Thursday, November 04, 2010
Global real estate firm Jones Lang LaSalle (JLL) noted in a recent research report that even through the economic downturn has lowered global cargo levels, as well as lower demand for logistics space around United States airports, airport real estate is potentially well-positioned for future growth.
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was up 25.3 percent in August 2010 compared to August 2009, increasing to $68.0 billion, according to data released by the United States Department of Transportation’s Bureau of Transportation Statistics (BTS).
Wednesday, November 03, 2010
FedEx announced earlier today that its FedEx Express subsidiary will acquire the logistics, distribution, and express businesses of India-based AFL Pvt. Ltd. and its affiliate Unifreight India Pvt. Ltd. Financial terms of the deal, which is expected to close by February 2011, were not disclosed.
The Institute of Supply Management’s (ISM) Non-Manufacturing Report on Business for October continued the momentum it showed in September. The ISM’s index for measuring the sector’s overall health—known at the NMI—was 54.3 in October, a 1.1 percent gain from September.
Tuesday, November 02, 2010
UPS announced that new rates will kick in, effective January 3, 2011. Company officials said that 2011 rates will include a net increase of 4.9 percent for UPS ground packages and a net increase of 4.9 percent on all air express and U.S. origin international shipments.
Following the recent attempt by terrorists to send explosives to the United States on cargo and passenger planes, Massachusetts Representative Edward J. Markey (D) said he plans to introduce legislation requiring 100 percent screening of all cargo on cargo planes.
Coming on the heels of the ratified labor agreement by Teamsters employees at less-than-truckload (LTL) transportation services provider YRC Worldwide (YRCW), LTL player ABF Freight Systems announced it is taking legal action against the International Brotherhood of Teamsters and various YRCW subsidiaries, as well as other entities.
The average price per gallon of diesel gasoline remained above the $3 per gallon for the fifth straight week, according to data released this week by the Department of Energy’s Energy Information Administration.
Monday, November 01, 2010
Coming off of September which showed a nearly 2 percent sequential decline, the most recent edition of the Institute of Supply Management’s Manufacturing Report on Business showed signs of improvement in October.
Following two straight months of growth, the October edition of the Cass Information Systems Freight Index fell in October.