Finance

Danaos expects in 2020 container trade demand growth will outpace supply growth for the first time in almost 10 years.

It’s an income statement of two halves for COSCO Shipping Development, which both leases container ships while also making and leasing ocean shipping boxes. Revenues fell off a cliff. But COSCO Shipping Development was able to protect its bottom line by slashing costs. Profits surged.

Uber Freight sees loads more than double on a year-over-year basis, but the division’s losses increased as well. Investors will now likely mull over these results as the company’s stock lock-up expiration approaches.

After Friday’s trading session, volatility appears to be creeping back into the Trucking Freight Futures market.

Lower operating expenses helped to increase profits.

Truck maker TRATON Group S reported higher revenue and profit for the first nine months of the year, but warned of a tougher 2020 with an accelerating slump in orders and global economic uncertainty.

Story updated 11/42019, 2:45 p.m. Canadian overnight air cargo provider Cargojet [TSE: CGJTF] increased its third-quarter adjusted pretax earnings by 24% to C$39.1 million ($29.7 million) compared to the same […]

Hong Kong Stock Exchange-listed ocean carrier Pacific Basin (HK: 2343) will issue US$175 million (approximately HK$1,371 million) of non-amortizing unsecured convertible bonds to boost its balance sheet while growing and renewing its fleet.

Logistics real estate developer ESR Cayman (HK: 01821) roared into public life on Friday when it floated on the Hong Kong Stock Exchange. It was the second-biggest IPO of the year in Asia.

Saudi Aramco, believed to be the world’s largest integrated oil and gas company, has announced it will undergo an IPO on the Saudi Arabian stock exchange.

New freight indices provide visibility on potential earnings premiums of scrubber-equipped vessels.

ExxonMobil, Chevron, and Royal Dutch Shell reported earnings this week: we discuss the implications for freight.

Spot month Trucking Freight Futures rates rise Thursday as futures contracts roll over to November.

ArcBest posts weak third quarter numbers for asset and non-asset units

U.S. Xpress cites a weaker spot market and compressed brokerage margins as reasons for the third quarter loss. However, the decision to grow its fleet, a portion of which is reliant on the spot market, drew several questions from analysts on its call.

A leading economist on the question of driver economics will join us on FreightWaves Radio.

Ben Thrower writes about the positive and negative aspects of precision scheduled railroading in this commentary article.

The challenges facing the Danish logistics giant as it integrates Panalpina were evident in its first quarterly results since the $5 billion acquisition.

Container leasing company Textainer said a traditional peak season did not materialize in 2019.

Add USA Truck to the list of carriers finding themselves struggling to find their way in a soft freight market. The carrier found itself forced into the spot market to find freight for its trucks after making an acquisition just a year ago.

“K” Line has warned the global economic slowdown could lead to a deterioration in transportation demand.

Spot month futures contracts eerily quiet approaching Halloween expiration.

Ship owners like Dorian LPG are reaping the benefits of very strong VLGC spot rates.

With the bulk of its final mile business shuttered and its tractor fleet right-sized, management believes that the company is on solid footing to see improvement in 2020.

YRC’s third quarter earnings show weakness at regionals, some resiliency at YRC Freight

Ben Thrower writes about the importance of American agriculture – not just to the U.S. population, but to the country’s trade negotiations.

The rail equipment and technology manufacturer sees international opportunities as an area for business to grow.

FreightCar America sees net loss more than double as it navigates the downside of railcar demand. The company’s cost restructuring remains on track.

Mitsui OSK Lines (MOL) recorded a major drop in revenues in the first half of its financial year as container earnings fell off a cliff and the U.S.-China trade war took its toll. But MOL was able to limit damage to operating profits.

Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.

While Hub Group reported a
good quarter, its near-term outlook is pretty rough. In short, Hub Group doesn’t see a peak season coming in 2019.

Trimble misses revenue estimates for third quarter of 2019.

But the ride-hailing company still posted a net loss of $463.5 million.

Spot month Trucking Freight Futures contracts are generally quiet approaching expiration.

Heartland Express continues to perform. The carrier posts another solid quarter in the face of a “softer” environment.

Updated at 8:40 p.m. Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW), buffeted by a weak global airfreight market exacerbated by trade disputes and disruptions from a labor dispute with its […]

Orbcomm, Inc. (NASDAQ: ORBC) sees its shares sell off after its quarterly report. The company’s transition to subscription service, and the accompanying delay in revenue, appears to be weighing on investor sentiment.

Saia withstands, as best as it can, a weak macro to post decent third quarter results

Analysts now want CHRW to cut costs.

Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.

Hong Kong Stock Exchange-listed ocean container carrier SITC (HKEX: 01308) has reported increases in its unaudited third-quarter results despite a global trade slowdown and the China-U.S. trade war. SITC’s container revenues and volumes have both increased.

CAI International Inc. (NYSE: CAI), a leading container-leasing and logistics company, said it had modest year-over-year growth in revenue from continuing operations in the third quarter but that it had […]

Biesterfeld: “We expect that North American routing guides will continue to reset at lower prices.”

Airline’s Pacific and Atlantic routes hardest hit as trade wars continue to take a toll on air freight volumes and yield.

Indiana-based Cummins Inc. (NYSE: CMI) reported third quarter total revenue of $5.77 billion,  a decrease of 3% from the same quarter in 2018.  North America revenues decreased by 6%, while […]

The Los Angeles to Dallas spot contract (VLD) weighed on the South region, dragging National Trucking Freight Futures lower on Monday.

Floating storage, scrubbers delays and newbuilding unease should continue to squeeze crude-tanker capacity.

Canadian e-commerce company plans to scale its nascent U.S. Fulfillment Network in 2021, leveraging third-party warehouses and a robot-enabled platform from recent 6 River acquisition.

Ryder expects used truck prices to continue deteriorating in 2020.

A telematics-based pay-as-you-drive program from Daimler Trucks Financial could help trucking firms on the financial brink because of high lease payments and insurance premiums.

Tech-enabled last mile is still in early innings, and there are a number of competing strategies.

Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.

XPO Logistics stays ahead of macro weakness as net income, EPS jump in q3

Automaker reducing output and laying off about 450 workers at Oakville, Ontario, facility as its phases out Ford Flex and Lincoln MKT models, adding to woes of Canada’s auto sector.

Volatility returned late last week in the West and South Trucking Freight Futures markets.

Austin, Texas-based centralized freight platform Shipwell raised $35 million of venture capital funding from a consortium of investors led by Georgian Partners of Toronto, Canada.

All remained quiet on Thursday as Trucking Freight Futures spot contracts near expiration.

FreightTech 25 winners will be interviewed live, and attendees will get to hear commentary on the state of the industry and the recession, as well as the outlook for 2020.

Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.

Marine transportation outperforms as barging gets back to normal, but other units struggling.

The rail equipment manufacturer said it delivered record railcar deliveries in the quarter.

Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”

South Korea-based ocean box shipping line Hyundai Merchant Marine (KRX: 011200) has revealed plans to issue a 660 billion Korean won (US$562.4 million) convertible bond. It’s a bold move for a company that’s already carrying KrW4.1 trillion (US$3.49 billion) of debt. One analyst has described the company as having a “horrible balance sheet”.

Forward Air management guided for negative EPS growth in the fourth quarter.

Correction: The story has been updated with correct figures for cargo revenue. The original story said cargo revenue increased 9% to $60 million, but that line item covers cargo and […]

General Motors strike, a personal injury lawsuit and soft freight market drive across- the-board losses.

Werner Enterprises Inc. reported net income of $39 million, or $0.56 per share, for the third quarter in 2019.

Canadian and U.S. trucking units continue to squeeze revenue and profits from uneven freight market as LTL and last-mile deliver uneven performance.

Amazon.com. Inc. (NASDAQ:AMZN) late Thursday reported third-quarter revenue of $70 billion, a 24% increase over the same period in 2018, as well as a 46% surge in worldwide shipping costs […]

Trinity Industries Inc. (NASDAQ: TRN) reported third-quarter net income of $49 million and earnings per share (EPS) of $0.39, compared to net income of $27.9 million, and EPS of $0.19 […]

Trucking Freight Futures relatively unchanged in quiet Wednesday trading session.

The container leasing company Triton International said it had “solid” financial performance in the third quarter despite weak leasing demand since last fall.

Updated at 3:15 p.m. EST. Earnings call adds. Cargo business fell during a challenging third quarter for American Airlines [NASDAQ: AAL], which faced operational disruptions and higher costs from labor […]

Top shipping execs reveal the inside story of the recent crude-tanker rate maelstrom.

Daimler AG reported high sales and earnings in the third quarter but is cautioning that tougher times lie ahead for its Mercedes-Benz car and Daimler Trucks businesses.

Old Dominion posts first year-on-year revenue drop in 3 years as macro weakness hits home

Container ship lessor says charter rates on larger vessels is improving as supply falls.

Broadford Global has made a mandatory unconditional offer for all the H shares in the dual-listed Dalian Port Co. (HKEX: 2880 and SSE: 601880) of Liaoning Province, China.

Murray Mullen suggests freight market weakness could take carriers out of business, but says his company is ready to jump on acquisition opportunities to grow its less-than-truckload business.

Stock soars after the electric vehicle maker posts better than expected Q3 results.

Rush Enterprises Inc., the largest dealer network of commercial vehicles in North America, reported lower earnings and higher sales in the third quarter. But the company warned that a glut of used trucks is causing faster-than-normal depreciation and is hurting sales.

The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.

Delta Air Lines [NYSE: DAL] is selling $1.5 billion worth of bonds to help pay for its 20% stake in South American carrier LATAM Airlines, according to a prospectus filed […]

In a tough freight environment, the Chicago brokerage outpaced Wall Street’s expectations.

The railway also earned record third-quarter revenue.

Trucking Freight Futures forward curve on Tuesday points to higher short-term National rates.

Intermodal was a particularly weak spot; OR at Swift a concern to Deutsche

Updated 6:32 p.m. Aircraft maker Boeing [NYSE: BA] is reporting sharply lower earnings for its fiscal third quarter as the company deals with the grounding of its new 737 MAX […]

Scorpio Bulkers plans to continue to monetize its position in related-party Scorpio Tankers.

Further operational efficiencies will push the railroad to its target, the company said.

Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.

Covenant blames weak freight environment for drop in revenue and net income in third quarter 2019.

Despite lowering its operating ratio, the railroad tempers its 2019 outlook.

Boeing Company’s stock [NYSE: BA] has fallen 32% since documents turned over to Congress and the U.S. Federal Aviation Administration on Oct. 17 revealed that a former Boeing test pilot […]

Trade executed in the November National Trucking Freight Futures contract; South and West futures remain volatile on Monday.

The abrupt retirement of Jim Barber, UPS’ CEO heir-apparent, overshadows company’s third-quarter results

Paccar Inc. delivered 31,000 trucks in the third quarter, helping the parent company of Kenworth Truck Co. , Peterbilt Motor Co. and DAF beat earnings estimates.

Jim Blaze explains the new CSX trip compliance reporting… perhaps the first step for railroads to compete more effectively with the trucking industry.

The rail equipment manufacturer sees high utilization rate but says economy faces uncertainty.

Some investors prefer hard-to-disrupt niche businesses; others want to roll up e-commerce services and replicate Amazon’s offering.