As major container shipping lines consistently bypass the Red Sea to avoid the threat of rebel missile attacks, air cargo volumes are finally getting a boost. Preliminary data now backs anecdotal reports a month ago of businesses shifting some Asia exports for Europe and North America to air transport as a way of avoiding delays….
Management from Knight-Swift Transportation sees weak demand carrying through the first quarter with hopes of normal sequential improvement by spring. The company announced worse-than-expected fourth-quarter results on Thursday as slightly favorable trends to start the period turned sour in the closing weeks. Knight-Swift (NYSE: KNX) reported a headline net loss of 7 cents per share…
Canadian National Railway Co. (CN) on Tuesday reported revenue of CA$3.28 billion ($2.4 billion) in the fourth quarter and adjusted earnings per share of CA$2.02. CN (NYSE: CNI) beat analysts’ expectations of EPS of CA$1.99 and revenue of CA$3.25 billion. For the year, the company reported revenue of CA$12.47 billion and profit of CA$4.17 billion,…
Paccar Inc. CEO Preston Feight could be forgiven for taking a victory lap celebrating the truckmaker’s 85th consecutive year of net profits. No forgiveness needed. The company’s leader since 2019 declined to brag. That’s not the Paccar way. Humility, consistency and conservatism rule the day in Bellevue, Washington, where suit and tie is common attire…
With no end in sight for the Red Sea crisis, detours around Africa’s Cape of Good Hope are soaking up even more vessel capacity and pushing up spot rates across multiple shipping segments. Freight fallout began with container ships. It is now significantly impacting product tankers — the vessels that transport gasoline, diesel, jet fuel,…