Short line rail operator Genesee & Wyoming (G&W) announced Tuesday that Grupo Mexico Transportes (GMXT) will become its partner in CG Railway LLC, a rail car-ferry operation linking ports in the U.S. and Mexico. GMXT is purchasing Seacor Holdings Inc.’s stake in CG Railway. Seacor and G&W initially formed the joint venture in 2017 to…
After an eight-week run of falling prices was interrupted a week ago by an increase, the weekly diesel benchmark price used for most fuel surcharges has moved down again. In a price posted Tuesday but dated Jan. 1, the average weekly retail diesel price posted by the Department of Energy/Energy Information Administration declined by 3.8…
Maersk, the world’s second-largest ocean carrier, gambled that a U.S.-led military force, Operation Prosperity Guardian, would allow safe passage through the Red Sea. That gamble has failed. On Tuesday, Maersk said it will suspend Red Sea transits indefinitely and reroute ships around Africa’s Cape of Good Hope. The decision followed attacks on the container ship…
UPS Inc. said it will close its daytime package sorting operations at its Centennial ground hub in Louisville, Kentucky, on Feb. 16, citing reduced volumes. In a statement, the Atlanta-based company (NYSE: UPS) said that “packages equal jobs, and we need to match capacity and the number of jobs with current package volume.” The statement…
Transportation metrics slid again in December with capacity increasing at a faster pace and prices declining at a higher rate, according to a monthly survey of supply chain executives. However, there was some optimism that the cycle may turn in the new year. The Logistics Managers’ Index (LMI) registered a 63.3 reading for transportation capacity…