Pentagon wants to buy 10 cargo ships to bolster aging logistics fleet
The head of logistics for the United States' armed forces is calling for the purchase of 10 used cargo ships to bolster the aging fleet that supports American military operations overseas.
Air Force Gen. Randall Reed, Commander of United States Transportation Command (USTRANSCOM), made the request in a prepared statement at a hearing Thursday of the Senate Armed Services Committee. He expressed concern about the advanced age and declining readiness of the Ready Reserve Force, which is critical for positioning equipment and supplies from the U.S. during conflicts or crises.
According to Reed, the median age of the fleet's 46 roll-on/roll-off ships is 47 years, with 14 ships being 50 years or older, some steam-powered. This aging fleet poses risks to USTRANSCOM's ability to rapidly deploy forces and equipment globally when needed.
To address this issue, USTRANSCOM is supporting a Navy strategy to recapitalize the government-owned sealift fleet by acquiring used ships from the commercial market. So far, seven used vessels have been purchased, with two more expected in fiscal year 2025. This will add over 1.5 million square feet of useful capacity, Reed said in prepared remarks.
However, Reed emphasized that more ships are urgently needed, as 30 existing vessels are scheduled for retirement between 2026 and 2034. He called the ability to purchase 10 used ships 'vital to maintain credible deterrence globally.'
The general framed the recapitalization as part of a broader effort to preserve USTRANSCOM's unique capabilities in projecting American military power worldwide. He noted that no other nation or combination of nations can match the U.S. global airlift and sealift capacity.
Reed tied the need for fleet modernization to increasing challenges from adversaries like China, which he said is actively seeking to compromise foreign infrastructure and hinder U.S. mobility. He warned that aging transportation assets, in the face of more capable adversaries, underscore the need for recapitalization across air, sea and land mobility forces.
Beyond sealift, Reed also highlighted readiness concerns with the Air Force's aging KC-135 air refueling tankers and called for accelerated fielding of new KC-46 tankers. He described the air refueling fleet as USTRANSCOM's 'most stressed' capability.
The USTRANSCOM commander's push for 10 additional cargo ships comes as part of a comprehensive effort to modernize America's military logistics capabilities. Reed emphasized that maintaining robust sealift capacity is crucial for deterring adversaries, reassuring allies, and giving national leaders strategic flexibility in responding to global crises.
Find more articles by Stuart Chirls here.Container volumes post third-best January at Port of NY-NJ
US shipyard for first time 3D printing parts for new aircraft carriers
Stay flexible in a convoluted market, experts tell ocean shippers
CMA CGM to invest $20B in US shipping, supply chain capabilities
The post Pentagon wants to buy 10 cargo ships to bolster aging logistics fleet appeared first on FreightWaves.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Newsweek
13 minutes ago
- Newsweek
Gavin Newsom Compares Donald Trump to Emperor Palpatine
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. California Gov. Gavin Newsom's office shared a meme portraying President Donald Trump as Star Wars villain Emperor Palpatine. In the video, Palpatine's voice reads out a Truth Social post by Trump talking about the riots in Los Angeles. The Democratic governor and Republican president have clashed over the latter's decision to send in National Guard troops and Marines to quell the disorder that erupted from protests against federal immigration raids in Los Angeles. A ONCE GREAT AMERICAN CITY HAS BEEN OCCUPIED! — Governor Newsom Press Office (@GovPressOffice) June 10, 2025 This is a developing article. Updates to follow.
Yahoo
13 minutes ago
- Yahoo
Will Tesla revenue soar after Musk-Trump rift? Here's a historic breakdown and 2025 update
Tesla has been on a bumpy road in 2025, showing a nearly 10% drop in revenue in the third quarter of this year. Elon Musk, one of the co-founders and prominent figureheads in the United States and beyond, continues to be outspoken and adamant about electric vehicles and the future of the American automotive industry. While political venom stemming from his time overseeing the Department of Government Efficiency (DOGE) was most likely a factor for the drops, some of that possibly shifted with one hit of the send button on X. A new ballgame? Here's a look at Tesla's meteoric rise in revenue each year since 2008 and the current numbers in 2025. Revenue: $15 million Revenue: $112 million Revenue: $117 million Revenue: $204 million Revenue: $413 million Revenue: $2.014 billion Revenue: $3.198 billion Revenue: $4.046 billion Revenue: $7 billion Revenue: $11.759 billion Revenue: $21.461 billion Revenue: $24.578 billion Revenue: $31.536 billion Revenue: $53.823 billion Revenue: $81.462 billion Revenue: $96.773 billion Revenue: $97.69 billion Tesla has endured a 9.23% decrease in Q3: S19.34 billion. Overall, the company is 1.03% up year over year. This article originally appeared on The List Wire: Tesla revenue totals since 2008, when Elon Musk co-founded company Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
Institutions own 29% of Kossan Rubber Industries Bhd (KLSE:KOSSAN) shares but private companies control 36% of the company
The considerable ownership by private companies in Kossan Rubber Industries Bhd indicates that they collectively have a greater say in management and business strategy 53% of the business is held by the top 5 shareholders Insiders own 14% of Kossan Rubber Industries Bhd Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Every investor in Kossan Rubber Industries Bhd (KLSE:KOSSAN) should be aware of the most powerful shareholder groups. We can see that private companies own the lion's share in the company with 36% ownership. Put another way, the group faces the maximum upside potential (or downside risk). Meanwhile, institutions make up 29% of the company's shareholders. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Let's take a closer look to see what the different types of shareholders can tell us about Kossan Rubber Industries Bhd. See our latest analysis for Kossan Rubber Industries Bhd Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. As you can see, institutional investors have a fair amount of stake in Kossan Rubber Industries Bhd. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Kossan Rubber Industries Bhd's historic earnings and revenue below, but keep in mind there's always more to the story. Kossan Rubber Industries Bhd is not owned by hedge funds. Our data shows that Kossan Holdings (M) Sdn Bhd is the largest shareholder with 35% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 5.7% and 5.6%, of the shares outstanding, respectively. Additionally, the company's CEO Kuang Sia Lim directly holds 2.8% of the total shares outstanding. Our research also brought to light the fact that roughly 53% of the company is controlled by the top 5 shareholders suggesting that these owners wield significant influence on the business. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. It seems insiders own a significant proportion of Kossan Rubber Industries Bhd. It is very interesting to see that insiders have a meaningful RM608m stake in this RM4.3b business. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. You can click here to see if those insiders have been buying or selling. The general public, who are usually individual investors, hold a 21% stake in Kossan Rubber Industries Bhd. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. We can see that Private Companies own 36%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand Kossan Rubber Industries Bhd better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 1 warning sign with Kossan Rubber Industries Bhd , and understanding them should be part of your investment process. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio