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.
Venture Formed to Provide Bulk Liquids Storage, Logistics
Hartree Partners, a New York-based commodities trading firm, is forming a business to provide storage, terminaling and logistics services for producers of crude oil, refined petroleum products and other bulk liquids.
February 8, 2019Hub Group Revenue Tops $1 Billion in Fourth Quarter
Intermodal and logistics service provider Hub Group reported revenue topping $1 billion and higher profits in the fourth quarter of 2018.
Americold Acquires PortFresh Warehouse, Plans Port of Savannah Expansion
Cold storage warehouse operator Americold acquired PortFresh Holdings in Savannah, Ga., and said it will build a 15 million-square-foot cold storage facility on an adjacent site as part of a move to increase the firm’s share of the market for food imports and exports at the Port of Savannah.
Amazon Cuts Deal to Unfreeze Suspended Product Listings in India
Amazon.com resurrected thousands of suspended product listings in India by selling much of its stake in top local venture partner Cloudtail, a hastily arranged deal intended to comply with stringent new e-commerce regulations that upended the market.
Steel Expected to Struggle on China Tariffs
After two years of bumper profits, the steel industry is entering a slowdown. ArcelorMittal, as well as smaller European producers like Salzgitter AG and Voestalpine AG, are sounding the alarm about weakening conditions, particularly in China. The country, which uses about half of the world’s steel, is now expected to see a drop in demand, the first contraction since 2015.
Mullen Group Takes Hit From Downturn in Oil Field Services
Mullen Group reported higher revenue and profits in the fourth quarter of 2018 despite a “market meltdown” caused by falling oil prices that curtailed demand for transportation services as the year ended.
Port Authority in Pittsburgh Seeks $3 Million From Norfolk Southern for Derailment Costs
The Port Authority of Allegheny County in Pennsylvania is asking Norfolk Southern Corp. for $3 million to reimburse costs incurred during the August derailment at Station Square that disrupted light rail traffic for nearly three weeks.
Werner Enterprises Posts Record Results
Werner Enterprises produced record revenue and higher profits in the fourth quarter of 2018 as a strong economy fueled demand for both its trucking and logistics services.
Gas-Tax Hike Needed for Roads, Maintenance, Ohio Transportation Panel Says
After two meetings, a committee formed by Gov. Mike DeWine to study options for fixing a shortfall in money for road construction and maintenance has come to a consensus that the state gasoline tax needs to increase.
Seattle Port Finds a Partner for Major Upgrade to Terminal
On Feb. 5, officials with the Northwest Seaport Alliance, the joint venture between the ports of Seattle and Tacoma, unveiled a tentative deal with Seattle-based Stevedoring Services of America Terminals, one of the world’s largest terminal operators, to manage a planned “big ship” loading facility on Terminal 5, just west of Harbor Island.