Parcel

Engineered equipment leader Duravant, whose operating companies includes FMH Conveyors, expands material handling equipment portfolio with acquisition of NPI.

This expansion follows the company’s 2022 rollout of a new transcontinental delivery service, which they said is focused on helping retailers reach consumers in the nation’s most populated regions with faster and more reliable home delivery at a cheaper cost, while connecting the companies East and West Coast delivery footprints to move packages from coast to coast in three days (in some cases).

Fiscal year 2023 second quarter earnings results, for the United States Postal Service (USPS), which were issued earlier this week, saw a 0.9% decrease, or $168 million, in operating revenue, to $18.6 billion, while total volume was off 11.4% annually.

The slowdown in China’s economy, as well as U.S. e-commerce returning from its stratospheric heights in 2022 likely played a role in global parcel volumes slowing in 2022. According to data from global shipping and mailing company Pitney Bowes, global parcel volume reached 161 billion in 2022, a 1% increase from 2021.

On July 25, UPS, made a tentative agreement with the International Brotherhood of Teamsters. Yesterday, the Teamsters reported that 161 out of 162 Teamsters local unions voted to endorse the tentative agreement and urge its full acceptance by all 340,000 full- and part-time UPS Teamsters members.

Following a tentative agreement made between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters on July 25, the Teamsters said yesterday that Teamsters local unions voted by a nearly unanimous 161-1 vote in favor of endorsing the tentative agreement and recommend its passage by full membership, for the 340,000 full- and part-time UPS Teamsters members.

With only a few days remaining until the July 31 deadline, the contentious and on-again, off-again labor negotiations between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters reached an amicable outcome, in the form of a new five-year tentative agreement.

As freight transportation, logistics, and supply chain stakeholders (likely) breathed a collective sigh of relief yesterday, following the new five-year tentative agreement reached yesterday between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters, there has been no shortage of opinions and views on how this agreement, assuming it is ratified by UPS Teamsters members next month, will impact shippers, especially as it relates to pricing.

With only a few days remaining until the July 31 deadline, the contentious and on-again, off-again labor negotiations between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters reached an amicable outcome today, in the form of a new five-year tentative agreement.

The on-again, off-again tone of the ongoing, and fairly contentious, labor negotiation talks between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters (IBT) took a positive step. That step was UPS saying that it will return to the negotiating table next week.

Taking steps to ensure business operations remain intact, should its Teamsters members go on strike, when the current labor agreement expires, at the end of July, Atlanta-based global freight transportation and logistics services provider said late last week that it making preparations, in the event of a strike.

The stalemate, of sorts, in the labor negotiations between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters (IBT) on a new contract continues to remain intact, with time ticking away until the current contract expires on July 31.

There are signs of compromise between United Parcel Service (UPS) and the Teamsters union to avoid the first labor stoppage at the small parcel giant in nearly three decades.

The ongoing contentious negotiations between Atlanta-based global freight transportation and logistics services provider UPS and the International Brotherhood of Teamsters (IBT) hit another snag this week, with the Teamsters making it clear that UPS Teamsters employees prepared to go off the clock on July 31 if a new contract is not in place, coupled with the Teamsters saying today they want UPS to exchange “its last, best, and final offer no later than June 30.”

Quarterly revenue—at $21.9 billion—was down 10.3% annually, and adjusted operating income—at $1.8 billion—fell 21%. Adjusted earnings per share came in at $4.94, down 28% annually and topping Wall Street expectations, at $4.85.