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Convoy Aims To Save 3 Million Pounds Of CO2 In 2021
Wednesday, May 5, 2021 - 10:52am | 758Read More...During the 2020 calendar year, Convoy — a digital freight network company that is already carbon-neutral — helped customers save 1.6 million pounds in carbon emissions. From mid-2019 to Dec. 31, 2020, Convoy's emissions savings totaled 2.19 million pounds of CO2. Encouraged by its progress, Convoy...
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'The Best Quarter Ever' For Container Shipping Giant Maersk
Wednesday, May 5, 2021 - 10:48am | 1258Read More...As the saying goes: "Never let a good crisis go to waste." Before COVID struck, AP Moller-Maersk embarked on a transformation to become a global end-to-end logistics provider. The pandemic created an unexpected and unprecedented surge in cargo demand — which Maersk is now using to accelerate its...
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Deutsche Post DHL Reports Best First-Quarter Results In Its History
Wednesday, May 5, 2021 - 10:46am | 378Read More...Deutsche Post DHL Group (NASDAQ: DPSGY) reported on Wednesday strong first-quarter results that led the German transport and logistics giant to substantially increase full-year earnings guidance and cash flow targets. For the quarter, revenue rose 26% from 2020 levels to $22.7 billion, while free...
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April Class 8 Truck Orders: Too Much Of A Good Thing?
Wednesday, May 5, 2021 - 10:44am | 829Read More...A year after the global pandemic nearly zeroed out Class 8 truck orders, the reopening of the economy is stressing supply chains, making it unlikely that any of April's 33,500 orders will be produced this year. The situation is practically a repeat of 2018, when manufacturers produced 325,000...
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'Hemispheric Globalization' Could Boost El Paso Trade
Wednesday, May 5, 2021 - 10:42am | 1590Read More...FreightWaves recently chatted with Jon Barela, CEO of the Borderplex Alliance, about the port of El Paso's role in global trade and how the city can continue to capitalize on its location along the United States-Mexico border. The Borderplex Alliance is an El Paso-based economic development...
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Cloud-Payments Firm Gr4vy Announces $11.1M Funding
Tuesday, May 4, 2021 - 1:46pm | 1054Read More...From PayPal to Gr4vy, John Lunn, a leading executive with Paypal (NASDAQ: PYPL) during his time leading the company's Developer and Start-up Relations division, has come back to the payments business with a new firm, Gr4vy. After that stint in 2015-16, Lunn became a partner in PayPay Ventures...
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ArcBest's Capital Spending Plan Signals Confidence In Prolonged Freight Cycle
Tuesday, May 4, 2021 - 1:01pm | 778Read More...Management from ArcBest Corp. (NASDAQ: ARCB) said a "robust demand" environment has them already thinking about the 2022 capital expenditures budget during a call with analysts Tuesday. The company is looking to improve its capacity profile to capture the incremental freight demand in the market....
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Trucking Boom Propels Meritor To Higher Sales And Earnings
Tuesday, May 4, 2021 - 12:59pm | 514Read More...Commercial driveline supplier Meritor Inc. (NYSE: MTOR) reported higher sales and earnings for its fiscal second quarter despite a tough comparison with the year-ago period. The Troy, Michigan-based company reported sales of $993 million compared to $871 million in the year-ago quarter. Adjusted...
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Expeditors Paying More To Move Freight But Has Solid Quarter
Tuesday, May 4, 2021 - 11:41am | 635Read More...By this point in the earnings cycle, the trends are firmly established with what most transportation companies experienced in their finances during the prior quarter. Expeditors International (NASDAQ: EXPD) is no different. The asset-light logistics company, which is a member of the Dow Jones...
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Uber Teams With Arrival On EVs And Gopuff For Everyday Essential Items
Tuesday, May 4, 2021 - 11:38am | 1332Read More...Arrival, the U.K.-based electric bus and van manufacturer, has announced a deal with global ridesharing giant Uber to develop an electric car for ride hailing in the U.K. and Europe. Uber has a similar deal with General Motors (NYSE: GM) in the U.S., first announced in September 2020. The new deal...
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Weekly Fuel Report: May 4, 2021
Tuesday, May 4, 2021 - 11:36am | 81Read More...Learn more at SONAR.FreightWaves.com Image Sourced from Pixabay
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JD Logistics Approved For IPO; Spinoff Could Raise $4B
Tuesday, May 4, 2021 - 11:12am | 1067Read More...JD Logistics, the logistics entity for Chinese e-commerce leader JD.com (NASDAQ: JD), was approved for an initial public offering (IPO) by the Hong Kong Stock Exchange. The spinoff could raise up to $4 billion, following the lead of its sibling spinoff, JD Health International (HKG:6618), which...
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ArcBest Blows Past First-Quarter Expectations
Tuesday, May 4, 2021 - 11:09am | 579Read More...Logistics provider ArcBest Corp. (NASDAQ: ARCB) reported record first-quarter results Tuesday. Adjusted earnings per share were $1.01 compared to the consensus estimate of 58 cents per share and the year-ago result of 36 cents per share. Total revenue increased 18.2% year-over-year to $829 million...
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The Daily Dash: Navistar Conducts Second Recall
Tuesday, May 4, 2021 - 11:07am | 489Read More...The Daily Dash is a quick look at what's happening in the freight ecosystem. In today's edition, we highlight Navistar's Class 8 truck recall, a congressional report into COVID relief loans, a potential merger and more. The High Five 1. Navistar International Corp. is recalling certain LT and RH...
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Lufthansa Replicates Sharkskin To Boost Fuel Efficiency Of Cargo Jets
Monday, May 3, 2021 - 1:51pm | 834Read More...Lufthansa Cargo next year will cover its fleet of Boeing 777 freighters with a high-tech coating that mimics the structure of a shark's skin to reduce aerodynamic drag and fuel consumption, the company said Monday. The low-friction film consists of riblets measuring about 50 micrometers that...
