UPS continues to reduce flight activity in its air network to maximize asset utilization and improve efficiency amid deteriorating shipping volumes. Executives said during Tuesday’s earnings briefing that they are optimizing the domestic air operation and further reducing scheduled flights on the international front in an effort to curb costs. The parcel delivery giant reported…
Daimler Truck launched Rizon, a new U.S.-focused medium-duty electric truck brand, on the eve of California regulators voting whether to require fleets to purchase 5%-10% EVs beginning in 2024. The coincidental timing expands Daimler’s battery-powered portfolio to cover Class 4 to 8 trucks. The production version of the Class 6 Freightliner eM2 is expected at…
Cargo flow slipped slightly at ports in Houston and New Orleans in March but rose at the Port of Corpus Christi due to increased exports. Port Houston sees decline in monthly containers Port Houston’s total container volume dipped 3% year over year (y/y) in March to 300,589 twenty-foot equivalent units compared to the same month…
Canadian bulk carrier Trimac Transportation announced Thursday the acquisition of American Industrial Partners (AIP) Logistics. Ohio-based AIP provides bulk transportation and warehousing services for plastics and chemicals companies out of a 52-acre site in Wapakoneta, Ohio, that includes 450,000 square feet of storage. The location provides indoor rail access for transloading and moving cargoes to…
Hub Group reported first-quarter earnings per share of $1.88, 5 cents better than the analyst estimate of $1.83. But revenue for the quarter came in at $1.2 billion, versus the consensus estimate of $1.23 billion. “The market has shifted from this time last year, capacity is loose, customers are more fluid, rail services are improving,…