Ground Freight

QXO, a U.S. distributor of construction supplies, announced on 'Sunday that it would acquire the commercial roofing company 'TopBuild' for $17 billion. This is just one more acquisition in a string of?acquisitions? by Brad Jacobs and his billionaire business partner. In the deal, Connecticut based QXO announced that Florida based TopBuild shareholders could elect to receive either $505 in cash for each TopBuild stock held or 20.2 QXO shares. This is provided the transaction total is paid in approximately 45% cash and 55% shares of QXO stock. Calculations showed that the $505 cash payment represents a premium of 23.1% compared...

J.B. Hunt Transportation Services, a U.S. trucking company, reported on Wednesday a higher profit for the first quarter. Efforts to cut costs and improve volumes in key segments offset increased fuel prices. In aftermarket trading, shares of the company rose by 1.2%. After a four-year hiatus, the U.S. trucking sector showed signs of revival in early 2012. However, higher fuel prices?due the Middle East war have delayed the long-awaited turnaround. J.B Hunt's goal has been to reduce costs and increase efficiency during this time. Fuel surcharges are a way that the company, and other contract trucking companies in the U.S.,...

The massive copper stockpile at the U.S. Comex exchange The CEO of German copper manufacturer Aurubis stated on Tuesday that the reserves should be drained 'in a few months' as local demand picks up. Comex has 532,000 metric tonnes of copper - nearly a quarter the annual U.S. demand - because traders shipped metal to America last year in anticipation of tariffs. The inventories have not fallen much since February when they peaked at 546,000 tons. Last week, arbitrage shipping copper to Comex was opened again. Toralf Haag, CEO of Aurubis, said: "I believe it's an issue with supply security."...

More than 3 million U.S. trucks that move goods from factories, to grocery stores and construction sites, are facing the highest diesel prices for years. This is adding pressure to the industry because the Iran War-related spikes in oil prices threaten to reduce freight demand. Since the start of the Iran War, the Strait of Hormuz has been a vital artery of global energy flow. The price of diesel, which is used to fuel trucks, has increased by $1.89 or 50%. Diesel and gasoline prices also soared as crude oil prices, the basis for both, rose. This led to higher...

FedEx announced 'on Monday that Chief Financial Officer John Dietrich will step down, effective June 1, after the parcel company completes the spin-off of FedEx Freight as a publicly listed company. Claude Russ will serve as interim CFO while the board searches for Dietrich’s successor. Dietrich's tenure will last until July 31. FedEx announced the spin-off of its trucking division, in December 2024. This was part of a restructured operation to concentrate on 'its core delivery business. The divestiture should be complete by June 2026. FedEx also confirmed on Monday its adjusted profit projection for the fiscal period ending May...

FedEx Freight said on Wednesday that it expected average core profit growth in the range of 10% to 12% over the long term. This comes ahead of its first investor day, as the trucking giant nears the much-anticipated separation from its parent. FedEx's freight trucking division is on track to separate from the delivery firm?on 1 June into a publicly listed company. FedEx announced the move in December of 2024. Analysts claim that FedEx Freight assets were not fully appreciated by FedEx, and that it will expand if it is a separate public entity. The inaugural Investor Day is expected...

MercadoLibre, an e-commerce company, said that it would invest?57 billion reais (about $10.9 billion) in?its main market Brazil this coming year. This is a 50% increase from 2025. MercadoLibre stated that the money, which includes operating costs and expenses will primarily be used to expand its logistics, strengthen its ecommerce marketplace platform, and?increase its credit portfolio for its fintech Mercado Pago. The company, based in Uruguay, but relying on Brazil for more than half of its revenues, plans to expand 14 fulfillment centers in Brazil this year. This will bring the total number up to 42. MercadoLibre said it would...

As trucking capacity is tightening and road haul rates are rising, U.S. rail companies such as CSX Corp., Union Pacific and BNSF are attempting to capture freight from trucks. Low trucking rates and increased flexibility allowed road carriers to capture cargo that would have otherwise been transported by rail. This weighed on?rail volume and limited pricing power. This?dynamic has now shifted, at least temporarly. Freight ?broker ?C.H. Robinson stated that trucking capacity is decreasing as small carriers leave the market, and as federal scrutiny of driver licenses, safety and insurance requirements increases. This added pressure reduces the supply of drivers...

The U.S. Postmaster General David Steiner said in an interview that the Postal Service will hire restructuring advisers to address its mounting financial problems. In December, we reported that Steiner believed the Postal Service would run out of cash as soon as 2027. USPS reported net losses of approximately $120 billion between 2007 and now as the volume of first-class mail has dropped to its lowest level since late 1960s. Steiner stated that USPS engaged consulting firm Alvarez & Marsal to assist with planning for any scenario. Steiner said on Thursday that if we don't change anything, "we will run...

Ford Motor Company announced Thursday that it will recall 4.3 million SUVs, pickup trucks and pickups in the U.S. because of a software error which could cause exterior lights and trailer brakes to stop working. The recall includes the F-150 from 2021 to 2026, the F-250 SD from 2022 to 2026, the Lincoln Navigator, Expedition and Maverick, as well as some Ranger, E-Transit, and Lincoln Navigator vehicles. The Integrated Trailer module may not be able to communicate with the vehicle when towing a?trailer. This could lead either to a loss in brake or turn signal 'lights,' or a complete loss...

The demand for its customs brokerage services helped Expeditors international of Washington to report a profit and revenue in the fourth quarter that exceeded Wall Street expectations. Customs clearance costs have increased as businesses adjust to new tariff rules and comply with compliance requirements. This has boosted demand for brokerage companies like Expeditors and driven up the cost of customs clearance. The demand for customs brokers remained high, reflecting the complexity of the work and the volume. CEO Daniel Wall added that the company planned to increase investments in technology including AI-driven tools to improve efficiency. Wall said that in...

The Canadian rail contractor, Cando Rail & Terminals, will purchase the U.S. Cando announced Monday that it would be purchasing the rail assets of Savage Enterprises to expand its presence across the U.S. The financial terms are not disclosed. The deal gives Cando, based in Manitoba, a strong foothold in the United States while continuing to expand its infrastructure and network of rail terminals in the country. A source familiar with the transaction said that it was a deal worth more than $1 billion. The Canadian and American energy companies rely on Cando Rail & Terminals to provide logistics services...

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...

Trafigura filed a $600 million lawsuit against Indian businessman Prateek gupta in London's High Court over fake nickel cargoes on Monday. The commodities trading company claimed it had been the victim of an extremely large fraud. Trafigura, a Geneva-based company, alleges Gupta is the mastermind behind a fraud that it discovered in November 20,22 when it examined some containers that were meant to contain high grade nickel. Trafigura inspected the containers and found that they contained carbon steel, which was worth only a fraction of what nickel is worth. Trafigura then carried out more inspections and incurred a $590-million charge....

The London Metal Exchange said Thursday that it intends to set permanent rules imposing restrictions on members who have large positions in contracts near them due to low inventory levels. Hong Kong Exchanges and Clearing Ltd., the world's largest and oldest market for industrial metals which is owned, placed temporary restrictions on June following a spike in premiums for copper contracts near by. LME stated that these measures were implemented in response to a low-stock situation combined with large positions in nearby dates. This had led the LME Special Committee to instruct market participants to reduce their large on-exchange position....