With geopolitical tensions rising around the Suez Canal and water levels dropping at the Panama Canal, one could be forgiven for expecting U.S. imports to fall in January. But, according to new data from Descartes, they were shockingly robust. The U.S. imported 2,273,125 twenty-foot equivalent units of containerized goods in January, up a surprising 7.9%…
When RXO came out with its first-quarter earnings for 2023, its performance was clearly superior to those of its brokerage peers, and it looked like the company might have found the magic sauce to handle a weak freight market. But the latest quarterly report from the stand-alone 3PL had landed with a thud, a declining…
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Air cargo volume growth at the end of 2023 has carried over into a normally quiet shipping period for reasons that include retailers finally rebuilding inventories, an early Chinese New Year, flower demand for Valentine’s Day and longer ocean transits as vessels avoid the Red Sea shortcut from Asia because of rebel attacks. Demand grew…
A going concern bid for the remaining assets of bankrupt Yellow Corp. appears to be back on the table. A ballot sent to local union heads asks members to agree to settle their WARN Act claims against Yellow with the acquiring company, Next Century Inc. The plan would swap the claims for equity in the…