FedEx has parked 17 more freighter aircraft since November and relinquished options to buy seven Boeing 767 cargo jets, part of a multiyear cost initiative that helped the parcel titan to better-than-expected operating profit in the third quarter despite lower revenue. Besides being cautious with aircraft utilization and investments, the Express unit expects to increase…
Norfolk Southern has set May 9 as the date for its annual meeting, when an insurgent campaign to put outside directors on the company’s board and a new CEO in place will come to a head. The Class 1 railroad formally set the date in its proxy letter to shareholders, sent last week. The meeting…
The Gulf Coast ports have received a lot of attention in recent years and rightfully so. The ports along the Gulf Coast provided a pressure relief valve of sorts, though they suffered with congestion throughout the pandemic as well. What separates the Gulf Coast ports from the major East and West Coast ports is the…
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Echo Global Logistics grows cross-border footprint as trade booms; Maersk launches cross-border warehouse in Tijuana; Yokohama announces $380M tire plant in Mexico; and Legendz Way to open distribution center in North Texas. Echo Global Logistics grows…
Chart of the Week: Import Ocean TEUs Index – China to Mexico, China to USA SONAR: IOTI.CHNMEX, IOTI.CHNUSA Import bookings have doubled from China to Mexico compared to the same period in 2019, with the bulk of the increase coming in the past year. By contrast, import bookings from China to the U.S. are up a…