Finance

Retail remains a rare source of strength in the economy while manufacturing struggles

The jobs of 449 workers are at stake as Aspray Transport closes down on August 16, after reeling under insurmountable debt and a worsening Brexit situation.

The CEO of Maersk says the impact from the U.S.-China tariffs and trade tensions on global trade has been quite manageable.”

Earlier today in Europe, Danish shipping giant A.P. Moller–Maersk (NASDAQ: Maersk A; NASDAQ: Maersk B) reported a massive increase in second quarter profit and earnings before interest, tax, depreciation and amortization. Revenues “grew slightly,” the shipping mega-conglomerate said.

Transportation and logistics firm plans additional brokerage offices in the United States, while CEO suggests a willingness to make an asset-based acquisition.

Tariffs are dampening enthusiasm for apples grown in Washington state, the country’s number one producer.

Evergreen Marine reports a second quarter profit and says it will add 23,000 TEU ultra-large containerships to its fleet.

Hyundai Merchant Marine, South Korea’s largest container carrier, said it had a smaller loss in the second quarter this year than in the same period in 2018.

186 transportation and logistics companies made the list.

Views of the market from the ACT Research seminar

Can listed shipping shares break out of their slump before the U.S.-China trade dispute is resolved?

Marten Transport to pay a $0.65 per share special dividend and increase its share repurchase program.

Canadian transportation firm posts a 19 percent drop in revenue on tougher freight market on both sides of the border.

Volatility appears to be the only certainty for transportation stocks as trade concerns loom. The transportation stocks walked through a less than stellar earnings season, but renewed trade concerns has them bouncing about.

Cowen analyst Jeffrey Osborne has raised his estimate for Workhorse Group Inc. shares from $2.00 to $4.00 based on the company beginning production in the fourth quarter of more than 1,100 lightweight electric-powered NGEN vans.

Two bond rating agencies downgrade UPS debt, urging caution in how it allocates free cash flows

The transformation continues at Celadon Trucking with former Swift Transportation chief taking the helm.

As protests continue at Hong Kong International Airport (HKIA), the disruption has not caused major delays in air cargo shipments or dramatic increases in rates, experts told FreightWaves. Protests at […]

Some tech goods, including cellphones, laptops and video game consoles, won’t be subject to Section 301 tariffs when a new round takes effect September 1.

In Texas, several major and regional airports posted large increases in air cargo trade for the first six months of 2019. Amarillo International Airport’s trade with the world rose a […]

Manila, Philippines-based international container terminal operator, ICTSI (PSE: ICT) has reported a massive increase in profit and a substantial increase in revenues for the first half of 2019.

Japanese gas explorer, prospector and transporter INPEX (JPX: 1605), which is listed on the Tokyo Stock Exchange, announced a solid upswing in revenues, operating income and net income.

Americold Realty Trust sees favorable refrigerated warehouse supply and demand dynamics continuing.

U.K.-based Deliveroo is exiting Germany, citing difficulties in maintaining the level of customer service that it offers across its other markets.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: new FAST lane in Laredo, Pharr Bridge sees mixed results, sales of […]

Port Laredo and the Port of El Paso reported declines in total trade volumes for the first six months of 2019, compared to the same period last year.  Laredo’s trade […]

Freight markets were steady this week as tariffs fuel volatility in stocks and bonds.

If YRC Worldwide, Inc.’s (NASDAQ:YRCW) second-quarter results could talk, they would tell investors and shippers to give them the benefit of the doubt. But after a disappointing quarter, an equity […]

July PPI data showed another decline in trucking rates as yearly growth will likely turn negative soon.

The Commerce Department’s investigation into Mexican tomato exports is set to conclude on September 19th.

Parking and technology will both be featured on this weekend’s edition of FreightWaves Radio on SiriusXM Road Dog Trucking.  Co-hosts John Kingston and Timothy Dooner will be joined by Sarah […]

Continued weakness from its Canadian Peterbilt dealerships adds to steep decline in Alberta company’s agricultural equipment business.

Uber’s second quarter as a public company saw a loss much worse than the consensus estimate. Revenue increased significantly at Uber Freight, so did the losses.

Rates could break out either to the upside or downside.

Old Dominion reported continued LTL volume weakness in July. Near-term volume relief may be hard to come by as domestic and global macroeconomic trends remain tepid.

Matson, the largest U.S. domestic container carrier, said it is lowering its operating income projection for 2019, citing lower container volumes to Hawaii.

The Complete Vehicles segment grew sales by 40.7 percent and widened its EBIT margin.

The owner of BNSF and the investor behind Uber have more in common than it seems.

Genesee and Wyoming sees second-quarter operating income decline amid lower freight revenues from its Australian and European operations and flat year-over-year revenue from its North American operations.

DHS concurred with the four recommendations made by the congressional watchdog agency.

Lyft reported revenue well ahead of estimates and commented that continued improvement in market conditions, which may mean lower rider discounts and an easing competitive landscape, prompted the improvement in guidance.

Seaspan says high demand for containerships has shielded it from the U.S.-China trade war.

Cathay Pacific is the latest in a string of airlines to cite trade tensions as the reason for plummeting cargo segments.

Hapag-Lloyd says it outlook for the second half of 2019 is unchanged even if it has to deal with more trade restrictions.

Roadrunner Transportation Systems reports another large operating loss and announces that it will narrow its focus to its logistics and asset-light LTL segments.

Stalco, a Toronto third-party logistics provider, takes advantage of duty-free limits to legally fulfill online orders of Chinese goods to consumers in the United States without incurring President Trump’s trade-war tariffs.

Jack Cooper Ventures says it will be “business as usual” as the auto hauler undertakes a restructuring.

Fleetcor modestly raises earnings guidance and says the acquisition pipeline has a couple of likely deals in the fuel, corporate payments and lodging segments.

Empty miles are a billion-dollar problem for trucking fleets, but are they more of a problem than they were in 2002? Recent headlines indicate they may be, but they may not tell the true story.

Deutsche Post DHL posts single-digit revenue, profit gains, lifts low end of full-year earnings view

As the United States-China trade war frightened stock markets on August 5 into their worst day of the year, some analysts said Mexico could find a silver lining in increased […]

For the first time, Workhorse Group is tying the possibility of a huge contract with the U.S. Postal Service to the acquisition of General Motors Lordstown, Ohio assembly complex.

North Asia revenues were down 8.5 percent, but EXPD improved productivity.

Whether the shale boom can keep going has recently been called into question.

Escalations in trade tensions between the U.S. and China could discourage containership owners from ordering new ships.

Operating performance bolstered by contracts with Amazon and U.S. government, said company CEO.

ISM data in both the service sector and manufacturing sector suggest the economy is slowing and recent tariffs could make things worse

Second quarter revenue for BNSF rose 0.3 percent despite lower volumes for agricultural products, consumer products and industrial products.

The United States and Mexico are on the brink of yet another trade war – this time pitting U.S. farmers against Mexican tomato growers and importers.  The debate centers around […]

Travel Centers of America became a Maryland corporation instead of a Delaware limited liability corporation to attracted stock funds prohibited from investing in LLCs. Its slightly improved second-quarter sales and earnings did not help its stock price in early trading on Monday August 5).

Daseke lowers its full-year 2019 outlook citing worse than expected results in its flatbed division.

Transplace finds a disparity in consumer goods trade leads to large spread between north and southbound traffic – and a Canada backhaul “tax.”

How high will rates out of Los Angeles go in October and November?

Goods like clothes and toys are on the proposed tariff list.

The beat comes after the company fell short of earnings expectations last quarter, coming in over 23 percent short of estimates.

The deal reached in Washington on Friday will allow the U.S. to nearly triple its beef exports to Europe.

The U.S.-China trade war has dropped trade volumes between the two countries to date in 2019. One result – Mexico is now the #1 trade partner of the U.S.

U.S. production increased 21 percent year-over-year to 898,000 barrels/day.

Leaders of a farmers’ protest in Mexico said if negotiations don’t progress with the government of President Andres Manuel López Obrador, the “next blockade” will be twice as large as […]

As with product tanker rates, crude tanker rates show no sign yet of upside from IMO 2020 preparations.

U.S. Xpress sees a tough second quarter, but expects industry fundamentals to firm as excess capacity exits the market.

XPO Logistics posts flat second-quarter revenue, exceeds estimates on EPS, cash flow

It’s hard to see a structural recovery in natty gas prices.

Donald Broughton writes a thought-provoking commentary about how technology has killed inflation.

Ben Thrower examines the costs – in money, lost land and lost businesses – of the high-speed rail line in California.

The new tariffs, announced a day after the Fed cut rates, will affect mostly consumer goods.

With air cargo slowing, could there be any bump up in August?

The Fed cut interest rates for the first time in over a decade. Shippers and carriers should benefit as the economy looks to reaccelerate

Morgan Stanley, Susquehanna, and Deutsche Bank cut their price targets; Stifel maintained.

At 10:30 a.m., its price was down almost 16 percent.

Japans K-Line shipping company reported its fiscal first quarter earnings.

Schneider National sees “less favorable” trends continuing into the back half of 2019. The company lowered guidance and announced the closure of its First to Final Mile business.

Japanese shipping company NYK;s fiscal first quarter earnings are covered in this article.

The U.S. Treasury Department’s Office of Terrorism and Financial Intelligence is at the center of the country’s efforts to counter national security and terrorism financing threats.

An overview of Japanese shipping company MOLs fiscal first quarter earnings is covered in this article.

Oshkosh Corp. has a green light from the U.S. Army to enter full production of its Joint Tactical Light Vehicle that will replace the HUMVEE in war zones.

Celadon’s turnaround gets a shot in the arm with a new three-year financing agreement.

The saga of the closed General Motors Lordstown plant continued with Vice President Mike Pence erroneously declaring that Workhorse Group Inc. had secured funding to buy the plant.

Ocean Network Express (ONE) expects slightly better profit this year than previously forecast as costs drop one year into its full operation.  But overall demand remains tepid as it lowered […]

The company reported diluted earnings per share (EPS) of $0.53, $0.01 short of estimates and $0.02 higher than the second quarter of 2018.

IMO 2020-driven refining activity and tanker demand appears to be materializing slower than previously expected.

Truckload volumes on a national basis have been trending 3% above 2018 levels for a week.

Canadian rail and trucking sectors expand as nation’s GDP increases by 0.2 percent, capping its best three-month period in two years.

Jim Wilson reports on Hong Kong-listed dry bulk ocean shipping company Pacific Basin’s earnings.

Ceva Logistics posts weak first-half results, pressured by economic weakness, subpar airfreight volumes and loss of big ocean contract

Wabash National says it has $1.2 billion of trailers in its production backlog with cancellations at normal levels and demand robust.

The Class I railroads have reported their second quarter/first-half of 2019 results. Jim Blaze writes about what may happen during the remainder of 2019.

Hub Group believes “soft” intermodal volumes will begin to flatten out and that the 2019 peak shipping season will be similar to that of 2017.

CHRW grew net income by 6.3% but increasing earnings per share by 8% with buybacks.