Logistics News

The loan comes as giant tech companies are borrowing heavily to expand the artificial intelligence infrastructure buildout.

A total of 529 tankers transited the Suez Canal in April, 28% more than the year before. Broader traffic picked up too, with 1,182 vessels of all types making the journey — a 14% increase.

Green Bay, Wis.-based Schneider last opened its coffers for an acquisition in November 2024 with the $390 million purchase of Baltimore-based Cowan Systems.

The Stockholm-based startup went public on the Nasdaq through a merger with blank-check firm Legato Merger at a pre-money equity valuation of about $1.35 billion. 

Packaged food company JM Smucker said it planned to lower coffee prices next year as costs comes down.

Starbucks CEO Brian Niccol said the coffee chain has the potential to add at least 5,000 more stores in the U.S., echoing comments from earlier this year.

ACT Research preliminary data showed orders increased 103% year over year, while FTR Transportation Intelligence reported an even larger 124% gain.

Growing evidence of so-called dark transits suggests that more vessels are moving through the Strait of Hormuz than visible tracking data indicates.

Oil prices fell back from gains on June 8. The price for a barrel of Brent crude oil, the international standard, fell 4.4% to $90.13 per barrel.

The June 12 event with representatives from both countries will mark the completion of the Gordie Howe International Bridge over the Detroit River. The bridge will open for traffic on June 15.