Third party logistics

Canada’s Fastfrate buys cross-border logistics provider ASL

Fastfrate Group announced its acquisition of ASL Distribution Services.

Canadian trucking and logistics company Fastfrate Group has acquired third-party logistics provider ASL Distribution Services in a deal that dramatically expands its cross-border e-commerce business.

Fastfrate announced the acquisition on Tuesday and said it will boost annual revenue by CA$120 million ($94 million) in 2021. The deal adds 13 terminals and final-mile hubs in New York and Ontario, Quebec and Manitoba in Canada.

It comes amid a wave of acquisitions in the Canadian trucking and...

https://www.freightwaves.com/news/canadas-fastfrate-buys-cross-border-logistics-provider-asl

Radiant Logistics benefits from COVID-related freight

Radiant Logistics outpaces expectations

Third-party logistics provider Radiant Logistics (NYSE: RLGT) is seeing “slow and steady improvement” across several of the verticals it serves. Management from the company called specific attention to strength in government freight, which includes COVID-related supplies, on its call with analysts Tuesday after the close.

Company Founder and CEO Bohn Crain is recovering from COVID and was unable to join the call.

The Bellevue, Washington-based company reported adjusted net income of $8.6 million,...

https://www.freightwaves.com/news/radiant-logistics-benefits-from-covid-related-freight

Team Worldwide’s new president tasked with guiding growth

Team Worldwide, with a focus on technology, service and operations, has appointed Randy Sinker as president of the Texas-based company.

Sinker replaces Jason Brunson, who will remain in the role of chief executive officer of Team Worldwide as well as retain his position as chairman of the board.

“This strategic decision is just one of the many milestones Team Worldwide has celebrated throughout our 41-year history,” Brunson said. “We are confident in Randy’s ability to help guide Team Worldwide...

https://www.freightwaves.com/news/team-worldwides-new-president-tasked-with-guiding-growth

Red Arts Capital acquires Canadian 3PL Radius Logistics

Red Arts Capital continues to build out logistics portfolio

Red Arts Capital announced Thursday the acquisition of Vancouver, British Columbia-based third-party logistics provider Radius Logistics.

Radius provides integrated transportation, warehousing and distribution services throughout North America. The full-service 3PL’s lineup includes ground, air and ocean transportation options as well as domestic and international parcel shipping through Radius Courier.

Financial terms of the transaction were not disclosed.

“We are thrilled to partner with Radius...

https://www.freightwaves.com/news/red-arts-acquires-canadian-3pl-radius-logistics

Career Tracks: Dachser promotes CFO Eling to CEO

Burkhard Eling took the helm as chief executive officer of logistics provider Dachser on New Year’s Day.

Eling also will serve as the executive board spokesman and head corporate strategy, human resources, marketing, corporate key account management and governance and compliance.

He succeeded Bernhard Simon, who will take over as chairman of the supervisory board of the family-owned company in mid-2021. Also moving to the supervisory board is Michael Schilling, the former chief operations officer...

https://s29755.pcdn.co/news/career-tracks-dachser-promotes-cfo-eling-to-ceo

5 warehousing sustainability trends for 2021

Warehousing trends include sustainability and automation.

Warehouse and logistics companies are trying to shore up their sustainability efforts as they struggle to change their inventory strategies from just in time to just in case during the COVID-19 pandemic. Here are five trends in sustainable warehousing to look for when the dust settles.

Automation

As warehouse labor gets progressively tougher to find and the pandemic continues, warehouses are shifting to technology and automation to do some of the work. Wearable devices, such as those provided by...

https://s29755.pcdn.co/news/5-warehousing-sustainability-trends-for-2021

Cost reduction offsets COVID impacts for Radiant Logistics in FQ1

Containers moved at port

Third-party logistics provider Radiant Logistics Inc. (NYSE: RLGT) is seeing an “extraordinarily tight” capacity environment as the company’s revenue continues to slowly bounce back from the pandemic.

The Bellevue, Washington-based multimodal transportation company reported Monday after the market close adjusted net income of $6.5 million, or 13 cents per share, for its fiscal first quarter ended Sept. 30. The result was in line with the same quarter in 2019.

“Through a number of cost-saving and...

https://s29755.pcdn.co/news/cost-reduction-offsets-covid-impacts-for-radiant-logistics-in-fq1

Career Tracks: Yang Ming names new CEO

The board of Yang Ming Marine Transport Corp. has elected Cheng Cheng-Mount as chairman and chief executive officer.

Effective Thursday, Cheng succeeded Hsieh Chih-Chien as leader of the Taiwanese container carrier. Cheng was appointed by the National Development Fund, Yang Ming’s second-largest shareholder, to the company’s board of directors in 2018. 

Cheng, who earned a master’s degree in economics from the University of Wisconsin-Madison, began his career as an assistant research fellow at...

https://s29755.pcdn.co/news/career-tracks-yang-ming-names-new-ceo

Radiant Logistics sees record F4Q results, delays filing and earnings call

Unidentified trucks on highway

In an abbreviated fiscal fourth-quarter update, third-party logistics and multimodal transportation provider Radiant Logistics Inc. (NYSE: RLGT) said it expects to report record adjusted net income of $8.9 million, 18 cents per share, for the period that ended June 30.

The Bellevue, Washington-based company said it filed for a 15-day extension for filing its annual form 10-k with the U.S. Securities and Exchange Commission. The press release stated that the company “was unable to timely finalize...

https://www.freightwaves.com/news/radiant-logistics-sees-record-f4q-results-delays-filing-and-earnings-call

Managing through COVID-19: How Echo Global is staying busy, giving back

Trucks passing om the highway

Many companies have faced unusual circumstances because of the COVID-19 pandemic. In the trucking and logistics space, though, the challenges have been unique. Considered essential, trucks loaded with goods have still moved, albeit at a slower pace, and employees have still had to get those trucks loaded and dispatched.

That meant a shift in the way the industry worked. Work from home met life on the road. For Echo Global Logistics (NASDAQ: ECHO), that process has proved easier than it has for...

https://s29755.pcdn.co/news/managing-through-covid-19-how-echo-global-is-staying-busy-giving-back

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