A study shows state coronavirus restrictions have idled at least one-fourth of the U.S. economy. (WSJ)
The U.S. unemployment rate rose to 4.4%, in the largest one-month increase since January 1975. (WSJ)
U.S. services sector activity fell at the steepest rate on record. (WSJ)
International airlines are planning for major retrenchments that they expect to last for several months. (WSJ)
United Airlines is cutting nearly 90% of its New York-area flying. (WSJ)
Prices for a key ingredient in hand sanitizers and medical disinfectants have tripled since March 10. (WSJ)
Oil investors say the world could run out of storage for its excess crude in a few months. (WSJ)
H.I.G Capital led a $65 million convertible-debt investment in Brazilian freight forwarder Modern Logistics. (WSJ)
Mexican brewers are halting production and domestic distribution under a suspension of nonessential economic activity. (WSJ)
Federal purchasing contracts show agencies largely waited until mid-March to place bulk orders of medical equipment needed by front-line health care workers. (Associated Press)
The pandemic has upended food supply chains, triggering a spike in the number of people who can't afford groceries and a glut of food where it's not needed. (NPR)
Federal regulators told states they may allow food trucks at rest areas to help feed truckers during the coronavirus crisis. (Heavy Duty Trucking)
Some freight forwarders say airlines are “profiteering” with higher shipping charges for medical supplies. (The Loadstar)
Grocery-delivery company Instacart is sharing inventory data with consumer-goods companies on products that are in short supply in regions. (AdWeek)
FedEx cut CEO Fred Smith’s pay by more than 90% through Sept. 1 and drew $1.5 billion from a line of credit. (Memphis Commercial Appeal)
Truck engine maker Cummins is cutting worker salaries by 10% to 25% as it reduces output. (MarketWatch)
Airbus is studying a sharp cut in output of its top-selling A320 narrow-body jet. (Reuters)
Singapore’s Keppel shipyard sent home 100 workers after two staffers tested positive for coronavirus. (ShippingWatch)
Oil companies are turning to rail cars to store crude among a growing glut. (Bloomberg)
Pittsburgh-based Locomation is testing self-driving trucks on highways under an agreement with Wilson Logistics. (Pittsburgh Post-Gazette)
Roadrunner Transportation Systems extended its asset-shedding strategy with the sale of Storage Cartage and Distribution to J.H. Rose Logistics. (Transport Dive)
Friday’s Logistics Report newsletter misidentified the U.S. port pulling back some weekend gate operations. It is the Port of Savannah in Georgia.
|