18 Oct UPS’ New Automated Sorting Facility in Atlanta Is Up and Running ATLANTA — UPS Inc. is looking to the future with its new Southeast Metro Automated Routing Terminal. About the size of 19 football fields, the automated facility can be expanded to increase the 1,700 packages a minute it is able to process now. Read more...
17 Oct Second FedEx Ground Station Opens in Oklahoma City FedEx Corp. has operated one 180,000-square-foot shipping station in Oklahoma City since 2006, and on Oct. 16 it celebrated the grand opening of a 270,000-square-foot shipping facility in north Oklahoma City to more than double its warehouse space in the area. Read more...
17 Oct Marten Transport Posts Record Results in Third Quarter Marten Transport Ltd. reported its best quarterly operating results ever, among the first of what is expected to be a string of bullish financial reports from trucking companies in the third quarter. Read more...
17 Oct Heartland Express Returns to Historical Levels of Profitability Heartland Express Inc. is getting back to its old self. The North Liberty, Iowa-based truckload carrier has been battling to restore its historically rich profit margins after the acquisition of Interstate Distributor Co. in July 2017. Read more...
17 Oct Freight-Related Startups, Tech Firms Continue to Attract Investment Interest in freight-related startups and technology continues to grow, as evidenced by several recent investment deals as well as a first-of-its-kind Founders Camp whereby representatives from 20 startup firms met with trucking executives and shippers in Chattanooga, Tenn., to exchange ideas for new products and services. Read more...
17 Oct Tesla Secures Land in Shanghai for First Foreign Factory BEIJING — Electric auto brand Tesla Inc. said it signed an agreement Oct. 17 to secure land in Shanghai for its first factory outside the United States, pushing ahead with development despite mounting U.S.-Chinese trade tensions. Read more...
17 Oct Midterms 2018: Key Transportation Democrats in Tough Election Contests Sen. Bill Nelson of Florida, the ranking member of the transportation committee, is one of several Democrats on the midterm ballot. Here's how transportation Democrats may fare. Read more...
17 Oct FreightRover Gets Backing to Launch Freight Payment Service FreightRover, a company launched a year ago by a former top executive at Celadon Group to provide technology to automate vendor payments, has secured a financing facility of up to $500 million from Crayhill Capital Management and other investors to support a new business that will offer trade finance and freight factoring services. Read more...
17 Oct Housing Starts Sank 5.3% in September WASHINGTON — U.S. home construction fell 5.3% in September, a sign that recent hurricanes and rising mortgage rates may be weighing on the market. Read more...
17 Oct Volvo: ‘Not Clear’ How Many North American Vehicles Are Affected by Component Issue Volvo Group said it could not yet determine the impact of a faulty component on its North American trucks as it was still evaluating the scope of the problem. Read more...