Ground Freight

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...

Cando Rail & Terminals, a Canadian railroad contractor, will 'buy U.S. competitor Savage Rail to expand its footprint in the U.S. The deal gives the?Manitoba based Cando an important foothold in the U.S. while it continues to build its rail terminals network and infrastructure across the country. The financial terms are not disclosed. Cando Rail and?Terminals is a logistics company that provides gasoline and diesel to energy companies in Canada as well as the United States. " Customers?on rail are transnational, whether they're in Canada or the U.S. We have a number of'similar' clients on the energy sector, said Brian...

C.H. Global logistics provider C.H. Robinson's CEO Dave Bozeman has dismissed the'recent sale' of shares tied to AI disruptions in the freight industry. He said that the race to adopt AI technology would lead to consolidation. C.H. C.H. Since the 14.5% drop earlier in this month, the?stock is up a little. In the afternoon of Monday's trading, it was down 6.1% to $178.44. The sale was triggered after Algorhythm Holdings, a company that specializes in AI technology, stated that their SemiCab platform helps customers increase 'freight volume by 300% to 400% without adding additional operational staff. Bozeman, in an interview...

CME Group received an application to list a warehouse of copper?in a Chicago suburb, according to a notice by?the U.S. commodity exchange operator. Kodiak Warehouse LLC applied to take Comex copper futures against CME in Lemont Illinois. According to a notice from?Thursday, the application was dated February 18. CME didn't immediately respond to an inquiry for comment. The CME website lists a number of storage locations, including the Kodiak facility. The total CME warehouse capacity in the United States is 1.1million short tons, and over half of this is in Louisiana. Sources say that even the New Orleans hub, which...

Investors awaited the minutes of the U.S. Federal Reserve's January meeting. As of 10:16 a.m., the S&P/TSX composite index was up 1.07%, at 33,249.83. ET. The tech sector of the TSX rose 2.5% after recent concerns over AI disruption. Investors are also waiting for the Fed's minutes from January, which will be released later in the day, to get clarity on its monetary policy. The metal mining index (which includes broader materials) advanced by 2.3%. After only two hours of peace talks, the Ukrainian president Volodymyr Zelenskiy accused Russia of trying to deliberately delay progress toward an agreement to end...

Stocks in trucking and logistic companies fell on Thursday, as investors feared that AI technology would increase competition for firms that rely on software. Landstar System, C.H. Robinson fell by more than 14 percent, while Dow Jones Transportation Average dropped 4%. Investors are concerned that the steep fall in logistics shares follows a recent drop in software stocks. They fear future AI products will cause fierce competition among established businesses, eroding their profit margins. These fears contrast with the optimism that has driven Wall Street to record-breaking highs over the past few years. Jeffrey Favuzza, a trader at Jefferies, wrote...

Italian high-speed train operator 'Italo' announced on Thursday that it will introduce SpaceX Starlink across its fleet, becoming the first major train company in the world to use the satellite connectivity service from low-Earth orbit. Elon Musk’s Starlink is gaining popularity among airlines that want to provide Internet access to their passengers. Other rail operators have also begun testing the system, but they are not yet ready to adopt it. Last year, the Italian state railway - Ferrovie dello Stato - ran a trial with two providers including Starlink. ScotRail, a Scottish rail company, also conducted a Starlink six-week trial...

David Armellini, owner of a Florida trucking firm, is paying an extra 20% for each additional driver he hires to transport fresh-cut Valentine's Day Flowers to wholesale florists and grocery distribution centers across the country. If sellers pass on the increased cost, it could result in a slight increase in price for a bouquet at this weekend. Armellini believes that it could be an indication of the end of the U.S.'s longest and deepest trucking slump. Shippers across the United States are paying more to truck flowers, ?fresh ?produce, and other temperature-sensitive cargo, after deep cold this winter hiked demand...

The companies announced on Wednesday that Union Pacific, a railroad operator, and Wabtec - a locomotive parts manufacturer - had signed a $1.2 billion agreement to modernize the AC4400 locomotives of the railway. The companies describe the agreement as "the largest locomotive investment in rail history." It is expected to begin deliveries by 2027. U.S. rail fleet replacement has been accelerated under the Biden administration, with infrastructure investments. Operators are replacing aging locomotives by more fuel-efficient and digitally enabled models. According to the companies, the fleet upgrade will reduce fuel consumption by more than 5% and increase locomotives' tractive efforts...

Penny, the 4-year-old Doberman Pinscher, was named Best in Show on Tuesday at the Westminster Kennel Club Dog Show, earning the United States' most prestigious dog competition?prize?. Penny made a magnificent stance during the final round of the judging when the finalists from seven groups competed in New York City’s Madison Square Garden. The working group champion beat over 3,000 dogs representing all 50 states as well as 17 different countries who competed at the 150th anniversary event. Each group's winner will advance to the finals. Andy Linton handled Penny, the Doberman that won Best in Show in 1989, when...

Old Dominion Freight Line announced a decline in profit and revenue for the fourth quarter on Wednesday. It was 'hurt' by lower volumes, as it navigates through a 'challenging environment. After the e-commerce boom of 2022, the U.S. trucking industry remains in a prolonged slowdown. U.S. carriers continue to be affected by low shipment volumes, excess capacities and weak domestic production. According to the Institute for Supply Management, U.S. Manufacturing PMI, which is a gauge for economic activity, recorded its tenth consecutive month of contraction when it reached?47.9 in December. The readings below 50 indicate shrinking activity. CEO Marty Freeman...

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....

Wall Street fell on Thursday as signs of weakness among regional banks frightened investors who were already on edge due to the U.S. - China trade tensions. Zions Bancorporation shares fell after the regional lender disclosed an unexpected loss in two loans made to its California division. This added to investor anxiety about hidden credit pressure as lenders navigate economic uncertainty while interest rates are still relatively high. Western Alliance's slump also fueled concerns about regional banks after it announced it had initiated a lawsuit for fraud against one of their borrowers. Investors were watching the S&P 500, which recently...

Matt Chamberlain, Chief Executive of the London Metal Exchange (LME), said that the LME is looking at a market consultation for amendments to the rules of the 450 warehouses it has around the globe. The LME has been introducing queue-based rent caps (QBRC), which limit rental income for registered warehouses at 80 days following the notice given by the owner of the metal to take delivery. The rule has unintended effects. The rule has unintended consequences. Traders who have contracts to deliver metal beyond 80 days can cancel warrants and get free storage. Meanwhile, consumers cannot access metal stored in...

Transnet's CEO announced on Thursday that a South African court had ordered China's CRRC E-Loco, which has been in a long-running dispute with Transnet, to release locomotive parts it had refused to provide. This decision is a boost to the plans of Transnet to improve its performance. Both parties are involved in a legal battle after Transnet halted 1,064 locomotives supplied by four original equipment manufacturers, including CRRC E-Loco. Transnet claimed that contracts for 2014 worth $54.4 billion rand (3.18 billion dollars) were illegally awarded by previous company leadership. Transnet reported that in 2023 161 locomotives provided by CRRC E-Loco...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Mexico is planning to increase import tariffs on almost 1,500 products including cars, steel, textiles and appliances to protect the domestic industry and job opportunities, particularly from cheap Chinese goods. This comes amid wider trade talks with both the U.S. Oracle has signed an unprecedented $300 billion cloud computing contract with OpenAI to support massive AI expansion starting in 2027. This is one of the biggest tech contracts ever, and signals a high-stakes wager on ChatGPT’s continued...

Two sources familiar with the matter said that JD.Com's property investment arm and two other firms are planning to launch a Singapore based real estate trust (REIT), with assets valued at potentially more than $1 billion. Sources said that JD Property (the unlisted infrastructure investment platform and asset management platform for JD.Com) is creating the REIT in partnership with Partners Group, a Swiss investment firm, and EZA Hill Property which is backed up by Asian investment firm Hillhouse. Sources who refused to name themselves because the matter was private said that the REIT plan could be listed at the Singapore...