Logistics/Supply Chains

Biden: US will pay to rebuild Francis Scott Key Bridge

WASHINGTON — President Joe Biden on Tuesday called for an all-out federal effort to respond to the Francis Scott Key Bridge collapse in Baltimore, including paying to get it rebuilt.

“It’s my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort,” he said at a White House media briefing. “This is going to take some time; we’re not leaving until this job is done.”

Asked if companies affiliated with the ship that...

https://www.freightwaves.com/news/biden-us-will-pay-to-rebuild-francis-scott-key-bridge

Cargo thefts spiked 68% in Q4, led by food and beverage freight

When trade operator Mary Sandoval recently sent a truck to pick up a load of avocados from a warehouse in Laredo, Texas, she was appalled when the load and tractor-trailer vanished without a trace almost immediately after leaving the facility.

“The truck showed up to the warehouse, gave the warehouse the load pick up number and then drove off and disappeared,” Sandoval said. “We never heard from them, and don’t know where the avocados went.”

Sandoval, whose name has been changed for this story,...

https://www.freightwaves.com/news/cargo-thefts-spiked-68-in-q4-led-by-food-and-beverage-freight

Vertical farm to provide fresh herbs to retailers in Texas, Oklahoma

Texas-based vertical indoor farm Eden Green Technology announced Tuesday it has launched an herb program, aiming to supply fresh greenhouse herbs to retailers in Texas and Oklahoma.

Founded in 2017, Eden Green operates two 100,000-square-foot greenhouses in Cleburne, just outside the Dallas-Fort Worth metroplex. The company has been supplying greenhouse-grown romaine and butterhead lettuce to more than 400 stores in the region.

CEO Eddy Badrina said Eden Green Technology decided to launch the...

https://www.freightwaves.com/news/vertical-farm-to-provide-fresh-herbs-to-retailers-in-texas-oklahoma

The Logistics of Nearshoring: Navigating U.S.-Mexico Border Complexities

The supply chain ripples caused by pandemic bottlenecks are being felt along the U.S.-Mexico border as nearshoring intensifies. Cross-border logistics continues to gain attention as large multinational corporations move their operations to Mexican border regions, creating additional demand for warehousing space, manufacturing facilities, transportation capacity and providers to manage shipments.

While creating warehouses and manufacturing centers is a straightforward process, finding and...

https://www.freightwaves.com/news/the-logistics-of-nearshoring-navigating-u-s-mexico-border-complexities

GXO acquisition of Wincanton draws caution and praise from ratings agencies

The two key ratings agencies have weighed in with a cautionary outlook on the offer by GXO to acquire U.K.-based contract logistics company Wincanton.

Neither Moody’s nor S&P Global Ratings reduced its credit rating on GXO (NYSE: GXO). At Moody’s, the Ba1 corporate rating is one notch below investment-grade. The S&P Global (NYSE: SPGI) rating of BBB- is the lowest investment-grade rating.

But both agencies put GXO on the equivalent of a watch list because of the additional debt the company will...

https://www.freightwaves.com/news/gxo-acquisition-of-wincanton-draws-caution-and-praise-from-ratings-agencies

3PLs can guide shippers through complexities of cross-border trade

This fireside chat recap is from the FreightWaves 3PL Summit on Wednesday.

FIRESIDE CHAT TOPIC: The future of cross-border freight and third-party logistics providers.

DETAILS: Cargado’s Matt Silver breaks down the changing role of 3PLs and how they can help shippers as more manufacturers move their supply chains to Mexico.

SPEAKERS: Silver, co-founder and CEO of Cargado, a FreightTech firm that is building software to simplify the cross-border shipping process, and FreightWaves’ Mary O’Connell.

KEY...

https://www.freightwaves.com/news/3pls-can-guide-shippers-through-complexities-of-cross-border-trade

Wincanton board approves GXO’s competing buyout proposal

The board of U.K. logistics firm Wincanton said Friday it unanimously recommended that shareholders approve GXO Logistics Inc.’s (NYSE: GXO) $965 million all-cash offer to acquire the company.

The Wincanton board withdrew its recommendation of Ceva Logistics S.A.’s lower-priced offer for the company. Based on current foreign exchange rates, the GXO offer is priced at $7.75 a share, while the CEVA offer is priced at $6.07 per share, or approximately $764 million.

“The Wincanton directors are...

https://www.freightwaves.com/news/wincanton-board-approves-gxos-competing-buyout-proposal

GXO offers $965 million for UK logistics firm Wincanton

Contract logistics provider GXO Logistics Inc. (NYSE: GXO) said Thursday it has made a $965 million, or $7.65 per share, all-cash offer for U.K. logistics firm Wincanton, topping by 26% an offer made earlier this week by French logistics rival Ceva Logistics.

The latest step in the bidding war involving one of the U.K.’s largest logistics firms sent Wincanton’s shares soaring in London trading. Shares were up 20% from Wednesday’s close. 

Wincanton’s board earlier this week agreed to an improved,...

https://www.freightwaves.com/news/gxo-offers-965-million-for-uk-logistics-firm-wincanton

DHL moves Norfolk operations to larger facility

Transport and logistics provider DHL Group said Tuesday that it has relocated its Norfolk, Virginia, operations to a facility more than twice the size of its prior location.

The $7.3 million investment increases shipment capacity and enables faster processing, resulting in later cutoff times for shippers in eastern Virginia, said DHL, a German company with Americas headquarters in Plantation, Florida.

The new service center facility at 2551 Almeda Ave. serves Norfolk and the surrounding areas for...

https://www.freightwaves.com/news/dhl-moves-norfolk-operations-to-larger-facility

Electric trucks find a sweet spot with inbound logistics

Using electric trucks for short, repeatable trips to assembly plants is expanding as more OEMs require suppliers to shush the noise and eliminate the diesel exhaust that accompany delivering incoming parts and components.

How did inbound logistics become a thing in an industry where change most often meets resistance? For their own reasons, stakeholders from sustainability-conscious shippers to regulators and OEMs like inbound logistics as a use case for electric trucks.

Was this newsletter...

https://www.freightwaves.com/news/electric-trucks-find-a-sweet-spot-with-inbound-logistics

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.