warehouse

Prologis sees market tightening again once interest rate cuts begin

Management from logistics real estate investment trust Prologis said Wednesday that uncertainty around the timing of interest rate cuts has slowed leasing demand in the near term but that its favorable longer-term outlook remains unchanged.

Prologis (NYSE: PLD) reported first-quarter core funds from operations (FFO) of $1.28 per share, in line with the consensus estimate. However, it lowered its full-year guidance by 1% to a new range of $5.37 to $5.47 compared to analysts’ expectations of $5.50...

https://www.freightwaves.com/news/prologis-sees-market-tightening-again-once-interest-rate-cuts-begin

Prologis reports in-line Q1, slightly trims 2024 outlook

Logistics warehouse operator Prologis slightly lowered its 2024 guidance on Wednesday as it expects leasing activity to “stay competitive” in some markets. It’s calling for occupancy and net operating income to step lower.

Prologis (NYSE: PLD) reported core funds from operations (FFO) of $1.28 in the first quarter of 2024, which was in line with the consensus estimate. It lowered FFO guidance by 1% to a new range of $5.37 to $5.47, which was slightly below analysts’ expectations of $5.50 at the...

https://www.freightwaves.com/news/prologis-reports-in-line-q1-slightly-trims-2024-outlook

Stord acquires ProPack Logistics, expands North American footprint

Fulfillment provider Stord announced recently it has acquired ProPack Logistics to strengthen its temperature-controlled and last-mile shipping services to its omnichannel brands. Terms of the deal were not disclosed.

“ProPack’s 30 years of experience bolsters our own, making Stord a clear front-runner for any brand requiring the added complexity of temperature-controlled storage and transportation,” co-founder and CEO Sean Henry told FreightWaves. 

“Stord is already an emerging leader in...

https://www.freightwaves.com/news/stord-acquires-propack-logistics-expands-north-american-footprint

Weak market or not, truck transportation jobs saw healthy jump in March

Truck transportation jobs in March grew by the second-largest amount in the 15-month period starting in 2023 that has seen jobs in the sector decline overall, according to the monthly report by the Bureau of Labor Statistics.

The increase of 5,100 jobs also comes with a revision of the February report on truck transportation jobs that lifted that month’s total by 2,600 jobs. Additionally, the revision for January is an increase of 1,100 jobs from the most recent estimate of that month.

With those...

https://www.freightwaves.com/news/weak-market-or-not-truck-transportation-jobs-saw-healthy-jump-in-march

ArcBest deploys Nvidia’s AI technology on its autonomous forklifts

Transportation and logistics provider ArcBest said it is using technology from Nvidia to “bridge the gap” in human-robot interactions during freight handling.

ArcBest (NASDAQ: ARCB) said the use of semiconductor engineer Nvidia’s (NASDAQ: NVDA) Isaac Perceptor provides enhanced safety and efficiency when handling materials on a warehouse floor. The AI technology provides exact depth perception and improved 3D occupancy mapping as it captures more than 16.5 million 3D points per camera every...

https://www.freightwaves.com/news/arcbest-deploys-nvidias-ai-technology-on-its-autonomous-forklifts

Locus Robotics launches business intelligence tool LocusHub

Autonomous mobile robots (AMRs) provider Locus Robotics on Wednesday launched its business intelligence tool LocusHub, enabling customers to leverage reporting tools and data insights to make recommendations to fleets of AMRs.

The new solution will be available through its LocusOne platform, launched last year at the industry tradeshow ProMat.

LocusBot Origin. (Photo: Locus Robotics)

LocusOne coordinates the company’s AMRs, known as LocusBots, which consist of two lines of robots: Locus Origin...

https://www.freightwaves.com/news/locus-robotics-launches-business-intelligence-tool-locushub

Jobs report: Truck transportation employment flat; warehouse jobs drop again

Jobs in the truck transportation sector mostly treaded water in February while warehouse jobs continued their long slide, according to the monthly report from the Bureau of Labor Statistics.

In the truck transportation sector, the loss of 300 jobs was the smallest one-month change up or down since August 2022, when an increase of 300 jobs was recorded. The total for February was 1,551,200 jobs.

More significantly, on a seasonally adjusted basis, the January figure of 1,551,500 jobs was down 4,200...

https://www.freightwaves.com/news/jobs-report-truck-transportation-employment-flat-warehouse-jobs-drop-again

Teamsters, Anheuser-Busch reach new 5-year contract

The contract agreement reached this week between the Teamsters union and Anheuser-Busch, averting a strike that could have begun Friday, calls for wage increases of $8 an hour over the five years of the deal. A $4-per-hour raise kicks in immediately.

Anheuser-Busch (NYSE: BUD) announced the deal late Wednesday. It awaits ratification in the coming days by approximately 5,000 workers across the company’s U.S. operations. 

The new contract also calls for a $2,500 ratification bonus.

As to whether...

https://www.freightwaves.com/news/teamsters-anheuser-busch-reach-new-5-year-contract

GXO offers $965 million for UK logistics firm Wincanton

Contract logistics provider GXO Logistics Inc. (NYSE: GXO) said Thursday it has made a $965 million, or $7.65 per share, all-cash offer for U.K. logistics firm Wincanton, topping by 26% an offer made earlier this week by French logistics rival Ceva Logistics.

The latest step in the bidding war involving one of the U.K.’s largest logistics firms sent Wincanton’s shares soaring in London trading. Shares were up 20% from Wednesday’s close. 

Wincanton’s board earlier this week agreed to an improved,...

https://www.freightwaves.com/news/gxo-offers-965-million-for-uk-logistics-firm-wincanton

Deerfield, Chicago suburb, nixes warehouse development

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The board of trustees of the village of Deerfield, Illinois, a northern suburb of Chicago, have...

https://www.freightwaves.com/news/deerfield-chicago-suburb-nixes-warehouse-development

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