Logistics
For the commercial transportation business, moving things from point A to point B is job one. This coverage explores all of those movements at a global level and focuses on everything from global trade, ocean shipping, and port activity to intermodal business, rail operations and the greater supply chain.
LNG Ships Divert to Europe on Wider War Fears
Liquefied natural gas cargoes are diverting away from Asia to Europe after fears of a wider war in the Middle East sent benchmark Dutch prices rallying.
STG Logistics Cuts Debt Deal That Upends Creditor Ranks
Oaktree Capital Management-backed STG Logistics reached a deal with a group of lenders that overhauls its debt stack and allows them to jump ahead of peers in the repayment priority line.
Maersk Expects IMO to Approve Global CO2 Levy in 2025
Shipping giant A.P. Moller-Maersk A/S expects the industry’s global regulator next year to approve a charge on vessels’ greenhouse gas emissions.
Global Shipping Stocks Sink After Dockworkers Pause Strike
Shipping stocks slumped worldwide after a strike by U.S. dockworkers was suspended after only three days, spurring predictions of a decline in the price of transporting goods by sea.
October 4, 2024Cargo Theft Experts Warn of Peak Season Fraud
The trucking industry expects an uptick in cargo theft activity, related to peak shipping season, on top of already elevated conditions, experts warned.
Port Strike Sparks High Demand for Toilet Paper at Retailers
During visits to Costco stores in northern New Jersey, Oppenheimer analyst Rupesh Parikh said his team “observed behaviors similar to the start of the pandemic.”
DSV Starts $5.5 Billion Share Sale for DB Schenker Takeover
DSV received commitments from investors for more than half of a $5.5 billion sale of new shares as the Danish freight-forwarding company finances its takeover of DB Schenker.
Biden Urges Dockworkers, USMX to Resume Talks
President Joe Biden ratcheted up pressure on U.S. port employers and shipping lines to restart talks with striking dockworkers, warning that the unfolding strike could turn into a “man-made disaster.”
IANA Appoints Anne Reinke as New President and CEO
Reinke will officially step into the role at the end of the year, succeeding Joni Casey, who is retiring after 27 years of service.
October 3, 2024Amazon, Target and Other Retailers Ramp Up Holiday Hiring
Retailers are ramping up hiring for the holiday season, but fewer seasonal employees are expected to be taken on this year to help customers in stores and assemble online orders in warehouses.