Wednesday, August 13, 2014
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
Many graduates are accepting higher starting salaries than finance and accounting majors.
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.
In the unlikely event, you have not heard it before, we will repeat it again: the United States Postal Service (USPS) lost money last quarter. Just to clarify, that is in regards to the fiscal third quarter of this year, but it also applies to 21 of the last 23 quarters in which the USPS has recorded a loss, stretching a span of nearly six years of mostly dark times.
Posted on 08/11 at 10:23 AM