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Heavy-duty truck manufacturer AB Volvo is setting aside $423.2 million to cover losses from suspending its business in Russia because of the invasion of Ukraine.
Among major truck makers, the Sweden-based company had the greatest exposure to Russia, counting about 3% of its net sales there. The provision, mostly due to financial services, will impact Q1 operating income. Volvo reports earnings on April 22.
Russia’s six-week-long invasion of Ukraine has seen more than 4 million Ukrainians flee...
https://www.freightwaves.com/news/volvo-group-sets-aside-423m-to-cover-suspending-business-in-russia
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Germany’s energy company Uniper and the Port of Rotterdam Authority have entered into an agreement for developing the production of green hydrogen at the Uniper location on Maasvlakte. The post…
https://www.offshore-energy.biz/uniper-port-of-rotterdam-in-green-hydrogen-production-deal/
The COVID-19 pandemic provided a glimpse into how supply chain disruptions can bring the world to its knees, but the global business community is facing another big threat — extreme weather.
Related: Logistics groups ready to help during potentially busy hurricane season
Just ask Apple, which is experiencing production disruption after severe flooding last month tore through its iPhone manufacturing site in Zhengzhou, China.
From record heat waves in the Pacific Northwest to deadly flooding in...
https://www.freightwaves.com/news/long-view-preparing-logistically-for-extreme-weather
Workhorse Group (NASDAQ: WKHS) built just seven trucks in the fourth quarter as its underdeveloped production systems and supply chain issues continued to hold down the electric maker’s progress even as orders have grown sevenfold compared with a year ago.
“We are facing various supply chain challenges, both internal and external,” CEO Duane Hughes said on the company’s Q4 earnings call Monday. “Given our backlog, we cannot sacrifice future build volume for current-year production. Scaling up...
https://s29755.pcdn.co/news/workhorse-electric-delivery-van-builds-lag-as-backlog-swells
Soon-to-be-independent Daimler Trucks AG struggled to a loss-making 2020 as fourth-quarter revenue fell 6%. But the near future looks brighter as new truck orders surged triple digits in the quarter.
The unit of Daimler AG sold 8% fewer trucks in North America in Q4. Orders for new equipment surged 136%.
Overall, Daimler Trucks production fell 3% in the fourth quarter. Builds and retail sales both slid 27% for the year.
Adjusted earnings before interest and taxes (EBIT) rose 29% in Q4 to 575...
https://www.freightwaves.com/news/daimler-trucks-us-full-year-sales-fall-30%-as-independence-nears
Already the world’s largest propane exporter, Enterprise’s achievement provides another demand source for US shale supplies by allowing large vessels to refuel with LPG at the loading dock instead of making an additional stop at a bunkering facility, says an article published on S&P Global.
Gree...https://mfame.guru/first-vlgc-powered-by-lpg-headed-from-us-towards-panama-canal/
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https://s29755.pcdn.co/news/daily-infographic-the-workhorse-delivery-van