EPISODE · Jul 24, 2025 · 2 MIN
Morning Minute | July 24, 2025
from FreightCasts · host FreightWaves
Trucking and logistics company Forward Air is on the verge of a potential acquisition, with several private equity firms, including Clearlake Capital and Apollo Global Management, submitting bids, causing its shares to surge 10%. This interest follows intense pressure from activist investors after the company's heavily contested merger with Omni Logistics, which shareholders criticized for its structure and the large debt burden it placed on Forward. In maritime news, a historic order has been placed for a new liquefied natural gas (LNG) vessel to be built at a Philadelphia shipyard, marking the first of its kind in the U.S. in nearly 50 years. This joint-build project by Hanwha Ocean and Hanwha Philly Shipyard aims to comply with new rules proposed by the United States Trade Representative, which are designed to counter China’s dominance in shipping and shipbuilding by requiring a percentage of U.S. LNG exports to be transported on U.S.-flagged and crewed vessels. On the railroad front, CSX reported a decline in its second-quarter profits, with operating income falling 11% and revenue decreasing 3%. Despite these financial setbacks, executives expressed encouragement regarding the railroad's operational recovery during the quarter, highlighting improvements in on-time performance. CSX anticipates overall volume growth for the year, driven by numerous industrial development projects becoming operational and the ongoing conversion of freight from highway to intermodal transport. Learn more about your ad choices. Visit megaphone.fm/adchoices
What this episode covers
Trucking and logistics company Forward Air is on the verge of a potential acquisition, with several private equity firms, including Clearlake Capital and Apollo Global Management, submitting bids, causing its shares to surge 10%. This interest follows intense pressure from activist investors after the company's heavily contested merger with Omni Logistics, which shareholders criticized for its structure and the large debt burden it placed on Forward. In maritime news, a historic order has been placed for a new liquefied natural gas (LNG) vessel to be built at a Philadelphia shipyard, marking the first of its kind in the U.S. in nearly 50 years. This joint-build project by Hanwha Ocean and Hanwha Philly Shipyard aims to comply with new rules proposed by the United States Trade Representative, which are designed to counter China’s dominance in shipping and shipbuilding by requiring a percentage of U.S. LNG exports to be transported on U.S.-flagged and crewed vessels. On the railroad front, CSX reported a decline in its second-quarter profits, with operating income falling 11% and revenue decreasing 3%. Despite these financial setbacks, executives expressed encouragement regarding the railroad's operational recovery during the quarter, highlighting improvements in on-time performance. CSX anticipates overall volume growth for the year, driven by numerous industrial development projects becoming operational and the ongoing conversion of freight from highway to intermodal transport. Learn more about your ad choices. Visit megaphone.fm/adchoices
NOW PLAYING
Morning Minute | July 24, 2025
No transcript for this episode yet
Similar Episodes
No similar episodes found.
Similar Podcasts
No similar podcasts found.