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Universal Logistics’ Q2 trucking revenue increases 12.6% to $91M

Universal Logistics Holdings’ second-quarter results showed a 12% year-over-year increase in total revenue to $462.2 million, while earnings increased 30% year over year to $1.17 per share.

The company surpassed Wall Street expectations of $461.4 million in revenue and EPS of $1.14.

“We grew top-line revenue by 12%, delivered a double-digit operating margin and increased our earnings per share by 30% compared to the same period last year,” CEO Tim Phillips said during an earnings call with...

https://www.freightwaves.com/news/universal-logistics-q2-trucking-revenue-increases-12-6-to-91m

Warehouse training goes virtual; fighting fraud in LA; Selling inspired | WHAT THE TRUCK?!?

On Episode 740 of WHAT THE TRUCK?!?, Dooner is talking about a pair of trucking companies in Miami that have filed for bankruptcy protection. Also in headlines, the Federal Motor Carrier Safety Administration says its hands are tied when it comes to fighting double brokering.

Warehouse training enters the cybersphere with virtual reality training stations. Abel Womack’s Jim Hennemann talks about how it works and what kind of results he’s seeing. We’ll also learn what warehouse solutions are in...

https://www.freightwaves.com/news/warehouse-training-goes-virtual-fighting-fraud-in-la-selling-inspired-what-the-truck

Running on Ice: An IPO gold rush for Lineage

This year’s Future of Freight Festival takes place Nov. 19-21 in Chattanooga, Tennessee. But it’s not your average conference. Sure, there are wonderful speakers and fireside chats. But that’s only half the fun. F3 is set up with half-days of speakers and amazing content. The other half we take over downtown Chattanooga, and there are events, networking and a lot of fun to be had by all. This year, subscribers to Running on Ice get a promo code exclusive to us! You can register with this link...

https://www.freightwaves.com/news/running-on-ice-an-ipo-gold-rush-for-lineage

Borr Drilling gets new contract commitments for three jack-up rigs

In a sign of the continuing uptick of offshore drilling activities in a number of regions, Borr Drilling Limited [NYSE and OSE: BORR] today reported new contract commitments for three of its premium jack-up rigs, the Arabia I, the Gunnlod and the Norve. The commitments cover a total of 1,779 days and $332 million in contract revenue, including mobilization and demobilization compensation.

The Arabia I, which had its work scope suspended earlier this year in Saudi Arabia has secured a new...

https://www.marinelog.com/offshore/borr-drilling-gets-new-contract-commitments-for-three-jack-up-rigs/

New developments from Jiangnan Shipyard gain ABS AIPs

ABS has awarded approval in principle (AIP) to two new developments from Jiangnan Shipyard, Shanghai: a new insulation system and a design for an ultra large ethane carrier (ULEC).

The ULEC design is the first equipped with the next-generation BrilliancE II Type-B cargo containment system, a modern cryogenic liquefied gas containment system designed to optimize ship performance. The second AIP was awarded for Jiangnan’s patented insulation system, PnFCOMBi, which can be used for type B tank...

https://www.marinelog.com/news/new-developments-from-jiangnan-shipyard-gain-abs-aips/

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

Maersk Line Limited reaches settlement in whistleblower case

As part of a settlement with the U.S. Department of Labor in a whistleblower case, Maersk’s U.S.-flag subsidiary, Maersk Line Limited is to change its safety reporting policies and compensate a seaman that it terminated after he reported safety concerns to the U.S. Coast Guard without first notifying the company.

The Department of Labor says that these actions follow a three-day hearing in June 2024 in which Maersk challenged the findings of a whistleblower investigation by the department’s...

https://www.marinelog.com/legal/maersk-line-limited-reaches-settlement-in-whistleblower-case/

International Maritime Organization completes port security training in Madagascar

Comorian and Malagasy national authorities gained essential skills and knowledge to help ensure the security of their ports, following a series of International Maritime Organization (IMO) training activities held in Antananarivo, Madagascar from 9 to 19 July.

According to IMO, 24 personnel representing a range of government departments, ministries and agencies in Madagascar took part in an initial tabletop exercise followed by a National Maritime Security Committee (NMSC) workshop (9-12 July).

Pa...

https://container-news.com/international-maritime-organization-completes-port-security-training-in-madagascar/

Freight mix, terminal openings weigh on Saia’s Q2; stock drops 20%

Growing pains from building out a national network hampered Saia’s second-quarter results, sending shares of the less-than-truckload carrier more than 20% lower briefly on Friday. Incremental operating costs from the company’s terminal additions and a mix shift to lower-weight, retail freight were a drag on margins during the period.

Saia (NASDAQ: SAIA) reported second-quarter earnings per share of $3.83, which was 4% below the consensus estimate ($4) but 12% higher than the year-ago quarter...

https://www.freightwaves.com/news/freight-mix-terminal-openings-weigh-on-saias-q2-stock-drops-20

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