CBS reports: “From the unending roar of jet engines to the constant hum of conveyor belts, it’s beginning to sound a lot like Christmas at UPS Worldport, in Louisville, Ky. The shipping company expects to deliver around 800 million packages this holiday season. UPS’ main package sorting facility is working around the clock, processing 115 packages a second. Wednesday may be its busiest day ever, with 37 million deliveries. That’s more than ...
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CNBC reports: “Oil prices fell on Monday on signs of oversupply in the United States and as investor sentiment remained under pressure from concern over the prospects for global economic growth and fuel demand. Brent crude oil was down 66 cents, or 1.1 percent, at $59.62 per barrel by 11:48 a.m. ET (1648 GMT), after earlier rising as high as $61.21. U.S. light crude fell $1.12, or 2.2 percent, to $50.08, ...
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Zero Hedge writes: “For the second month in a row, homebuilder optimism crashed amid broad-based declines across sales, expectations and buyer traffic (down 4 to 56 and well below the 60 print expected) as hope begins to collapse back to the housing market’s reality…”
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Volga-Dnepr is moving closer to its “cargo supermarket” concept, by which it would offer its full range of shipments, from generators to small packages.
Its latest move, an MoU with Alibaba’s logistics arm, Cainiao, to develop a cross-border shipment network, will cement its e-commerce business.
Cainiao Smart Logistics Network will form a partnership with the Russian air freight group to develop different projects: Volga-Dnepr Group will guarantee access to its network and 41-aircraft strong ...
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The prospect of unmanned container vessels serving global container supply chains took another step forward today.
Sea Machines Robotics, a US developer of autonomous vessels, announced it had raised $10m from venture capital funds.
The investors were led by Accomplice VC and Eniac Ventures, but also include Toyota AI Ventures, TechNexus Venture Collaborative, NextGen VP, Geekdom Fund, Launch Capital and LDV Capital, and brings Sea Machines’ external funding up to $12.5m.
Boston-headquartered Sea Machines, which ...
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The UK government is calling for industry input into its new aviation strategy, pledging a commitment to remove or reduce “unnecessary barriers” to air freight growth.
With the publication of Aviation 2050: The Future of UK Aviation, Whitehall also says digitisation is at the heart of its freight strategy.
The report says: “Working alongside industry, the government has set up the Digital Cargo UK Board to facilitate work to improve the digitisation of the sector, for example ...
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The number of exhaust gas cleaning systems (scrubbers) being installed on containerships is gathering pace, according to Drewry.
It now accounts for 10% of the global fleet by teu capacity, and more than 40% of newbuild vessels are being fitted with the onboard fuel refineries.
Currently there are 266 boxships fitted with scrubbers, for an aggregate capacity of 2.2m teu, led by MSC with 46% of its operating fleet and Evergreen with 21%.
Both ...
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When I wrote last week that XPO Logistics could be a takeover target, it was hard to imagine that, in less than 48 hours, the stock would be hammered as short-sellers opportunistically attacked what was an already wounded soldier.
The timing of Spruce Point Capital Management’s note was questionable, but XPO replied a day later, on Friday, by announcing a buyback of up to $1bn.
If anything, these latest events made me wonder who ...
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The South China Morning Post is reporting that the trade war between China and the US is proving beneficial for German companies. Chief executive of Deutsche Bank in the Asia-Pacific Werner Steinmeuller has pointed to an expansion in its operations in the people’s republic with increased investments in technology and new staff. He says there has been a “clear advantage” for both German and Chinese firms from the tensions with the ...
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Lufthansa subsidiary Time:Matters has appointed Lars Krosch as its new managing director and chief operating officer.
Mr Krosch is an internal appointment and will move into this new role from his previous one as vice president of sales and product development.
A Time:Matters veteran, he has been with the company, now under the wings of Germany’s flag carrier, since 2009, in a variety of managerial positions.
Chief executive Alexander Kohnen welcomed the appointment, describing ...
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