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The Daily Dash: XPO Board Approves Spinoff

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The Daily Dash: XPO Board Approves Spinoff

The Daily Dash is a quick look at what's happening in the freight ecosystem. In today's edition, we highlight the latest news on XPO Logistics' (NYSE: XPO) spinoff, wildfire issues that are impacting the Port of Vancouver, and more.

Reminder: FreightWaves' Autonomous & Electric Vehicles Summit starts at 9 a.m. ET on Wednesday. Click here for free registration for the virtual event.

The High Five

1. The board at XPO Logistics Inc. has approved the spinoff of the company's contract logistics operations, and the company will begin trading on the New York Stock Exchange on Aug. 2 under the symbol GXO. Tuesday's announcement marks the culmination of an eight-month process. Mark Solomon's story


2. Canadian bulk carrier Trimac Transportation has acquired Southern California cement hauler Double Eagle Transportation. Based in Hesperia, California, family-owned Double Eagle operates a fleet of 96 tractors and 124 dry bulk pneumatic trailers. Todd Maiden's story


3. The Port of Vancouver is continuing to feel the domino effect from the disruption caused by wildfires in British Columbia even as CN and Canadian Pacific rail service resumes. As of Tuesday afternoon, 41 ships were at anchor at Canada's largest port. Nate Tabak's story


4. BBAM Aircraft Leasing & Management has signed with Boeing to convert a dozen more of its 737-800 passenger aircraft into dedicated freighters as e-commerce and express cargo markets continue to create strong demand among carriers for all-cargo aircraft. Eric Kulisch's story


5. Samsara and EVgo announced a partnership aimed at supporting companies deploying, managing, charging, and maintaining electric vehicles. The partnership gives Samsara's commercial fleet customers access to EVgo's network of 800 fast-charging stations across the U.S. Noi Mahoney's story


Five more to check out

Washington state issues emergency outdoor heat exposure rule for workers

Verizon, Mastercard partnering on 5G contactless payments

Capacity issues keep e-commerce shippers on their toes

Long-haul narrowbody, supersonic jets could threaten air cargo

2021 Shipper of Choice profile: The Home Depot

Image by chapay from Pixabay

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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