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Purolator, which specializes in package delivery and is majority owned by Canada Post, sees the deal as an international growth play, particularly as the threat of trade wars grows.

The transportation sector saw merger and acquisition activity gain momentum as market conditions stabilized in the second half of 2024, according to experts.

The Greenwich, Conn.-based less-than-truckload carrier posted net income of $76 million, compared with $58 million during the same time the previous year.

Substantial change is expected in the U.S. less-than-truckload sector in 2025, according to market observers and executives, headed by the long-awaited freight market turnaround.

Chinese retailers that sell on Shein and Temu have been asked by logistics agents to start paying an additional 30% levy after President Donald Trump hiked tariffs on goods imported to the U.S. 

Profit at Marten Transport more than halved in the fourth quarter of 2024 as ongoing weakness in the freight environment hurt revenue and margins.

The Fort Smith, Ark.-based logistics company posted net income of $29 million, or $1.24 a diluted share, for the three months ending Dec. 31.

UPS Inc. experienced revenue and earnings growth despite a tougher freight market in the fourth quarter of 2024, the parcel delivery company reported Jan. 30.

Covenant reported a profit of $6.7 million or earnings per diluted share of 24 cents in Q4, just over half the $12.8 million or 47 cents per diluted share profit posted in Q4 2023.

The Phoenix-based truckload motor carrier reported a revenue decline of 3.5% in the fourth quarter amid efforts to improve the business ahead of the expected up cycle.