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Transportation & Distribution: Page 54

Delivery Slowdown Drives UPS Earnings Down

The package carrier took an extra hit last quarter from its contract talks with the Teamsters union, which UPS says resulted in $1 billion in lost revenue.

ILWU Canada Ratifies Labor Deal

The British Columbia Maritime Employers Association ratified the agreement on July 31.

Ships at the Port of Vancouver during a dockworkers strike on July 5. Photographer: Jimmy Jeong/Bloomberg

Everyone Wants to Work at UPS After Union Scores $170,000 Driver Pay

The pay is above industry standards, but enthusiastic UPS-wannabes should know that the path to a coveted driving position is far from a smooth ride.

Photo: Bloomberg

Cargo Airline Western Global Goes Bankrupt After Facing Cash Crunch

The filing comes nearly three years after the airline tapped the junk bond market for the first time in summer 2020 amid the pandemic-era boom and cheap credit.

Photo: iStock.com/Gam1983

Ukrainian Naval Drones Attack Russian Black Sea Port

The strike on August 4 came after Russia hit numerous port and grain-terminal targets, disrupting Ukraine’s ability to export grain.

Photo: iStock.com/IherPhoto

Suez Canal Tugboat Sinks After Collision Leaving One Person Missing

A salvage team rescued six of the seven crew from the sunken tugboat, and a search was ongoing for the missing crew member.

Suez Canal. Photo: iStock.com/IgorSPb

OPEC+ Reaffirms Strategy as Saudis Extend Unilateral Oil Cut

A monitoring committee composed of the kingdom and other key OPEC+ nations recommended no changes to the coalition’s supply policy during an August 4 online meeting.

Photo: Bloomberg

Tech Giants Pause Indian Laptop Imports Under New Licensing Rule

Shipments that have already been ordered will be allowed into the country without licenses until August 31, 2023, an unnamed government source said.

Saigon, Vietnam. Photo: iStock.com/NguyenDucQuang

Saudi Arabia Extends 1M-Barrel Oil Cut, Says It Can Be Deepened

The leader of the Organization of Petroleum Exporting Countries (OPEC) will continue the cutback of 1 million barrels a day into September.

Photo: iStock.com/Guven Polat

Hanwha Ocean Secures LNG Carrier Order Worth Almost $260M

Hanwha won the contract from an undisclosed client based in Asia and will deliver the LNG tanker to the customer during the first half of 2027.

Seoul, South Korea. Photo: iStock.com/Mirko Kuzmanovic

Global Grain Prices Soar Following Russian Attack on Ukrainian Port

The EU warned developing countries that Russia would begin offering cheap grain as a way to create new dependencies stemming from economic vulnerabilities and global food insecurity.

Photo: iStock.com/Iryna Mylinska

U.S. Bans Goods from Two Chinese Companies Under Forced Labor Law

The Department of Homeland Security enforced the restrictions because both organizations utilized business practices that targeted members of persecuted groups in China.

Photo: iStock.com/Andrii Koval

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How a Leading U.S. Floral Distribution Company Reduced Warehouse Labor Costs by 45% with RFID

Recycled Tagging Fasteners: Small Changes Make a Big Impact

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Enhancing High-Value Electronics Shipment Security with Tive's Real-Time Tracking

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