Kenan Advantage Group acquires plastic resins hauler

Kenan Advantage Group (KAG) said Monday it has acquired Northern Dry Bulk for an undisclosed amount. Clare, Michigan-based Northern Dry Bulk primarily hauls and stores plastic resins used in the automotive, packaging and electronics industries. The carrier serves the U.S. and Canada out of two terminals with a fleet of 36 tractors and 91 trailers….

Despite dim outlook, January imports grew at fastest pace in 7 years

With geopolitical tensions rising around the Suez Canal and water levels dropping at the Panama Canal, one could be forgiven for expecting U.S. imports to fall in January. But, according to new data from Descartes, they were shockingly robust. The U.S. imported 2,273,125 twenty-foot equivalent units of containerized goods in January, up a surprising 7.9%…

RXO looked to be avoiding the worst of the freight market, but no more

When RXO came out with its first-quarter earnings for 2023, its performance was clearly superior to those of its brokerage peers, and it looked like the company might have found the magic sauce to handle a weak freight market. But the latest quarterly report from the stand-alone 3PL had landed with a thud, a declining…