Transportation Happenings – April 24, 2017

Source: Bob Griffin
The following “Transportation Happenings” occurred during the past week that you may find of interest:
1. FEDEX and UPS were #1 and #2 in the World for 2016 with respect to Revenue. Together their Revenues exceeded $100 Billion with FEDEX being only slightly ahead.
2. In the first quarter 2017, WERNER TRANSPORTATION’s revenues were up but, their profits were down.
3. A container chassis lease is NOT a MARITIME CONTRACT.
4. As further indication of an ocean freight turnaround, COSCO PORTS is reporting that Revenues during March 2017 are up 10% over the previous Year.
5. Container Shipping Companies continue to take delivery of much larger ships and continue to sell-off/scrap older vessels. Likewise, these same Companies are bringing pressure on Ports/Terminals to “rapidly upgrade” to accommodate these new ships.