Tuesday, February 02, 2016
UPS finished 2015 in solid fashion, with strong fourth quarter earnings results. Fourth quarter revenue at $16.1 billion was up 1 percent annually, and earnings per share were up 26 percent at $1.57, marking the fourth straight month of EPS growth. For all of 2014, EPS was up 14 percent annually at $5.43, which was an all-time high. Total operating profit also set a new record, up 54.3 percent at $7.7 billion.
Posted on 02/02 at 10:03 AM
UPS Freight •
Monday, February 01, 2016
The Institute for Supply Management (ISM) reported today that manufacturing activity again contracted for the fourth straight month.
Posted on 02/01 at 01:24 PM
ATA reported that the annualized turnover rate for large truckload carriers, which it defines as truckload fleets with more than $30 million in revenue, headed up 13 percent to 100 percent from the second quarter to the third quarter, representing the highest level it has hit in the last three years.
Posted on 02/01 at 11:18 AM
driver turnover •
Third-party logistics and freight transportation services provider XPO Logistics said late last week that it has commenced a workforce reduction for its less-than-truckload (LTL) unit, which it acquired from Con-way, when XPO acquired Con-way last year.
Posted on 02/01 at 09:47 AM
XPO Logistics •
Friday, January 29, 2016
Class I railroad carrier Norfolk Southern this week released additional information on its strategic plan, which it said is geared to streamline operations and drive profitability and growth on various fronts. NS officials said its projected expense reduction and cost control efforts will be focused in a few specific areas, including compensation and benefits, purchased services and rents, materials, and fuel. The company initially introduced the plan on December 4, 2015.
The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that that U.S. trade with its North America Free Trade Agreement (NAFTA) partners Canada and Mexico fell 8.4 percent to $88.2 billion in November 2015, with all modes of transportation having a lower freight value compared to the same period in 2014.
Posted on 01/29 at 08:47 AM
Carloads fell considerably, falling 19.5 percent annually to 237,190, and intermodal containers and trailers were down 0.1 percent annually at 253,134.
Posted on 01/29 at 01:48 AM
Thursday, January 28, 2016
The most recent edition of the Shippers Condition Index (SCI) from freight transportation consultancy FTR issued this week points to mild market conditions. FTR describes the SCI as an indicator that sums up all market influences that affect the transport environment for shippers, with a reading above zero being favorable and a reading below zero being unfavorable and a “less-than-ideal environment for shippers.”
Posted on 01/28 at 12:00 PM
Global logistics services provider and freight forwarder C.H. Robinson said this week it has opened up a certified cargo screening facility (CCSF) for air cargo in Carson, California, which it set will screen air cargo directly, instead of relying on third party facilities. This is the company’s second CCSF. It opened its first one in Chicago in April 2012.
Posted on 01/28 at 11:20 AM
Air Cargo •
C.H. Robinson •
Wednesday, January 27, 2016
Already facing issues ranging from overcapacity, downward pricing pressure, and more brand consolidation, carriers must now confront shipper’s concerns about regulatory mandates that will likely result in more seaport congestion.