Logistics company Radiant Logistics said it acquired operating partner International Freight Systems of Oregon, which has operated its airfreight division under the company's Airgroup brand since 2007. IFS is a licensed and bonded Ocean Transport Intermediary (OTI) under the Federal Maritime Commission. Radiant will maintain the International Freight Systems brand in support of the specialized ocean freight forwarding requirements of the pulp, paper and wood products industry, it said.
Trimble said it bought privately-held ALK Technologies of Princeton, N.J., which offers proprietary routing and international map-based solutions for transportation, logistics and mobile workforces. The addition of ALK is expected to extend and complement Trimble's Transportation and Logistics product portfolio, including TMW Systems' transportation management solutions, PeopleNet's integrated onboard computing and mobile communications systems and GEOTrac's fleet management and worker safety solutions for the oil and gas industry, it said. ALK software includes CoPilot Live, which offers onboard GPS navigation for professional drivers; and PC*MILER for logistics, manufacturing, government and transportation operations.
Freight forwarder Lynden International opened a new service center in Edmonton, Alberta, Canada, Jan. 1, it said. The new location is to meet the increasing demand for transportation and logistics services for Canada's oil and gas industry, it said. The new service center is at the Edmonton International Airport in Nisku, AB.
Domestic and international freight company Radiant Logistics said it was awarded more than $650,000 in damages from the former shareholders of DBA Distribution Services, which it bought in March 2011. An arbitrator said the DBA shareholders breached representations and warranties, and awarded Radiant Logistics $654,052 for the breaches, Radiant said. The arbitrator also said Paul Pollara breached his noncompetition obligation to Radiant and enjoined Pollara from engaging in any activity in contravention of his obligations of noncompetition and nonsolicitation, including activities that relate to Santini Productions until Dec. 29, 2014. Pollara was ordered to pay Radiant more than $21,000, the amount of salary he received while employed by DBA and concurrently violating his noncompetition and nonsolicitation obligations, it said.
UPS announced a new express air freight service, UPS Worldwide Express FreightSM, for urgent, time-sensitive and high-value international heavyweight shipments. The service is an extension of the UPS Worldwide Express package portfolio and offers customers a seamless experience between shipping express package and express freight, it said. It means customers can ship pallets over 150 lbs. as easily as packages exclusively within UPS’s global air network from 37 origins to 41 destination countries and territories. It has guaranteed, day-definite, door-to-door service. Two-day shipping is available to Europe from Asia Pacific, the U.S., and the Americas.
Textainer Group Holdings said it acquired a 50.1% interest in TAP Funding, which owns about 99,000 TEU (twenty-foot equivalent unit) of containers, currently managed by Textainer, for about $78 million. The buy includes a well-diversified mix of container types, including standard dry freight, refrigerated and specialized dry freight containers, it said, and has high utilization and a diversified lessee mix. In 2012, Textainer acquired more than 230,000 TEU from managed container acquisitions and increased the percentage of its owned fleet from 59% at the start of 2012 to 71% including this transaction, it said.
EOG Resources said it agreed to sell its interest in the Kitimat LNG facility to Chevron Canada. The transaction, subject to approval by Canadian regulatory authorities, is expected to close by the end of the first quarter 2013. The agreement includes EOG Canada's 30 percent interest in the planned natural gas liquefaction and export facility on British Columbia's west coast and associated Pacific Trail Pipelines project.
FedEx Corp. said operating income for the quarter ended Nov. 30 improved at FedEx Freight and FedEx Ground due to increased volumes and higher yields, but persistent weakness in the global economy and increased demand for lower-yielding international services limited profits at FedEx Express. Chairman Frederick Smith said "earnings also were negatively impacted by disruptions caused by Superstorm Sandy, [but] we are hard at work on another record-setting holiday shipping season." FedEx Corp. reported revenue of $11.1 billion, up 5% from the previous year, operating income of $718 million, down 8%, and net income of $438 million, down 12%.
uShip.com said it closed an $18 million round of financing with Kleiner Perkins Caufield & Byers to extend the development, marketing and sales of uShip’s commercial freight platform, mobile platform and global presence. The funding will also enable uShip to further develop its new “PRO” platform (currently in private beta), which allows business shippers and freight brokers to build their own carrier networks, as well as efficiently manage and automate their shipping operations.
Providing almost no details, Hapag-Lloyd and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft container lines confirmed that they're looking at a merger. They said Dec. 18 only that their executive boards, "in agreement with their shareholders, are investigating if, and under what conditions, a merger of both companies would be of interest."