FedEx Corp. reported an increase in revenue for its fiscal first quarter, but said rising costs affected bottom-line results for the period.
September 21, 2021Logistics News
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.
FedEx Revenue Rises, but Higher Labor Costs Affect Bottom Line
August Truck Tonnage Posts First Monthly Gain Since March
Truck tonnage in August notched its first sequential monthly gain in five months, and dipped just slightly on a year-over-year basis, American Trucking Associations said.
September 21, 2021Maersk Is Heading for Biggest Profit in Danish History
A.P. Moller-Maersk A/S is heading for a full-year profit that will match its combined results from the past nine years and make business history in its home country, Denmark.
September 21, 2021FedEx Sets Rate Increase, Cites Challenging Operating Environment
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.â€
September 21, 2021Biggest US Port Complex to Work Nights, Weekends to Cut Logjam
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.
September 17, 2021Union Pacific CEO Sees Strong Economy Coming Out of Pandemic
Union Pacific CEO Lance Fritz is working to help clear up a major backlog in imported shipments.
September 17, 2021CN Rail Targets Cost Cuts, Share Buybacks to Fend Off Shareholder Revolt
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.
September 17, 2021Ship Owner Says Commodity Freight Rates Close to Going Parabolic
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.
September 16, 2021Worker Shortage Adds to Supply Chain Snags, Caterpillar CEO Says
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.
September 15, 2021CN Rail Walks Away From K.C. Southern, Ending Takeover War
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.
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