European airline conglomerate Lufthansa Group has released its earnings for the first quarter of 2024, reporting a sizable €849 million ($908 million) operating loss fueled in part by crippling airline worker strikes. According to Reuters, Lufthansa reached a new deal with the union for 25,000 ground staff on March 27, but not before strikes forced the … Read more
Demand for goods from Chinese e-commerce retailers such as Shein and Temu, which offer fast delivery times, are responsible for a spike in air cargo rates from China to the U.S. that is atypical for this time of year. According to Nikkei Asia, the air cargo market is already under strain because of limited flights, and … Read more
Companies that move goods around and serve as a bellwether for the American economy sent up a smoke signal during the week of April 15-19. The Dow Jones Transportation Average has tumbled to levels last seen in November 2023 and is on track to end lower for the third straight week. Moreover, the losses pushed … Read more
Boeing was the subject of dual Senate hearings April 17, as Congress examined allegations of major safety failures at the aircraft manufacturer. According to the Arkansas Democrat Gazette, the Senate Commerce Committee heard from members of a panel that claimed there are serious flaws in Boeing’s safety culture. Sen. Ted Cruz, R-Texas, said the public … Read more
Police named two Air Canada employees among the suspects in the theft of millions of dollars in gold from a cargo facility at the country’s busiest airport, in what’s been dubbed Canada’s largest-ever gold heist. Police in Peel Region, a Toronto suburb, identified nine men they believe were involved in the crime; they’ve arrested five … Read more
Earlier today, Hedehusene, Denmark-based global 3PL DSV said it has acquired two United States-based freight transportation and logistics services providers—S&M Moving Systems West and Global Diversity Logistics. Financial terms of these transactions were not disclosed. DSV said that the objective of these acquisitions are three-fold: to augment its position within the semiconductor industry; align with … Read more
February truck tonnage data issued earlier today by the American Trucking Associations (ATA) saw continued gains. The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for February, came in at 118.4 (2015=100), for a 1.2% increase, over January’s 117 reading. January was up 0.6% over December to start 2023. And December was up 0.4% gain … Read more
After receiving 156 submissions for the 2023 MHI Innovation Awards, five independent judges comprised of professionals from the material handling and supply chain industry completed the initial review process. “The product submissions we received for the awards are nothing short of amazing,” said Greg Baer, MHI’s VP – sales. “Every year our exhibitors demonstrate a … Read more
Today the biggest got even bigger following a blockbuster mega-merger in the $332 billion truckload market. Phoenix-based Knight-Swift Transportation, already the biggest player in the TL market at $4.5 billion revenue last year, is buying Chattanooga, Tenn.-based U.S. Xpress, which ranked ninth in TL revenue last year at $2.2 billion. The deal is valued at … Read more
The American Trucking Associations (ATA) expressed what it called its “grave concerns” about media reports that the Environmental Protection Agency (EPA) may be on the verge of granting the state of California waivers to implement potentially harmful and unrealistic emissions rules on the industry. Under California rules, new Class 8 heavy truck models would be zero-emission … Read more
