The collapse of Maryland’s Francis Scott Key Bridge Tuesday after it was struck by a cargo ship continues to block access to the Port of Baltimore and could disrupt shipping flows across the U.S. The Singapore-flagged MV Dali container ship collided with the bridge around 1:35 a.m. on Tuesday. At least six people remain unaccounted for,…
WASHINGTON — President Joe Biden on Tuesday called for an all-out federal effort to respond to the Francis Scott Key Bridge collapse in Baltimore, including paying to get it rebuilt. “It’s my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort,”…
RXO has carried an investment-grade rating from Moody’s Investors Service since the fall of 2022, when the 3PL was spun off from XPO (NYSE: XPO). But it is now under threat as Moody’s has changed its outlook on RXO (NYSE: RXO) to negative from stable. At the same time, Moody’s affirmed that initial investment-grade rating…
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday morning after a container ship collided with it, sending people into the water and creating a tense scene as search-and-rescue crews attempted to locate them. The bridge plays an important role in commercial shipping access to the Port of Baltimore, a hub for vehicles, light…
Drop-and-hook services have become increasingly sought-after, meeting the evolving needs of shippers for flexible transportation solutions while also offering carriers enhanced efficiency and earning potential. Uber Freight’s drop-and-hook capacity solution, Powerloop, has seen explosive growth, with more than 10,000 carriers servicing more than 220,000 loads to date. In 2023 alone, the capacity program experienced a…