Freight Logistics

For the very first time, Canada's. 2 primary railway companies Canadian National Train. and Canadian Pacific Kansas City are on the edge of a. synchronised labor stoppage that could cause billions of. dollars' worth of economic damage. WHY ARE BOTH BUSINESS POISED TO STOP? Contract talks between the Teamsters union and the business. typically happen a year apart, but in 2022, after the federal. government introduced brand-new guidelines on tiredness, CN requested a. year-long extension to its existing offer rather than negotiate a. new one. This indicated both business' labor arrangements expired at the. end of 2023 and talks have...

Canada's 2 primary train companies and the Teamsters union must do the hard work needed to reach labor offers and avoid a full stoppage, federal Labour Minister Steve MacKinnon said on Monday. In a post on the X social network, MacKinnon stated Canadian National Train and Canadian Pacific Kansas City would shut down early on Aug 22 unless offers were reached. MacKinnon said the impacts of the talks would be borne by all Canadians. The parties should do the hard work required to reach contracts at the bargaining table and prevent a complete work stoppage, he stated. Canada relies greatly...

Canadian National Railway , among Canada's 2 main rail business, officially notified the Teamsters union in Canada on Sunday that it would begin locking out union workers early on Thursday. Unless there is an immediate and certain resolution to the labour conflict, CN will have no option but to continue the phased and progressive shutdown of its network which would culminate in a lockout, it stated in a declaration. Despite negotiations over the weekend, no meaningful progress has actually happened, and the celebrations remain extremely far apart. Canada's other main rail operator, Canadian Pacific Kansas City, has actually already told...

Canadian Pacific Kansas City stated on Saturday it would halt any new rail shipments coming from Canada, and all brand-new U.S. deliveries predestined for Canada starting on Tuesday if talks with its Canadian labour union fail to progress. North American industry groups and carriers are bracing for an unprecedented simultaneous stoppage at both of Canada's primary train companies that might disrupt the motion of products such as coal, potash, crude oil and grains, and made items varying from cars and trucks to chemicals. The Teamsters union's talks with Canadian National Train and CPKC have actually deadlocked, and the rail business...

North American market groups and carriers are bracing for an extraordinary synchronised interruption at both of Canada's primary train business that might inflict billions of dollars' worth of economic damage. Canada is the world's second-largest country by location and relies heavily on trains to transport grain, beans and other dried seeds of bean plants, potash, coal, vehicles and other products. It's a catastrophe. Actually absolutely nothing would move, said Greg Northey, vice president of public affairs at Pulse Canada. Talks between Canadian National Train and Canadian Pacific Kansas City on one hand and the Teamsters union on the other have...

Canadian public pension fund OMERS and DWS Group reached a deal to get Grandi Stazioni Retail, the two investors said on Tuesday. The offer values Grandi Stazioni Retail, owned by Antin Facilities Partners, ICAMAP and Borletti Group, at in between 1.2 and 1.3 billion euros, according to an individual with knowledge of the offer. The company handles the commercial and advertising leasing spaces in 14 train stations in Italy. The stations get over 800 million visitors a year, OMERS, or Ontario Municipal Employees Retirement System, and DWS stated in a joint statement. We're thrilled to obtain Grandi Stazioni Retail, which...

The logistics provider, Expeditors of Washington (Washington), reported on Tuesday a profit that was below Wall Street expectations. This is due to low demand as well as geopolitical issues affecting its ocean and air freight divisions. Seattle-based airline company, American Airlines, said the increase in demand for e-commerce strained the capacity of its air market, and the tensions on the Red Sea affected its ocean-routing unit. "We've continued to adapt to disruptions and unbalanced demand. We have kept costs under control while working to restore efficiency to historical expectations," Expeditors Chief Executive Officer Jeffrey Musser stated. Net income for the...

Cold storage property financial investment trust Lineage said on Tuesday it was aiming for an assessment of as much as $19.16 billion in its U.S. going public, in what would be this year's biggest listing. The REIT, backed by personal equity company Bay Grove Capital, is intending to raise approximately $3.85 billion by offering 47 million shares at a cost series of $70 and $82 each. The suggested share sale could potentially go beyond cruise operator Viking Holdings' $1.54 billion offering, according to LSEG information. Family tree's story began in late-2008 with the acquisition of a. cold storage warehouse, Seafreeze,...

Yemen's Houthis said early on Sunday that they had conducted a joint military operation with the Islamic Resistance in Iraq militant group, targeting four ships at Israel's northern Haifa port. The Houthi military spokesperson, Yahya Saree, stated in a. telecasted statement that the 2 groups released a drone attack. on two cement tankers and two freight ships at the Haifa port on. Saturday. He said the ships belonged to companies that breached. the restriction on entering the ports of occupied Palestine. The Israeli armed force did not right away comment, however. it had actually formerly rejected a similar claim by...

For the very first time, Canada's. two primary train business Canadian National Train. and Canadian Pacific Kansas City are on the edge of a. simultaneous labor blockage that could cause billions of. dollars' worth of economic damage. WHY ARE BOTH BUSINESS POISED TO STOP? Contract talks in between the Teamsters union and the business. generally take place a year apart, but in 2022, after the federal. federal government presented new guidelines on tiredness, CN requested a. year-long extension to its existing deal rather than negotiate a. new one. This implied both business' labor arrangements ended at the. end of 2023...

Canadian transport services supplier Ryder Systems stated the trucking market ought to be able to deal with a dive in freight volume in the event of a rail strike, though it signified that the cost of shipping may boost. The Canadian industry is on tenterhooks as talks in between the Teamsters union, which represents more than 9,000 employees, and the country's two biggest railways - Canadian National and Canadian Pacific Kansas City - drag on over a brand-new contract. Labor Minister Seamus O'Regan in May referred the conflict to the Canadian Industrial Relations Board (CPKC) guaranteeing that a. possible walkout...