Logistics

Stord buys fulfillment segment of Pitney Bowes’ e-commerce division

Supply chain logistics company Stord purchased the fulfillment services operation of Pitney Bowes’ e-commerce division on Friday, according to a report by The Information independently confirmed by FreightWaves.

Terms of the acquisition weren’t immediately available, according to the report. 

The news comes after Pitney Bowes (NYSE: PBI) announced Greg Zegras retired as president of the company’s Global Ecommerce segment earlier this month. Zegras served in several executive roles since starting...

https://www.freightwaves.com/news/stord-buys-fulfillment-segment-of-pitney-bowes-e-commerce-division

How reverse logistics can help retailers avoid ring around the collar

The spend-crazy consumer has been both a blessing and a curse for the logistics industry. The positive is the additional volume of boxes being moved. The negative? Fraud, theft and rising logistics costs.

We have heard stories about or know at least one person who has worn an outfit with the tag on to a wedding or a one-time event only to return the item after wearing it. This is called “wardrobing.” Retailers who do not catch these used items carelessly put them back on the rack or in stock to...

https://www.freightwaves.com/news/how-reverse-logistics-can-help-retailers-avoid-ring-around-the-collar

Illinois trucking company, brokerage file for bankruptcy liquidation

A 36-year-old Illinois trucking company and brokerage ceased operations recently and filed for Chapter 7 bankruptcy liquidation.

B.T. Trucking Inc. of Broadview, Illinois, doing business as Blue Thunder Trucking, and its three affiliated companies — B.T. Transportation Group Inc., JPL Transport Inc. and Rysoti Inc. — filed for Chapter 7 liquidation on July 19 in the U.S. Bankruptcy Court for the Northern District of Illinois.

At the time of its closure, Blue Thunder had 75 drivers and the same...

https://www.freightwaves.com/news/illinois-trucking-company-brokerage-file-for-bankruptcy-liquidation

Ryder, reporting sluggish earnings growth, sees ‘trough’ in freight market

The word “trough” came up several times during Ryder System’s earnings call with analysts, as CEO Robert Sanchez and others suggested that the second quarter was the low point of a freight cycle that they see as primed for an upturn.

Sanchez said 2024 will “represent trough conditions in used sales and rental.” Sanchez later said on the Thursday call that return on equity at Ryder (NYSE: R) would “outperform prior cycles despite expected trough conditions and used vehicle sales.” Speaking of...

https://www.freightwaves.com/news/ryder-reporting-sluggish-earnings-growth-sees-trough-in-freight-market

Paris Olympics will be a true test of supply chains

Bart

By Bart De Muynck

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

The opening ceremony for the Summer Olympics in Paris takes place Friday. Thousands of athletes and millions of visitors will spend part of their summer in France to attend the 2024 Games. The past few years, supply chains have looked like an Olympic marathon or sometimes even like a 3,000-meter steeplechase race lined with obstacles.

Besides the...

https://www.freightwaves.com/news/paris-olympics-will-be-a-true-test-of-supply-chains

 FMCSA kicks 4 ELDs off registered list

The Federal Motor Carrier Safety Administration has kicked four ELDs off the agency’s registry due to the companies’ failure to meet the minimum requirements. 

The agency announced Tuesday that ELDs from CTE-LOG ELD, ELD VOLT, Powertrucks ELD and TFM ELD were placed on the revoked devices list. Motor carriers should stop using those devices.

Motor carriers have up to 60 days to replace the revoked ELDs with compliant ones. They are encouraged by the FMCSA to use paper logs or logging software in...

https://www.freightwaves.com/news/fmcsa-kicks-4-elds-off-registered-list

Cold storage REIT Lineage IPO hauls in $4.4B

This story has been updated.

Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range previously expected.

A 30-day option for a 15% allotment (a little more than 8.5 million shares) has been granted to underwriters. The company said it will use...

https://www.freightwaves.com/news/cold-storage-reit-lineage-ipo-hauls-in-4-4b

How freight fraud became the perfect crime

Freight fraud has become an all-too-familiar term in the transportation and logistics sectors in recent years. Although fraud has long been a challenge in the field, industry experts observe that these criminals have evolved alongside FreightTech, leaving supply chain participants uncertain about who will bear the burden of finding solutions.

Recently, FreightWaves has received numerous reports of sophisticated freight fraud schemes. 

There is the classic double-brokering scheme, in which a...

https://www.freightwaves.com/news/how-freight-fraud-became-the-perfect-crime

Backed by big companies and labor, Supply Chain Council debuts

JERSEY CITY, N.J. – Against a backdrop of New York Harbor and cranes looming over the Port of Newark, the Supply Chain Council announced its formation Wednesday, boasting that it will fill a void among logistics-focused associations by casting a wider membership net.

At a press briefing at Liberty State Park, the type of “big tent” the Supply Chain Council seeks to build was most evident in the fact that its chairman, Prologis Senior Vice President Steven Hussain, and Josh LaFarga, director of...

https://www.freightwaves.com/news/backed-by-big-companies-and-labor-supply-chain-council-debuts

Federal lawsuit alleges Port of LA polluting San Pedro Bay

A federal lawsuit filed Tuesday against the Port of Los Angeles alleges that the port is polluting Los Angeles Harbor.

The suit, brought by nonprofit Environment California, accuses the port of violating national permit limits on discharges of enterococci bacteria, fecal coliform bacteria, total coliform bacteria, copper and petroleum hydrocarbons. The port is violating the federal Clean Water Act, according to the suit, filed in the U.S. District Court for the Central District of California.

The...

https://www.freightwaves.com/news/federal-lawsuit-alleges-port-of-la-polluting-san-pedro-bay

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