Supply chain software provider Descartes said demand from its customer base of logistics service providers improved as its fiscal first quarter progressed. The Canada-based company said international ocean container shipments are strengthening and benefiting from higher pricing due to disruptions in the Red Sea and Panama Canal. It expects the higher ocean shipments to eventually…
Northern Air Cargo will furlough 18 pilots as a result of its recent decision to close down the route between Los Angeles and Honolulu operated on behalf of sister airline Aloha Air Cargo, according to a company official. FreightWaves reported three weeks ago that Aloha Air Cargo would stop the freighter service from Los Angeles…
Ratings agencies now have taken a scalpel to three logistics companies in the past two weeks, with a debt downgrade of 3PL RXO by S&P Global Ratings joining similar actions impacting C.H. Robinson (NASDAQ: CHRW) and Forward Air (NASDAQ: FWRD). It’s been 11 months since S&P Global Ratings gave RXO (NYSE: RXO) a stable outlook…
Atlas Air will stop flying freighter aircraft for Amazon in the online retailer’s parcel network over the next year, and 25 aircraft controlled by Amazon will gradually be relocated to other operators, according to company pilots who posted about the changes in chat rooms and one who spoke with FreightWaves. The decision to discontinue flight…
The flow of trade will always find a way to circumvent risk. It has to. Trade at rest is not making money. The freedom of navigation lifts the global economy. It also comes with massive risk that in the end governments and industry pay for. The waterway superhighway has been altered many, many times to…