Thursday, August 14, 2014
In recent weeks, many well-known carriers, including Swift Transportation, Con-way Truckload and US Xpress are making a full-on press regarding increasing driver wages in an effort to secure more capacity and keep their wheels moving, as well as to prevent driver turnover at a time when it is becoming more difficult to recruit and retain drivers.
In recent years, transportation and logistics titans UPS and FedEx have only been able to provide domestic delivery service in China on a limited basis. But a Reuters report is signaling that is changing, saying that both companies now have obtained licenses from the Chinese government to extend domestic express package services to Beijing and other Chinese cities and not have to rely on joint-venture partners to deliver packages within China.
Posted on 08/14 at 08:59 AM
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
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 •