Ground Freight

Investors are uncertain as the major U.S. indexes closed more than 1% down on Wednesday. Chipmaker shares have continued to decline and renewed tensions between?the U.S. After one of the largest exchanges of gunfire overnight in the Middle East War since April, President Donald Trump announced that the U.S. will attack Iran "very hard". Nvidia, Broadcom and other semiconductor companies were the main drags on the S&P 500. Investors are concerned about the stretched valuations in the semiconductor sector. The Cboe Volatility Index has advanced for the second consecutive day. In recent days, volatility has increased. Tom Hainlin is an...

Two U.S. Senators proposed Tuesday to 'end' the 12% federal excise tax for heavy-duty trucks. They said that this could increase sales of cleaner, newer models. Republican Senator Todd Young, and Democrat Senator Angela Alsobrooks, noted that the tax "adds between $15,000 and $30,000 to the price of a new heavy truck, trailer or semi-trailer chassis and tractor" and encourages the continued use of older vehicles. Engines from before 2010 are found in about?one fifth of the largest trucks on the roads. Alsobrooks stated that the bill would support "a modern trucking sector, allowing the adoption of newer trucks which...

FedEx Corp announced on Monday that FedEx Freight had?completed a spin-off from the parent company. This paved the way for its trading debut at the New York Stock Exchange, under the symbol FDXF. After announcing that the FedEx Freight division was completed, shares of FedEx rose 2.2% during premarket trading. FedEx Freight, the U.S.'s largest provider of services less than truckload, is the world's leading company in this sector. Its independent debut comes at a moment when the freight rate could 'emerge from a slump of four years, due in part to operators leaving the market because they suffered a...

FedEx Freight, the spin-off of?FedEx Corp., will begin trading on the New York Stock Exchange Monday under the symbol FDXF. FedEx Freight is the largest provider of less than truckload services in the U.S. Citizens only. Fadi Chamoun, analyst at BMO Capital Markets, said recently that the company, as a newly-separated, pure-play, offers a significant margin improvement opportunity. However, this depends heavily on execution. Chamoun said that the improvement depends on management’s ability to?translate network advantages into better service quality, higher revenues per shipment and sustained operating ratio improvements. J.P. Morgan analyst Brian Ossenbeck stated that he values FedEx Freight...

The U.S. Surface Transportation Board announced on Thursday that it had paused its review of Union Pacific's and Norfolk Southern's $85billion merger application, as it sought a?larger?amount of information from the companies. In morning trading, shares of Union Pacific dropped 4.2% while Norfolk's fell 5.4%. STB, who has exclusive jurisdiction for railroad mergers, said that the companies' merger request had been accepted but that proceedings, including environmental review, were put on hold. The Department of Justice may provide non-binding legal advice. The STB stated that "Several aspects of revised application are unclear or underdeveloped, and need to be supplemented at...

Two industry sources have confirmed that Trafigura, the commodity trader, plans to remove large amounts of copper from London Metal Exchange's warehouses in New Orleans. They cited a U.S. Tariff decision expected late in June. Trafigura, a Swiss company, declined to comment. The traders have moved large volumes of copper into the United States to prepare for possible import taxes that could increase shipping costs. The threat of import levies has increased the value for existing copper stocks, as holding copper in the United States allows customers to lock in supplies at pre-tariff rates. After a review, the United States...

The White House on Friday urged legislators to pass rail safety legislation that has been stalled for years after a 2023 derailment in Ohio of a Norfolk Southern-operated locomotive caught fire, releasing over?a?million gallons hazardous materials and pollutants. The fate of the bill is uncertain despite support from President Donald Trump, many Democrats and railroads. Many Republicans and Democrats in Congress are also opposed to it. The U.S. House Transportation and Infrastructure Committee will be debating the five-year, $580 billion highway plan on Thursday. They are also considering adding a bill to improve rail safety. This would include stricter rules...

Three sources with knowledge of the matter said that the European Union has shortlisted tungsten and rare earths for its first joint stockpile. The goal is to reduce its dependence on China. One of the sources, and a third source, said that the EU was also in talks with Rotterdam, the largest port in the Netherlands. This is one of the most concrete measures taken by the EU to protect its economy from Beijing, which has a 'dominance' in the production of critical minerals that are vital to defence, semiconductors and energy transition. After Beijing's export restrictions sent shockwaves throughout...

U.S. House members proposed bipartisan legislation requiring electric vehicles to pay $130 annually for "road repairs" and $35 per plug-in hybrid model. The 'House' is working on a bill to reauthorize the highways for five years, allowing $580 billion in funding before the expiration of current legislation on September 30. The majority of federally-funded road repairs are funded by diesel and gasoline tax revenue, which EVs don't pay. The law requires that the fee?be increased by $5 each year beginning in 2029, up to a maximum of $150 for EVs and $50 plug-in cars. The U.S. House Transportation and Infrastructure...

FedEx announced on Wednesday that it would give its shareholders a share of the trucking company it is selling for every two shares they hold in the parcel delivery firm. FedEx Freight will be listed as an independent company at the New York Stock Exchange under the symbol "FDXF" on June 1. FedEx Freight is the U.S.'s largest provider of "less-than truckload" services. The company lists its list at a moment when the rate for truckloads has improved, and federal regulators have severely restricted commercial driver licenses for non-citizens. Most trucking executives, however, have stated that they have yet to...

Cummins raised its revenue forecast for the year?on May 5, supported by a?resilient market for its power generation equipment, and expectations of an improving North American on-highway vehicle market. In premarket trading, shares of the U.S. truck engines maker rose 4%. The company's revenue forecast for 2026 is now 8%-11% higher than its previous estimate of a 3%-8% growth. Generator sales were boosted by demand tied to the artificial intelligence-driven expansion of data centers. The CEO of?Rumsey stated that the North America truck market?began improving from a low cyclical level" during the third quarter. The Indiana-based firm had earlier?flagged a...

Amazon.com announced on Monday that it would be launching "Amazon Supply Chain Services", which will allow other businesses to access its logistic network. The company announced that businesses of all sizes and types can now store, move and deliver anything from raw materials to final products, using Amazon's supply-chain network. This includes freight, fulfillment and distribution, as well as parcel shipping. In premarket trading, UPS and FedEx shares fell by 1.5% and 2.5% respectively. Amazon announced that Procter & Gamble and American Eagle Outfitters, both apparel firms, were among the earliest to sign up for a supply-chain service. Amazon has...

A senior official revealed that the Africa Finance Corporation, the lead developer of the U.S.-backed Lobito mineral transport corridor, is in discussions with at least 10 African and foreign financiers including Citigroup to raise $3-5 billion for this project. The AFC has begun preparing for the construction of a key transport project, which will combine existing and new railway lines to link copper and cobalt mining areas with?Angola’s Atlantic port of Lobito. The project is a part of Washington’s effort to curb Chinese influence and secure access to strategic metals, minerals, and coal in Africa. AFC is currently in discussions...

Standard Chartered Bank announced on Tuesday that it had successfully arranged a $2.33billion syndicated finance facility?for a Standard 'Gauge -Railway?Project?in Tanzania. The money will be used to finance two stretches on a planned 1,219 km rail line linking the port and commercial capital of Dar es Salaam with?the lakeside town of Mwanza. The bank said that Yapi Merkezi, a Turkish company, and China's China Civil Engineering Construction Corporation would be responsible for the work. The bank added that funding was obtained from commercial banks, export credit agencies and development finance institutions. The bank said: "The construction of the Standard Gauge...

A source said that?truckers blocking access to the terminal in Argentina's Quequen port, who were demanding higher freight rates, caused at least 10 vessels to be delayed on Tuesday. Source: "No trucks entering with grain. We are completely paralyzed." Source: The protest was'staged by truckers camped along the road leading to the port. They are blocking grain trucks from passing while they negotiate tariff increases with grain storage companies and farm producer groups,' the source stated. In 2025, Quequen in the Buenos Aires province loaded 2.4 millions metric tons (that's 20%) of soybeans, which is equal to the oilseeds exported...

CME Group, the U.S. commodities trading exchange, has approved its first base metal storage facility in Hong Kong. This is a move to expand its warehousing footprint in Asia. CME said in a Friday statement that it had approved GKE Metal Logistics’ application to store aluminium, lead and deliverables against Comex aluminium futures and lead 'futures' in the Chinese Special Administrative Region. The statement stated that the GKE site has a storage capacity of 6,500 metric tonnes for both aluminium and lead. In 'February, it was reported that the CME would?approve the storage facilities in Hong Kong and Taiwan in...

Senior officials have said that South Korea may extend driving restrictions to the public if global oil prices continue to rise. This is because authorities are trying to curb energy demand amid supply constraints due to the U.S./Israeli war against Iran. Finance Minister Koo Yon-cheol'said 'on Sunday that the government may expand restrictions on the use of passenger cars beyond public institutions if oil prices increase to $120-$130 a barrel, from the current range of $100-$110. The policy, if it were to be extended to all citizens, would mark the first national driving restrictions since 1991, when the government implemented...

The logistics of one of the main export hubs in the world for soybeans are being overwhelmed by a record harvest. Backlogs for soybeans being moved from the world's biggest producer and exporter highlight ongoing logistical challenges in Brazil's agriculture supply chain. A large portion of Brazil's soybean harvest is headed for China. It's a shame here in Miritituba," said trucker Jeferson Borges da Silva who, after driving 1,200km from Mato Grosso waited for a?30 km (20 mile) queue. "We have been waiting in line for 2 days, this was the worst year yet." Miritituba is a crucial transshipment point...

The 'London High Court' refused to allow Indian businessman Prateek gupta, who was found guilty of defrauding commodities trader Trafigura by using fake nickel cargoes. The Geneva-based 'Trafigura' alleged that Gupta had been the mastermind behind a fraudulent "Ponzi Scheme" where he and his firms agreed to deliver high-quality nickel 99.8% but delivered low-value materials or even worthless ones instead. Gupta admitted he didn't deliver high-grade Nickel cargoes, but said Trafigura?staff designed the scheme. Former Trafigura head nickel trader Sokratis Oikonomou denies this. Last month, Judge Pushpinder Saini found that Gupta's companies and Gupta had induced Trafigura to sign contracts...

Three sources who are directly familiar with the matter have confirmed that CME Group will approve Taiwan and Hong Kong to be warehouse locations for aluminum. This is as the U.S. commodity exchange intensifies its competition against the London Metal Exchange (LME) Asia. The new locations planned would be a major expansion for CME, as the region accounted last year for two thirds of the global production of metals used in packaging and transportation. CME's Asian warehouse footprint is currently limited to Malaysia, Singapore and South Korea. C. Steinweg and Pacorini Global Services, warehouse operators in Taiwan's port of Kaohsiung...

Data from the London Metal Exchange showed that in January, the share of China-made metal in available London Metal Exchange stock fell as metals from other Asian nations, South America, and?Africa flooded in. Available copper inventories The?LME?is at its highest level since late February 2025, as it has become the preferred place for traders to store metals in the U.S.A. and Asia. Data showed that the percentage of copper stocks of Chinese origin in LME's warehouses - those on warrant or available - was 70% at the end last month. This is down from 79% in December. A LME warrant...

Zelostech, a Chinese robovan company, announced on Thursday that Alibaba's logistics division, Cainiao will take a stake. The Wall Street Journal reported on the deal first. A spokesperson for the robovan developer said, "Cainiao won't become a controlling shareholder of Zelostech." A robovan, or fully autonomous electric vehicle designed for freight, is an example of this. Zelostech Z10 can carry a load up to 1.5 tonnes. Zelostech's email stated that "Zelostech has entered into a deep integration with Cainiao’s autonomous-driving division, and are jointly building a RoboVan Super Carrier for the unmanned cargo sector." The company stated that Cainiao will...

United Parcel Service, the largest package delivery company in the world, announced on Tuesday that it will close 24 additional facilities and eliminate up to 30,000 positions by 2026. This is due to its ongoing shift towards a'more profitable business. In midday trading, shares of the company rose 4%. The company also announced fourth quarter results that exceeded Wall Street expectations and forecasted a surprise increase in annual revenue. FedEx shares gained 2.6%. Carol Tome, CEO of the company, said in a conference with analysts that the company plans to reduce Amazon deliveries. "We are now in the last six...

Hong Kong and the Shanghai Gold Exchange struck a deal Monday to establish a central clearing system for gold, as well as to expand the warehousing capacity to support the city's market. The precious metal has reached a record price of $5,100 per ounce. The agreement signed between Hong Kong's Financial Services, the Treasury Bureau, and the Shanghai Gold Exchange at the Asian Financial Forum formalised the governance for the new Hong Kong Precious Metals Central Clearing Company. This system will begin its trial operation this year. The government announced that Hong Kong's airport authority - which runs the city’s...