Archive for Press - page 27

It’s annual-contract negotiation season for U.S. importers — and the hand they’ve been dealt couldn’t be worse. The deck is heavily stacked in ocean carriers’ favor. Incredibly, Asia-West Coast spot rates are now nearing a base rate of $5,000 per […]

The COVID-19 pandemic forced more than 3,000 trucking companies out of business in 2020 — a significant leap from about 1,000 the year prior — as the early months of the global health crisis proved too difficult for some in […]

Carol Tomé is shifting the delivery giant’s focus to the bottom line, weeding out less-profitable customers in a high-speed overhaul; ‘Time for us to pivot’ Carol Tomé took over United Parcel Service Inc. in the middle of a pandemic that […]

Updated Friday February 19, 2021 at 09:05AM A second winter storm this week slammed parts of the South Wednesday and Thursday, with at least 10 cities reporting multiple daily records for snowfall and low temperatures. Fortunately, this storm exited the […]

CEO vows quick action to negotiate with customers or ultimately cut them loose after acquisition closes. TFI International (NYSE: TFII) plans to aggressively improve margins at UPS Freight after its $800 million acquisition closes by reining in unprofitable business. The plan: renegotiate […]

UPS announced their 2021 rate increases will be made effective on February 22, 2021. The increases came just months after the FedEx and USPS announcements of upcoming rate increases. This is normal as FedEx and UPS routinely announce increased rates and new surcharges and fees […]

Top less-than-truckload (LTL) executives and analysts are predicting a bullish year for the $46 billion sector in 2021. LTL Rate Increase Despite disruptions from the coronavirus and resulting changes in demand levels from their customers, leading LTL companies are extracting rate increases […]

UPS Inc. (NYSE:UPS) CEO Carol Tomé has pulled the plug on the company’s often-difficult 15-year foray into the less-than-truckload business. The Atlanta-based giant’s $800 million sale of UPS Freight to Canadian concern TFI International Inc. (NYSE and TSX: TFII), reflects Tomé’s belief […]

TFI International has agreed to acquire UPS Freight for about $800 million, the Canadian trucking and logistics company and UPS said Monday, in a deal that will transform it into a North American less-than-truckload juggernaut. The deal, expected to close […]

In the movie “Falling Down,” the character played by Michael Douglas is stranded in a Los Angeles traffic jam. He abandons his car, starts walking with briefcase in hand and ultimately has a mental breakdown. Cargo shippers trying to get […]