Less than a month after taking a billion-dollar stake in railroad Norfolk Southern Corp. (NYSE: NSC) and vowing to oust CEO Alan Shaw, activist group Ancora Holdings Group on Tuesday proposed a new slate of directors at Norfolk Southern, as well as a new CEO, former UPS Inc. executive Jim Barber. Ancora has also proposed…
2023 was a challenging year for ocean carriers, especially those that have spot exposure. They have seen significant slashes to revenue and profitability. Zim Integrated Shipping (NYSE: ZIM), a carrier with more spot exposure than some of the other large ocean carriers, saw a 61% year-over-year reduction in third-quarter revenue, and earnings before interest and…
The top three carrier expenses are fuel, maintenance and insurance – things that are crucial to the success of a trucking company but that have seen a drastic uptick in cost the past few years. A new law in New Jersey stands to dramatically increase the insurance cost for carriers. Joe Schreiner, Reliance Partners’ executive…
Expeditors International’s slide in volume continued in the fourth quarter but showed improvement by the end of the period. Expeditors (NYSE: EXPD) does not disclose actual volumes in its quarterly earnings report. But the air- and ocean-focused brokerage and forwarder does provide volume changes from the year-ago period. In North America, airfreight as measured in…
In the e-commerce shipping sector, the efficient use of time can significantly impact business success. In an industry where time often equals money, moving goods quickly and reliably is crucial for customer retention and cost optimization. In an effort to address some of the frequent pain points of small parcel shippers, Delta Cargo and SmartKargo…