Maersk had more cash than it knew what to do with — but not anymore

Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the company’s pandemic-era bonanza is well and truly over, it’s time to take a retrospective look at how Maersk invested its cash when profits were pouring in by...

Borderlands: Exports of Mexican-made trucks jump 25% in October

Borderlands is a weekly rundown of developments in the world of U.S.-Mexico cross-border trucking and trade. This week: Exports of Mexican-made trucks jump 17% in October; Pilot Freight Services expands in Texas; Trade X launches a platform for auto imports/exports in Mexico; and U.S. Border Patrol agents halt smugglers using trucks to transport migrants.

Exports of Mexican-made heavy-duty trucks rise 25% in October

Mexican heavy-duty truck manufacturing and exports continued to rebound in...

Hapag-Lloyd acquiring stake in Italian logistics company

German container shipping line Hapag-Lloyd announced Thursday it is acquiring a 49% stake in Italian logistics company Spinelli Group. 

The Spinelli family will retain a majority stake of 51%, according to Hapag-Lloyd. 

“The parties have agreed to not disclose any financial details of the deal,” the four-sentence announcement said. “The completion of the transaction is subject to the approval of the responsible antitrust authorities, which is expected within the next months.” 

The nearly...

Performance Team opening cold storage facility in New Jersey

Maersk North America announced Monday its Performance Team will open a nearly 168,000-square-foot cold storage facility in Dayton, New Jersey, in October to serve imports and exports of such commodities as fish, poultry, beef, pork, fruits and vegetables.

“We’re adding more cold chain capacity to serve the New York/New Jersey metropolitan-area demand. This intergrates with Maersk’s ocean services and their first port of call in Elizabeth, New Jersey, and the consumption patterns generated by the...

Maersk completes Pilot Freight Services acquisition

A.P. Moller-Maersk has announced the completion of its acquisition of Pilot Freight Services, a US-based international and domestic supply chain provider with cross-border solutions into Canada and Mexico.

After the acquisition, Pilot Freight Services will be rebranded to Pilot – A Maersk Company.

The acquisition will benefit customers by offering customised international, domestic and cross-border logistics to Maersk’s North America landside logistics capabilities for business-to-business (B2B)...

Maersk to deploy 300 Einride electric trucks

Less than six months after opening a U.S. operation and launching initial pilots in North America, Swedish freight technology company Einride has inked a deal with global transportation provider A.P. Møller – Maersk.

The five-year agreement calls for Maersk to deploy 300 Einride Class 8 electric trucks (E-trucks), with the first delivery taking place in 2023. Maersk will use the vehicles in its North American warehousing, distribution and transportation business. The companies estimate the...

Maersk transforming into global supply chain amphibian

Maersk's acquisition of Pilot Freight Services is another step toward transforming the business from ocean shipping to an end-to-end global supply chain

Delays. Miscommunications. Contract disputes. These are just a few of the throes of having a fragmented supply chain, which is the case for just about any company trying to ship goods globally.

It makes sense — to connect every touch point of the global supply chain would require infrastructure, visibility, software integrations and a host of other features along every step of the journey, a seemingly impossible task. But one company is getting very, very close.

Those acquainted with the supply...

Maersk adds US final-mile network in $1.8B deal

Maersk adds to U.S. inland portfolio

A.P. Moller – Maersk announced Wednesday the acquisition of U.S.-based forwarder Pilot Freight Services in a $1.8 billion deal. The deal is the latest in a string of acquisitions that are transforming the company historically known as a shipping line into a global logistics outfit.

Headquartered in Glen Mills, Pennsylvania, 50-year-old Pilot provides first-, middle- and final-mile transportation, specializing in big and bulky freight delivery. The company operates 87 facilities throughout North...

Maersk agrees to buy US transportation and logistics firm for US$1.68 billion

Maersk has announced its intention to acquire the US-based transportation and logistics company Pilot Freight Services for US$1.68 billion with the closing of the transaction being expected during the second quarter of 2022.

The Danish global shipping company will buy Pilot from ATL Partners, a sector-focused private equity firm in New York launched in 2014 and British Columbia Investment Management Corporation (BCI), an investment company in Canada.

Maersk believes that with Pilot’s addition, it...

Modern Shipper’s Top 10: E-commerce

Modern Shipper launched in February 2021 with a mission of highlighting the ever-growing last mile of the supply chain. Throughout the year, we learned a lot, and our readers helped inform us of plenty more.

Looking back on the year that was, there were plenty of stories that resonated with our readers — from drones to automation, from gig workers to last-mile delivery providers. Of course, we can’t forget e-commerce, which is rapidly changing the supply chain and everything and everybody who...

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