Finance

With profits around the corner, listed shipping companies are reopening the dividend spigots.

A United Nations report concludes U.S. consumers and Chinese exporters are the primary losers in the trade war. Taiwan, Mexico, Europe and Vietnam are net beneficiaries.

Third-quarter revenue fell for the shortline operator.

Market expert Michael Baudendistel writes about whether there is a rail recession, or are railroads paring operations and employees to fatten their bottom lines.

This is another in a series of videos produced by FreightWaves and SmartDrive, recorded at the recent SmartDrive Customer Conference in Atlanta. FreightWaves editor-at-large John Kingston discussed several key issues […]

Air Transport Services Group (NASDAQ: ATSG) reported a 219% increase in third-quarter operating profit of $105 million. The outsourced provider of air cargo services for Amazon.com’s Prime network and other […]

Fuel card and business payments provider, FLEETCOR, reports increases in fuel and toll revenue. Management said that they are seeing general softness across all trucking markets, domestically and abroad.

Global Ship Lease says it focuses on trade lanes responsible for 70% of global container trade and not the big East-West trades.

Trucking Freight Futures mostly unchanged on Tuesday in quiet trading session.

Roadrunner’s third quarter earnings report resembled a triage list indicating that the company’s restructuring path will be a bumpy one.

COSCO Shipping Energy Transportation (HKEX: 01138; SSE: 600026) has shrugged off U.S. sanctions on subsidiary companies to report a huge jump in revenues and a massive surge in profits.

Titanium Transportation Group sees weaker trends in the quarter, but manages to post a modest profit.

Ardmore Shipping execs predict the initial IMO 2020 phase will favor more expensive 0.1% MGO.

The October Logistics Managers’ Index hits record low, suggesting peak shipping season may disappoint.

The costs of operating a for-hire Class 8 truck rose 7.7% in 2018, the biggest jump since 2010. It is the highest per-mile cost since the American Transportation Research Institute began tracking the data in 2008.

Shipping liquified natural gas by rail is a controversial topic. Read what Jim Blaze thinks about the idea in his latest commentary.

Roadrunner continues to restructure its operations by shuttering another unit. The company announced that it was selling its intermodal operations to Universal Logistics.

Travel Centers of America reported stronger profits and sales for the third quarter as it added locations and sold more fuel at higher prices. Watch for International House of Pancakes restaurants to begin to replace TA’s Iron Skillet and Country Pride eateries.

North America has surpassed North Asia (China) as EXPD’s highest revenue region.

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.