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Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
California invests over $1.5B in port infrastructure, including $450M for zero-emission projects, to boost efficiency, sustainability, and resilience in its supply chain.
Governor Gavin Newsom of California has announced an investment of over $1.5 billion, including about $450 million for zero-emission projects, aimed at building a more efficient, sustainable, and resilient supply chain in the state. This investment, which is anticipated to generate around 20,000 jobs, will fund 15 projects that increase the capacity to move goods throughout the state, reduce environmental impacts, and provide safety improvements. Included are major upgrades at the ports of Los Angeles and Long Beach – the busiest ports in the Western Hemisphere. The funding supports the state's efforts to combat climate change, enhance its supply chain infrastructure, and maintain its critical role in the national and global economy.
Source: CA.gov
California is investing $1.5 billion to modernize global trade centers like @PortofLA & @portoflongbeach - reducing pollution & creating 20k jobs.
— Office of the Governor of California (@CAgovernor) July 6, 2023
We're upgrading our nation-leading supply chain infrastructure to move goods more sustainably & efficiently. https://t.co/gFaRNeRpdC
The Port of Los Angeles processed 752,893 20-foot equivalent units for the month of May. A 3% decline from the 779,140 moved around this time a year ago.
East Coast port strike looms while LA imports fall slightly. But bigger storm brewing as ocean freight rates could hit $20,000 per container.
Plus, the Port of Los Angeles posted its 11th straight month of year-over-year gains in exports, processing 770,337 total TEUs, up 12% from last year.
With the port gradually reopening, this Baltimore trucking firm navigates ongoing disruptions while keeping drivers employed.
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