Yellow Corp. said Tuesday it has approved Teamsters selection David Webber to serve on its board of directors. As a holder of the company’s series A preferred stock the union is allowed to hold two board seats. Webber is a law professor at Boston University and an expert in pensions, shareholder activism and litigation, according…
The signals have been flashing curiously green in container shipping of late. Spot rates are up. Charter rates and durations are up. Secondhand ship sales are brisk and asset prices are rising. Idled tonnage is down. Carriers are not sending many older vessels for demolition. The warning Tuesday from leading container shipping consultancy Drewry: Those…
FreightWaves Classics is sponsored by Old Dominion Freight Line — Helping the World Keep Promises. Learn more here. FreightWaves explores the archives of American Shipper’s nearly 70-year-old collection of shipping and maritime publications to showcase interesting freight stories of long ago. In this edition, from the May 1974 issue of American Shipper, FreightWaves revisits an article…
Five years ago, air cargo in Chicagoland was the near-exclusive province of O’Hare International Airport. Now four airports ringing the southwestern shore of Lake Michigan are all investing to support anticipated demand from companies that rely on air transport to move goods faster. The latest installation spreading its cargo wings is Gary/Chicago International Airport (GCIA),…
One quarter into the year, and it’s clear this will be a tussle for CEO Carol Tomé & Co. When the year started, UPS Inc. (NYSE: UPS) put its full-year projections into two buckets: One with flat average daily volumes, and a negative scenario of 5% or less average daily volume declines. The results released…