Ground Freight

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...

U.S. president Donald Trump announced on Friday that he will increase tariffs to 25% on?cars?and trucks imported from the European Union, claiming the bloc has not adhered to its trade agreement with Washington. In a post on social media, he said: "Based on the European Union not adhering to our Trade Deal fully agreed upon, I will increase Tariffs for Cars and Trucks entering the United States next week." It is understood and agreed by all that there will be no tariff if the Cars and Trucks are produced in U.S.A. Plants." Trump told reporters in the White House that...

Union Pacific and Norfolk Southern submitted a revised merger request?with the Surface Transportation Board on Thursday, requesting approval for an $85 billion tie up to create the United States' first coast-to-coast rail freight operator. Railroads claimed that the deal would save shippers $3.5 billion per year. The railroads said that the deal would increase service reliability, divert truck freight to rail, maintain shipper options, and deliver "broad public benefits" while protecting union jobs. A number of groups including freight shippers, who are concerned about higher rates, and attorneys general from some states have raised concerns over the proposed merger. Former...

MARA Holdings announced on Thursday that it would 'buy Long Ridge Energy & Power for $1.5 billion, including debt. This is a major step in the bitcoin mining company's efforts to reposition itself as a digital energy and infrastructure company. It is one of the biggest companies in the world that mines and holds bitcoins. Now, as AI advances and demand increases, it has shifted its focus to digital infrastructure. MARA's previous focus on cryptocurrency is complementary to its revised strategy. However, it is looking more to energy assets in order to have enough power to develop data centers. IDEAL...

Australia's?AirTrunk?said Thursday that it would invest $3 billion in?building two hyperscale?data?centers?in Malaysia, doubling its existing business there. The two data centres, which will be located in Johor Bahru have a combined power of over 280 megawatts. They are also close to the existing AirTrunk data center campuses. AirTrunk said that the four data centers would have a capacity of more than 700 Megawatts and the investment value in Malaysia will be $6.8 Billion. AirTrunk CEO Robin Khuda said that the demand for cloud-based AI infrastructure in Asia-Pacific was growing faster than expected. "Our job is not only to be ahead...

Freight forwarding firm C.H. Robinson's 'first-quarter' profit surpassed Wall Street expectations on Wednesday. It was helped by its use of AI agents to reduce costs. This sent its shares up 4% after-hours. In the past few quarters, there has been a reduction in the number of employees and an increase in the use of artificial intelligence to perform routine functions such as pricing shipments and monitoring cargo while it is in transit. This approach has helped the largest U.S. trucking firm to keep its margins more insulated against a prolonged slump in demand, which has affected rates and most trucking...

A coalition of business groups, rival railways, and organized labor, announced on Wednesday that they oppose Union Pacific's proposed merger with Norfolk Southern. This comes just a day before the two are set to submit a revised application at the Surface Transportation Board. The American Chemistry Council, American Farm Bureau Federation and Teamsters Rail Conference are part of the coalition, which also includes BNSF Railway and CPKC Railway. Alliance for Chemical Distribution and National Industrial Transportation League are also members. This deal will create the nation's first coast-to-coast rail freight operator. It could also reshape America's freight industry by helping...

Walmart announced on Wednesday that it had opened a third milk processing plant in the United States, with an investment of more than $350m. This is part of a decade long effort to strengthen its perishables supply chain. The 'facility' in Robinson, Texas will process and bottle all sizes and types of milk for Sam's Club's Member's Mark and Great Value private label brands. Walmart says the facility will create 400 new jobs. The company will supply more than 650 Sam's Clubs and Walmart stores in the South Central U.S. Retail bellwether?has approximately 5,200 stores and club across the U.S....

Old Dominion Freight Line, a trucking company, reported a first-quarter profit that exceeded analysts' expectations on Wednesday. Improved pricing offset the impact of lower shipment volumes. Old Dominion, one of the biggest 'less-than truckload?firms, said that its revenue per shipment, which is a measure for pricing, increased 5.9% in the third quarter. J.B. Hunt, a contract trucking company, said earlier this month that it had seen'signs of recovery' in trucking rates. This was due to a tightening up of regulations governing truckload capacity, which included a restriction on commercial driver licenses for non-U.S. residents. This led to the departure of...

Old Dominion Freight Line, a trucking company, reported a?decline?in its first-quarter profits on Wednesday. This was attributed to?lower shipment volumes. However, the firm highlighted an improvement in pricing. U.S. trucking companies have been stuck in a lull for a long time as an excess of supply has driven down rates, while operating expenses continue to rise. The challenges faced by these companies have intensified over the last year, as the uncertainty surrounding the Trump administration's changing trade policies has exacerbated the decline in volumes and the weakening of demand. J.B. Hunt - a contract trucking company - had said earlier...

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...