Federal regulators have relieved drayage truckers from late-fee bills associated with picking up and returning cargo containers, while inadvertently — and unfairly — shifting the burden onto shippers, a major shipper group contends. The Federal Maritime Commission’s rule on demurrage and detention, issued last week, imposed new billing standards on ocean carriers and terminal operators…
Forward Air missed fourth-quarter expectations Wednesday after the market closed, however, investors and analysts are likely more interested to hear updates on financial targets and the new management structure following the closing of a messy merger with Omni Logistics. Forward (NASDAQ: FWRD) finally closed on the acquisition of Omni Logistics last month after it attempted…
A cluster of wildfires that began on Monday in the Texas Panhandle forced thousands to flee their homes, while also making travel difficult for truckers and motorists. Texas authorities temporarily closed Highway 136 between the Borger and Amarillo Tuesday, but the roadway was reopened Wednesday. Interstate 40 near Amarillo remains open, but authorities have urged…
Freightos, a neutral sales platform for international air and ocean shipments, expects to make its first profit in the fourth quarter of 2026, company leadership said Monday after posting an adjusted loss of $19 million for 2023. The results follow losses of $14.6 million and $12.4 million in 2022 and 2021, respectively. In July, Freightos…
Marine logistics software provider OpenTug announced Friday it has raised $3.1 million in a seed round led by Entrada Ventures with participation by SpringTime Ventures and Stout Street Capital to enhance its technology, expand its sales initiatives and grow its network of United States marine operators. Since its founding in 2019, the company has raised…