Multimodal Transportation Services News

The Biden-Harris Administration on Friday announced new funding aimed at improving ferry service across the U.S. The U.S. Department of Transportation’s Federal Highway Administration announced $172.2 million in Fiscal Year 2022 formula funding under the Bipartisan Infrastructure Law improve ferry service and provide more travel options in 35 states and three territories.“Many Americans rely on ferry service as a primary means of travel, making it a critical connection to jobs, healthcare and other daily needs,” said U.S. Transportation Secretary Pete Buttigieg.

C.H. Robinson Worldwide to acquire Phoenix International for $571.5 million in cash & about $63.5 million in newly-issued C.H. Robinson stock. Founded in 1905, C.H. Robinson Worldwide, Inc., is a global provider of multimodal transportation services and logistics solutions, serving over 37,000 customers through a network of 234 offices in North America, Europe, Asia, South America, and Australia. Phoenix,  headquartered in Chicago, Illinois, is a privately-held international freight forwarder. In its most recently completed fiscal year, as of June 30, 2012, Phoenix generated gross revenues of approximately $807 million, net revenues of approximately $161 million and adjusted operating income of approximately $48 million.

In recognition of the company's continued strong growth, a changing mix of business, and the introduction of new services, Matson Intermodal System today announced that it is renaming its business entity to Matson Integrated Logistics. As a leading multimodal transportation provider, the company's capabilities include domestic intermodal rail service, long haul and regional highway services, international intermodal service, and specialized hauling. New air freight services will be introduced in the coming months. "Our new name, Matson Integrated Logistics, reflects the company's goal of providing an array of multimodal transportation services," said Robert Papworth, president, Matson Integrated Logistics.

Matson Integrated Logistics (MIL) announced that it has completed the asset purchase of TransAmerica Transportation Services, Inc. (TTS), a third party logistics company based in Akron, Ohio. The new MIL business unit will operate initially under the name TransAmerica Transportation Services LLC and will ultimately be renamed Matson Integrated Logistics. The unit will retain virtually all of TTS's current management team. Specializing in truck brokerage services throughout North America, TTS currently moves over 50,000 shipments annually, generating revenues of approximately $45 million during the latest twelve month period. The company offers various brokerage services, including truckload, less-than-truckload, expedited services, and intermodal.