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The day’s most important moves across every mode — air, rail, road, ocean and the trade that ties them together.
| ● On the Wire |
Friday, October 23 |
5 stories |
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The Northwest Seaport Alliance connects Pacific Northwest shippers to Asia with some of the shortest transit times on the West Coast, backed by deep-water berths and on-dock rail at both Seattle and Tacoma.
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Parcel
BY ERIC KULISCH · AMERICAN SHIPPER · OCTOBER 22, 2026
UPS converted four more conventional sortation centers in Denver, St. Paul, Syracuse and Portland to automated operations as it heads into peak season with 100,000 seasonal hires and a growing RFID rollout.
| THE TAKE — With 68.5% of U.S. volume now flowing through automated facilities and cost per piece about 28% lower than in conventional sites, the network overhaul is delivering the efficiency UPS promised as it targets roughly $3 billion in annual savings by 2028. The human cost is real, with 30,000 positions eliminated alongside the closure of 200 manual sort facilities over five years. Peak will be the first big test of whether automation and RFID tracking can absorb surging volume without service slips. |
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Fulfillment
Supply chain software company Cleo estimates missed on-time, in-full deliveries cost U.S. and Canadian food and CPG makers about $100 billion a year, most of it in indirect losses like shelf space.
| THE TAKE — Only $10 billion to $11 billion of the total is direct cost such as chargebacks and expedited freight; the other $85 billion to $90 billion is lost shelf space and smaller retailer orders, which is where the real damage sits. Retailers like Walmart demand 98% OTIF while many manufacturers run 85% to 91%, a gap that explains the fines. The figure is a model from a company that sells chargeback-prevention software, so treat the headline number as directional. |
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Rail
Union Pacific’s third-quarter profit rose 16% to $2.08 billion, with intermodal volume up 11% and adjusted earnings of $3.53 per share topping the $3.47 consensus.
| THE TAKE — Intermodal revenue climbing 27% to $1.52 billion on an 11% volume gain shows where the growth is coming from, and 6% carload growth gives the railroad volume momentum heading into 2027. Higher fuel prices added 140 basis points to the operating ratio, which masks otherwise steady cost performance. CEO Jim Vena also pointed to upcoming steps in the Surface Transportation Board’s review of the proposed Norfolk Southern merger. |
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Rail
Norfolk Southern posted record third-quarter revenue of $3.52 billion, up 14%, with operating income up 5% to $1.15 billion and earnings per share up 7% to $3.37.
| THE TAKE — Fuel surcharges drove 8 of the 14 points of revenue growth, so underlying growth is more modest than the headline suggests, and the 67.4% operating ratio worsened on higher fuel costs. Service metrics are the bigger flag: intermodal service composite fell to 84% from 92% a year ago even as the accident rate hit a record low. Volume growth of 3% across merchandise, intermodal and coal is steady but not spectacular. |
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Rail
CSX reported record third-quarter revenue of $4.02 billion, up 12%, with operating income up 44% to $1.57 billion and a 60.9% operating ratio, an 8.8-point improvement.
| THE TAKE — A big share of the jump comes from comparing against a one-time goodwill impairment a year ago; excluding it, operating income rose 25% and EPS 30%, still strong. CSX raised its revenue growth outlook to high single digits, but trip-plan compliance fell 10 points in both intermodal and carload and terminal dwell rose 12%. CEO Steve Angel acknowledged the network can perform better. |
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This week on American Shipper TV: how UPS automation is preparing for peak season, and what third-quarter earnings from the major railroads say about freight demand. Watch the full segment →
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OCT 27–28, 2026 · THE SIGNAL, CHATTANOOGA, TN
FreightWaves’ flagship event blends rapid-fire tech demos and world-class speakers with the most legendary networking in logistics. Join 1,000+ freight and logistics experts, industry leaders, entrepreneurs and innovators for a definitive look at the year ahead. Come for the insights, stay for the celebration and leave with the connections that will define your 2027.
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American Shipper · The Daily — published weekdays
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