Container shipping stocks outperform despite market gloom

Shipping stocks have a long tradition of defying expectations. At the beginning of 2023, sentiment was ebullient on crude tanker and product tanker shares. The word “supercycle” was bandied about. Global fuel demand was bouncing back from COVID, sanctions on Russia were inflating voyage distances, and the ratio of tanker tonnage on order to tonnage…

Union Pacific expanding utility role to be more responsive to train movements

Union Pacific is expanding the utility role so that the position responds to situations occurring on the rail network. This expanded role would work on a fixed schedule and be dispatched in a truck to respond to planned and unplanned events along the mainline, UP told FreightWaves in a statement. The utility position is typically…

Truckstop acquires truckload procurement platform FreightFriend

Truckstop announced Tuesday it has acquired FreightFriend, a cloud-based capacity and freight management solution that matches shipments to carriers. The acquisition gives Truckstop a technology platform for freight matching and building routing guides for shippers and brokers. Truckstop will utilize FreightFriend’s technology to deliver solutions for in-network and out-of-network relationships in one centralized experience for…