Ground Freight & Logistics

Union Pacific announced on Tuesday that it will buy rival Norfolk Southern for $85 billion. This deal will create the first coast-tocoast freight railroad operator in the United States and transform the movement of goods across the country, from grains to automobiles. If approved, this deal would combine Union Pacific’s dominant position in the western two thirds of the U.S. and Norfolk’s 19,500-mile network that spans primarily 22 eastern states. According to the companies, it is expected that both railroads will have a combined value of $250 billion. They would also unlock annualized synergies worth about $2.75 Billion. The merger...

Union Pacific announced on Tuesday that it will buy rival Norfolk Southern for $85 billion. This deal will create the first coast-tocoast freight railroad operator in the United States and transform the movement of goods across the country, from grains to automobiles. If approved, this deal would combine Union Pacific’s dominant position in the western two thirds of the U.S. and Norfolk’s 19,500-mile network that spans primarily 22 eastern states. The merger of Union Pacific, America's largest railroad, and Norfolk, another top player, would be the largest ever in the industry. This would give the combined company a transcontinental advantage....

United Parcel Service announced a drop in profit and revenue for the second quarter on Tuesday. The decline was due to new "de minimis tariffs" on low-value Chinese imports and rising risks from President Donald Trump’s trade policies. In May, the White House began charging tariffs for shipments from China under $800 that were previously exempt. As part of the trade truce, these levies have been reduced from 120% to 54%. However, consumers are still expected to suffer a decline in demand. Experts believe the removal of the exemption likely creates a greater-than-expected volume headwind for the company's international segment,...

Union Pacific, America's largest freight railroad, beat its second-quarter profit expectations on Thursday thanks to higher coal revenue and better pricing. After President Donald Trump's executive orders to boost coal production, the volume of coal shipment has increased. Union Pacific, a barometer of U.S. economic growth, has also seen strong volumes for its grain product segments and industrial chemical shipments. The policy change has given a boost to the rail industry in recent years, but the North American railroad sector has been struggling with unstable freight volumes, rising fuel and labor costs, and increasing pressure from shippers regarding service reliability....

Sources said that BNSF Railway hired Goldman Sachs while CSX Corp was in discussions to hire financial advisers. Union Pacific's interest of acquiring Norfolk Southern sparked a deal wave in preparations for a potential reshaping of the U.S. rail freight industry. The move by BNSF and Jacksonville's CSX, both owned by Warren Buffett and Berkshire Hathaway respectively, comes after Union Pacific started exploring a possible acquisition of Norfolk Southern. This could create a 200 billion dollar coast-tocoast rail network, marking the largest consolidation in this sector for decades. Any deal will be subject to intense regulatory scrutiny, and is still...

A person familiar with this matter has confirmed that Union Pacific, which is the largest U.S. railroad operator in terms of freight, is looking at acquiring Norfolk Southern, to create a coast-to-coast network worth $200 billion. The person stated that the talks are still in their early stages. There is no guarantee that they will continue or any deal will pass what would have to be an extensive, detailed regulatory examination. Both companies declined to make any comments. A deal that unites two of the largest freight rail operators from North America will likely be subject to intense scrutiny by...

People familiar with the situation said that private equity firms such as Blackstone and Apollo Global Management are interested in buying U.S. trucker Forward Air. Signing confidentiality agreements allowed them to receive information and review documents to help shape a possible bid. Platinum Equity and Clearlake Capital can also review materials after signing agreements, according to the sources. Sources said that the initial takeover bids will be submitted in the first week of the month of July. However, they noted that there was no guarantee four buyout firms would make offers. It is possible that other bidders will emerge. Sources...

The Trump Administration said on Wednesday that there was no viable way forward for California's High-Speed Rail Project and warned it could revoke $4 billion of government funding in the next few weeks. Transportation Department of the United States released a report by Federal Railroad Administration. The report cited missed timelines, budget shortages, and doubtful ridership projections. California's failure to identify $7 billion additional funding required for a first segment between Merced, California and Bakersfield was cited as a key issue. USDOT gave California California until the middle of July to respond, and then the administration can terminate the grants....

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines - Denmark's Maersk buys Panama Canal railway Deutsche Bank's asset management manager fined 25 Million Euros over greenwashing scandal Steve Buck is named as the new Chief Financial Officer of Thames Water Greencore signs 1.2 billion pound deal with Bakkavor, a UK rival in the ready-meal market View the full article Canadian Pacific Kansas City and Lanco Group, based in the United States, have sold the Panama Canal Railway Company (PCRC) to a Danish Maersk unit. Maersk...

Crowley, a U.S. logistics company, said that only one tank of jet fuel was damaged when a U.S. military tanker transporting a shipment off England's north-east coast was hit by a cargo vessel. Stena Immaculate was anchored off Humberside on 10 March when the smaller Solong struck it. The explosions and fires started. Crowley, the company that manages the tanker said in a Sunday statement the third-party salvage crew had confirmed the damage was "limited to one cargo tank which contained Jet-A1 Fuel and one ballast container containing seawater". Stena Bulk, the owner of the vessel, confirmed Monday that it...

The tariffs imposed by U.S. president Donald Trump on Mexican imports pose a significant risk to farmers in Jacksonville. This is because Mexico's retaliation could cause corn buyers to switch to South American rivals. Mexico is the top corn-importing country in the world. At a time when prices of grains have plummeted and chemical and seed costs for crops are on the rise, this market is crucial for U.S. producers. Farmers in Jacksonville, a small city of 17,000 residents, are more likely to benefit from Mexican demand than other farmers. The residents live near a grain loading facility where corn...

The Trump Administration announced on Thursday that it will review the decision to rescind $4 billion in funding for California's High-Speed Rail Project. The project was approved by voters in 2008 for $10 billion, but costs have increased dramatically and President Donald Trump is a harsh critic of the effort. Under former president Joe Biden, the Transportation Department awarded more than $3 billion to this project. The initial estimate of the total project cost was $40 billion. However, that number has risen to $89 billion and $128 billion. California High-Speed Rail Authority has not yet issued a statement. Federal Railroad...

Pasifik Eurasia Lojistik announced that it had signed a railway transportation agreement with a subsidiary China Railway for the launch of cargo train services on a corridor connecting China to Europe via Turkey, bypassing Russia. The initial plan is to operate 10 train services, and eventually 1,000. It is anticipated that the Middle Corridor will see a significant increase in freight volume thanks to the partnership with China's state-owned railway logistics company. The Middle Corridor, a China-Europe freight route that is promoted by the West, includes Kazakhstan, Azerbaijan and Georgia, as well as Turkey. Fatih Erdogan, Chairman of Pasifik Holding's...

Leasys, an auto leasing company, aims to double its fleet's share of electric and hybrid vehicles by the end of next year. The rapid advancements in electric technology present challenges to the industry. Leasys, a 50-50 joint venture between Stellantis in Italy and France's Credit Agricole is the third-largest player in Europe's long term auto rental industry. The long-term lease, which allows the customer to rent a car at a fixed rate per month, usually for a minimum of 365 days, is an alternative to owning. In recent years, corporate clients have driven its popularity. Leasys is present in 11...

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...