https://www.lloydslist.com/LL1148964/MPC Container Ships splits top job
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Philly Shipyard and HD Hyundai sign MOU on potential business relationship
Philly Shipyard Inc., the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), and South Korea’s HD Hyundai Heavy Industries Co. Ltd. (a subsidiary of HD Hyundai Group, have signed a memorandum of understanding (MOU) to explore a potential business relationship relating to future U.S. government shipbuilding projects as well as maintenance, repair and overhaul (MRO) projects.
Philly Shipyard previously partnered with HD Hyundai for design and procurement support during the construction...
Knight-Swift focuses on cost reductions, asset utilization
Knight-Swift Transportation said it is focused on reducing costs throughout the organization. That includes culling trailer counts, as well as tractor counts in some areas, to improve asset utilization. It is prioritizing investment dollars toward the expansion of its less-than-truckload business in the near-term.
Like many in the truckload arena, the company was busy adding trailing equipment in recent years to provide customers flexibility through trailer pools and to build out a power-only...
https://www.freightwaves.com/news/knight-swift-focuses-on-cost-reductions-asset-utilization
No surprises in Norfolk Southern earnings as COO Orr makes debut
The elephant in the room on the Norfolk Southern earnings call made only a brief appearance. But it will be returning in about two weeks.
There were no surprises in the first-quarter earnings report, as the Class 1 railroad (NYSE: NSC) had issued a preliminary report earlier in the month. The final numbers, showing a significant drop in earnings related to the East Palestine, Ohio, derailment in February 2023, were in line with those preliminary figures. The East Palestine derailment saw 38 cars...
https://www.freightwaves.com/news/no-surprises-in-norfolk-southern-earnings-as-coo-orr-makes-debut
Logistics company founder shares how owner-operators can find success
FIRESIDE CHAT TOPIC: How owner-operators can position themselves for success
DETAILS: Brielle Jaekel of FreightWaves and Adam Wingfield, founder of Innovative Logistics Group, discuss strategies for maximizing profitability. The North Carolina-based company serves small carriers.
KEY QUOTES FROM WINGFIELD:
“You have to know what profitability looks like to your independent business. Every business in the trucking industry is different, and every truck that hits the highway has a different...
Covenant’s operating numbers mostly hold up in challenging first quarter
In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well.
Covenant’s adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago. According to SeekingAlpha, that figure beat the consensus forecast by 4 cents per share. But adjusted operating income, the most basic profitability measure, rose to $14.8...