In a race to lure jumbo cargo ships up the Mississippi River, Plaquemines Port Harbor and Terminal District has signed a preliminary deal with APM Terminals to build a 900-acre container terminal about 20 miles south of the Port of New Orleans. Under terms of the agreement, Plaquemines Port will lease the land to APM…
Market leader Daimler Truck grew sales by a scant 1% in 2023. It blamed supply chain bottlenecks for missing its higher goals. Daimler reports full-year financials on March 1 and expects to meet its revenue and profit metrics. Group sales, which include Portland, Oregon-based Daimler Truck North America, amounted to 526,053 units. That compared with…
Year-over-year (y/y) declines in freight shipments and spend continued to taper during December, according to data compiled in the Cass Freight Index. December shipments outperformed normal sequential seasonal changes, up 2.1% seasonally adjusted. That followed a 0.3% sequential increase in November. Compared to a year ago, volumes captured by the data set were off 7.2%,…
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Canada-based Cargojet announced Monday it has abandoned plans to add four Boeing 777 converted freighters because of lackluster demand for international shipping service so it can concentrate on using profits to reward shareholders and strengthen its balance sheet. A statement by the Toronto-based airline suggesting it is canceling the order appeared at odds with the…