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Industry News
Agricultural exports continue to drive growth at Port of Oakland
Port of Oakland containerized fresh fruit and vegetable shipments have surged by 36 percent since 2013, according to data released today.
CMA CGM heralds planned deal to acquire 25% of CEVA Logistics
CMA GGM said that the objective of this deal is to “grow its presence in the logistics sector, which is closely related to shipping.” And it added that the closing of this deal is subject to the completion of CEVA’s planned IPO on the SIX Swiss Exchange, which was announced on April 20, in addition to approval from regulatory authorities.
Cushman & Wakefield report says there is no sign of slowing in the industrial real estate market
In the first quarter, Cushman & Wakefield said that United States industrial markets absorbed 56.9 million square feet, which marks the fourth strongest start to a year in the last 30 years, with 2016, a record year, and previous cycle highs in 2007 and 1999 seeing higher absorption rates.
XPO hires industry veteran Wagers as COO
Global freight transportation and logistics services provider XPO Logistics Inc. announced two significant executive appointments this week, with the hiring of Kenneth Wagers as chief operating officer, a position in which he will oversee XPO’s operations in 32 countries, and former chief operating officer and transportation segment Troy Cooper earning a promotion to president, which XPO said is a newly created postion.
March trucking volumes are mixed, reports ATA
The ATA’s advanced seasonally-adjusted (SA) For-Hire Truck Tonnage Index dropped 1.1% from February to March to 110 (2015=100), following a 0.8% (revised from a 2.6% decline) January to February decline.
BUILD is the new TIGER
Based on news issued by the United States Department of Transportation, the TIGER program may have roared for the final time. The reason for that comes from a Notice of Funding Opportunity issued by the DOT to apply for $1.5 billion in discretionary funding through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants program.
Diesel average sees gains for the fifth consecutive week, reports EIA
With a 2.9-cent increase, the average price per gallon for diesel now stands at $3.133 per gallon, marking the fifth consecutive weekly increase. During this period, the average has seen a cumulative 16.1-cent increase and it has gone up 9.1 cents since the week of April 9.
Q&A: Matt Castle, VP of Global Forwarding Products & Services at C.H. Robinson
Like all modes of freight transportation, especially these days, change is constant. And that is apparent in the air freight sector. Logistics Management Group News Editor Jeff Berman recently caught up with Matt Castle, VP of Global Forwarding Products & Services at C.H. Robinson, to get an inside glimpse of the current state of the market.
project44 announces $35 million in new funding
Earlier this week, Chicago-based project44, a technology services provider offering standardized, secure Web service API (application programming interfaces) integrations enabling 3PLs and shippers to connect with carriers in real time said it has continued to stay on a solid path for funding, having raised $35 million in new funding since closing a $10.5 million Series A investment of growth capital in September 2016.
AAR reports another week of volume gains for U.S. carload and intermodal
Carloads headed up 1.6% annually to 258,123, and intermodal containers and trailers rose 6.9% compared to the same period a year ago at 276,075.