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Amazon agrees to take equity stake in Canadian airline Cargojet

Amazon.com, Inc. (NASDAQ:AMZN) will acquire a minority equity stake in Canadian cargo airline Cargojet Inc. (TSX:CJT), Amazon’s air carrier partner in Canada, the companies said Aug. 23. Under the agreement, Cargojet will issue warrants allowing Amazon to acquire up to 9.9% of Cargojet’s voting shares at an exercise price of $91.78 a share. The warrants …

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Port Report: DP World’s profit up, as new logistics bets pay off

DP World (Nasdaq Dubai: DPW ), the fourth-largest marine terminal operator globally, reported strong increases in revenue and earnings, thanks largely to its maritime and logistics businesses. But container volumes remain down as global trade slows. The Dubai-based company reported revenue of $3.46 billion for the first half of 2019, up 32% from the year-earlier …

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Descartes acquires cloud transportation management system provider BestTransport

Canadian logistics software firm Descartes Systems (NASDAQ: DSGX ) acquired BestTransport , a U.S. cloud-based transportation management system (TMS) provider specializing in flatbed moves.  Descartes paid US$11.2 million for the Columbus, Ohio-based firm in a deal announced on August 21. BestTransport’s TMS suite serves shippers and carriers in North America and the European Union across …

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Oculus gets capital infusion to grow oilfield transport business

Oculus Transport , a western Canadian oilfield transport and logistics firm, is getting a C$45 million capital boost to fuel its growth.  Great Rock Capital, a commercial finance company based in Connecticut, said on August 21 that it had closed a senior secured term loan with Oculus.  “This capital will allow us to grow our …

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Trans Mountain resumes pipeline expansion

Trans Mountain Corporation moved to resume the expansion of its pipeline, which promises to triple the amount moving from Alberta to British Columbia by mid-2022.  Trans Mountain, owned by the Canadian government, announced on August 21 that it issued directives to contractors to mobilize for the expansion in September.  Work will likely begin soon as …

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Global logistics software company WiseTech reports huge rise in revenues and profits

Pictured: Richard White, CEO and founder of WiseTech Global. Photo: Wisetech WiseTech (ASX:WTC ), a global provider of advanced logistics software, has reported a whopping 57 percent growth in revenues and a massive 37 percent net profit after tax for its full 2018-2019 financial year. Revenues generated in the last financial year stood at A$348.3 …

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Indian regulator clears Canadian pension fund stake in Delhivery

An Indian government regulator cleared the way for the investment arm of Canada’s public pension fund to acquire up to 8 percent of the logistics firm Delhivery . The Competition Commission of India announced the decision in a tweet on August 20. The deal, reportedly worth about $150 million , gives the e-commerce fulfillment company …

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Trucking leaders and customs brokers wonder what’s next with the USMCA?

The United States-Mexico-Canada Agreement (USMCA) was the hot topic at the most recent meeting of the Laredo Motor Carriers Association (LMCA). Trucking industry leaders, customs brokers, freight forwarders and trade professionals from both sides of the United States-Mexico border gathered August 15 in Laredo for a presentation entitled “Modernization of Cross-Border Trade.”  Speaking at the …

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Maple Leaf Motoring: Carriers could shut down if pulp mill closes

Maple Leaf Motoring is a weekly rundown of developments in the world of Canadian transportation. This week: pulp mill’s closure could string trucking, Saskatchewan highways get an  infusion, Transplace appoints head for Canada, and transport associations visit Central Bank. Trucking companies could go out of business if a pulp mill in Nova Scotia shuts down …

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Vancouver’s record mid-year report can’t hide trade turbulence

The Port of Vancouver handled a record amount of cargo in volumes and containers during the first half of 2019 as Canada’s largest maritime trade hub showed resilience but not immunity to economic headwinds. Cargo volumes increased by 0.5 percent to 72.5 million metric tons compared to the first half of 2018. The number of …

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