Struggling freighter operator Amerijet International will close its small shipping station in Atlanta at the end of March in the latest attempt to reduce costs amid mounting financial losses driven by a prolonged downturn in freight markets and the end of some key contracts. The Miami-based cargo airline will shutter the warehouse it operated a…
Similar to other less-than-truckload carriers, XPO saw a notable year-over-year (y/y) improvement in volumes in February when compared to January. In a Tuesday update following the market close, the carrier said tonnage grew 3.5% y/y in February as a 5.8% increase in shipments was partially offset by a 2.2% decline in weight per shipment. The…
The sparring over the future of Norfolk Southern continues, with the railroad offering a detailed defense of its operations alongside a critique of Ancora Holdings’ recently renewed call for a quick change in management following a derailment late last week. In the middle of the maelstrom at Norfolk Southern (NYSE: NSC), a leading Wall Street…
Old Dominion Freight Line reported a modest improvement in metrics during February but said market conditions “continue to reflect softness in the domestic economy.” The less-than-truckload carrier saw revenue per day increase 1.2% year over year (y/y) during February, following a 2.7% decline in January. Tonnage was down 3% as a slight increase in shipments…
In a rare instance of internal board of directors disagreements jumping into public view, a director at Werner Enterprises has resigned, citing in part the truckload carrier’s “unquestioned dedication to ESG [environmental, social and governance] considerations as a primary strategy.” Vikram Mansharamani’s resignation came before he faced the likelihood of not being be reelected to…