16 DC VELOCITY SEPTEMBER 2019 www.dcvelocity.com newsworthy

newsmakers

Systems integrator Pulse Integration
has welcomed Joseph Kish as senior
accountant, Michael Dillon as proj-
ect manager, and Ross Halket as
vice president of sales and busi-
ness development. … The airline
trade group International Air
Transport Association (IATA) has
named Lufthansa Group CEO
Carsten Spohr chairman of the IATA
board of governors for a one-year
term. … Vnomics
Corp., a provider of
onboard fuel-optimi-
zation solutions, has
welcomed Robert
Peckham as director
of advanced solutions
development. … The
Arkansas Trucking Association has
selected Dan Cushman, president
and CEO of P.A.M. Transportation
Services, as its new chairman of
the board. Cushman will serve a
one-year renewable term. … The
Transportation Marketing & Sales
Association (TMSA) has honored
two of its members for their work
advancing the association’s mission.
The honorees are David Hoppens,
Member of the Year, and Mark
Derks, Associate Member of the
Year. … Technology-
based freight man-
agement compa-
ny Target Freight
Management Inc. has
hired Tim Carey as
executive vice presi-
dent of strategy. …

FourKites has selected Vivek Vaid as its new chief technology officer. In his new role, Vaid will oversee development of FourKites’ visibility and machine-learning platform to help supply chains respond more quickly to real-world events. … Freight marketplace Transfix has promoted its current chief operating officer, Lily Shen, to president.

CAREY

The U.S. Postal Service (USPS) is complaining that its “fixed and mandated costs” continue to rise at a faster rate than the revenues generated by its business model, a situation it cites as a major factor in its continuing losses. The organization rang up a net loss of nearly $2.3 billion for its third quarter, $767 million higher than the net loss of nearly $1.5 billion incurred for the same quarter last year, USPS said. The results continue a trend of red ink in 2019, following a $2.1 billion net loss for the second quarter and a $1.5 billion loss for the first quarter of this year.

For the third quarter, USPS reported total operating expenses of $19.3 billion, an increase of $797 million, or 4. 3 percent, compared to the same quarter last year. Meanwhile, revenue for the third quarter was just $17.1 billion. First Class Mail revenue declined by $98 million, or 1. 6 percent, compared to the same quarter last year; Marketing Mail revenue declined by $121 million ( 3.0 percent); and Periodicals revenue declined by $38 million ( 11. 2 percent). The only bright spot on the ledger was an increase of $250 million ( 4. 8 percent) in USPS Shipping and Packages revenue, driven by booming e-commerce sales.

The postal service’s top executive called for government action and vowed to continue its own efforts to achieve stability. “We continue to face imbalances in our business model that must be fixed through legislative and regulatory change,” Postmaster General and Chief Executive Officer Megan J. Brennan said in a press release. “As we work to effectuate that change, we continue our ongoing aggressive management actions, and remain focused on delivering for the American public, and meeting their evolving business and residential needs.”

Postal Service delivers $2.3 billion loss
for third quarter

Internet of Things (IoT) networking is quickly gaining ground in maritime transportation. One of the most promising examples of that technology, the “smart” container, has the potential to radically boost the utility and value of shipping equipment by allowing businesses to track their cargo on the high seas, a new report says. A container becomes “smart” when fitted with a telematics device that provides real-time tracking and monitoring of the container and its contents.

Smart containers have increased in prominence in a very short time, and the pace of adoption is expected to accelerate, according to Drewry Shipping Consultants Ltd.’s “Container Census & Leasing Annual Report 2019/20.” The U.K.-based shipping consultancy estimates that at the end of 2018, just 2. 5 percent of the global ocean container fleet was fitted with smart technology devices. However, the number of smart containers is on track to triple by 2023, to over 2 million units, representing around 6. 5 percent of worldwide box inventories, the report says.

Smart containers offer benefits for both shippers and carriers. The devices enable vessel operators to achieve faster turn times and improve utilization rates for their containers, Drewry said. The devices also allow beneficial cargo owners (BCOs) to understand the location and status of their cargo, and thus better control their supply chains.