Washington — The owner and manager of the cargo ship involved in the tragic Baltimore bridge collapse have agreed to pay over $102 million to cover cleanup costs, according to officials on October 24. This settlement resolves a lawsuit filed by the Justice Department but does not include compensation for the reconstruction of the Francis…
In an effort to prevent a potential strike that could paralyze major container ports along the U.S. Atlantic and Gulf Coasts, President Joe Biden’s aides are holding discussions with representatives from ocean carriers and terminal operators on September 27. The administration is focused on averting disruptions while affirming its stance against intervening to force workers…
DSV A/S is nearing a landmark agreement to purchase DB Schenker, the logistics arm of Deutsche Bahn AG, in a deal valued at approximately €14 billion ($15.4 billion), sources familiar with the negotiations revealed. If completed, this transaction could become one of the largest in the transport sector. According to insiders, DSV has secured the…
Berlin – German security officials issued a stern warning on Friday regarding the presence of “unconventional incendiary devices” being dispatched via freight services. This alert, distributed to logistics and aviation companies, follows reports of several parcels catching fire during transit. According to information from the Federal Criminal Police Office (BKA) and the BfV domestic intelligence…
GXO Logistics, Inc. (NYSE: GXO), the foremost global contract logistics provider, and PFSweb, Inc. (Nasdaq: PFSW), a trailblazing tech-driven eCommerce fulfillment platform, have officially inked a groundbreaking deal. GXO is set to acquire PFSweb at $7.50 per share in cash, marking a significant equity valuation of approximately $181 million. With an enterprise value totaling $142…
Ryder System, Inc. (NYSE: R), a leading provider of supply chain, dedicated transportation, and fleet management solutions, is bolstering its multiclient warehouse network with the addition of a 400,000-square-foot distribution center in Aurora, Illinois. This newly constructed facility began operations in August and is the latest expansion in a growing portfolio of warehouses strategically located…
Washington — The owner and manager of the cargo ship involved in the tragic Baltimore bridge collapse have agreed to pay over $102 million to cover cleanup costs, according to officials on October 24. This settlement resolves a lawsuit filed by the Justice Department but does not include compensation for the reconstruction of the Francis…
In an effort to prevent a potential strike that could paralyze major container ports along the U.S. Atlantic and Gulf Coasts, President Joe Biden’s aides are holding discussions with representatives from ocean carriers and terminal operators on September 27. The administration is focused on averting disruptions while affirming its stance against intervening to force workers…
DSV A/S is nearing a landmark agreement to purchase DB Schenker, the logistics arm of Deutsche Bahn AG, in a deal valued at approximately €14 billion ($15.4 billion), sources familiar with the negotiations revealed. If completed, this transaction could become one of the largest in the transport sector. According to insiders, DSV has secured the…
Berlin – German security officials issued a stern warning on Friday regarding the presence of “unconventional incendiary devices” being dispatched via freight services. This alert, distributed to logistics and aviation companies, follows reports of several parcels catching fire during transit. According to information from the Federal Criminal Police Office (BKA) and the BfV domestic intelligence…
GREEN BAY, WI — Schneider National, Inc. (NYSE: SNDR) has reported its financial performance for the second quarter ending June 30, 2024. The company saw a 51% drop in operating income to $51 million and a decrease in diluted earnings per share to $0.20, compared to $0.43 a year earlier. This decline was attributed to…
