Old Dominion Freight Line announced fourth-quarter and full-year results, reporting net income of $197.2 million, or $2.40 earnings per share, up from $68.5 million, or 83 cents, in the fourth quarter of 2016.
February 8, 2018Business
UPS Expands Cross-Border U.S.-Mexico Service With El Paso Facility
UPS Inc. began development of a $41 million facility in El Paso, Texas, to expand its work in the cross-border market along the Ciudad Juarez, Chihuahua, Mexico corridor. The 153,000-square-foot facility has been added to UPS Smart Global Logistics Network and will serve producers in the automotive, electronics, appliances and machinery industries. The facility is scheduled to begin operations this fall.
February 12, 2018Business
Alliance Shippers Names New Executives
Alliance Shippers Inc. made two executive appointments following the death of longtime president and co-founder Ronald Lefcourt in January, naming Ronald’s son, Jonathan, president and CEO and promoting Steven Golich to chief operating officer.
February 9, 2018BusinessTechnologyLogistics
BNSF Joins Group Aiming to Use Blockchain in Freight
BNSF Railway, which is owned by Warren Buffett’s Berkshire Hathaway Inc., said Feb. 5 that it has joined the Blockchain in Transport Alliance, a group of more than 200 freight and logistics companies that are exploring how to use the digital-ledger technology in their industry.
February 5, 2018BusinessLogistics
RoadOne IntermodaLogistics Merges with Robin Hood Container Express
RoadOne IntermodaLogistics reached a deal to bring Southeast drayage provider Robin Hood Container Express into its family of companies.
February 2, 2018Business
USA Truck Bounces Back in 4Q
USA Truck reported fourth-quarter net income of $14.8 million, or $1.84 per diluted share, on revenue of $83.8 million.
February 2, 2018Business
Industrial Vacancy Rates Fall to All-Time Low, Rents Rise
The vacancy rate in 2017’s fourth quarter for industrial space in the United States fell to an all-time low of 5%, down from 5.2% in the previous quarter, according to JLL, a research arm of real estate firm Jones Lang LaSalle. But industrial space is even more precious in top logistics markets like Los Angeles and Salt Lake City, where vacancy rates have fallen below 3%.
February 1, 2018BusinessTechnologyAutonomous
Driverless Udelv Cargo Vehicle Goes Live
An autonomous vehicle designed for last-mile deliveries and e-commerce returns conducted a live test Jan. 30 on public roads in San Mateo, Calif., driving a 2.5 mile loop from a grocery store to two customers.
January 31, 2018BusinessTechnologyEquipmentLogistics
Sequoia Capital Leads Group Pumping in Cash to Startup Next Trucking
Next Trucking has received $21 million in a round of financing led by Sequoia Capital, the freight marketplace startup announced Jan. 30.
January 30, 2018Business
Tiger Cool Express Adds Two New Executives
Refrigerated intermodal carrier Tiger Cool Express added two veteran transportation executives to its management team.
January 29, 2018