This year’s peak shipping season could be anemic, and arrive later than normal, as merchants remain shy about pulling the trigger on new import orders even after clearing out excess inventory, freight transportation providers are realizing. Executives at Seko Logistics said during a virtual briefing with reporters on Monday that customers across industries, including fashion,…
Financially ailing commercial electric pickup truck maker Lordstown Motors is trading one share of stock for 15 existing shares. The reverse split should get its share price above $1 and reduce the chance it will be delisted from the Nasdaq. But longer-term questions around the startup’s viability remain. Foxconn, the Taiwanese electronic components maker, is…
Canadian Waste Management has been fined $50,000 for failing to better protect a worker who was injured in December 2020 while reaching into the hopper of a waste collection truck […]
The logistics industry is plagued by several different types of fraud – from rate manipulation to straight-up cargo theft. The more volatile and opaque market conditions become, the more opportunities scammers have to take advantage of unsuspecting companies. This is especially true when it comes to double brokering. Double brokering occurs when an actual carrier,…
Bed Bath & Beyond, now in Chapter 11 bankruptcy, insists it was a victim of shipping line greed amid the supply chain crisis. It filed a high-profile complaint with the Federal Maritime Commission (FMC) on April 27 against Hong Kong-based shipping line OOCL, seeking at least $31.7 million in compensation. District court documents reveal Bed…