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Prologis’ Q1 report, full-year guidance largely in line
Logistics warehouse owner Prologis said Tuesday it continued to see strong trends to start the year even as the macroenvironment has begun to cool. Prologis (NYSE: PLD) reported first-quarter core funds from operations (FFO) of $1.22 per share before the market opened. The result was in line with the consensus estimate and 13 cents higher…
Shipping fallout from Red Sea crisis spreads to product tankers
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,…
Chicago-based Coyote Logistics cuts sales, operations jobs
Chicago-based freight brokerage Coyote Logistics confirmed Friday that it has slashed a number of jobs in its sales and operations divisions, but it declined to disclose the number of employees affected or the percentage of the company’s workforce that was part of the layoffs. The move comes nearly a month after Coyote Logistics, a subsidiary…
FreightWaves Infographics: US-Mexico trade rises to $67B in February
To view more FreightWaves infographics, click here The post FreightWaves Infographics: US-Mexico trade rises to $67B in February appeared first on FreightWaves.
Three tools shippers, carriers cannot afford to miss out on
In recent years, digital freight marketplaces (DFM) have changed the way the logistics industry operates. Not too long ago, shippers had no choice but to rely on traditional methods like phone calls, emails, and spreadsheets to conduct business. Now, shippers and carriers alike can complete an entire freight movement using only their smartphones. This quick…
Bankrupt cargo airline Western Global owes millions to Delta, Lufthansa
Western Global Airlines acquired more aircraft under the mistaken belief the bull rush in air cargo during the pandemic would continue, leading to a cash crunch, defaults to vendors such as Delta Air Lines and, ultimately, to Monday’s filing for federal bankruptcy protection, according to court documents. The Estero, Florida-based freighter operator will use $15.7…