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FedEx Sets Rate Increase, Cites Challenging Operating Environment

FedEx truck David Paul Morris/Bloomberg

FedEx Corp. plans to raise its delivery rates in 2022 by the most in at least a decade as the courier shoulders rising costs in what it called a “challenging operating environment.”

Thomas Black | Bloomberg News
September 21, 2021
Government, Business, Technology, Logistics

Biggest US Port Complex to Work Nights, Weekends to Cut Logjam

Port of Los Angeles Congestion at the Port of Los Angeles earlier this year. (g01xm/Getty Images)

Ports operating in the U.S.’s biggest gateway for trade with Asia will extend night hours and work weekends to clear port delays amid record volumes.

Ana Monteiro | Bloomberg News
September 17, 2021
Government, Business, Logistics

Union Pacific CEO Sees Strong Economy Coming Out of Pandemic

Lance Fritz Lance Fritz by Nati Harnik/AP

Union Pacific CEO Lance Fritz is working to help clear up a major backlog in imported shipments.

Josh Funk | Associated Press
September 17, 2021
Business, Logistics

CN Rail Targets Cost Cuts, Share Buybacks to Fend Off Shareholder Revolt

Canadian National train A Canadian National Railway locomotive pulls a train in Montreal. (Christinne Muschi/Bloomberg News)

Canadian National Railway Co. said it plans to cut spending, streamline management and buy back C$5 billion (about $4 billion) of stock next year as its tries to ward off a shareholder revolt started by TCI Fund Management Ltd.

Derek Decloet | Bloomberg News
September 17, 2021
Business, Logistics

Ship Owner Says Commodity Freight Rates Close to Going Parabolic

Ship Owner Says Commodity Freight Rates Close to Going Parabolic Port Jersey Marine Terminal. (Craig Warga/Bloomberg)

An owner of commodity hauling freighters said rates for the ships are close to the point of spiking sharply higher and mirroring an unprecedented surge in costs for transporting manufactured goods.

Alex Longley | Bloomberg News
September 16, 2021
Business, Equipment, Logistics

Worker Shortage Adds to Supply Chain Snags, Caterpillar CEO Says

Worker Shortage Adds to Supply Chain Snags, Caterpillar CEO Says Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Ky. (Luke Sharrett/Bloomberg)

Caterpillar Inc. is having a tough time getting the materials it needs from suppliers facing a labor crunch, adding another hurdle for the machinery maker already has said a global chip shortfall may keep it from fully meeting demand this year.

Joe Deaux | Bloomberg News
September 15, 2021
Business, Logistics

CN Rail Walks Away From K.C. Southern, Ending Takeover War

CN Rail Walks Away From K.C. Southern, Ending Takeover War A Kansas City Southern Railway locomotive passes through Knoche Yard in Kansas City, Mo. (Whitney Curtis/Bloomberg News).

Canadian National Railway Co. declined to increase its offer for Kansas City Southern after a monthslong takeover battle, ceding to Canadian Pacific Railway Ltd. a prize that would create the first railroad spanning the U.S., Canada and Mexico.

September 15, 2021
Government, Business, Technology, Equipment, Safety, Logistics

Intermodal Freight Industry Ponders Investment in Resilience

Intermodal panel From left: Bailey, Strongosky, Acors and Burton discuss intermodal's COVID challenges. (Jerry Hirsch for Transport Topics)

LONG BEACH, Calif. — The intermodal freight industry is debating how much it should invest in infrastructure and other expenditures to build resiliency in the face of disruptive shocks such as the COVID-19 pandemic.

Jerry Hirsch | Contributing Writer
September 14, 2021
Business, Logistics

Intermodal Needs Greater Cooperation to Remove Bottlenecks

Barbara Melvin (from left), Mark McKendry and Stephanie Kuntzman Barbara Melvin (from left), Mark McKendry and Stephanie Kuntzman by Jerry Hirsch for Transport Topics

LONG BEACH, Calif. — Surging U.S. import demand combined with years of underinvestment have thrown intermodal shipping so far out of balance that it will take years to return to an equilibrium the industry considered normal, an expert panel told attendees at the Intermodal Association of North America’s Intermodal Expo.

Jerry Hirsch | Contributing Writer
September 14, 2021
Business, Logistics

Spot Rates Have Peaked, Some Shipping Lines Say

Spot Rates Have Peaked, Some Shipping Lines Say The Hapag-Lloyd AG Leverkusen Express sails out of the Yangshan Deepwater Port, operated by Shanghai International Port Group Co. (Qilai Shen/Bloomberg)

One of the world’s biggest shipping lines has decided to stop increasing spot freight rates on routes out of Asia to Europe and the U.S. as it sees an end to the rally that has put prices at record highs.

Ann Koh | Bloomberg News
September 14, 2021

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