The Port of Virginia handled almost 315,000 20-foot-equivalent units in May, a 56% jump from the same month last year and a new record, which officials attribute to increasing imports and larger vessels. "The strong volumes are continuing into June and from there we will see peak season begin, so we are not expecting a significant slowdown in the near term," Virginia Port Authority CEO Stephen Edwards said.
On its current growth curve, Amazon is poised to outpace top US retailer Walmart based on gross merchandise volume by next year, according to new research from JPMorgan. Amazon grew its e-commerce market share from 24% in 2014 to an estimated 39% last year, with 2020's sales fueled by a pandemic-related surge in online shopping, the report found.
The rush to develop flying cars has been likened to "the Wild West of aviation," with companies showcasing solutions from the single-seater BlackFly to the larger Heaviside plane. However, as Stanford professor Ilan Kroo notes, "There is a lot to be done before regulators accept these vehicles as safe -- and before people accept them as safe."
Electric vehicles can only be as green as the grids that recharge them, but a growing number of utilities are shifting from fossil fuels to wind and solar. "It's not just about getting electric vehicles on the road, it's also about transforming the entire energy ecosystem," notes San Diego Gas and Electric CEO Caroline Winn.
Frontline medical staff continue to have free access to expressways in the Philippines, which was first instituted in March 2020 due to the COVID-19 pandemic. As of June 2, San Miguel Corporation has waived about $4.8 million in tolls for medical workers.
The Delaware State Senate has advanced a bill that would allow drivers the opportunity to pay off outstanding toll debts at reduced rates, with consideration to follow in the Delaware House. Drivers in the state currently have $143.4 million in unpaid tolls and fees.
The town of Fort Frances, Ontario, is considering the potential sale of the International Bridge and whether the government should buy the 50% stake of the bridge being that may be sold by Resolute Forest Products. The bridge is one of two privately owned toll bridges spanning between Canada and the US.
FedEx Freight will stop picking up shipments from some less-than-truckload customers to help keep goods flowing at terminals already inundated with freight. The move, which was issued on short notice, affects roughly 1,400 customers.