18 Apr China’s $1 Billion Port With Almost No Container Traffic Each year, about 60,000 ships vital to the global economy sail through the Indian Ocean past a Chinese-operated port on the southern tip of Sri Lanka. Few stop to unload cargo. Read more...
18 Apr Blockchain on Verge of Revolutionizing Shipping Industry Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. Read more...
18 Apr Daseke Buys Canadian Energy Services Firm Aveda Daseke Inc. on April 16 continued its acquisition activity, announcing it will purchase Aveda Transportation and Energy Services, a large North American oil rig moving company based in Calgary, Alberta. The deal is expected to close in June. Read more...
18 Apr Nussbaum Transportation Begins Employee Stock Ownership Plan Brent Nussbaum, CEO of Nussbaum Transportation, gave 35% of ownership to employees through an employee stock ownership plan, known as an ESOP. Read more...
18 Apr Oil Rises to Highest Since 2014 on Bullish US Inventory Report Crude rose to its highest level since 2014 in New York as the drop in U.S. inventories reported by an industry group helped to sustain a rally spurred by geopolitical risks. Read more...
18 Apr Opinion: Could Data-Driven Technology Lead the Trucking Industry to Nirvana? The trucking industry has hit a few roadblocks in recent times. Driver shortages, increased competition from outside the industry and slow acceptance of technological advances are just a few of the hurdles that have brought stagnancy to our sector. Read more...
18 Apr UPS Picks George Willis to Oversee US Package Operations UPS Inc. has tapped George Willis as president of U.S. operations, succeeding Myron Gray, who will retire May 1 after a 40-year career at the Atlanta-based parcel carrier. Read more...
18 Apr Soon-to-Be New York Fed Chief John Williams Sees Little Risk in Rate Hikes John Williams, who will take the helm of the Federal Reserve Bank of New York in June, played down risks the yield curve would become inverted as the U.S. central bank gradually raises interest rates. Read more...
18 Apr Peoples Services Acquires Grimes Cos. to Expand in Southeast Peoples Services Inc., a logistics firm based in Canton, Ohio, acquired the assets of The Grimes Cos. in Jacksonville, Fla., a move that substantially expands the company’s warehousing and distribution services in the southeastern United States. Read more...
18 Apr New Hampshire Self-Driving Vehicle Legislation Faces Speed Bumps A bill that would allow companies to road-test self-driving vehicles in New Hampshire may be facing some speed bumps. Read more...