Logistics Update: Electric Truck Costs, Ontario Funding Boost, Mullen Acquires ContainerWorld

by | May 10, 2024 | Business Development

Richard Freedhoff

Richard Freedhoff

Director, Business Development

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Ryder System highlights high costs and infrastructure challenges hindering electric truck adoption. Ontario boosts its critical minerals sector with a $15 million investment. Mullen Group acquires ContainerWorld Forwarding Services. FedEx Express anticipates U.S. delivery delays from severe weather in Memphis and Portage. Amazon enhances its logistics capabilities, providing 10 Boeing 767-300 freighters to ATSG under a five-year agreement.

High Costs Deter Adoption of Electric Trucks

Ryder System has found that the high operational costs and significant infrastructure requirements for battery-electric trucks, particularly in heavy-duty applications, are deterring customers from transitioning from diesel. Despite the potential for long-term savings on maintenance and fuel, the initial financial and logistical barriers are limiting the adoption of electric trucks in the current economic environment.

Source: The Wall Street Journal

Ontario Boosts Funding for Critical Minerals Supply Chain

The Ontario government is boosting its critical minerals sector with an additional $15 million over three years to expand the Critical Minerals Innovation Fund (CMIF). This investment aims to enhance public-private and Indigenous partnerships, stimulate economic growth, and support Ontario’s strategic integration of northern mineral resources with southern manufacturing capabilities. Applications for the CMIF are open from May 22 to July 17, 2024.

Source: Inside Logistics

Mullen Group Acquires B.C.-Based ContainerWorld

Mullen Group Ltd. has finalized its acquisition of ContainerWorld Forwarding Services Inc. and its subsidiaries as of May 1. ContainerWorld, a Richmond, B.C.-based logistics firm founded in 1993, offers supply chain solutions for the alcoholic beverage and hospitality industries. Now an independent subsidiary within Mullen Group, ContainerWorld expands Mullen’s extensive logistics services and enhances its market reach in Canada.

Source: Inside Logistics

FedEx Express Warns of US Delivery Delays from Severe Weather

FedEx Express has alerted potential U.S. delivery delays due to severe weather affecting its Memphis hub and tornado damage in Portage, Michigan. Contingency plans are in place to manage disruptions, but shipments delayed by weather will not be eligible for refunds under FedEx’s money-back guarantee policy.

Source: Supply Chain Dive

Amazon Boosts Air Fleet, Adds 10 Boeing 767s with ATSG

Amazon has provided 10 Boeing 767-300 freighters to Air Transport Services Group (ATSG) to operate under an expanded five-year agreement. This deal, starting this summer, not only extends their existing contract by three years but also allows Amazon additional rights to acquire ATSG shares. Now, ATSG will operate 50 freighters for Amazon, supporting its growing U.S. parcel delivery role. This strategic move enhances Amazon’s logistics despite softer e-commerce demand, with ATSG compensated for operational services including crew, maintenance, and insurance.

Source: Freight Waves

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NLS Logistics Team
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