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The post FBX Report: July 02, 2024 appeared first on FreightWaves.
The post FBX Report: July 02, 2024 appeared first on FreightWaves.
Zim, the world’s 10th-largest container line operator, has sunk into the red as its boom-era contract coverage has crumbled under the weight of falling spot rates. The Israel-based company reported first-quarter results Monday that were much worse than expected, causing a double-digit plunge in its share price in quadruple average trading. Shares (NYSE: ZIM) were…
The clock is ticking on a threat by Uber and Lyft to pull out of Minneapolis on May 1 after the City Council this week overrode a mayoral veto of an ordinance laying out minimum compensation requirements for app-based drivers. The current measure has few substantive differences from a plan that died last year after…
Nearly three-quarters of large online retailers plan to invest in two-day parcel delivery over the next two years, a sign that e-tailers take seriously the value of speed in consumers’ online purchasing decisions, according to a survey commissioned by regional parcel carrier OnTrac. Two-day delivery is expected to be the standard for the upcoming peak…
The price of Russian Urals crude, exported from ports in the Black Sea and Baltic Sea, is now at or above the $60-per-barrel price cap set by the Group of Seven nations and the European Union. If it stays there or rises further, European tanker owners and their U.K. insurers will not be able to…
“The need for speed” goes beyond the famous quote by Maverick in “Top Gun” — it can also be considered the mantra of the logistics world. Trade at rest is not making money. That was made clear two years ago, when the ports around the globe were congested with containers. The cascading impact of the…
Freight fraud has become an all-too-familiar term in the transportation and logistics sectors in recent years. Although fraud has long been a challenge in the field, industry experts observe that these criminals have evolved alongside FreightTech, leaving supply chain participants uncertain about who will bear the burden of finding solutions. Recently, FreightWaves has received numerous…