Echo Global Logistics inks definitive agreement to acquire Roadtex

Chicago-based third-party logistics and technology-enabled transportation services provider Echo Global Logistics said this week that it has inked a definitive agreement to acquire Somerset, N.J.-based Roadtex Transportation Corporation, a national provider of integrated temperature-controlled supply chain services, for the confectionary, food, nutrition, and pharmaceutical mass retailer end-markets. A purchase price was not disclosed. Established in 1922,… Continue reading Echo Global Logistics inks definitive agreement to acquire Roadtex

This Week in Logistics News (April 30 – May 6)

At some point, it seems we all have the need for speed. That being said, would you go over 280 MPH in a car? Better yet, would go over 280 MPH in a 3-D printed car? Well, according to Czinger, a Los Angeles-based boutique hypercar manufacturer, that is about to be a possibility. According to… Continue reading This Week in Logistics News (April 30 – May 6)

Global Logistics: Forwarders face unstable times

Some observers expect further lockdowns in China, say nothing of the disruptions and concerns caused by the Russian invasion of Ukraine. “In January 2021, people said surely things cannot get worse in the new year,” says Lars Jensen, CEO and partner of Vespucci Maritime. “Then 2021 happened, and now we have a dĂ©jĂ  vu in 2022 with… Continue reading Global Logistics: Forwarders face unstable times

Q1 industrial real estate activity sees continuation of strong market conditions, reports JLL

Data issued today by Chicago-based industrial real estate firm JLL highlighted very strong fundamentals for the U.S.-based industrial real estate market, for the first quarter. In its “U.S. Industrial Outlook: Q1 2022,” JLL observed various takeaways reflecting how competitive market conditions continue to give landlords what JLL Senior Director Mehtab Randhawa called the edge in… Continue reading Q1 industrial real estate activity sees continuation of strong market conditions, reports JLL

GXO Logistics posts strong Q1 2022 earnings results

First quarter 2022 earnings for Greenwich, Conn.-based global contract logistics services provider GXO Logistics saw strong results, the company reported earlier today. This was GXO’s third standalone earnings release since it was spun off from XPO Logistics in August 2021. GXO reported that first quarter revenue saw a 14% annual gain, to $2.1 billion. Net income… Continue reading GXO Logistics posts strong Q1 2022 earnings results

2022 Robotics Survey: The logistics robots have arrived

The optimization, integration, automation and management of material goods and data within the four walls of a warehouse or distribution center (DC), intralogistics has been getting a lot of attention lately due to the ongoing impacts of the pandemic, the growing labor shortage, the uptick in e-commerce orders and ever-evolving consumer preferences. The exhibition hall… Continue reading 2022 Robotics Survey: The logistics robots have arrived

April Services PMI is off from March but still is strong, reports ISM

While coming in slightly below March’s levels, services economy activity, for the month of April, remained strong, according to the most recent edition of the Services ISM Report on Business, which was issued today by the Institute for Supply Management (ISM). The reading for the report’s key metric— the Services PMI (formerly the Non-Manufacturing PMI)—came… Continue reading April Services PMI is off from March but still is strong, reports ISM

Logistics technology firm DoDo raises €60m

Czech firm DoDo Group, specialists in last-mile B2B logistics technology, has attracted €60m in Series B funding led by EC Investments and J&T Capital. The funds will be used to further develop DoDo’s data-driven logistics platform and drive the group’s expansion into Western and Southern Europe. The funds represent the firm’s largest investment to date, following a… Continue reading Logistics technology firm DoDo raises €60m

POLA, POLB again push back consideration of container dwell fee to May 6

The Port of Los Angeles (POLA) and the Port of Long Beach (POLB) said late last week that they have again postponed the implementation date for their ocean carrier Container Dwell Fee, which will now not be considered until May 6. This follows previous joint announcements by POLA and POLB, whom collectively account for roughly… Continue reading POLA, POLB again push back consideration of container dwell fee to May 6

Railroad service issues are examined at STB hearing

Railroad service was front and center at last week’s hearing hosted by the Surface Transportation Board (STB), an independent adjudicatory and economic-regulatory agency charged by Congress with resolving railroad rate and service disputes and reviewing proposed railroad mergers. The hearing, entitled “Urgent Issues in Freight Rail Service,” was comprised of feedback from executive-level officials, including… Continue reading Railroad service issues are examined at STB hearing