated growth in intermodal traffic.
The Port of New York and New Jersey's container volume during the first half of 2015 rose 13.4 percent from a year earlier, putting the East Coast's largest port on pace to exceed its record 2014 volume.