Transportation

Canadian Pacific Kansas City set new September and third-quarter records for grain transportation, moving 2.94 million metric tons in Canada and 2.51 million metric tons in the United States during September. Both countries set new third-quarter records, surpassing the previous records set in 2020. Through Week 8 of the 2026-2027 crop year, CP has moved more than 4.99 million metric tons and 51,268 carloads of Canadian grain. CP's shares have gained 16.8% year to date, compared with 20.3% growth for the Transportation - Rail industry, and the stock carries a Zacks Rank #3 (Hold).

Hapag-Lloyd lifted its earnings outlook for 2026 after reporting stronger market demand and firmer spot freight rates. The upgraded guidance follows a 90-day share price return of 21.62% and a 1-year total shareholder return of 25.22%, though the 3-year total shareholder return declined 8.55%. Against a last close of €141.20, the most followed analyst narrative puts Hapag-Lloyd's fair value at €106.30, framing the shares as 33% overvalued. Management said volume growth is likely to moderate in the second half and beyond, with the company expecting only moderate increases above a roughly 3% industry trend, and flagged persistent downward pressure on freight rates and normalization of spot rates. The company's push into more efficient, lower emission vessels could still support higher volumes and margins than consensus expects.

C.H. Robinson Worldwide announced on Monday that it struck a stock-and-cash deal to acquire RXO Inc. for an implied value of $5.8B, creating a combined company with an enterprise value of over $25B. Under the merger agreement, RXO stockholders may elect to receive either $17.25 in cash and 0.0856 shares of C.H. Robinson common stock, an all-cash consideration of $30.25 per share, or an all-stock consideration of 0.1992 shares of C.H. Robinson common stock, and are expected to own 11% of the combined company upon close. C.H. Robinson expects to realize approximately $300M of net run-rate cost synergies within two years post-close by applying its Lean AI operating model across RXO's business, and will integrate RXO primarily into its NAST division. CEO Dave Bozeman called the transaction a natural next step in the company's transformation toward a more scaled, resilient North American third-party logistics provider. Shares of RXO shot up 17.7% in premarket trading, while C.H. Robinson traded flat.

The Air Cargo Subcommittee, the Thai Chamber of Commerce and the Board of Trade of Thailand met Deputy Prime Minister and Minister of Transport Phiphat Ratchakitprakarn to discuss ways to improve the efficiency of air cargo management, after Thailand's air cargo volumes continued to grow and caused congestion at some stages of the shipping process. The Civil Aviation Authority of Thailand, or CAAT, the Office of Transport and Traffic Policy and Planning, and Airports of Thailand Public Company Limited, or AOT, joined the discussion on 5 October 2026. For urgent measures, the Board of Trade of Thailand proposed bringing in explosive detection dogs, or EDD, to support the cargo screening process in order to increase capacity to handle rising cargo volumes while maintaining aviation safety standards. For long-term measures, it proposed developing a security system for air cargo in line with international standards by promoting Known Consignor, or KC, and Regulated Agent, or RA, systems so that cargo inspection and security begin at the point of origin, helping reduce the burden and congestion at downstream stages. It also proposed setting up a joint working group among the relevant agencies to monitor and drive the various measures so they produce concrete practical results. CAAT and AOT explained that they are currently preparing to bring explosive detection dogs into use to support cargo screening, and that in the first phase they may seek support from AOT first, while discussing with relevant agencies how to increase the number of dogs to meet future demand. AOT, meanwhile, is developing an air cargo management system and will coordinate closely with the Thai Chamber of Commerce. The Minister of Transport has assigned the Permanent Secretary of the Ministry of Transport to chair the working group in order to monitor and drive joint operations continuously, aiming to fix the system's limitations in the urgent term alongside laying out a long-term system to support the growth of air cargo and concretely raise the efficiency of Thailand's air cargo transport system.

The Ministry of Transport reported progress in resolving the crisis at Suvarnabhumi Airport involving Thai Airways International Public Company Limited. As of about 8:00 this morning, Thai Airways inbound and outbound flights were operating according to plan at 100%, with 122 inbound flights and 123 outbound flights. Leftover outbound and transit baggage fell to 150 pieces, down from a peak backlog of 7,175 pieces. Inbound baggage continued its downward trend, with 712 pieces remaining, down from a peak of 5,423 pieces. Passengers have already collected 300 pieces, leaving 412 still to be handled. On staffing, 105.48% of the planned workforce reported for duty, or 1,348 people against a plan of 1,278. As for cargo services, there is no longer any cargo left in the warehouse, though demand remains for warehouse space to accommodate shippers arriving to collect goods that have already been sorted.

Thai Airways International Public Company Limited, or THAI, summarised its service situation as of 08:00 on 5 October 2026, saying overall operations have recovered to almost completely normal conditions, with only some remaining backlogged baggage still to be managed. Both inbound and outbound flights were able to operate according to plan at 100%, comprising 122 inbound flights and 123 outbound flights, for a total of 245 flights. On the baggage backlog, the outbound and connecting side fell to 150 items from a peak backlog of 7,175 items, while the inbound side was down to 712 items from a peak of 5,423 items. Passengers have come forward to collect 300 items, leaving 412 bags still requiring handling. On staffing, actual attendance came to 105.48% of plan, or 1,348 people against a planned 1,278. On cargo operations, there is currently no cargo left in the warehouse, but there is still demand for warehouse space to accommodate shippers arriving to collect goods that have already been broken down.

NIPPON EXPRESS HOLDINGS, INC. has launched "US 5-Day Cross," a delivery option that expands its "NX Ocean Fast Track" high-speed ocean freight service from Asia to North America. The new option enables delivery from the Port of Los Angeles to destinations across the United States within five days, while also providing advanced cargo visibility and security management. It builds on NX Ocean Fast Track, launched this past June, which guarantees container delivery from the Port of Los Angeles within 24 hours. The service combines priority transshipment at NX Group warehouses near the port with a two-driver team system for non-stop long-haul transport, and uses multifunctional security devices to track transport status and quality. The company said the expansion responds to market needs for dependable North American supply chains and business continuity planning amid Panama Canal navigation restrictions, longer ocean freight lead times from geopolitical risks, and delays in U.S. rail transport.

MPJ Logistics, or MPJ, expects container turnover volume in the third quarter of 2026 to rise about 30% compared with the same period last year, driven by growing demand for its services, particularly from the Laem Chabang 1 and Laem Chabang 2 projects and the OM Lat Krabang project. Meanwhile, the OM Laem Chabang project maintained container volumes close to last year's level. MPJ currently has more than 100 rai of service area covering the Laem Chabang area and ICD Lat Krabang, and plans to expand its container yard in the Laem Chabang zone by another 28 rai to accommodate growing volumes and increase its service capacity for shipping lines. Chief Executive Officer Jeerasak Manatrakul said the company meets with shipping lines every week to assess container volumes and prepare space in advance, and that its own fleet of tractor trucks helps manage transport scheduling and reduce reliance on external vehicles. For the third-quarter 2026 outlook, the company expects growth from the same period last year, with the container yard business as the main driver, while the land transport business benefits from adjustments to fuel surcharges and the international freight management business grows along with its customer base and cargo volumes. MPJ is maintaining its 2026 revenue target of an 18% increase to 1,264 million baht.

MPJ Logistics Public Company Limited, or MPJ, expects container throughput passing through its systems in the third quarter of 2026 to rise about 30% from the same period a year earlier, driven by demand for services at the Laem Chabang 1 and Laem Chabang 2 project sites and the OM Lat Krabang project, according to Chief Executive Officer Jeerasak Manatakul. MPJ currently operates more than 100 rai of container yard space in total, both at Laem Chabang Port and at the container X-ray inspection and release station, or ICD Lat Krabang, and plans to invest in expanding its container yard in the Laem Chabang zone by another 28 rai to handle volume from leading shipping lines. The company meets with shipping lines every week to plan space and resources in advance. It is maintaining its target of 18% growth in total revenue for 2026, or about 1.264 billion baht, with the container yard business as its main engine, while the land transport business is getting a boost from adjustments to fuel surcharge rates and the international freight forwarding business is growing on a larger base of new customers and rising volumes.

Jeerasak Manatrakul, Chief Executive Officer of MPJ Logistics Public Company Limited, or MPJ, disclosed that the company expects container turnover volume in the third quarter of 2026 to increase by approximately 30% compared with the same period last year, driven by the Laem Chabang 1 and Laem Chabang 2 projects and the OM Lat Krabang project, which have benefited from the expansion of service areas in the recent period. Meanwhile, the OM Laem Chabang project continues to maintain container volume at a level close to last year. Currently, MPJ has total service area of more than 100 rai, covering strategic locations around Laem Chabang and ICD Lat Krabang, and plans to expand its container yard in the Laem Chabang zone by an additional 28 rai to accommodate the increasing workload. For the operating results trend in the third quarter of 2026, the company expects growth from the same period last year, with the container yard business as the main driver, while the land transport business benefits from fuel surcharge adjustments and the freight forwarder business is likely to grow in line with customer base expansion. The company maintains its target of 18% revenue growth in 2026, reaching 1,264 million baht.

Jeerask Manatrakul, Chief Executive Officer of MPJ Logistics Public Company Limited, or MPJ, disclosed that the company expects container turnover volume in the third quarter of 2026 to increase by approximately 30% compared with the same period last year, driven by the expansion of its service areas, particularly the Laem Chabang 1 and Laem Chabang 2 projects and the OM Lat Krabang project, while the OM Laem Chabang project maintained container volume close to last year's level. Currently, MPJ has a total service area of more than 100 rai, covering the Laem Chabang area and ICD Lat Krabang, and plans to expand its container yard in the Laem Chabang zone by an additional 28 rai to accommodate growing workloads and enhance its service capacity for shipping lines. As for the operating performance trend in the third quarter of 2026, the company expects growth compared with the same period last year, with the container yard business as the main driver, while the land transport business benefits from adjustments to fuel surcharges and the international freight management business is likely to grow in line with the expansion of its customer base. MPJ also maintains its 2026 revenue target of an 18% increase, reaching 1.264 billion baht.

Asia Plus Securities rates THAI with a 2027 target price of 6.80 baht and maintains a Tactical Buy recommendation after the company resumed all flights from 3 October 2026, having cut 15 and 9 flights on 1-2 October respectively. The board resolved to investigate the facts surrounding the late-September 2026 flood incident and to review the crisis management process, suspending the CEO during the investigation and appointing board member Samrit Samniang as acting CEO from 2 October 2026. Although the impact of the flight cuts on the fourth quarter of 2026 remains limited compared with TG's total flights at Suvarnabhumi, which averaged about 120 departures per day in August, investors still need to monitor the investigation and long-term solutions to ground handling problems, including the adequacy of staffing, equipment and emergency response processes. Employee expenses in the first half of 2026 accounted for 12% of OPEX, and every 10% change in employee expenses would move profit by 7%. Normalised profit for 2027 is forecast to recover 25% from a low base, with jet fuel, at about 37% of OPEX, the key variable, on an assumption of 117 US dollars per barrel versus the IATA jet fuel average year-to-date through 25 September 2026 of 161 US dollars per barrel. The share price is down 18% year-to-date, the worst performer in the sector compared with the SET's 25% gain, and Brent holding below 85 US dollars per barrel is likely to be a positive sentiment for the stock.

The Thai Airways board has ordered the removal of Chai Eamsiri from the CEO position and appointed Samrit to take over, after the flood crisis damaged its reputation and operations. The board also opened the way for a full fact-finding investigation and immediately changed the authority to sign binding commitments on behalf of the company. Most recently, Thai Airways signed a contract with EEC to proceed with the U-Tapao aircraft maintenance centre, investing 10 billion baht on 210 rai of land, targeting construction in 2027 and the opening of the centre in 2030, with capacity to service 90 aircraft per year and generate revenue of 4,000 to 5,000 million baht. It also issued relief measures for passengers affected by the floods, including flight changes, full refunds, and compensation for delayed baggage. Among other stocks to watch, MRDIYT hinted at bright third-quarter 2026 results driven by branch expansion, while OR teamed up with CENTEL to develop budget hotels, starting with six pilot locations at prices from 800 to 1,300 baht per night, aiming to expand to 50 locations by 2031. AWC filed a filing with the SEC to establish the AWR trust, expecting net cash flow of more than 30,000 million baht, and WP completed its share buyback in full, 1.5 million shares, or 2.94%, worth 57.08 million baht.

Bangkok Airways, the airline operated by Bangkok Airways Public Company Limited, has launched its Lucky TEN campaign, giving passengers the chance to buy tickets at a special 90% discount, paying only 10% of the Web Promo fare in P–Q class, for a total of 200 entitlements across 5 domestic routes between 5 and 9 October 2026. The campaign celebrates the airline being named the World's Best Regional Airline and the Best Regional Airline in Asia at the SKYTRAX World Airline Awards for the 10th consecutive year, building on the Thank You for 10 Amazing Years campaign launched last September. The participating routes are Bangkok–Phuket on 5 October, Bangkok–Chiang Mai on 6 October, Bangkok–Sukhothai on 7 October, Bangkok–Trat on 8 October, and Bangkok–Samui on 9 October 2026. Each day offers four rounds of chances, at 10:10, 12:10, 14:10 and 16:10, with 10 entitlements per round, or 40 per day and 200 over the campaign's five days. The special fares exclude taxes, fees and other related charges, and terms and conditions apply.

MPJ Logistics Public Company Limited, or MPJ, expects container turnover volume in the third quarter of 2026 to rise about 30% from the same period last year, driven by growing demand for its services, particularly the Laem Chabang 1 and Laem Chabang 2 projects and the OM Lat Krabang project, while the OM Laem Chabang project is maintaining container volume close to last year's level. Chief Executive Officer Jeerasak Manatrakul said the company currently has more than 100 rai of service area covering the Laem Chabang area and ICD Lat Krabang, along with its own fleet of tractor heads, and plans to expand its container yard in the Laem Chabang zone by another 28 rai to accommodate growing volumes. For the third-quarter 2026 outlook, the company expects growth from the same period last year, with the container yard business as the main driver, while the land transport business benefits from fuel surcharge adjustments and the international freight management business grows with its customer base and volume. MPJ is maintaining its 2026 revenue target of an 18% increase to 1,264 million baht.

Grab Holdings Limited reported record second-quarter results, with revenue rising 22% year-over-year to $997 million and On-Demand gross merchandise volume up 21% to $6.5 billion. Monthly transacting users increased 17% to 53.9 million, adjusted EBITDA climbed 54% to $168 million with margin expanding to 16.9% from 13.3%, and operating profit rose to $19 million from $7 million. Management raised its full-year 2026 guidance to revenue of $4.1 billion to $4.15 billion and adjusted EBITDA of $720 million to $740 million, and authorized another $750 million share repurchase program, bringing cumulative repurchase authorization since 2024 to $1.75 billion. Financial Services revenue grew 59% to $134 million while its gross loan portfolio reached $2.3 billion, up 197%, though the segment posted negative adjusted EBITDA of $15 million, and total incentives reached $706 million in the quarter. On September 15, the company agreed to acquire a 60% controlling stake in Atome Financial for $1.49 billion in cash, with the deal expected to close by the third quarter of 2027, and it raised its 2028 targets to $1.7 billion in adjusted EBITDA and more than 30% annual revenue growth from 2025 to 2028.

American Airlines said eligible AAdvantage members will be able to combine cash and miles when buying tickets through its website and mobile app, a feature rolling out in the coming weeks. Members will first select flights priced in cash, then at checkout American will display combinations of cash and AAdvantage miles that can be adjusted with a slider, with the total price updating based on the mix selected. The change gives customers another way to use mileage balances without accumulating enough points to cover an entire award ticket, and American characterized it as part of a broader effort to give AAdvantage members more flexibility in how they use the program. The move comes as competition for lucrative frequent flyers intensifies: United Airlines recently launched a status-match campaign aimed directly at elite members of American and Delta Air Lines, offering qualifying American and Delta customers comparable MileagePlus status for 90 days, extendable through Jan. 31, 2028 by meeting flight and spending requirements ranging from $1,500 in eligible United spending for entry-level Premier Silver status to $7,000 for Premier 1K. American has its own status-match offers for qualifying customers of United, Delta, Southwest Airlines and JetBlue Airways. American has also been expanding AAdvantage benefits, with members reaching 15,000 Loyalty Points able to choose two eligible inflight food and beverage coupons, rewards at various levels now including subscriptions to The New York Times, Games, Cooking and The Athletic, and additional gift choices planned for customers reaching Million Miler milestones.

Analysts raised their earnings forecasts for Star Bulk Carriers in late September 2026, projecting earnings per share of US$1.33 and nearly 50% revenue growth versus the prior-year quarter while reiterating a Zacks Rank #1 rating and pointing to the company's valuation discount to peers. The upgrade sharpened attention on how Star Bulk's fundamentals compare with other US shipping names. The higher outlook follows an August 2026 dividend increase to US$0.90 per share, which together with stronger current earnings highlights the importance of the company's capital allocation choices at a time when analysts still expect longer term revenue to decline. Star Bulk Carriers' narrative projects $1.0 billion revenue and $467.0 million earnings by 2029, requiring a 5.6% yearly revenue decline and a $179.8 million earnings increase from $287.2 million today, and yields a $34.04 fair value, an 11% upside to its current price. At the optimistic end, some analysts were penciling in earnings of about US$606.3 million by 2029 before this latest EPS upgrade.

Safe Bulkers' 8.00% Series C Cumulative Redeemable Perpetual Preferred Shares declared a quarterly dividend of $0.50 per share, a payout that works out to a forward yield of 7.68%. The dividend is payable October 30 to shareholders of record as of October 16, which is also the ex-dividend date. The declaration covers the Series C preferred series, one component of the company's preferred equity, and the $0.50 per-share figure applies to that series alone.

Safe Bulkers Cum Red Perp Pfd Shs Series D declared a $0.50 per share quarterly dividend, giving the preferred series a forward yield of 7.8%. The dividend is payable Oct. 30 to shareholders of record as of Oct. 16, which is also the ex-dividend date.

Star Bulk Carriers closed at $30.75, up 1.05% and ahead of the S&P 500's 0.73% gain. The shipping company is expected to report EPS of $1.33 for its upcoming quarter, up 375% from the prior-year quarter, on revenue of $395.63 million, a 49.94% increase. For the full fiscal year, the Zacks Consensus Estimates predict earnings of $4.53 per share and revenue of $1.44 billion, changes of +367.01% and +38.29% respectively. Over the last 30 days the Zacks Consensus EPS estimate rose 1.39%, and Star Bulk Carriers currently carries a Zacks Rank of #1 (Strong Buy). The stock trades at a Forward P/E of 6.72 versus its industry's 9.66, with a PEG ratio of 0.12 against the Transportation - Shipping industry average of 0.6.

Seanergy Maritime Holdings Corp closed the most recent trading day at $17.82, up 2.83% and outpacing the S&P 500's daily gain of 0.73%. The stock has fallen 6.48% over the past month, lagging the Transportation sector's 3.02% loss and the S&P 500's 0.55% gain. For its upcoming release, the company's projected EPS is $0.77, a 14.93% increase from the year-ago quarter, with consensus revenue of $50.69 million, up 7.87%. Full-year Zacks Consensus Estimates call for earnings of $3.57 per share and revenue of $201.97 million, representing year-over-year changes of +178.91% and +27.75%. Seanergy currently holds a Zacks Rank of #3 (Hold) and trades at a Forward P/E of 4.85, a discount to its industry's 9.66.

FedEx and United Parcel Service last month introduced new shipping security features aimed at protecting companies, especially e-commerce merchants, from fraud, theft and other supply chain risks. UPS launched UPS Secure Commerce, a suite of risk-management services that repackages pre-existing insurance, order visibility and technology products in one place, now supplemented by agentic AI agents; the offering combines UPS's InsureShield shipping insurance, the Parcel Pro shipment management platform and CommerceShield, a tool that screens for fraud during online checkout and analyzes in-transit risks to minimize delivery exceptions and chargebacks. UPS provides insurance through UPS Capital, which last year insured 62 million packages, paid out $132 million in claims and processed 97% of claims within five days. Emarketer projects global e-commerce sales will reach $6.88 trillion this year, representing 21% of total retail sales, and the Merchant Risk Council says 3.2% of that total will be lost to fraud. Meanwhile, FedEx launched FedEx Authenticated Delivery, a premium delivery option that uses a secure QR code authentication to help ensure packages are released only to an authorized recipient, providing an additional layer of protection for high-value and sensitive shipments such as luxury goods, electronics, healthcare, aerospace and collectibles. Neil Gibson, senior vice president of global customer experience at FedEx, said the future of delivery isn't just moving packages quickly but building greater trust throughout the delivery process.

Columbia Sportswear announced a new 10-year relationship under which GXO Logistics took over management of its primary European distribution center in Cambrai, France, handling inbound logistics, storage, order fulfillment and outbound distribution across multiple continental markets. The long-term mandate reinforces GXO's role in complex, omni-channel logistics for global brands and strengthens the contract-wins and revenue-visibility side of its investment story. GXO's narrative projects $15.7 billion revenue and $415.7 million earnings by 2029, requiring 5.2% yearly revenue growth and about a $283.7 million earnings increase from $132.0 million today, with a $70.67 fair value implying 54% upside to its current price. The most optimistic analysts already assumed revenues around US$16.4 billion and earnings near US$437 million by 2029, tied to faster margin gains. The deal does not directly change near-term focus on improving profitability and cash conversion, or execution risks tied to leadership turnover and large integrations like Wincanton.