The March 26 collapse of the Francis Scott Key Bridge in Baltimore has significantly disrupted U.S. East Coast supply chains. However, ocean freight container shipping rates have remained relatively stable, according to Xeneta, an ocean freight rate benchmarking and intelligence platform. Xeneta’s data reveals that average spot rates from the Far East to the East…
Norfolk Southern announced Tuesday that it has agreed to pay $600 million to settle a class-action lawsuit after a 2023 train derailment in East Palestine, Ohio, caused a fire and spilled chemicals. The agreement, if approved by a court, will resolve all class-action claims within a 20-mile radius of the derailment site and personal injury…
In the world of news, disasters and wars garner headlines for a while, which fuels anxiety and, as a result, increases supply chain uncertainty and freight rates. But after a certain point, once the news cycle exhausts the angles and the disruption is part of the norm, it becomes part of the background noise. Society…
Loadsmart and SONAR have worked together for years to improve pricing accuracy and optimize freight procurement. The initiative started in 2020 as a way to help shippers and carriers better understand market rates and move away from the guessing game that comes with blindly using load boards. Today, Loadsmart continues to grow its solutions for…
Platform Science, a provider of connected vehicle solutions, announced on Tuesday a significant milestone in its growth journey, securing $125 million in funding aimed at bolstering its presence in the commercial trucking sector. Participating in this round are existing investors 8VC, NewRoad Capital Partners, and Prologis Ventures (NYSE:PLD), joined by new backers Activant Capital, Manhattan…