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...Apollo Global Management has shed its financial exposure to failed US trucking company Yellow, selling off a $500mn term loan and dropping plans to extend pricey financing to fund the freight group’s bankruptcy...
...Simply stated, we’re in a freight recession....
...that while sales had recovered along the retail rebound in 2021 following pandemic lockdowns, the group’s liquidity had been hit by investments to improve its supply chain and the higher cost of using air freight...
...Freshfields Bruckhaus Deringer O: 6; L: 8; I: 7; Total: 21Freshfields advised Li & Fung on the sale of its logistics arm, LF Logistics, to Danish shipping group Maersk, and the buying back of the global freight...
...Google and other tech companies tend to be indifferent to the prestige conveyed by a Fifth Avenue address, but are stirred by the character of an old biscuit factory or a converted freight terminal....
...Waymo is partnering commercial vehicle group Daimler Trucks to power big-rig lorries, as Alphabet’s driverless technology unit moves its technology beyond carrying passengers to hauling freight....
...Dozens of states and territories have launched the first US antitrust challenge to Google’s core search engine, and a surge of stockpiling by UK companies before the end of the Brexit transition period on...
...as promising to all but eliminate fatal road accidents by removing human error, self-driving technology also potentially opens the way for a suite of new business models, from robo-taxis to autonomous freight...
...Supporters claim it will be as revolutionary in software development as shipping containers have been in the movement of freight....
...DFDS, a Danish ferry company, last week warned its profits were already dropping because of a slowdown on Channel sea freight routes....
...By contrast, the mayor of San Jose, Sam Liccardo, bragged on Twitter this week that Google was “paying full freight on land, fees and taxes” for its development in his city....
...ANZ analysts noted that despite steel futures in China remaining “relatively quiet” and a rise in stockpiles at Chinese ports, the benchmark spot iron ore price – 62 per cent fines, including freight, at...
...Along with the challenges in the oil & gas business posed by continued weakness in the global oil field services industry and the downturn in the North American market for freight locomotives, GE has to...
...On Friday, the benchmark spot iron ore price – 62 per cent fines, including freight, at Qingdao – lifted 2.9 per cent and moved above $70 a tonne for the first time in more than two months....
...A series of underground utility tunnels will house utilities like electrical wires and water pipes, and also provide pathways for freight-delivering robots....
...But as freight rates collapsed, the company defaulted and went into a restructuring three years ago. Its debt traded down to only 70-odd cents on the dollar....
...Britain may soon have a novel way to tackle road congestion — an underground network of pipes that propel freight-packed capsules to their destination which could lead to fewer trucks on the road....
...On an all-in basis — including mining costs, freight and value in use premium — it reckons the Brazilian company has leapfrogged Rio and BHP....
...Founded in 1915 to move coal along the Kentucky River, the company freights a wide range of goods, from chemicals and fertilisers to construction materials, coal and grains....
...Operating income at FedEx freight grew 1 per cent to $77m, on revenue up 4 per cent to $1.43bn....
...This summer Carlyle committed more than $100m to InterLink Maritime, allowing it to order ten bulk carrier ships, while in September Apollo Global Management committed to a joint venture with German freight...
...Short-line and regional railways collectively have annual freight sales of about $3bn, compared to annual freight sales of $60bn at the seven national railways. Genesee was advised by Bank of America....
...Set against their seven national peers (annual freight sales: $60bn), the 560 or so short-line and regional railways (annual freight sales: $3bn) can seem a little like toys. They are not....
...Two other railway operators – Globaltrans, a private Russian rail freight operator, and TransContainer, the container arm of Russia’s state-owned rail company – are listed in London....
...The integrated rail company, which owns the track and operates all the rail services in Georgia, earned 95 per cent of its $286m in revenues last year from freight. It made a net profit of $104m....
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