Logistics News

“Speed matters in a tight freight market — but carriers who win aren’t just moving fast, they’re moving smart,” said Mark Hill, CEO of PCS Software.

Shares of Canadian National Railway slumped the most in more than four years after revenue came in below expectations in the first quarter.

The oil industry is wrangling over who should be liable for contracted shipments that weren’t delivered as a result of the Iran war. 

The Jacksonville, Fla.-based motor carrier posted net income of $39.4 million, or $1.16 a diluted share, for the three months ending March 31.

The meeting, described by a White House official, included representatives of Chevron as well as trading houses Trafigura Group, Vitol Group and Mercuria Energy Group.

President Donald Trump told Axios he will not lift a naval blockade of Iran’s ports until he secures a deal with Tehran to address the country’s nuclear program.

Brent for delivery in July, which is where more of the trading is happening in the oil market, rose 5.3% to $109.92.

Werner Enterprises said its Q1 results reflected gains from strategic efforts to reposition operations, resulting in higher revenue and a narrowed net loss.

Tehran could be using retired ships to keep loading oil. The U.S. blockade means tankers carrying Iranian oil remain stuck in the Persian Gulf or the Gulf of Oman. 

U.S. crude exports surged to a record above 6 million barrels a day as the Iran war sends overseas buyers hunting for replacements to Middle Eastern oil.