Logistics

Magellan and Enterprise to Develop Joint Houston Crude Oil Futures Contract

Thursday, January 21, 2021 - 9:46pm

The quality specifications will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with delivery capabilities at either Magellans East Houston terminal or Enterprises ECHO terminal in Houston.

Key Points: 
  • The quality specifications will be consistent with a West Texas Intermediate (WTI) crude oil originating from the Permian Basin with delivery capabilities at either Magellans East Houston terminal or Enterprises ECHO terminal in Houston.
  • View the full release here: https://www.businesswire.com/news/home/20210121005953/en/
    The industry-recognized quality and consistency of Midland WTI crude oil at Magellans East Houston terminal, combined with flexible and reliable market access offered by both Magellan and Enterprise, make this joint effort a logical advancement for crude oil futures to provide added value for our customers, both domestically and globally, said Michael Mears, Magellans chief executive officer.
  • We are pleased to join with Magellan on this initiative, which will provide customers with enhanced flexibility, connectivity, market access and price transparency for their physical barrels of crude oil, said A.J.
  • Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil.

U.S. Xpress Invests in Autonomous Trucking Technology

Thursday, January 21, 2021 - 8:48pm

U.S. Xpress Enterprises, Inc. (NYSE: USX) has announced an investment in TuSimple , a self-driving technology company bringing to market an autonomous solution for long-haul freight transportation.

Key Points: 
  • U.S. Xpress Enterprises, Inc. (NYSE: USX) has announced an investment in TuSimple , a self-driving technology company bringing to market an autonomous solution for long-haul freight transportation.
  • In addition to a significant financial investment, U.S. Xpress is actively testing the technology on select shipping lanes and President & CEO, Eric Fuller has joined TuSimples Executive Advisory Board.
  • U.S. Xpress has been working with TuSimple since 2019 and has recently begun testing the autonomous technology on select lanes for some of its major customers.
  • Autonomous trucks will give U.S. Xpress additional options for its shippers and fold into a robust portfolio of solutions.

Phillips 66 Receives $3 Million Grant to Advance Reversible Solid Oxide Fuel Cell Technology

Thursday, January 21, 2021 - 7:00pm

Phillips 66 (NYSE: PSX) today announced it has received a $3 million grant from the U.S. Department of Energy to advance the development of high-performance reversible solid oxide fuel cells.

Key Points: 
  • Phillips 66 (NYSE: PSX) today announced it has received a $3 million grant from the U.S. Department of Energy to advance the development of high-performance reversible solid oxide fuel cells.
  • Phillips 66 will collaborate with the Georgia Institute of Technology (Georgia Tech) to demonstrate the commercial feasibility of a low-cost and highly efficient reversible solid oxide fuel cell (RSOFC) system for hydrogen and electricity generation.
  • Our scientists and engineers are at the forefront of solid oxide fuel cell technology, said Ann Oglesby, VP, Energy Research & Innovation at Phillips 66.
  • Reversible SOFCs allow for the fuel cells to operate in either power generation mode, as a solid oxide fuel cell, or reverse mode, as a solid oxide electrolysis cell.

FLYJETS Launches Version 2.0 Application with New Route-Sharing Program, Adds Helicopter Services to Aircraft Offerings

Thursday, January 21, 2021 - 5:30pm

FLYJETS is the product of FLY I Corporation (d/b/a FLYJETS), a New York State Benefit Corporation with the goal of facilitating access to air travel.

Key Points: 
  • FLYJETS is the product of FLY I Corporation (d/b/a FLYJETS), a New York State Benefit Corporation with the goal of facilitating access to air travel.
  • FLYJETS is the first business-to-consumer and business-to-business application that utilizes proprietary aircraft data, dynamic location sourcing, distance and time to automate non-scheduled flights anywhere in the world.
  • The FLYJETS team provides both real-time booking support and, as an IATA-registered travel agency, full travel-planning services, including hotels and cars.
  • The Foundation also intends to provide aid and assistance in situations and locations suffering from distressed conditions and/or requiring emergency services.

J.B. Hunt Transport Services, Inc. Announces Payment of Dividend

Thursday, January 21, 2021 - 5:11pm

J.B. Hunt Transport Services, Inc., a Fortune 500 and S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America.

Key Points: 
  • J.B. Hunt Transport Services, Inc., a Fortune 500 and S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America.
  • J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, final mile, and more.
  • J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average.
  • J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT.

Brink’s Declares Quarterly Dividend

Thursday, January 21, 2021 - 3:28pm

RICHMOND, Va., Jan. 21, 2021 (GLOBE NEWSWIRE) -- The board of directors of The Brinks Company (NYSE:BCO) today declared a regular quarterly dividend of 15 cents per share on the companys common stock.

Key Points: 
  • RICHMOND, Va., Jan. 21, 2021 (GLOBE NEWSWIRE) -- The board of directors of The Brinks Company (NYSE:BCO) today declared a regular quarterly dividend of 15 cents per share on the companys common stock.
  • The dividend is payable on March 1, 2021, to shareholders of record on February 8, 2021.
  • The Brinks Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables.
  • Our global network of operations in 52 countries serves customers in more than 100 countries.

GlobalTranz Recognizes 2020 Agent, Carrier and Solutions Provider Award Winners at Annual Agent Conference

Thursday, January 21, 2021 - 2:00pm

, a leading technology-enabled third-party logistics solutions provider offering award-winning technology, people-powered customer service, and extensive multimodal carrier relationships, presented awards to its agent, carrier and solutions providers at the companys 2021 GlobalTranz Agent Conference on Tuesday, January 19.

Key Points: 
  • , a leading technology-enabled third-party logistics solutions provider offering award-winning technology, people-powered customer service, and extensive multimodal carrier relationships, presented awards to its agent, carrier and solutions providers at the companys 2021 GlobalTranz Agent Conference on Tuesday, January 19.
  • The 2021 GlobalTranz Agent Conference brought together the GlobalTranz agent community to collaborate, network, and learn about GlobalTranzs latest technology innovations, mode and service offerings, and more.
  • The awards recognize the success of agents, carriers, and solutions providers in the GlobalTranz network, particularly during a year that presented immense challenges.
  • For more information on GlobalTranz, visit globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

Geoverse and ClearBlade Partner to Deliver Turnkey Networked Solutions for Enterprises and Communities

Thursday, January 21, 2021 - 1:55pm

These capabilities become even more impactful when integrated with a secure, high-performance network and through the interconnectivity capabilities of the Geoverse ecosystem.

Key Points: 
  • These capabilities become even more impactful when integrated with a secure, high-performance network and through the interconnectivity capabilities of the Geoverse ecosystem.
  • Geoverse offers in-building private cellular solutions for the enterprise using innovations like Citizens Broadband Radio Service (CBRS).
  • Geoverse partners with market leaders like ClearBlade to offer compelling solutions that solve problems and bring new opportunities to our customers, said Rod Nelson, Geoverse CEO.
  • Together with Geoverse we can deliver production-ready solutions that scale, said Aaron Allsbrook, CTO of ClearBlade.

Mapbox launches 3D Maps with 135 million sq km of global, high-resolution imagery from Maxar

Thursday, January 21, 2021 - 1:00pm

Maxar builds excellent satellites, which are producing the highest quality imagery available today, said Eric Gundersen, Mapbox CEO.

Key Points: 
  • Maxar builds excellent satellites, which are producing the highest quality imagery available today, said Eric Gundersen, Mapbox CEO.
  • By incorporating the high-resolution satellite imagery, we are able to offer 3D maps that are far more advanced and detailed than anything else.
  • This imagery, combined with the recent launch of Mapbox 3D, is the canvas for creating totally custom maps for the web and mobile.
  • The combination of Maxars image quality, volume, and recency together with the launch of Mapbox 3D transforms the interactive map experience.

Newegg Logistics Earns a Spot on the Multichannel Merchant Top 3PL for 2021

Thursday, January 21, 2021 - 1:00pm

Newegg , one of the leading tech-focused e-retailers in North America, today announced that Newegg Logistics has been named an MCM Top 3PL for 2021, joining dozens of other leading third-party logistics providers selected by Multichannel Merchant in its sixth annual directory.

Key Points: 
  • Newegg , one of the leading tech-focused e-retailers in North America, today announced that Newegg Logistics has been named an MCM Top 3PL for 2021, joining dozens of other leading third-party logistics providers selected by Multichannel Merchant in its sixth annual directory.
  • This unique resource from Multichannel Merchant, a searchable directory that can be sorted by various criteria, helps ecommerce and DTC companies vet qualified, experienced 3PLs.
  • Like Newegg on Facebook , subscribe to Newegg on YouTube and follow Newegg on Twitter to stay up to date on the companys latest news.
  • Newegg is consistently ranked as one of the best online shopping destinations, and the company regularly earns industry-leading customer service ratings.