Topic: News

YRC earned $4.3 million on $1.15 billion revenue in the first quarter, compared with a net loss of $49.1 million on $1.18 billion revenue in the year-ago quarter. Without the asset sales, however, YRC would have suffered a $35 million pre-tax loss.

The on-again, off-again, on-again push for greater infrastructure spending is now off again. Senate Majority Leader Mitch McConnell, R-Ky., put the kibosh on the latest push for what President Donald Trump once dreamed would be a “big and bold” infrastructure push during his term.

In addition to the current economic issues caused by COVID-19, there are other significant events in 2020, such as the U.S. presidential election and the United States-Mexico-Canada Agreement (USMCA) implementation, which could directly affect international trade.

Cathy Morrow Roberson, Founder & Head Analyst for Logistics Trends & Insights LLC – a boutique market research firm that specializes in global supply chains – recently shared her observations on the current state of the global and domestic Third-Party Logistics (3PL) industry in this exclusive interview.

Heavy declines for imports at United States-based retail container ports, due to the ongoing COVID-19 pandemic, are expected to continue in the coming months, according to the new edition of the Port Tracker report, which was issued today by the National Retail Federation (NRF) and maritime consultancy Hackett Associates.

Quarterly revenue—at $17.8 billion—headed up $348 million on an annual basis. But, despite the revenue gain, volume declined, falling 2.3% to 34,013 total pieces, and total operating expenses—at $22.3 billion—were up$2.8 billion, or 14.2%.

U.S. rail carloads in April—at 980,535—were off 25.2%, or 329,693 carloads, annually, and intermodal containers and trailers—at 1,095,423—slipped 17.2%, or 227,165 units.

The United States Postal Service (USPS) announced that it has named Louis DeJoy as its 75th Postmaster General and CEO. DeJoy will be replacing Megan Brennan, whom has been serving in the position since 2015, and will take over on June 15. The incoming USPS chief will be the fifth Postmaster General to come over from the private sector, going back to when the USPS, in 1971, became an independent establishment within the Executive Branch.

Cathy Morrow Roberson, Founder & Head Analyst for Logistics Trends & Insights LLC – a boutique market research firm that specializes in global supply chains – recently shared her observations on the current state of the global and domestic Third-Party Logistics (3PL) industry in this exclusive interview.

Preliminary North American Class 8 truck orders saw steep declines, driven on by the impact of COVID-19, or coronavirus, according to recent data issued respectively by freight transportation consultancy FTR and ACT Research, a provider of data and analysis for trucks and other commercial vehicles.

The CBA said that the objective of the CISCC is to advance uniform national policies that will strengthen United States supply chains and also ensure the timely flow of critical goods in various ways.

Logistics Management Group News Editor Jeff Berman recently caught up with Walter Kemmsies, economist and chief strategist for industrial real estate firm JLL. Their wide-ranging conversation covered various topics, including: the impact of COVID-19 on logistics and supply chain operations, inventory management shifts, and why now is a great time to be in industrial real estate, among others.

U.S. firms in China say business is gradually returning to normal, but lower revenues and delayed payments are leading to changes in both short-term and long-term strategies.

​In an odd example of unintended consequences, the U.S. government still is collecting as much as 25% tariffs from Chinese manufacturers on face masks and other protective wear for U.S. health care workers on the front lines of fighting the COVID-19 pandemic.

Logistics Management’s Jeff Berman recently caught up with Jonathan Gold, NRF Vice President, Supply Chain and Customs Policy, about the Port Tracker Report and related retail supply chain developments.

A sprawling vessel service begins this week with 18 megaships linking the Port of Oakland to Asia, including Saudi Arabia. A highlight of the new service: the first-ever direct link between Oakland and the Middle East.

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, recently introduced the COVID-19 Impact Index, a new resource - based on client feedback - that addresses the urgent needs of business leaders to better understand the real-time impacts of the pandemic on companies and their network of suppliers and shippers.

First quarter earnings released yesterday by XPO Logistics, a Greenwich, Conn.-based provider of global freight transportation and logistics services, saw annual declines. Revenue—at $3.86 billion—was down 6.3%, and net income attributable to common shareholders—at $21 million—fell 51.2%. Operating income—at $81 million—was down 61.4%. Diluted earnings per share came in at $0.20 compared to $0.37 a year ago, and adjusted quarterly EBITDA—at $333 million—was off 3%.

The report’s key indicator, the NMI, fell 10.7% to 41.8 (a reading of 50 or higher indicates growth is occurring), coming off of March’s 52.5 reading, which stands as the highest reading in the last year. It is the lowest reading since the 40.1 recorded in March 2009 and contracted for the first time since December 2009, halting a 122-month stretch of growth.

Total first quarter volume—at 4,177,989 units—dropped 6.7% compared to the first quarter of 2019. Domestic containers—at 1,862,499—was the lone bright spot, rising 2.2%, while trailers saw a steep decline, down 22.3%, to 257,805. All domestic equipment—at 2,120,304—was off 1.8%. ISO, or international, containers, were down 11.3%, to 2,057,685.