OnTrac and LaserShip formally announced late Friday plans to rebrand into what may presumably be the more familiar and easier-to-pronounce “OnTrac” name. Separately, the rebranded firm, which had been known as LaserShip-OnTrac, finalized plans to enter the Texas market with service to Austin, San Antonio, Houston and Dallas. The expansion, which is set to start…
Early numbers on the first quarter are starting to trickle in from container shipping lines. They show a big step down from the fourth quarter, but they also confirm that earnings are still well above the pre-COVID “normal.” Spot rates in the trans-Pacific eastbound market have collapsed, yet carriers continue to be shielded by annual…
Electric delivery van manufacturer Arrival could get a new financial lease on life via a second special purpose acquisition company merger. Experts say second-chance SPACs do occur, but they are rare. The merger between Luxembourg-based Arrival and Kensington Capital Acquisition Corp. V was announced after markets closed on Thursday. Kensington previously sponsored SPAC mergers with…
Quarterly earnings for rail car manufacturer Greenbrier got a boost from higher revenue in all three of its operating segments, according to a Monday release discussing financial results for the company’s second fiscal quarter, which ended Feb. 28. The Lake Oswego, Oregon-based company reported adjusted basis net earnings of $34 million, or 99 cents per…
Hours-of-service violations are fairly easy to detect on a driver’s log. After all, ELDs are designed to keep track of drivers’ hours and will flag instances when they exceeded their allotted driving time. However, just because the ELD system did not detect an HOS violation doesn’t mean it’s not there, concealed by log falsification. The…