Latest news with #FreightWaves
Yahoo
12 hours ago
- Business
- Yahoo
HK company offers stake in port terminals sale to Chinese company
One of the largest operators of global port terminals said it has offered a stake in its pending sale to a Chinese investor. In a filing with the Hong Kong Stock Exchange, CK Hutchison said its planned sale of dozens of port facilities would include a major strategic investor from mainland China. The company ( in March announced plans to sell more than 40 container terminals under its Hutchison Port Holdings unit to a consortium led by BlackRock, the U.S. asset manager, that includes Geneva-based shipping line MSC, for $23 billion. But Beijing said it would block the transaction if it didn't get a cut of the deal. Published reports identified the investor as Chinese maritime conglomerate Cosco, which had been identified by the U.S. as an arm of China's military that had used unfair trade practices to dominate the shipping and shipbuilding industries. The filing stated that the exclusive negotiation period with the consortium regarding the sale of Hutchison Ports Group had expired but that discussions with members of the group continue. The reports said Cosco could receive a stake in 41 port properties except the pair near the Panama Canal that the Trump administration claimed are under Chinese influence. Hutchison had no comment. BlackRock and Costco did not immediately respond to requests by FreightWaves for comment. Find more articles by Stuart Chirls Korea offers billions to help make US shipbuilding 'great again' Houthis make new threats against Israel-linked shipping Trade flows boost China, Europe ports while tariffs pain US gateways CMA CGM container vessel becomes largest under U.S. flag The post HK company offers stake in port terminals sale to Chinese company appeared first on FreightWaves. Sign in to access your portfolio
Yahoo
6 days ago
- Automotive
- Yahoo
Roadrunner adds over 100 lanes, establishes Kansas City hub
Less-than-truckload carrier Roadrunner announced Thursday it has added more than 100 lanes and established Kansas City as a major hub in its network. All major geographical regions of the U.S. saw lane additions, with the industrial-oriented Midwest experiencing the most significant expansion. Roadrunner said most key markets in the Midwest now have direct service into its new Kansas City hub. Roadrunner (OTC: RRTS) also improved network connectivity between locations in the Northeastern, Southern and Western U.S. to the interior of the country. 'The addition of new lanes into our Smart Network speaks volumes about the level of service we're delivering,' said Tomasz Jamroz, president and chief operating officer, in a news release. 'This expansion moves us closer to our goal of becoming the preeminent long-haul LTL carrier in the country.' Jamroz said the company recently logged a fourth straight month of record gains in its service metrics. Roadrunner also expanded its guaranteed service offering, adding more than 21,000 miles of coverage in the U.S. and Canada. New guaranteed lanes include: Houston-to-Atlanta, Philadelphia-to-Dallas, Seattle-to-Dallas, San Francisco-to-Chicago, as well as certain originations from Commerce, California and Milwaukee. The carrier now has more than 60 guaranteed lanes. 'Our commitment to a direct-run Smart Network gives shippers more control and reliability —especially as others in the market contract,' said Shari Leon, vice president of linehaul operations at Roadrunner. Leon said the expanded service is improving transit times and reducing shipment handoffs, which minimizes damages. 'This scale-up into high-demand cities showcases the power of our over-the-road model and precision linehaul planning,' Leon said. The company added 278 lanes to its direct metro-to-metro, long-haul network in March. Roadrunner provides a national LTL service footprint through a network of more than 40 terminals and over 1,000 independent drivers. The post Roadrunner adds over 100 lanes, establishes Kansas City hub appeared first on FreightWaves.
Yahoo
22-07-2025
- Business
- Yahoo
Cass and FreightWaves SONAR Revolutionize Freight Management with Seamless SSO Integration, Unlocking Advanced Supply Chain Intelligence
Complimentary Access to SONAR SCI via Cass's SSO Integration During July and August St. Louis, MO & Chattanooga, TN — July 15, 2025 — Cass Information Systems (NASDAQ: Cass), the leading provider of freight audit and payment services, and FreightWaves SONAR, the premier supply chain intelligence platform, are expanding their strategic partnership to offer enhanced value to mutual customers this summer. As part of the collaboration, all mutual customers of Cass and SONAR will receive complimentary access to SONAR's Supply Chain Intelligence (SCI) platform throughout July and August 2025. Access will be available seamlessly through Cass's Single Sign-On (SSO) integration, allowing users to gain insights driven by the combination of their transportation data and FreightWaves SONAR's real-time intelligence across North American markets and lanes. The SCI platform within SONAR delivers advanced analytics, predictive rate modeling, and granular transportation market intelligence—enabling shippers to make faster, more informed decisions. With SONAR SCI integrated with Cass's trusted freight audit and payment solution, shippers can unlock richer context around freight trends, market conditions, and carrier behavior—without leaving their existing workflow. 'This joint initiative reflects our shared commitment to innovation and transparency in the freight and logistics industry,' said Craig Fuller, CEO at FreightWaves. 'By offering frictionless access to SCI through Cass, we're helping shippers turn data into action—especially in an environment where every dollar and decision counts.' 'Cass continues to enhance its Decision Intelligence Suite, a portfolio of products that help our customers make smarter decisions' said Tony Urban, president of Cass's freight payment organization. 'Our expanded partnership with SONAR is another example of how we're giving our customers a competitive edge through actionable intelligence.' For Cass customers not yet using SONAR, this exclusive summer access provides an ideal opportunity to explore how SCI insights can enhance supply chain planning, budgeting, and procurement more information or a demo of this solution contact your Cass or FreightWaves SONAR representative or visit for a demo. About Cass Information Systems Cass Information Systems, Inc. (NASDAQ: CASS) is the leading provider of transportation, utility, and waste expense management and related business intelligence solutions. Cass delivers visibility, control, and cost savings through its proprietary platforms and industry expertise. About FreightWaves SONAR SONAR is the fastest, most comprehensive freight market data and analytics platform. Built by FreightWaves, SONAR delivers real-time insights into transportation pricing, capacity, volumes, and predictive analytics—empowering shippers, carriers, and 3PLs to stay ahead of the market. The post Cass and FreightWaves SONAR Revolutionize Freight Management with Seamless SSO Integration, Unlocking Advanced Supply Chain Intelligence appeared first on FreightWaves. 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
18-07-2025
- Business
- Yahoo
Drewry: Ocean rates fall for fifth straight week
Drewry's World Container Index (WCI) tracking ocean freight rates declined 2.6% this week, marking the fifth consecutive week of decreases. The analyst in an update said that the trend indicates a significant shift in market dynamics following a volatile period induced by increased U.S. tariffs in April, and a subsequent China-U.S. tariff pause. Although the tariffs initially caused a lagged market reaction that saw rates climbing in May and surging into early June, this upward trajectory has not been sustained as rates have steadily dropped since mid-June. Trans-Pacific spot rates have also felt the impact, with prices from Shanghai to Los Angeles currently down by 4% to $2,817 per forty foot equivalent unit (FEU). Similarly, rates on the Shanghai to New York route have declined by 6%, to $4,539 per FEU. Drewry said that despite these decreases, rates on both lanes remain higher than levels observed 10 weeks ago when tariff anxieties were initially escalating. Rates from Shanghai to Los Angeles are still up 4%, while those to New York have climbed by 24% compared to the figures on May 8. The overarching decline in spot rates can largely be attributed to weakening demand, which is expected to persist according to Drewry's Container Forecaster. The outlook anticipates a further weakening of the supply-demand balance in the second half of 2025, which could invariably result in continued decreases in spot rates. The future volatility and rate adjustments will hinge on subsequent trade policies, particularly any additional tariffs imposed by the Trump administration, and on potential capacity changes prompted by U.S. penalties on Chinese shipping lines. Find more articles by Stuart Chirls of Oakland containers off 10% as 'recalibration' hits ocean supply chain China could block sale of port terminals: Report Amid uncertainty, sliding Asia-US container rates are a sure thing Report: White House maritime chief leaving The post Drewry: Ocean rates fall for fifth straight week appeared first on FreightWaves.
Yahoo
17-07-2025
- Business
- Yahoo
RK Logistics appoints new head of semiconductor engineering
RK Logistics Group, a specialized logistics provider based in Fremont, California, has appointed Brian Saucier as director of semiconductor engineering and campus support services. Saucier brings more than 30 years of experience in complex supply chain operations and business development. His appointment aligns with RK Logistics' strategic expansion into cost-effective third-party solutions tailored for the semiconductor industry. In his new role, Saucier will advocate for the benefits of strategically outsourcing engineering and campus support operations to Silicon Valley companies, aiming to help reduce operational costs by 25–35%. 'Brian's appointment represents our strengthened commitment to delivering transformational economic value to the semiconductor engineering community,' said Joe MacLean, CEO of RK Logistics Group, in a news release emailed to FreightWaves. 'Outsourcing isn't just about cost savings—it's about converting fixed costs into variable ones, accessing specialized expertise, and elevating operational performance in ways that would be cost-prohibitive to achieve internally.' Saucier has held senior roles at leading logistics firms, including vice president of business development at XPO Logistics and logistics lead at AECOM. 'The semiconductor and technology sectors require a level of operational excellence that surpasses conventional approaches,' Saucier said. 'RK Logistics' 40-plus years of experience serving Silicon Valley, coupled with our Six Sigma+ performance standards, offers a unique value proposition for companies looking to streamline operations, expand their footprint, and achieve significant cost savings.' According to RK Logistics, its strategic shift toward outsourced engineering and campus support services can reduce labor costs by 30–50% and cut facilities and administrative overhead by 15–25%. 'The economic case for outsourcing has never been stronger,' MacLean added. 'Our clients typically realize total operational cost reductions of 25–35% within the first year, while also improving service quality and operational performance. This is about doing things smarter—not just cheaper.' The post RK Logistics appoints new head of semiconductor engineering appeared first on FreightWaves.
