Ground Freight

U.S. railway operator Union Pacific reported a 9% rise in thirdquarter earnings on Thursday, as greater shipments and rate walkings offset declines in coal freight volumes. The company's earnings rose to $1.67 billion, or $2.75 per share, in the quarter, from $1.53 billion, or $2.51 per share, a. year previously. The Omaha-Nebraska based company took advantage of higher grain. and intermodal volumes, which were led by a strong harvest. season and greater west coast imports. The railway has said it handled record intermodal volumes. in August at the ports of Los Angeles and Long Beach as carriers. moved freight to...

U.S. selfdriving truck company Outrider stated on Thursday it had actually raised $62 million from financiers to scale up autonomous truck services in circulation backyards for consumers in ecommerce, manufacturing and other industries. The Series D funding round was led by Koch Disruptive Technologies, the equity capital arm of commercial corporation Koch Industries, and American equity capital fund New Business Associates (NEA). It also consisted of fresh financial investments from Nvidia's. venture capital arm NVentures, and Prologis' venture. capital arm. With the current financing, Brighton, Colorado-based Outrider. has raised more than $250 million. Outrider's system utilizes self-driving electric lawn trucks....

Old Dominion Freight Line reported a fall in its thirdquarter profits and revenue on Wednesday, injured by lower volumes since of weak freight demand. Shares of the Thomasville, North Carolina-based less-than-truckload (LTL) carrier, which caters to companies in the retail, production, automotive and health care sectors, were down almost 3% before the bell. LTL business operate by bring multiple deliveries from various consumers on a single truck, which are then routed through a network of service centers where they get transferred to other trucks with comparable destinations. Old Dominion managed an overall of 2.2 million tons of shipments in the...

U.S. railroad operator Norfolk Southern reported thirdquarter revenue and earnings above Wall Street estimates on Tuesday, helped by strength in its merchandise and intermodal segments. Shares of the company rose 3.6% in early trading. Improving intermodal volumes, higher-than-inflation rates and a better operating ratio have assisted the railroad guard success even as the freight market continues to go through a downturn. Atalanta, Georgia-based Norfolk Southern reported an adjusted operating ratio of 63.4%, representing a 570 basis point improvement from a year earlier. The ratio is an acutely watched metric that indicates business expenses as a percentage of earnings. A higher...

The following are the top stories in the Wall Street Journal. Reuters has not validated these stories and does not attest their accuracy. - Pittsburgh based paint and coatings maker PPG stated on Thursday that it consented to offer its architectural-coatings service in the U.S. and Canada to private-equity firm American Industrial Partners for $550. million. - U.S. railway firm CSX stated on Thursday that it. received a subpoena from the Securities and Exchange Commission. over an accounting restatement disclosed in the railroad. company's second-quarter revenues report. - Boston based consultancy firm, Bain & & Co, said on Thursday. that...

U.S. railroad operator CSX reported thirdquarter revenue below Wall Street estimates on Wednesday, as lower coal volumes balance out take advantage of stronger pricing, sending its shares down 3.4% in after the bell trade. Domestic coal demand has actually been obstructed by a consumer shift to cheaper gas stockpiles for energy, while unfavorable weather and work blockages at Canadian railroads positioned numerous operational challenges. The company also said coal demand will continue to stay stressed in the short term due to slow performance in the U.S. steel and commercial sectors. CSX's operating margin, a keenly watched metric, was 37.4% for...

U.S. trucking firm J.B. Hunt Transport Solutions reported thirdquarter profit above Wall Street approximates on Tuesday, helped by enhancing volumes in its biggest section, intermodal. Shares of the business were up 8.2% in after-the-bell trade. The intermodal segment, likewise known as JBI, which involves delivering goods through 2 or more ways of transport, saw an increase due to greater imports and better rail services. It also assisted the company partly balanced out a decrease in rates. The business reported a 5% year-over-year boost in intermodal volumes, propelling its JBI sector to post a profits of $1.56 billion. The Arkansas-based business...

Mexican rail consortium Ferromex and U.S. railway company Union Pacific Corp. stated they have stopped releasing licenses for some grain rail. shipments moving through Eagle Pass, Texas, after a current train. derailment in Mexico closed the track. The stop is a short-term measure until rail traffic gets. cleared after the track resumed, Ferromex told Reuters in a. declaration Monday, adding that total volume of grain movement. in between Union Pacific and Ferromex will not be impacted. The interruption marks the latest in a string of grain freight. rail backlogs at the border, particularly at El Paso and Eagle. Pass, that...

GXO Logistics, a. service provider of logistics services with a market value of roughly $6. billion, is checking out a potential sale after receiving takeover. interest, according to an individual familiar with the matter. GXO, which was spun off from trucking company XPO in 2021,. is dealing with a financial consultant to field acquisition. interest from suitors, that include rival logistics providers,. the source stated, asking for anonymity as the discussions are. confidential. It has actually not made a decision to continue with a sale, and. it is possible that the talks might not lead to an offer, the. source...

Unifor stated on Tuesday it has initiated agreement settlements with Canadian Pacific Kansas City, just weeks after it opened settlements with Canadian National Railway. The union, representing 1,200 workers at CPKC, will look for to address essential problems affecting rail workers across seventeen offices in Canada. Canada is the world's second-largest nation by location and relies greatly on trains to transport a wide range of products and goods. Work blockages at railroad business might bring the country's economy to a grinding halt, as they did in August. Unifor said its bargaining priorities consist of high levels of contracting out, forced...

Shares of China's BingEx rose 17% on Friday as the carrier delivery company brushed off a. slow start to its Nasdaq launching. The business, which brands its services as FlashEx, priced. its IPO at $16.50 each. Shares opened flat for trading, bring. an appraisal of $1.17 billion. Chinese business are gradually returning to drift on U.S. markets following a long hiatus after ride-hailing huge Didi. International delisted in 2021 due to press from regulators. EV maker Zeekr's debut previously this year was the. first huge listing by a Chinese company in the U.S. since then. BingEx sold 4 million American...

Berkshire Hathawayowned BNSF Train will resume providing licenses for grain shuttle bus heading to Mexico beginning Tuesday, the company informed Reuters on Monday, in a relocation that could assist alleviate some delays impacting agricultural exports. The news comes as U.S. East and Gulf Coast port employees are set to go on strike on Tuesday, without any talks presently set up to avoid an interruption. Rail stockpiles have actually been interrupting export trade between the United States and Mexico and snarling farming supply chains as the fall harvest is under method. In late August, BNSF stopped issuing licenses for grain shuttle...

Warehouse designer IndoSpace stated on Tuesday it will increase investment in the southern state of Tamil Nadu by 41% over the next three years, to meet increasing need for industrial parks as more companies set up bases in India. Storage facility developers are facing a mad demand rush as companies bank on the country's economic boom and attempt to diversify supply chains beyond China. India's warehousing market is expected to more than double to $37 billion by 2032, speaking with company IMARC Group estimates. Since 2023, the marketplace was valued at $16.4 billion. IndoSpace, which has actually currently invested $380...

China's BingEx said on Friday it had raised $66 million in its U.S. going public valuing the courier delivery company at $1.17 billion, signaling a recovery in financiers' risk hunger and easing regulatory obstacles. The company, which brands its services as FlashEx, sold 4 million American depositary shares (ADS) in the offering priced at $16.50 each. It had actually intended to offer shares at a variety in between $ 15 and $17. The IPO bodes well for the broader market which had been depressed for nearly 2 years due to higher-for-longer interest rates and chaos in the stock markets. The...

The London Metal Exchange ( LME) is set to approve the expansion of its international metals warehousing network into Hong Kong before completion of this year, 3 sources with knowledge of the matter stated, opening the door to mainland China. Registering warehouses in China, the world's biggest consumer of commercial metals, to keep metal traded on the LME has been a strategic aim because Hong Kong Exchanges and Cleaning ( HKEx) bought the LME in 2012 for $2.2 billion. Broadening into Hong Kong would indicate a considerable increase to LME trading volumes. In a discussion made to the LME's warehousing...

China's Dongfeng Motor Group needs to assess sales prospects in Europe before choosing the possible opening of a factory in the area, one of its magnates said on Thursday. Ma Lei, the general manager of Dongfeng worldwide business, was speaking at an item event in Turin, Italy, in the middle of efforts by the Italian government to convince Chinese automakers to produce in the nation. Rome has stated it remains in conversations with Chinese business consisting of Dongfeng and Chery Automobile. Talks with Dongfeng authorities about an automobile plant in Italy are at an advanced stage, sources stated in August....

Brazilian cargo business Modern Logistics expects to get in the U.S. and Mexican markets in the next few months as it puts in location an expansion technique that will include looking at merger and acquisition opportunities in the brief to midterm. WHY IT is necessary Modern is a big player in the fast-growing cargo market in Latin America's largest economy, which has actually been increased in recent years by e-commerce and facilities financial investments. RESTRUCTURING Established in the 2010s by former Azul executives, Modern underwent a restructuring last year that saw previous FedEx executive Cristiano Koga selected as CEO. The...

Blackstone will buy Australian data centre group AirTrunk for an implied enterprise value of over A$ 24 billion ($ 16.10 billion), it said on Wednesday, in what would be Blackstone's biggest financial investment in the Asia Pacific area. The alternative possession supervisor, along with the Canada Pension Strategy Financial Investment Board, is obtaining AirTrunk from Macquarie Asset Management (MAM) and the general public Sector Pension Investment Board (PSP). The deal requires approval from the Australian Foreign Investment Review Board (FIRB), offered the property is being bought by overseas parties. At $16.1 billion, the deal is the biggest buyout in Australia...

Rail links will be high on the agenda when Vietnam's recently designated leader To Lam travels to China to satisfy President Xi Jinping next week, authorities stated, as the neighbours seek to boost trade. Smooth rail links are viewed as essential for supply chains, as a growing variety of Chinese producers move some export-oriented operations to Vietnam in the middle of trade stress between China and the United States. The countries are connected by 2 railways from Southern China to Vietnam's capital Hanoi and its northern commercial hub, but the Vietnamese infrastructure dates back to French colonisation and has a...

Tanzania on Thursday launched a 541km contemporary standard gauge train running between its administrative and industrial capitals, built by a Turkish company as part of a federal government drive to enhance transportation facilities African federal governments have actually been racing to build infrastructure. like roadways, trains and bridges, though critics have actually questioned some of the loans drawn from nations like China to fund the drive stating they are saddling future generations with financial obligation. Tanzanian President Samia Suluhu Hassan flagged off the electric train services at a ceremony in the business capital Dar es Salaam, before boarding a train...