Business

The raise adds to the flurry of activity that has hit the digital freight forwarding space since the beginning of 2019.

According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Royal Dutch Shell PLC (NYSE: RDS) announced net income of $5.3 billion for the first quarter of 2019, a decrease of 2 percent from the same quarter last year, reflective of the crude oil market, but a significant improvement on the $4.5 billion expected by analysts.

TriumphPay is shifting the power over invoice control back into the hands of carriers.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.

NYSE-listed Scorpio Tankers has returned to profitability and its scrubber-installation program should position it to take advantage of the looming IMO 2020 rule.

In partnership with Reliance Partners …

ELDs are not just about tracking the hours of service of drivers. The data they gather can be used by fleets to improve driver behavior and operational efficiency, and by insurance companies to understand accident history for evaluating fleet risk profiles.

Releasing its earnings before the market open on May 2, Dana Inc. (NYSE: DAN) reported a drop in net income, which was $98 million in the first quarter of 2019, down from $108 million compared with the same three months of 2018.

Convoy has worked closely with shippers on various projects, including its Convoy Go program that gives owner-operators access to drop-and-hook freight. It has now formalized those efforts in the Innovation Lab.

OFAC said violations can be minimized if compliance programs include management commitment, risk assessment, internal controls, testing and auditing, and training.

Duty drawback programs and foreign-trade zones are two options, speakers said during a JAXPORT conference, but there are other ways to lower the financial obligation.

Mid-Ship Group agreed to pay $871,837 to settle violations of sanctions involving financial transactions from charter party agreements between IRISL and two of its ships.

Concerns about profitability in the ride-sharing sector are overblown, public-private partnerships are on the rise and transit and commuting platforms are the future.

BlackBuck has raised a total of $285.2 million till date and is looking to expand its services across India, without worrying much into its growing losses.

C.H. Robinson officials said their business model and technology has allowed the company to adapt through multiple cycles.

Atlas Air held a conference call to discuss its first quarter 2019 results. There were several questions of interest asked on the call.

So far this year, there has been heightened refinery downtime for maintenance and upgrades, but the tide is expected to turn in the second half, to the benefit of product-tanker rates.

Global logistics solutions group, WiseTech Global, has announced the acquisition of Xware, a leading messaging integration solutions provider in Sweden.

“The dairy industry couldn’t be more clear: Pass USMCA,” said Rep. Mike Conaway of Texas.

The Economic Roundup is designed to synthesize the events of the past month as they relate to freight markets, and provide a guide on trends to keep an eye on in the upcoming month.

Atlas Air Worldwide Holdings reported adjusted earnings of $0.98 per share, ahead of the fourth quarter 2018 and the NASDAQ consensus estimate of $0.86.

Market expert Scott Case has written about the use of dynamic pricing in airfreight. Long-used to sell passenger seats on airplanes, dynamic pricing is new to airfreight – but will likely be used extensively going forward. Read Scott’s take on the why’s and wherefore’s of the move.

Supply challenges weigh on profits, but company stays positive on market conditions.

The two sides will meet again in about three weeks to discuss how to pay for the package, which House Speaker Nancy Pelosi described as “big and bold.”

Uber stands to gain by avoiding wage and benefit costs that accompany workers classified as employees.

Growth in Canadian firm’s trucking business remained solid despite earnings miss.

Widening margins in NAST, especially truckload brokerage, led the way for Robinson.

Zūm announced it secured additional funding from new investor Citi Ventures to help double its national footprint by 2020

“You see a dearth of well-capitalized investment firms in this space,” said Dabo Horsfall, a former investment officer at Morgan Stanley Infrastructure Partners who launched Tensile Investments in 2018.

Eaton, maker of electrical systems and powertrain components posted record revenue in the first quarter.

Competitors agree on need to collaborate on common standards during Blockchain Revolution Global conference.

Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11 percent better year-over-year, but less than NASDAQ’s consensus estimate of $0.83.

Cummins is reviewing is emissions certification and compliance process following questions from EPA and CARB. The company did report strong earnings and a record number of engines shipped in the first quarter.

Market expert Brian Aoaeh’s article focuses on the current and upcoming maritime industry issues – IMO 2020, global warming, rising sea levels, etc. Read Brian’s take on how the maritime industry is meeting these challenges.

Speaker Pelosi and Senate Minority Leader Schumer wrote a letter to President Trump on Monday to outline priorities for Tuesday’s meeting about infrastructure.

Oshkosh Corporation (NYSE: OSK) reported its fiscal year 2019 second quarter earnings on April 30, highlighting an increased diluted earnings per share of $1.82, compared to the $1.47 reported in the same quarter in 2018, and a net income of $128.5 million compared to $110.8 million, in 2018.

Market expert Jim Blaze looks at an under-appreciated asset of North America’s freight railroads – their real estate holdings. Read Jim’s hypothesis of what the railroads might do with this real estate in the near future.

Transparency19 is just a few days away. Quick-fire demonstrations are a big part of the program; read why in this article, and if you haven’t bought a ticket yet, please do so!

But Ryder’s 3PL division, Supply Chain Solutions, is expected to go into negative year-over-year growth next quarter.

J.J. Keller & Associates, Inc., the nation’s leading provider of safety and compliance solutions, has joined the Blockchain in Transport Alliance (BiTA)

U.S. soybean exports have fallen in the past year in part because of the drop in exports to China due to tariffs and swine fever.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11.4 percent better year-over-year, but less than the consensus estimate of $0.83.

Passage of Mexican labor reform legislation was a key commitment included in the U.S.-Mexico-Canada Agreement.

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

Canadian National Railway Company reported adjusted earnings per share of C$1.17 per share for the first quarter 2019, 17 percent better than the same period a year ago.

Eight years since he burst on the scene with a $150 million acquisition of a then 22-year-old company called Express-1 Expedited Solutions, Brad Jacobs today sits astride a $17 billion per year multi-national behemoth.

Building a small business is difficult if you don’t have access to the same powerful tools that larger competitors do. Uber Freight, with its growing suite of tools, has been trying to empower small fleets and owner-operators to allow them to compete on an even playing field.

Putting export-import documents online may make a difference between container arriving to customer on time or sitting in a warehouse.

A few years ago the idea of using drones for last-mile delivery were just an idea. But the idea is becoming a reality in China, Indonesia and now the USA. Read Market Expert Cathy Roberson’s views on the use of drones for last-mile delivery.

Dry bulk shipping faced multiple headwinds in the first quarter, but NYSE-listed Scorpio Bulkers benefited from its smaller ships and its diversification into the product-tanker sector.

One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.

“There is no appetite in Congress to debate USMCA with these tariffs in place,” the Senate Finance Committee chairman wrote in The Wall Street Journal.

The Treasury agency takes steps to implement a new sanctions list to punish foreign entities that interfere in U.S. elections, but the “final rule” is still in development.

A public session will be conducted after the U.S. and South Korean officials sit down in Washington in May.

The Port of Boston invests in marine terminal infrastructure to handle regional cargo going on and coming off increasingly larger containerships.

Though blockchain looks to be promising, companies are still not convinced on the trustability of a blockchain network and it would take more than a few pilots to persuade stakeholders to join together on a single common decentralized ledger.

WTI’s recovery this quarter should accelerate production in the Permian Basin, driving further truckload demand.

Donald Broughton, FreightWaves’ chief market strategist, helps explain the U.S. economy in a multi-part series. This article focuses on the industrial economy of the U.S., which is critical to the overall health of the nation.

Growth in the U.S. economy improved 3.2 percent during the first quarter, but details related to freight demand suggest a weaker environment to start the year.

Getting stakeholders to cooperate in creating interoperability within blockchain networks is the next hurdle that the technology needs to overcome for mainstream adoption.

Japanese transport company, Nippon Yusen Kabushiki Kaisha (NYK Line) (JPX:9101) has today reported a loss of approximately US$400 million (Japanese Yen 44.5 billion)  for the year ended March 31, 2019. Following the red ink bloodbath, the company has replaced the chairman, president and representative directors.

The final part of the FreightWaves series on the Panama Canal focuses on dry bulk transits. The two trends: US agribulk cargo to Asia is down, Colombian coal to the west coast of South America and Asia is up.

Manufacturers should prepare for increased regional value content for the automobile sector, speakers said during an American Shipper webinar.

The Office of the U.S. Trade Representative released its annual “Special 301” report on Thursday.

The Department of Homeland Security and Justice and State departments are working with counterparts in China, Mexico and Central and South America.

USDA’s Animal and Plant Health Inspection Service said the 25 percent reserve fund keeps its quarantine inspections program running during spikes in demand.

Werner Enterprises, Inc. reported non-GAAP adjusted earnings per share (EPS) of $0.52, $0.03 ahead of the consensus estimate.

Company about to move the delivery cheese again.

Electric scooters and dockless e-bikes offer exciting opportunities for reducing car usage, but municipalities are struggling to retain authority over the public right-of-way and ensure privatized options are safe and accessible.

McKinsey has brought out a report that talks about how increasing passenger density in urban spaces is a strong indicator for an increase in ridesharing demand in the decade ahead.

Werner Enterprises, Inc. (NASDAQ: WERN), reported non-GAAP adjusted earnings per share (EPS) of $0.52, besting  the consensus estimate of $0.49 per share.

Covenant Transportation Group (NASDAQ: CVTI) posted adjusted earnings per share (EPS) of $0.27 for the first quarter of 2019, beating analyst estimates and edging past the expectations the company itself announced earlier this quarter.

This is the year when ALK expects Virgin America merger synergies to ramp up, but they’re still adding back costs associated with the deal.

A panel in Blockchain Expo 2019 spoke on how blockchain solutions can be used for increasing transparency, profitability and provenance in supply chains across a variety of markets.

Knight-Swift Transportation reported adjusted earnings per share that were ahead of analysts’ expectations. FreightWaves was able to speak with David A. Jackson, Knight-Swift Transportation’s President and Chief Executive Officer.

CEO Paul Svindland calls settlement “milestone” in path to stability after hit from financial scandal.

Intermodal business surges from acquisitions made during 2018.

Landstar’s President and Chief Executive Officer Jim Gattoni said that he is “comfortable” with the current full-year consensus EPS estimate of $6.41.

FreightWaves’ kick-ass Transparency19 will take place May 6-8 in Atlanta. New opportunities for SONAR and Trucking Freight Futures are available; learn how to register and take part!

Roper Technologies, Inc. (NYSE:ROP) reported diluted earnings per share (EPS) of $3.30 in the first quarter of 2019, up from $2.61 in the same quarter last year.

The company issued soft second quarter guidance, expecting organic net sales to range anywhere from flat to down 2.5 percent from the second quarter of 2018. The company also expects adjusted EPS to fall next quarter.

Kyocera Corporation will celebrate its 60th anniversary and its second consecutive year of record sales by paying out shares to its employees and confidently predicts a third year of record sales with further mergers and acquisitions to come.

CEO Gantt lowered capex guidance by $10 million to $480 million, likely reflecting top line headwinds, but we’re waiting to hear updated revenue guidance in the conference call.

Kenny Rocker, EVP of sales and marketing, said the rollout of the company’s Unified Plan 2020 is complete, which helped the Class I railroad overcome first-quarter challenges.

Canadian firm’s transportation segment shines as oil services shows signs of recovery.

Landstar System, Inc. reported first quarter earnings per share (EPS) of $1.58, compared to the consensus estimate of $1.51 and $0.21 higher than the 2018 first quarter.

Tesla (NASDAQ: TSLA) badly missed analysts’ earnings estimates for the first quarter of 2019. The company reported an adjusted loss per share of $2.90, much worse than analysts’ estimated loss per share of $0.69.

Despite a crash in truckload spot prices (approximately 50% of ECHO revenue), the freight brokerage beat analyst expectations.

After two deadly crashes involving its 737 MAX rattled the company, Boeing (NYSE: BA) is expected to report its earnings Wednesday, highlighting the financial toll of the flawed aircraft.  

Nick Brown, head of marine at classification society Lloyd’s Register, is at the front lines of ocean shipping’s technological evolution. He explains how he sees this transformation playing out.

CEO Alain Bédard says acquisition will invigorate Canadian firm’s U.S. last-mile business.

Knight-Swift Transportation Holdings, Inc. (NYSE: KNX) reported first quarter 2019 adjusted earnings of $0.55 per share compared to analysts’ expectations of $0.52 per share.

Heavy-duty equipment maker tops estimates largely due to one-time tax gain, but the mining business does show better growth.

In the wake of the 737 MAX crashes and subsequent worldwide grounding of the aircraft, Boeing reports its earnings, which are down for the quarter.

The company posted an operating ratio (OR) of 66 percent, improving on its fourth quarter 2018 OR of 67.8 percent and setting a first quarter record.

Swedish company says market outlook remains positive in North America as order book remains full.

Waymo is setting up the world’s first production facility in Detroit that manufactures Level 4 autonomous vehicles.

Manhattan Associates, Inc. held a call with investors to discuss its first quarter 2019 earnings results which were ahead of analysts’ forecasts on an adjusted basis.