News

C.H. Robinson Worldwide to Double Spending on Freight Technology

C.H. Robinson Worldwide to Double Spending on Freight Technology

03/03/2020
C.H. Robinson Worldwide Inc., the biggest freight broker in North America, will double its technology spending over the next five years as it fends off challenges from a growing field of digital startups.The Eden Prairie, Minn.-based company plans to spend $1 billion to hire more data scientists, engineers and developers to expand its technology and develop new services in an estimated $86.5 billion U.S. domestic market for managing freight...

Tanker Operators Look to U.S. to Replace Saudi Oil Cargoes

Tanker Operators Look to U.S. to Replace Saudi Oil Cargoes

03/03/2020
U.S. crude shipments are set to rise as major Asian importers look to replenish supplies after attacks on Saudi Arabia’s oil facilities took out a big chunk of global oil output.“There are lots of inquiries for crude shipments out of the U.S. Gulf for Asian pickup,” said George Lazarides, head of research and valuations at Athens, Greece-based vessel brokerage Allied Shipbroking. “We expect that it will take at least three weeks for the disrupted...

Uber Seeks to Build Up Freight Business

Uber Seeks to Build Up Freight Business

03/03/2020
Uber Technologies Inc. is digging deeper into the freight business, ramping up hiring at a planned new hub in Chicago and rolling out logistics services even as its core ride-hailing business continues to post steep losses.The company’s Uber Freight said Tuesday it is expanding a service aimed at making it easier for truckers to pick up already-loaded trailers ready for transport. It is the latest in a stream of upgrades at the business as it looks...