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Wednesday, August 13, 2014
Commerce reported that July retail sales at $439.8 billion were flat compared to June and up 3.7 percent compared to July 2013, and NRF said that July retail sales, which exclude automobiles, gas stations, and restaurants, were up 0.1 percent annually and up 4 percent on an annual unadjusted basis.
Coming off of a particularly strong June, freight transportation market conditions tapered off somewhat in July, according to the most recent edition of the Cass Freight Index Report from Cass Information Systems that was issued this week.
Revenue was up 6 percent compared to the first quarter at $1.978 million and down 4.2 percent annually, and adjusted EBITDA was up 40 percent compared to the first quarter at $60 million, and was down 25 percent annually. Quarterly EBITDA was lower annually, due to the company’s Freight Management group revenues being negatively affected by lower market rates.
Posted on 08/13 at 08:21 AM
Global Logistics •
Tuesday, August 12, 2014
In echoing what has become a common refrain in recent months, the monthly Port Tracker report from the National Retail Federation (NRF) and maritime consultancy Hackett Associates continues to call for increased import activity at United States-based retail container ports.
RRTS said yesterday it has entered into a definitive merger agreement to acquire Belleville, Mich.-based Active Aero Group, a provider of ground and air expedited services through its proprietary TMS, for roughly $115 million, with the acquisition expected to close by the end of September.
Posted on 08/12 at 08:33 AM
The average price per gallon of diesel dropped 1 cent to $3.843 per gallon, which is the lowest price since hitting $3.844 the week of November 25, 2013.
Posted on 08/12 at 07:29 AM
Diesel Prices •
Monday, August 11, 2014
Strong mid-year results disguise patchy regional performance
The current shortage of officer corps seafarers is forecast to worsen and risks impacting ocean cargo carrier profitability, according to Drewry’s recently published Manning 2014 Annual Report.
As has been the case for several months, heavy spot market activity remains prevalent in the freight transportation market, with July turning in another strong performance, according to recent data published by Portland, Oregon-based freight marketplace platform and information provider DAT.
Posted on 08/11 at 09:12 AM
Spot Market •
Friday, August 08, 2014
For the quarter, PwC said there were 51 transportation and logistics transactions values at $50 million or more for a total of $20 billion, which was ahead of 38 deals for a cumulative $16.2 billion recorded during the first quarter and the 39 deals valued at a cumulative $16.b billion in the second quarter of 2013.
Posted on 08/08 at 11:11 AM