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HAMBURG, Germany — The sharp drop in freight prices following the pandemic has caused a slump in sales and profits at German container shipping company Hapag-Lloyd.

Although there are signs of progress, the largest delivery companies have scaled back climate pledges and the industry isn’t keeping pace with climbing emissions from a global demand surge.

UPS Inc. is reducing its overall employee head count by 12,000 workers, which the company says will save more than $1 billion, citing higher labor costs and softening demand.

Logistics startup Flexport Inc. plans to lay off hundreds of workers, according to a source — the company’s latest effort to reposition itself during a global shipping industry slowdown.

The Port of Baltimore for the 15th straight year has received a top U.S. Coast Guard security assessment for its six state-owned, public marine terminals.

Norfolk Southern’s Q4 profit fell 33% due to the ever-growing costs of the cleanup of last year’s derailment in eastern Ohio, but the railroad did deliver 3% more shipments in the quarter.

A surge in shipping costs due to turmoil in the Red Sea is pressuring Europe’s diesel supply chain, contributing to a sharp jump in fuel prices.

CSX Corp. experienced a slight decrease in year-over-year revenue during the fourth quarter of 2023, the company reported Jan. 24.

OMAHA, Neb. — Union Pacific’s fourth-quarter profit crept up 1% as the railroad delivered more fertilizer, imported goods and vehicles.