Freight shipments and expenditures continued to fall in January, according to data compiled in the Cass Freight Index. The Thursday report showed shipments were down 7.6% year over year (y/y) during the month and were 3.5% lower than in December. Adjusting for seasonality, shipments were flat with the prior month. The index stood at the…
Two Boeing 747-8 freighters recently purchased from Qatar Airways won’t join the UPS fleet for nearly a year. The move comes even as UPS adjusts its air network to align with lower volumes. Chief Financial Officer Brian Newman disclosed on the company’s Jan. 30 earnings briefing that UPS (NYSE: UPS) acquired the large cargo jets…
The Port of Los Angeles’ January import numbers highlight that the inventory glut of 2022 and early 2023 is largely in the rearview mirror. The port experienced the second-best January on record, surpassed only by January 2022, which was fueled by pandemic-related spending. The port handled 855,652 total TEUs during January, eclipsing last year’s mark…
Two owners of a Utah trucking group were recently convicted for their roles in an elaborate, 10-year pay-to-play fraud scheme that siphoned more than $108 million from FedEx Ground. On Feb. 2, a federal jury in the U.S. District Court for the District of Utah convicted Yevgeny Felix Tuchinsky, 63, and Konstantin Mikhaylovich Tomlin, 54,…
Long-standing practices for feeding chassis into intermodal markets have been dealt another blow in legal proceedings before the Federal Maritime Commission. In a 4-1 vote Tuesday, the FMC upheld an administrative law judge’s (ALJ) ruling from just over a year ago that the current system of major oceangoing carriers designating exclusive chassis providers for port-to-port…