I-Bytes Travel & Transportation Industry

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I-Bytes
Travel & Transportation
November Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates................................................................................................................................................19
3. Rewards and Recognition Updates..................................................................................................................25
4. Customer Success Updates................................................................................................................................35
5. Partnership Ecosystem Updates.......................................................................................................................42

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Financial, M & A Updates
Travel & Transportation Industry

Financial, M&A Updates
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Adani Ports (India): APSEZ Reports Q2 FY 21 Results
Q2 FY21, Key Highlights: -
• On the back of rebound in economic activities, cargo volume bounced back and registered a
phenomenal growth of 36% on a Q o Q basis and 7% on aY o Y basis.
• All segments of cargo registered growth on a Q o Q basis. While coal registered 30% growth, container
grew by 34%, crude by 52% and other bulk cargo registered a growth of 40%.
• Non-Mundra ports registered a growth of 28%, while Mundra port grew by 40%.
• Cargo volume at Hazira grew by 45%, Kattupalli by 54% and Dahej by 145%.
• Dhamra our eastern gateway port continues to register double digit growth. Cargo volume at Dhamra
increased by 30% on Q o Q basis and 21% on Y o Y basis.
• LNG and LPG which was added as part of our diversified cargo portfolio in October 2019 gained
traction. In Q2 FY21, Mundra Port handled 1,42,000 MT of LPG and 5,17,000 MT LNG.
• Adani Logistics operates 60 rakes and continues to be the largest private rail operator in India and
handled rail volume of 69,061 TEUs in Q2 of FY21.
H1 FY21, Key Highlights: -
• Free cash flow from operations after adjusting for working capital changes, capex and net interest cost
was Rs.2,884 cr. against Rs.1,002 cr. in H1 FY20.
• Free cash flow is expected to be in the range of Rs.5,500-Rs.6,100 cr. in full year of FY21.
• Net debt to EBIDTA for H1 FY21 is at 3.44x, this is on account of new debt of USD 750 mn. raised
for refinancing debt at KPCL level. We expect the ratio to come down within our targeted range of 3x to
3.5x by FY22.
Executive Commentary
Chief Executive Officer and Whole Time Director of APSEZ said, “APSEZ has proven the utility
nature of its portfolio of assets by increasing the market share in India to 24% in overall cargo. With
economy reopening in stages, APSEZ has returned to growth trajectory registering a cargo volume
growth of 36% on a Q o Q basis. Port EBIDTA improves to 71% on account of continuous focus on
operational efficiency. Our focus continues to be on preserving cash and ensuring adequate liquidity.
We continue to increase our free cash generation, in H1 FY21 cash flow from operations after
adjusting for working capital changes, capex and net interest cost, stands at Rs.2,884 cr.APSEZ is well
on course to achieve 500 MMT of cargo throughput by FY25. Our focus remains on improving the
free cash generation and ROCE of all our ports to be in excess of 16%.Our businesses and future
investments are aligned to sustainable growth with focus on preserving environment. We are
committed to reduce carbon emission and become carbon neutral by 2025.We expect cargo volume in
full year FY21 to be in the range of 245 to 250 MMT including KPCL, which we acquired in October
‘20”
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Key Financial Highlights

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Adani Ports And SEZ Ltd. (India) Completes Rs. 12000 Cr Acquisition Of
Krishnapatnam Port Company Ltd. (KPCL).
Adani Ports and Special Economic Zone Limited, India’s largest port
developer, operator and the logistics arm of the Adani Group announced the
completion of the acquisition of Krishnapatnam Port Company Ltd.,
(KPCL) for an enterprise value of Rs. 12,000 cr. This will result in APSEZ
having a controlling stake of 75% in KPCL from the CVR Group and other
investors. In FY21, the port is expected to generate an EBITDA of
approximately Rs. 1,200 cr, resulting in an acquisition EV/ EBITDA
multiple of 10x. KPCL is a multi-cargo facility port situated in the southern
part of Andhra Pradesh a state which has the second largest coastline in
India. This acquisition will accelerate APSEZ’s stride towards 500 MMT
by 2025 and is another step in implementing APSEZ’s stated strategy of
cargo parity between west and east coasts of India.
Chief Executive Officer and Whole Time Director of APSEZ said, “I am
happy that KPCL the second largest private port in India has now
become part of APSEZ portfolio. This transformational acquisition
enables us to roll out world class customer service to an increased
customer base and provide pan India solution to them. Our experience
of turning around acquisitions like Dhamra and Kattupalli ports will
enable us in harnessing the potential of KPCL. We will target to enhance
throughput at KPCL to 100 MMT by FY25 and double its EBIDTA by
FY23. With a vast waterfront and land availability of over 6,700 acres,
KPCL is capable of replicating Mundra and would be future ready to
handle 500 MMT. We will replicate our operations and maintenance
philosophy at KPCL, continue to focus on environment, reduce
emission levels and have zero tolerance for fatalities and thus improve
returns to stakeholders.”
Description
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AerCap (Ireland) Signed Financing Transactions for approximately $2.2 Billion
and Leased, Purchased and Sold 44 Aircraft in the Third Quarter 2020
AerCap Holdings N.V. has announced its major business transactions during the third quarter 2020:
• Signed financing transactions for approximately $2.2 billion.
• Signed lease agreements for 28 aircraft, including 3 widebody aircraft and 25 narrowbody aircraft.
• Purchased 9 new aircraft, including 8 Airbus A320neo Family aircraft and 1 Boeing 787-9.
• Executed sale transactions for 7 owned aircraft, including 2 Airbus A320 Family aircraft, 1 Boeing 737NG, 1 Boeing 747, 2
Boeing 767s and 1 Boeing 777-200ER.
AerCap is the global leader in aircraft leasing with one of the most attractive order books in the industry. AerCap serves
approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap is listed on the New
York Stock Exchange (AER) and has its headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam,
Shanghai, Abu Dhabi, Seattle and Toulouse.
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Aeroflot (Russia) announces Q3 and 9M 2020 RAS financial results
• As a result of the recovery of flights on the domestic market in Q3, passenger traffic grew more
than 4x quarter-on-quarter, cutting the overall decrease year-on-year from 90.6% in Q2 to 64.2% in
Q3 and consequently 59.1% for 9M.
• Revenue for 9M 2020 was RUB 176,950 million, a decrease of 58.1% year-on-year. Revenue in
Q3 increased by more than 2.5x quarter-on-quarter, to RUB 55,246 million. Lower load factors put
pressure on RASK despite comparable level of yields (+0.8% in 9M year-on-year; +1.2% in Q3
year-on-year). Moreover, some widebody aircraft continued to operate cargo flights from Q2; as a
result, revenue in this segment grew by more than 30% in 9M, further supporting the financial result
for the period.
• Cost of sales in 9M 2020 was RUB 253,224 million, 38.6% lower than in the year-ago period.
The decrease in costs was due to the reduction in operational volumes as well as extensive
cost-optimisation initiatives launched by management.
• As a result of optimisation measures, the Company achieved a total reduction of 38.6% in SG&A
for 9M 2020 year-on-year, including administrative staff costs, general operating costs, consulting
and marketing fees and booking system costs, as a result of lower booking volumes.
• The net loss for 9M 2020 was RUB 65.6 billion, primarily due to the virtual standstill of the fleet
and operational activity in Q2. Thanks to optimisation initiatives and the restoration of capacities in
strict lockstep with economic efficiency, the net loss for Q3 was reduced to RUB 23.3 billion, against
RUB 26.2 billion in Q2.
PJSC Aeroflot Deputy CEO for Commerce and Finance, said: “In Q3 2020 Aeroflot Group
carried 10.1 million passengers, 3.8 million of whom flew with Aeroflot airline. Taking into
consideration all the operational and economic challenges currently facing the aviation sector,
our gradual restoration of passenger traffic, driven primarily by the domestic market, is being
achieved in a financially prudent manner. Firstly, the passenger load factor continued to trend
upwards. Secondly, despite market headwinds, we were able to sustain Aeroflot airline yields at
levels comparable to previous year.Thanks to growth of passenger numbers in the third quarter,
PJSC Aeroflot increased revenue quarter-on-quarter by RUB 34.4 billion, while cost of sales
increased by RUB 21.3 billion. As a result, the gross loss declined by RUB 13.1 billion. These
metrics clearly support our balanced approach to restoring capacities, striking a balance between
passenger numbers and our financial results, as well as the results of numerous optimisation
initiatives and strict cost control.”
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Air Canada Completes Aircraft Sale and Leaseback Transactions
Air Canada announced that it recently completed sale and leaseback transactions for
three Boeing 737 MAX 8 aircraft with Jackson Square Aviation and six Boeing 737
MAX 8 aircraft with Avolon Aerospace Leasing Limited for total proceeds of US$365
million (C$485 million) and long-term lease commitments of US$345 million (C$458
million). The nine aircraft were delivered to Air Canada over the past three years.Since
the start of the COVID-19 pandemic in the first quarter of 2020, Air Canada has raised
almost $6.0 billion in liquidity. Additionally, it recently completed two long term
financings to replace $1.4 billion in short-term debt coming due within the next nine
months.Air Canada is utilizing the net proceeds from these transactions to supplement its
working capital and for other general corporate purposes. The net proceeds from the
transactions will serve to increase Air Canada's cash position, thereby allowing for
additional flexibility in the implementation of mitigation and recovery measures in
response to the COVID-19 pandemic.Air Canada will update the amount remaining in its
unencumbered asset pool as part of its third quarter 2020 financial reporting process. Air
Canada will continue to explore financing arrangements as additional liquidity may be
required or to refinance existing debt to push out maturities.
"Since the start of the COVID-19 crisis, Air Canada has accessed financial markets
numerous times and has successfully raised almost $6.0 billion in liquidity, on
reasonable terms and conditions, including with this transaction, as it continues to
maintain liquidity levels to mitigate the challenges and uncertainty ahead. We are
very pleased to be extending our strong relationship with Avolon and beginning a
new relationship with Jackson Square Aviation," said Deputy Chief Executive
Officer and Chief Financial Officer of Air Canada.
Description
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Alaska Air Group (USA) reports third quarter 2020 results along with
COVID-19 updates
Financial Results:
• Reported net loss for the third quarter of 2020 under Generally Accepted Accounting Principles (GAAP) of
$431 million, or $3.49 per diluted share, compared to net income of $322 million, or $2.60 per diluted share in
the third quarter of 2019.
• Reported net loss for the third quarter of 2020, excluding payroll support program wage offsets, special
items and mark-to-market fuel hedge accounting adjustments, of $399 million, or $3.23 per diluted share,
compared to adjusted net income of $326 million or $2.63 per diluted share, in the third quarter of 2019.
• Maintained adjusted net debt of $1.7 billion, flat from Dec. 31, 2019.
• Reported a debt-to-capitalization ratio, including short-term borrowings related to COVID-19, of 59%.
• Held $3.8 billion in unrestricted cash and marketable securities as of Sept. 30, 2020.
Liquidity Updates:
• Reduced cash burn to approximately $4 million per day in the third quarter from approximately $5 million
per day in the second quarter.
• Obtained nearly $1.2 billion in financing through the issuance of Enhanced Equipment Trust Certificates,
secured by 42 Boeing and 19 Embraer aircraft.
• Reached an agreement with the U.S. Treasury in September to participate in the CARES Act loan program,
and drew $135 million in September. The U.S. Treasury advised in October 2020 that the facility will be upsized
to $1.9 billion.
• Held $3.7 billion in cash and marketable securities as of Oct. 21, 2020 and total liquidity of $5.5 billion.
"We are gaining momentum as we climb our way out of this crisis," said Air Group CEO. "Each of the last
six months has been better than the month before in terms of flights offered and passengers carried, and to
date, we've kept our net debt unchanged. Alaska has competitive advantages that continue to serve us well
in this crisis, and we are fighting this battle with the most passionate and dedicated employees in the
business."
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American Airlines Reports Third-Quarter 2020 Financial Results
• Third-quarter revenue of $3.2 billion, down 73% year-over-year on a
59% year-over-year reduction in total available seat miles (ASMs).
• Third-quarter pretax loss of $3.1 billion. Excluding net special items1,
third-quarter pretax loss of $3.6 billion.
• Third-quarter net loss of $2.4 billion, or ($4.71) per share. Excluding
net special items1, third-quarter net loss of $2.8 billion, or ($5.54) per
share.
• Ended third quarter with approximately $13.6 billion of total available
liquidity. In addition, in October, the company increased its loan capacity
by $2 billion through the CARES Act loan program to $7.5 billion. With
this increase, the company’s third-quarter pro forma liquidity balance is
approximately $15.6 billion.
• Announced authorization to issue up to $1 billion of equity in an
at-the-market offering to further bolster liquidity.
“During the third quarter, we took action to reduce our costs, strengthen
our financial position, and ensure our customers return to travel with
confidence,” said American Airlines Chairman and CEO. “The
American Airlines team is doing a remarkable job taking care of our
customers and each other during the most challenging time in our
industry’s history.We have a long road ahead and our team remains fully
engaged and focused not just on managing through the pandemic, but
on making sure we are prepared for when demand returns. We are
confident that the continued efforts of our team and the actions we have
taken will drive customer confidence and strengthen our company for
the future.”
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CN (Canada) Third Quarter Results: Capitalizing on Sequential
Improvements in Key Markets
Third-quarter 2020 compared to third-quarter 2019
• Volumes, in terms of revenue ton miles (RTMs), improved sequentially in each
month of the third quarter of 2020 and September volumes increased on a year-over-year
basis, reflecting demand for certain commodities in-line with 2019 levels.
• Revenues of C$3,409 million, a decrease of C$421 million or 11 per cent.
• Diluted earnings per share of C$1.38, a decrease of 17 per cent.
• Operating ratio of 59.9 per cent, an increase of 2.0 points.
• Operating income of C$1,366 million, a decrease of 15 per cent.
• Free cash flow for the first nine months of 2020 was C$2,087 million, an increase of
C$588 from the prior period.
• Operating expenses for the third quarter decreased by eight per cent to C$2,043
million, mainly driven by lower fuel and labor costs, as well as decreased purchased
services and material expense. The decrease in the first nine months was partly offset by
a loss on assets held for sale in the second quarter, resulting from the Company's
decision to market for sale for on-going rail operations, certain non-core lines.
"CN's people never stopped working since the beginning of the pandemic and I am
proud of the essential transportation service they have provided. As we look at the
fourth quarter and beyond, we continue to see sequential improvements and
momentum leading us to have a cautious optimism about the future. We remain
confident in our ability to continue delivering long-term shareholder value."-
President and Chief Executive Officer of CN
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CP (Canada) to acquire full ownership of the Detroit River Rail Tunnel
Canadian Pacific and OMERS, the defined benefit pension plan
for municipal employees in the province of Ontario, announced
they have entered into a purchase agreement whereby CP will
acquire full ownership of the Detroit River Rail Tunnel from
certain affiliates of OMERS. The purchase price for the
transaction is approximately US$312 million subject to
customary closing adjustments. CP previously owned a 16.5
percent stake of the tunnel in partnership with OMERS. The
2.6-kilometre tunnel linking Windsor and Detroit will continue
to be operated by CP. The acquisition of the tunnel will reduce
CP's operating costs related to movements through the tunnel.
"This is an important corridor for CP and by taking full
ownership, we can better operate the asset to the benefit of
our customers and the North American supply chain," said
CP President and CEO. "This strategic acquisition combined
with our recent purchase of the CMQ will further integrate
the eastern part of our network and create value for our
shareholders."
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DSV (Denmark) Panalpina acquires Prime Cargo
DSV Panalpina acquires Prime Cargo from Mitsui-Soko Group in Japan.
The acquisition includes Prime Cargo’s activities in Denmark, Poland and
China. DSV Panalpina acquires Prime Cargo, an international forwarding
company which offers tailored freight, warehousing and logistics solutions.
Prime Cargo is headquartered in Kolding, Denmark, but operates
internationally and has activities in both Poland and China. Prime Cargo is
a company that DSV Panalpina has looked at with much respect for several
years due to the company’s high degree of specialisation within selected
verticals where DSV Panalpina has little activity. With Prime Cargo’s
strong competencies in the field of e-commerce and fashion retail, of which
the current fashion product setup in China plays an important part, the
company is a perfect match for DSV Panalpina’s Danish Solutions division
and Air & Sea division, respectively.
“Together, we can offer our customers much more. We will strengthen
the product offerings to our combined global customer portfolios, which
will have a global one-stop service with great value-adding services”,
says Executive Vice President, DSV Air & Sea, Northern Europe.
Description
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Expeditors (USA) Reports Third Quarter 2020 Eps Of $1.12
• Diluted Net Earnings Attributable to Shareholders per share (EPS1) increased
22% to $1.12
• Net Earnings Attributable to Shareholders increased 19% to $191 million
• Operating Income increased 22% to $252 million
• Revenues increased 19% to $2.5 billion
• Airfreight tonnage volume and ocean container volume both decreased 5%
• During the three months ended September 30, 2020, They did not repurchase any
shares of common stock and during the nine months ended September 30, 2020, they
repurchased 4.4 million shares of common stock at an average price of $71.41 per
share. During the three and nine months ended September 30, 2019, they
repurchased 0.9 million and 4.1 million shares of common stock at an average price
of $69.51 and $72.60 per share, respectively.
“Volumes started to recover across most of our products during the quarter, even
as the global effects of COVID-19 continued to impact our business worldwide,”
said President and Chief Executive Officer. “Similar to Q2, the pandemic caused
an increase in demand for certain goods at the same time that air capacity
remained tight due to travel restrictions and the limited schedule of domestic and
international passenger flights. This caused continued imbalances between
carrier capacity and demand, principally on exports out of North Asia, which was
the only market in which air volumes increased during the third quarter. To meet
the urgent transportation needs that could not be fulfilled with scheduled
capacity, we utilized charter capacity for certain customers, resulting in higher
average buy and sell rates. While airfreight buy and sell rates were generally
lower in our third quarter than the extremes we experienced in the second
quarter, they remained historically elevated and highly unpredictable due to
ongoing supply/demand imbalances. We would expect air pricing to remain
volatile until passenger traffic starts to return in a meaningful way.
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Ferrovial (Spain) reports €241 million in EBITDA in the first nine
months of 2020
• Ferrovial reported €241 million in EBITDA between January and September 2020, up from €20 million in the same period of last year. Revenues increased by 11.1% in like-for-like terms to €4,569 million, boosted by good revenue
performance in Construction. Traffic and operating profit figures reflect the impact of COVID-19.
• The results for the first nine months include the impact of the Airports business (equity-accounted), a €39 million provision for the corporate restructuring program, discontinued operations, and the court decision on Autema. As a result,
the company reported a net loss of -€498 million.
• Ferrovial is facing the current circumstances from a sound financial position, having accumulated €7,541 million in liquidity. This is the result of its strategy of protecting liquidity and strengthening its financial position. Among other
initiatives in this area, it issued €780 million 6-year corporate bonds and drew €645 million against syndicated revolving credit lines, as well as €510 million in new liquidity lines; the company also made two European Commercial Paper
(ECP) issues, amounting to €575 million and €698 million, at negative rates, under the ECB’s Pandemic Emergency Purchase Programme (PEPP). Net cash excluding infrastructure projects amounted to €1,698 million (including discontinued
operations).
• The company maintains its firm commitment to society in combating the pandemic; through the “Ferrovial Together COVID-19” fund, it has donated €8.7 million to medical equipment, research into medicines and vaccines, and support
for vulnerable groups and those at risk of exclusion in the territories where it operates.
• Ferrovial collected €217 million in dividends from assets in which it is invested in the first nine months of the year. Specifically, Canadian toll road 407 ETR distributed CAD 562.5 million (€159 million to Ferrovial) and Heathrow
airport distributed GBP 100 million (€29 to Ferrovial).
Business units
• The Construction division reported a 14.2% increase in revenues in like-for-like terms to €4,262 million, boosted by projects in the United States and strong performance of Budimex. Overseas markets accounted for 87% of total
revenues. All the Construction subsidiaries registered double-digit growth in revenues, with Webber’s good performance (+30.6% on a comparable basis) being particularly noteworthy. The division obtained €103 million in operating cash
flow before taxes, while its EBIT margin reached 3.2% in the third quarter. The Construction backlog amounted to €10,605 million.
• Revenues in the Toll Roads division declined by 19.9% like-for-like to €298 million as a result of the reduction in traffic. The United States accounts for 74% of this division’s revenues. EBITDA fell by 22.4% like-for-like to €197
million.
• In the Airports division, the decline in traffic reduced Heathrow’s revenues by 58.7% and its adjusted EBITDA by 82.2%. The AGS airports were significantly affected by the decline in traffic due to COVID-19 and by the collapse of
Flybe, resulting in a reduction of 66.1% in revenues and 117.5% in EBITDA.
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JetBlue (USA) Announces Third Quarter 2020 Results
• Reported GAAP loss per share of ($1.44) in the third quarter of 2020 compared to a diluted
earnings per share of $0.63 in the third quarter of 2019. Adjusted loss per share was ($1.75)in the
third quarter of 2020 versus adjusted diluted earnings per share of $0.59 in the third quarter of
2019. Note A to this earnings release includes the GAAP to Non-GAAP reconciliation between
reported and adjusted diluted earnings per share.
• GAAP pre-tax loss of ($578) million in the third quarter of 2020, compared to a pre-tax
income of $254 million in the third quarter of 2019. Excluding one-time items, adjusted pre-tax
loss of ($690) million in the third quarter of 2020 versus adjusted pre-tax income of $239 million
in the third quarter of 2019
Operational Highlights from the Third Quarter
• Third quarter 2020 revenue declined 76% year over year as a result of the impact of
COVID-19. The decline is better than our initial planning assumption for the quarter of 80%, as
a result improving leisure and visiting friends and relatives (“VFR”) travel trends throughout the
quarter.
• Reduced third quarter 2020 capacity by 58% year over year compared to an initial planning
assumption of a decrease of at least 45%, as a result of actions taken to manage cash burn and
protect liquidity.
“Day in and day out, our crewmembers continue to deliver on our mission - to Inspire
Humanity. Their dedication and passion for delivering outstanding service has been
remarkable, especially as we work to restore our customers’ confidence in air travel,” said
JetBlue’s Chief Executive Officer.Our efforts to raise liquidity, reshape our network, and
reduce costs, are bearing fruit, and have helped us navigate the immediate crisis. We are
confident that our low-cost, low fare leisure model, with the best crewmembers in the
industry, and a brand that customers trust, will all help JetBlue emerge stronger from this
crisis.In the near term, we continue to manage our daily flying and take tactical actions to
ensure we generate cash as demand recovers. We are also executing revenue and cost
initiatives, redeploying our aircraft to new, cash accretive markets, and setting JetBlue up for
a strong rebound. Naturally, we aim to be free cash flow positive, with the goal of repairing
our balance sheet over the coming years.”
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Norfolk Southern (USA) reports third-quarter 2020 results
• Norfolk Southern Corporation reported financial results for the quarter ended September
30, 2020. During the quarter, the company achieved net income of $569 million, diluted
earnings per share of $2.22, and an operating ratio of 66.5%. These results include a
previously announced $99 million non-cash impairment charge. Excluding the effects of the
impairment charge, adjusted third-quarter net income was $643 million, adjusted diluted
earnings per share were $2.51, and the adjusted operating ratio was 62.5%, which reflects a
240 basis point improvement compared with third-quarter 2019.
• Railway operating revenues of $2.5 billion decreased 12% compared with third-quarter
2019, driven by a 7% decline in total volume and 5% decline in revenue per unit.
• Railway operating expenses were $1.7 billion, including a $99 million non-cash
impairment charge related to an equity-method investment.
• Income from railway operations was $840 million and the operating ratio was
66.5%.Excluding the impairment charge, adjusted income from railway operations was
$939 million, while the adjusted operating ratio improved to 62.5% versus the third-quarter
record of 64.9% set in 2019.
“Since launching our Precision Scheduled Railroading strategy, we have significantly
enhanced Norfolk Southern’s operational and financial performance and delivered
superior returns for shareholders," said Norfolk Southern chairman, president and CEO.
“Given the impact of the COVID-19 pandemic on our industry and the broader
economy, we quickly executed a plan to align our assets and resources with demand and
generate sustainable margin improvement. In addition to maintaining outstanding
service levels with fewer resources and reduced headcount, we successfully idled our
fifth hump in the last five quarters, helping Norfolk Southern achieve record
productivity. With the resilience of our railroad, strong customer relationships and the
hard work of our team, including new Chief Operating Officer and PSR veteran Cindy
Sanborn, we are confident in our ability to achieve our goal of a 60% operating ratio
with more to come, while delivering enhanced free cash flow and further value creation
for Norfolk Southern shareholders.”
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Old Dominion Freight Line (USA) Reports Third Quarter 2020 Earnings
Per Diluted Share Of $1.71
• Old Dominion’s net cash provided by operating activities was $170.2
million for the third quarter of 2020 and $686.5 million for the first nine
months of the year. The Company had $420.4 million in cash and cash
equivalents at September 30, 2020.
• Capital expenditures were $46.3 million for the third quarter of 2020 and
$166.5 million for the first nine months of the year. The Company expects its
aggregate capital expenditures for 2020 to total approximately $240 million,
including planned expenditures of $195 million for real estate and service
center expansion projects; $20 million for tractors and trailers; and $25
million for information technology and other assets.
• Old Dominion paid $17.6 million in cash dividends in the third quarter of
2020 and returned $360.3 million in total capital to its shareholders during the
first nine months of the year. For the year-to-date period, this total consisted of
$306.8 million of share repurchases and $53.5 million of cash dividends.
President and Chief Executive Officer of Old Dominion, commented, “Old
Dominion’s financial results for the third quarter of 2020 include an
increase in revenue and a Company-record operating ratio that contributed
to the 24.8% increase in earnings per diluted share. The strength of our
financial results reflects the remarkable recovery in the domestic economy
as well as the continued execution of our long-term strategic plan that
focuses on providing superior service at a fair price. Demand for our
industry-leading value proposition continues to improve, and we will
continue to invest in the three key elements of our capacity – people,
equipment and service centers – that will support our ability to win market
share over the long term.”
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Southwest (USA) Reports Third Quarter 2020 Results
• The Company's third quarter 2020 operating revenues decreased 68.2 percent,
year-over-year, to $1.8 billion, as a result of continued negative impacts to passenger demand
and bookings due to the pandemic. Third quarter 2020 operating revenue per ASM (RASM, or
unit revenues) was 6.78 cents, a decrease of 52.7 percent, driven by a load factor decrease of 38.6
points and a passenger revenue yield decrease of 23.1 percent, all year-over-year.
• Following the modest improvements in passenger demand and bookings in May and June
2020, the Company experienced a stall in improving revenue trends in July 2020, due to the rise
in COVID-19 cases. In August and September 2020, the Company again experienced modest
improvements in close-in leisure passenger demand and bookings.
• Third quarter 2020 total operating expenses decreased 33.5 percent, year-over-year, to $3.2
billion. Excluding special items, third quarter 2020 operating expenses decreased 30.1 percent,
year-over-year, to $3.4 billion. Total operating expenses per ASM (CASM, or unit costs)
decreased 1.1 percent, compared with third quarter 2019. Excluding special items, third quarter
2020 CASM increased 4.1 percent, year-over-year.
• Third quarter 2020 economic fuel costs1 were $1.23 per gallon and included $24 million, or
$.08 per gallon, in premium expense, compared with $2.07 per gallon in third quarter 2019,
which included $20 million, or $.04 per gallon, in premium expense, with no cash settlements
from fuel derivative contracts in either period.
Chairman of the Board and Chief Executive Officer, stated, "The pandemic persists along
with the negative effects on air travel demand, resulting in our third quarter net loss of
approximately $1.2 billion. We are encouraged by modest improvements in leisure
passenger traffic trends since the slowdown in demand experienced in July. However, until
we have widely-available vaccines and achieve herd immunity, we expect passenger traffic
and booking trends to remain fragile. In response, we will continue to monitor demand and
prudently adjust our available seat miles (ASMs, or capacity), while pursuing further
revenue and cost opportunities. I am grateful to our People for maintaining a safe and
reliable operation with industry-leading Customer Service2, which generated the best Net
Promoter Score in our history3 in third quarter.
16

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Union Pacific (USA) Reports Third Quarter 2020 Results
• Quarterly freight revenue declined 11%, compared to third quarter 2019, as core pricing
gains were more than offset by lower volumes, a less favorable business mix, and decreased fuel
surcharge revenue.
• Union Pacific's 58.7% operating ratio, an all-time quarterly record, improved 0.8 points
compared to the third quarter 2019. Lower fuel prices positively impacted the operating ratio by
100 basis points.
• The $1.36 per gallon average quarterly diesel fuel price in third quarter 2020 was 35% lower
than third quarter 2019.
• Union Pacific's reportable personal injury rate was 0.90 per 200,000 employee-hours for the
first three quarters 2020, compared to 0.82 for the same period 2019.
• Quarterly freight car velocity was 220 daily miles per car, a 3% improvement compared to
third quarter 2019.
• Quarterly locomotive productivity was 138 gross ton-miles per horsepower day, an all-time
quarterly record and an 11% improvement compared to third quarter 2019.
• Quarterly workforce productivity was 998 car miles per employee, an all-time quarterly
record and a 13% improvement compared to third quarter 2019.
• Average maximum train length was 8,984 feet, a 13% increase compared to third quarter
2019.
"Our third quarter results represent another step in our company's transformation. We
demonstrated our ability to efficiently adjust to a sharp rebound in volume, which increased
19% from the second quarter, while operating expenses, excluding fuel price changes,
increased only 11% sequentially," said Union Pacific chairman, president and chief
executive officer. "The strong financial results and quality service product delivered in the
quarter are a testament to the women and men of Union Pacific as they continue to exhibit
their commitment and resilience through safe operations."
17

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XPO (USA) Announces Third Quarter 2020 Results
• Revenue increased to $4.22 billion, compared with $4.15 billion for the third quarter 2019.
Net income attributable to common shareholders was $84 million, compared with $117 million
for the third quarter 2019. Operating income was $223 million, compared with $229 million for
the third quarter 2019. Diluted earnings per share was $0.83, compared with $1.14 for the third
quarter 2019.
• Adjusted net income attributable to common shareholders, a non-GAAP financial measure,
was $86 million for the third quarter 2020, compared with $121 million for the same period in
2019. Adjusted diluted earnings per share, a non-GAAP financial measure, was $0.84 for the
third quarter 2020, compared with $1.18 for the same period in 2019. GAAP and adjusted diluted
EPS for the third quarter 2020 were impacted by approximately $0.25 related to a higher income
tax rate and $0.07 related to higher interest expense, compared with the same period last year.
• Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted
EBITDA”), a non-GAAP financial measure, was $439 million for the third quarter 2020,
compared with $438 million for the same period in 2019.
• For the third quarter 2020, the company generated $298 million of cash flow from operations
and $247 million of free cash flow, a non-GAAP financial measure. Reconciliations of
non-GAAP financial measures used in this release are provided in the attached financial tables.
Chairman and chief executive officer of XPO Logistics, said, “Our business rebounded
dramatically in the third quarter. Revenue, adjusted EBITDA, adjusted EPS and free cash
flow were all decisively higher than expected. Our growth was broad-based, spanning our
service offerings and geographies.Supply chain outsourcing is accelerating, and e-commerce
continues to be a huge tailwind for us, particularly in contract logistics and last mile. We
grew our last mile revenue by 11% in the quarter, year-over-year, by leveraging our North
American hubs and XPO Direct network. In truck brokerage, we realized revenue growth of
27%, with a 13% increase in net revenue per load. Our XPO Connect technology is a major
driver of these results — all of our non-asset transportation services now use this powerful
platform to manage their freight movements.”
18

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Nippon Express (Japan) launches "NEX-SPEED Super-Fast! Atlanta"
high-speed consolidated air cargo service to the US Southeast
19
Solution Description
Nippon Express Co., Ltd. launched its "NEX-SPEED Super-Fast! Atlanta" high-speed consolidated service for air cargo being
shipped out of Haneda Airport in Japan to the southeastern US via Atlanta Airport.Nippon Express is the only forwarder with a
work facility handling both domestic and international cargo inside Haneda Airport, allowing it to sort cargo arriving on domestic
flights within the airport and then load the cargo aboard international flights. The company has its own facility（CFS）in close
proximity to Atlanta Airport, and this, combined with the (optional) emergency delivery service offered by the Atlanta Branch,
enables same-day delivery. With operations at both the departure and arrival points being handled in-house, lead time is about a
day and a half less than that of Nippon Express's conventional services.Cargo arriving at Atlanta Airport can be delivered that
same day within a radius of approximately 300km from Atlanta, an area that covers most of Georgia and Alabama as well as
portions of other neighboring states.Nippon Express will be continuing to develop services that meet emergency transport needs
and endeavoring to optimize customers' supply chains.

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Singapore Airlines Customers Get Even More Options With All-New Kris+
App
20
Singapore Airlines has rolled out Kris+, an all-new app that brings payment, lifestyle and rewards services together in one platform for its customers. Building on the strengths
and popularity of the KrisPay app, Kris+ goes beyond being a loyalty wallet and combines the best in dining, retail and entertainment discounts. It also offers customers the
option to earn miles from everyday spend, or pay for purchases and experiences with these miles.With an updated interface and user experience, Kris+ will also allow Singapore
Airlines to personalise offers for its global customer base via location-based or interest-based recommendations, offer discounts, miles-back, instant rewards and exclusive
birthday and PPS privileges via an easy-to-use platform.Kris+ has more than 150 partners with over 650 outlets in Singapore providing customised deals with privileges for our
customers. Products, services and experiences from our partners have been curated with our customers in mind, and offered with comprehensive discounts. More partners will
be progressively added in the coming months.In addition, Singapore residents who travel abroad will also enjoy special offers and rewards from January 2021 when Kris+
brings on board overseas partners and merchants in selected destinations to the platform.KrisPay, the world’s first blockchain-based airline loyalty digital wallet, has also been
integrated into Kris+. It will soon be enhanced with other in-app payment options, allowing users to simultaneously earn more miles with each purchase. Kris+ users can look
forward to more features along with the progressive addition of more merchants and services to the app.Kris+ has already been downloaded over 130,000 times at the App Store
(for iOS users) and Play Store on Google Play (for Android users).SIA’s investment in Kris+ is part of the Company’s ongoing strategy to drive non-airline revenue streams in
the coming years. The Kris+ ecosystem, which has been built to enhance customer-merchant relationships, will further power growth for the KrisFlyer frequent flyer business
and broaden its brand appeal and recognition. This will allow customers to enjoy attractive discounts on their everyday purchases while merchants are able to reach out to SIA’s
highly-valued 4.7 million-strong KrisFlyer base.

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Singapore Airlines Launches Star Alliance Digital Connection Service
21
Singapore Airlines (SIA) has become the launch airline for the digital version of the Star Alliance Connection Service. The Star Alliance Connection
Service was introduced in 2017 to facilitate time critical flight connections between Star Alliance member airlines and, until now, has required dedicated
staff support to assist affected passengers in transferring between flights. The digital version of the Star Alliance Connection Service embeds in the
participating member airline’s mobile app, providing updated transfer information and intuitive navigational services through the customer’s
smartphone at major hub airports, without further intervention. Information provided by the digital version includes the optimum route from the arrival
to the departure gate, as well as distance and time needed to get there. In the case of critical connections, passengers receive a digital express connection
card that allows expedited passage through certain checkpoints. Star Alliance adopted the Airline Accelerator technology of Living Map, a UK-based
digital location and mapping specialist, whose advanced indoor positioning product provides the foundation for each customized customer routing
within the airport terminal. This initial release focuses on London Heathrow Airport (LHR) Terminal 2. SIA passengers connecting to or from any other
Star Alliance member airline in the terminal will have access to the airport maps via the SingaporeAir mobile app. Star Alliance plans to roll out the
digital version of its Connection Service to more transfer-intensive airports for adoption by other member airlines in the future. Android users are
experiencing this enhancement first, and the implementation for iOS users will take place subsequently.

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United Airlines Redesigns Mobile App to be More Accessible for People
with Visual Disabilities
22
United Airlines launches a redesigned version of its mobile app, with new enhancements intended to make travel easier for people with visual
disabilities. Throughout its award-winning app, the carrier has increased color contrast, added more space between graphics and reordered
how information is displayed and announced to better integrate with the screen reader technologies like VoiceOver and TalkBack that are built
into most handheld devices and read aloud on-screen messages and notifications. By restructuring the way the information is organized on the
app, screen readers are better able to convert text to audio in the proper, logical sequence, allowing customers to better understand and
navigate the app. According to the National Aging and Disability Transportation Center, more than 25 million Americans have self-reported
travel-limiting disability. The improved accessibility of the app is just one of the ways United is continuing its commitment to accessibility
and inclusion of customers with disabilities.Visually impaired customers will notice that these changes make it easier to manage all aspects
of day-of travel, including check in, viewing reservation details and flight status, bag tracking and more. Ray Campbell, a member of United's
digital team who's visually impaired and sits on the board of the American Council of the Blind, played a key role in helping redesign the app,
and walks through how these changes make flying easier for him in this video.

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United Airlines Launches World's First Free Transatlantic COVID-19
Testing Pilot
23
United Airlines announced the world's first free transatlantic COVID-19 testing pilot program for customers. From November 16
through December 11, the airline will offer rapid tests to every passenger over 2 years old and crew members on board select
flights from Newark Liberty International Airport (EWR) to London Heathrow (LHR), free of charge. Anyone who does not wish
to be tested will be placed on another flight, guaranteeing everyone on board other than children under two will have tested
negative before departure.United will share customer feedback of this pilot with governments on both sides of the Atlantic to
further demonstrate the effectiveness of these programs as an alternative to mandatory quarantines or duplicative travel
restrictions. United will collaborate with Premise Health, who will administer the rapid testing pilot program for the EWR-LHR
flight. The test will be given to passengers traveling on United Flight 14, departing at 7:15 p.m., Mondays, Wednesdays and
Fridays. Appointments for the test are required, and customers are advised to schedule their tests at least three hours before their
flight. An on-site testing facility will be located at the Newark United Club near Gate C93.

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UPS (USA) Enables Global Launch Of New Apple Products
24
UPS drivers are on the road across the United States and internationally, making highly- anticipated deliveries of Apple’s new iPhone 12, iPhone 12 Pro
and iPad Air. October 23 is launch day for the new iPhone and iPad, and UPS has worked for weeks to ensure that pre- ordered devices will be delivered
to customers and retail stores as promised. UPS is a major carrier involved in the launch, and is delivering iPhones and iPads to stores, distribution
centers and customers in more than 20 countries.Supporting the launch of a new Apple product requires a wide variety of UPS services, including
Global Freight Forwarding, UPS Airlines and Small Package ground delivery. The Customer Solutions and Program Management group is the
conductor, directing a complex special operating plan.UPS Worldport, the company’s global air hub in Louisville, Kentucky, and the company’s airline
play a pivotal role in the launch. UPS Airlines and charter cargo jets transport phone shipments, pre-positioning the products in the U.S. before launch
day. And Worldport ran a special sort, dedicated solely to sorting iPhone 12, iPhone 12 Pro and iPad Air shipments.On Oct. 22, the day prior to the
launch, package handlers at Worldport unloaded hundreds of thousands of shipments onto conveyor belts for sorting throughout the 5.2 million square
foot facility. They included both single devices destined for customers, and larger shipments of phones to Apple Stores and other retailers. Scanners read
the smart label on each package, routing it automatically via 155 miles of conveyor belts to an outbound chute, where they were placed in containers
for loading onto outbound UPS flights headed for destinations across the U.S.

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Aeroflot (Russia) strengthens position as leading global aviation group;
Russian market rebounds
25
Aeroflot strengthened its position among leading global airline groups, ranking in the top three by passenger traffic growth (9%) and in the top five for RPK growth (9.2%).
Pobeda, the Group’s low-cost carrier and a key growth driver for the Group, had the second highest passenger load factor anywhere in the world (94%), according to an analysis
of data from airlines globally for 2019 by Airline Business. Pobeda was also a global leader by passenger traffic growth (43.2%), behind only Indonesia AirAsia (52.1%).
Aeroflot also reported strong operating results on domestic routes for September and Q3 2020, as the Russian passenger aviation market rebounds following the initial impact
of the COVID-19 pandemic. Aeroflot Group carried 3.1 million passengers on domestic routes in September 2020. Pobeda recorded a significant year-on-year increase in
passenger numbers of 17.8%, carrying 1.1 million passengers domestically during the month. The low-cost point-to-point carrier carried 3.4 million passengers in Q3 3020, a
year-on-year increase of 12.0%. Aeroflot Group's domestic traffic matched the levels of 2019 in August and September. According to IATA, the Russian domestic passenger
aviation market is the only major market globally where volumes have fully recovered on a year-on-year basis. Russian domestic travel recovered much faster than other
markets, including China, where the domestic market is still 20% below comparable indicators for the year-ago period. Russians have returned to flying following the initial
impact of the COVID-19 pandemic, with many electing to take holidays domestically. Aeroflot Group has seen higher demand for Black Sea resorts as well as outbound-
tourism and cultural destinations including the northern Caucasus, Lake Baikal, Altai mountains, the Russian Far East and cities in Northwest Russia such as St Petersburg,
Murmansk and Kaliningrad. Aeroflot was the world’s 14th largest airline group by RPKs (156,250) in 2019, significantly ahead of many major legacy carriers. Aeroflot Group
ranked 17th globally by passenger traffic (60.7 mln) and 18th by operating income (USD 938 mln).
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Aeroflot (Russia) named best airline in Eastern Europe at Business
Traveller Awards
26
Aeroflot has been recognised as the best airline in Eastern Europe for the third straight year at the prestigious Business Traveller Awards. Business
Traveller, a leading British magazine dedicated to premium travel, has held its annual awards for more than 30 years. During this time, the Business
Traveller Awards have become one of the most coveted recognitions in the travel industry. Winners are chosen by readers of the magazine: mainly
business travellers, 81% of whom travel in first or business class and make an average of 25.5 flights per year. The Business Traveller Awards include
nominees across various categories, honouring the most distinguished representatives of the global travel sector. This year, prizes in other categories
were received by industry leaders such as Emirates, British Airways, Qatar Airways, Singapore Airlines, and Virgin Atlantic.Aeroflot ranks among the
20 largest airlines globally.In 2019, Aeroflot carried 37.2 million passengers (60.7 million passengers as Aeroflot Group including
subsidiaries).Aeroflot was the world’s most on-time mainline airline in 2019 according to Cirium’s On-Time Performance Review. Aeroflot holds
4-Star Airline status from Skytrax and was named Best Airline in Eastern Europe for the eighth time at the 2019 Skytrax World Airline Awards. Aeroflot
has also been awarded a five-star global airline rating by US aviation association APEX.Aeroflot was named the strongest brand in Russia in 2020 and
the world’s strongest airline brand according to leading brand strategy consultancy Brand Finance. Aeroflot ranks fourth in the industry for
digitalisation, according to Bain & Company research.
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Fitch international ratings agency maintains Aeroflot's long-term credit
rating at «ВВ-» level
27
The international ratings agency Fitch Ratings has maintained its credit rating for PJSC Aeroflot at the level of "BB-", keeping
its outlook at "negative" level. The agency noted that despite “uncertainty around demand and financial-profile recovery”,
which reflects agency’s view on the global air transportation industry and explains maintained negative outlook, “new equity
proceeds and other state support measures boosting liquidity”. The agency notes that Aeroflot Group’s “liquidity will remain
sufficient to sustain operations in 2020–2021, assuming recent substantial government support and measures to preserve
cash”. Fitch separately noted recovery of Russian domestic market as well as strong indicators of the Group in this segment
from June 2020 and mentioned that domestic air traffic “substantially improved in August-September 2020”. The agency
expects that unlike passenger traffic of EMEA (Europe, Middle East and Africa) carriers “Aeroflot’s recovery will be
facilitated by a large share of traffic in the domestic market and low travel penetration in Russia”.
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Air Canada Continues to Combat Illegal Wildlife Trade (IWT) as it Receives
New Certification by the International Air Transport Association
28
Air Canada is proud to announce that it has successfully attained the International Air Transport Association (IATA) Illegal Wildlife Trade
(IWT) certification. Introduced last year by IATA, the IWT certification incorporates the 11 commitments of the United for Wildlife (UFW)
Buckingham Palace Declaration for airlines engaged in fighting the trade in illegal wildlife. As a global carrier, Air Canada can play a
meaningful role in helping to prevent the devastating impact of the illegal wildlife trade. The airline recently signed the Buckingham Palace
Declaration and despite the disruptions of 2020, Air Canada Cargo has developed and introduced controls and procedures to reduce the
likelihood of transporting illegal wildlife and illegal wildlife products.It is estimated that the international illegal wildlife trade is worth
between $7 and $23 billion, and this evil trade affects more than 7,000 species every year. The commitments in the Buckingham Palace
Declaration include:
• Adopting a zero-tolerance policy regarding illegal wildlife trade.
• Improving the industry's ability to share information about illegal activities.
• Encouraging as many members of the transport sector as possible to sign on.
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CP (Canada) awards 2019-2020 Elevator of the Year in Canada and the U.S.
29
Canadian Pacific is proud to announce two winners of CP's Elevator of the Year: Viterra Gull Lake (Canada) and CHS
Northland Grain Hazel (U.S.). CP presents this award annually to the grain elevators that achieve high volumes from
a single loading point while consistently demonstrating efficient railcar loading and a strong commitment to safety. For
the 2019-2020 crop year, CP is recognizing elevators on both sides of the border.Viterra Gull Lake is located west of
Swift Current, Sask. and is a valued stakeholder and an integral network component to CP. The Gull Lake elevator
became 8,500-foot High Efficiency Product (HEP) train capable in early 2020.CHS Northland Grain at Hazel, Minn.
is located in the heart of U.S. grain territory. Their facility has the capacity to load up to 110-car trains that are sent to
both domestic and international markets.Grain elevators interested in this award should contact their CP account
manager for information on the eligibility criteria.
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DHL Express is one of the best workplaces in the world
30
DHL Express has been recognized as the second best place to work of all examined companies around the world. In its 2020 employer ranking
Great Place to Work® and FORTUNE recognized the extensive investments and implementations of various initiatives to create a positive,
motivating and appreciative working atmosphere in more than 220 countries and territories. Every year, Great Place to Work®, a global people
analytics and consulting firm, assesses the work experience of employees through their certification program. In 2020, more than 10,000
organizations participated in the survey process, representing the voices of 10.2 million employees in 92 countries.DHL Express annually invests
a double digit million Euro amount in its employees around the world. The company runs various HR initiatives to continuously improve the
working conditions of its teams: be it 'DHL4her', a program dedicated to supporting and developing women, DHL's Got Heart which enables DHL
to support the causes that its people are passionate about outside of work, or CIS, the 'Certified International Specialist' learning program which
offers various curriculums, equipping DHL Express employees with the knowledge that they need to be motivated to deliver the best quality
service for customers each day. Due to the remarkable efforts of the DHL staff during the Covid-19 pandemic, the company paid each employee
around the world an one-off bonus of 300 EUR and also branded a Boeing 757 cargo aircraft with the words 'Thank You' and a rainbow, expressing
appreciation to all essential workers whilst flying cargo routes across Europe.
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DHL Global Forwarding honored with four Gold 2020 Stevie Awards for
Women in Business
31
"Women at DHL Global Forwarding" a diversity initiative at DHL Global Forwarding, the air and ocean freight specialist of Deutsche Post
DHL Group, has been recognized for its achievements in promoting diversity in the workplace. The initiative has won Gold Stevie Awards in
four categories - winning organizational as well as individual awards. More than 1,500 nominations were submitted for consideration to the
jury.DHL Global Forwarding is the first freight forwarder being selected for such a high number of awards in one year. The categories
honoring DHL Global Forwarding are: Achievement in Developing and Promoting Women, Female Executive of the Year - Business Services
- More Than 2,500 Employees', Event of the year and Achievement in Human Resources. The initiative was awarded in the categories
'Achievement in Developing and Promoting Women' and 'Achievement in Human Resources'. The initiative's goal at DHL Global Forwarding
is to promote a cultural mindset with focus on equal opportunities by offering work arrangements, transparency, and career support. Align with
the cultural mindset, a new talent management program as well as mentoring and networking initiatives were implemented as additional
measures. The 'Women at DGF Virtual Learning Series' hosted once per month throughout 2020 were honored as 'Event of the Year'. The
series are offered to all employees and cover topics such as personal and career development at DHL Global Forwarding.
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MOL (Japan) Wins Crew Change Champion Award from Maritime and Port
Authority of Singapore
32
Mitsui O.S.K. Lines, Ltd. announced that it has received the Crew Change Champion Award at the Singapore Registry of Ships Forum 2020
(Note) hosted online by the Maritime and Port Authority (MPA) of Singapore on November 3. The award recognizes MOL's successful efforts
in implementing crew changes while taking thorough measures to prevent the spread of COVID-19 infection.Owing to COVID-19, many
countries have restricted entry and travel which severely affecting crew changes. Under this situation, MOL and its group manning company,
Magsaysay MOL Marine Inc. implemented enhanced measures to prevent infection in seafarers' home countries before they entered
Singapore, in cooperation with MPA, and implemented crew changes in Singapore while taking strict safety measures. The MOL Group
strives to ensure continual and stable crew changes with MPA in Singapore, which is one of its major calling ports.The MOL Group
implements appropriate crew changes while making COVID-19 prevention among seafarers as its top priority, while helping to maintain and
expand global economic activity through safe and stable transport services.the Singapore Registry of Ship (SRS) is Singapore’s ship registry
institute, established in 1966, and currently a division of MPA. Companies and organizations that contribute to SRS activities are awarded at
the annual SRS Forum.
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XPO Logistics (USA) Named Supplier of the Year by Owens Corning
33
XPO Logistics, Inc., a leading global provider of transportation and logistics solutions, has been honored as an Owens
Corning Supplier of the Year for 2020. Owens Corning cited XPO’s “creative and innovative solutions, with consistently
reliable service” when selecting the company from more than 100 supplier nominees.XPO has been supporting the Owens
Corning supply chain in North America since 2013 with a broad range of services, including less-than-truckload
transportation as a single-source provider. Additionally, XPO supports Owens Corning with truck brokerage, expedite,
intermodal, drayage and managed transportation services, and with warehousing solutions. XPO’s president of North
American transportation, said, “We’re honored to be recognized by Owens Corning for consistently delivering superior
results. Our long-standing partnership demonstrates the value of taking an integrated approach to supply chain efficiency
– in this case, with multiple transportation services and logistics support. This is truly a team effort.”
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XPO Logistics (USA) Wins Gold World Excellence Award from Ford for
Managed Expedite Performance
34
XPO Logistics, Inc., a leading global provider of transportation and logistics solutions, has won a Gold World Excellence Award
from Ford Motor Company for the quality of its managed expedite service in 2019. XPO has transformed Ford’s expedite network
in North America by implementing a technology-based solution for urgent supplier shipments.The Ford World Excellence Award
honors supply chain partners that deliver superior service quality, cost efficiency and innovation. XPO is Ford’s primary manager
of time-critical shipments from the automaker’s suppliers to its manufacturing plants, using proprietary software that automates
the transportation procurement process.This is the second consecutive year that Ford has recognized XPO as a top-performing
supply chain partner. In 2019, XPO received a Silver World Excellence Award from Ford for implementing innovations in
managed transportation.“We’re delighted to once again be recognized for outstanding performance by this prestigious customer,”
said president, transportation – North America for XPO Logistics. “Our team has a 20-year history of collaboration with Ford.
We take pride in our ability to respond under any conditions and provide mission-critical support.”
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AerCap (Ireland) Delivers a New Airbus A321neo to Sichuan Airlines
35
AerCap Holdings N.V. announced the delivery of a new Airbus A321-200neo aircraft, powered by Pratt and Whitney engines,
to Chengdu-based Sichuan Airlines. The aircraft is on a long-term operating lease from AerCap’s order book with
Airbus.AerCap is the global leader in aircraft leasing. AerCap serves approximately 200 customers in approximately 80
countries with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and has its
headquarters in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and
Toulouse.AerCap’s President and Chief Commercial Officer said, “We are very pleased to continue supporting Sichuan
Airline’s narrowbody fleet renewal. The Airbus A321neo aircraft will enable Sichuan to expand its short haul network more
economically, further enhancing its overall operations and advancing its commitment to maintain a highly competitive,
fuel-efficient fleet. We wish Chairman Li Haiying and all the team at Sichuan Airlines every success and we look forward to
working with them for many years to come”.
Description

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C.H. Robinson (USA) Delivers Solutions For Food Retailers Facing
Seismic Shift In Consumer Habits And Spend
36
Global logistics company C.H. Robinson is bringing supply chain expertise and technology to the aid of grocery retailers facing unprecedented demand and consumer
change during one of the busiest food shopping seasons of the year. With an analysis of USDA data projecting a $250 billion annual shift to food at home spend, and a
FMI report showing a 300% jump in online grocery sales, food retailers are contending with new challenges during an already busy holiday season. As a key service
provider to 50 of the top 75 grocery retailers in the United States and 90% of the top ten, C.H. Robinson’s specialized food retail logistics offerings are leveraging
technology built by and for supply chain experts, a global suite of services and new research on grocery shopping trends to help retailers adapt and execute against the
changing needs of its customers and the market.Through its single, global, multimodal platform Navisphere®, C.H. Robinson has been helping grocery retailers
accommodate demand surges, tight transportation markets and ongoing uncertainty since the outbreak of the pandemic. Now, it is applying that same agility heading into
the holidays, leveraging Navisphere to give retailers connectivity to inventory management services enabling quick order adjustments, access to industry leading retail
consolidation services and integration with multimodal transportation solutions with direct-to-store delivery. With 10 million square feet under refrigeration, 7.5 million
square feet of dry warehouse, six managed service centers and 175 different distribution centers across North America, the combination of localized warehousing at scale
connected to multimodal transportation options allows for a streamlined process down to the SKU level and gives retailers unmatched flexibility to meet consumers’
ever-changing demands. Additionally, if store shelves do sell out, C.H. Robinson supports retailers by providing fresh product as needed to ensure that consumers can
have that perfect pumpkin pie for their holiday.
Description

IT Shades
Engage & Enable
CP (Canada) announces strategic, multi-year rail agreement with A.P.
Moller – Maersk
37
Canadian Pacific Railway Limited is announcing a strategic, multi-year rail agreement with A.P. Moller - Maersk to move freight through
the ports of Vancouver and Montreal. The agreement is further to the September 15 announcement regarding the construction of a new,
world-class transload and distribution facility in Vancouver to expand CP's and Maersk Canada's supply chain options for customers.The
strategic relationship is expected to result in CP moving Maersk traffic on March 1, 2021 and applies to both dry and refrigerated cargo.
The rail agreement in combination with the previously announced transload facility show that CP and Maersk are committed to
sustainability across the supply chain, while providing effective and efficient intermodal solutions for customers."We are proud to provide
safe and efficient rail service to the world’s largest shipping company, and with Maersk we see a strong relationship developing,” said
CP’s President and CEO.” news coupled with the announcement of the Vancouver transload facility back in September are evidence of
the power of our operating model, our people and of our shared commitment to sustainable growth. Furthermore, our unique land
holdings and co-location opportunities, network advantages and commitment to service excellence continue to create win-win scenarios
and capacity for our customers and the broader supply chain.”
Description

IT Shades
Engage & Enable
DHL Express delivers first shipments from Israel to the United Arab
Emirates
38
DHL Express, has contributed to setting up trade between Israel and the United Arab Emirates as the first logistics
provider in the region to complete a shipment from Israel to the UAE. Trade between the countries has been set up since
September 15, after the recent negotiation of a peace agreement. The development further strengthens DHL's network
by connecting major hubs in metropolises such as Tel Aviv and Dubai.DHL became the first logistics expert to
successfully complete a shipment from Israel to the United Arab Emirates, with a very special delivery. After receiving
the official approval to initiate trade, Yair Biton, CEO DHL Express Israel, sent a limited-edition coin celebrating the
peace agreement to his colleagues in the UAE. The coin was stamped by the Israel Coins and Medals Corporation.
Description

IT Shades
Engage & Enable
DHL secures rolling contract with Nordic garden specialist Plantagen
39
DHL International Supply Chain, the supply chain management specialist within DHL Global Forwarding, has developed and implemented a transport
and supply chain solution for Plantagen. Plantagen currently operates 136 stores across Norway, Sweden and Finland, selling not only plants but other
items for gardens including lighting, soft furnishings and furniture.As part of the solution, DHL provides purchase order (PO) and item level visibility
from PO placement to delivery at Plantagen's warehouse in Sweden or directly to their stores in the Nordics. This service supports Plantagen's 'Direct
to Store' programme, ultimately resulting in improved efficiencies at destination and reduced costs within the overall supply chain. The programme is
managed by DHL on behalf of Plantagen to ensure vendors deliver as expected to ensure on-time departure of shipments.Electronic Data Interchange
(EDI) functionality is used to exchange data between Plantagen and DHL, which provides consistent and accurate data to all parties therefore enabling
better management of the Customs and Distribution Centre intake planning process. The overall solution is supported by a strong reporting suite that
allows Plantagen and DHL's account team to make proactive decisions and help maintain an efficient supply chain.Another notable part of this
partnership is that the whole process was completed virtually, with no face to face meetings taking place. From Day 1 of the engagement, all meetings,
presentations and discussions have been on the phone or through WebEx platforms, making this the first virtual implementation completed by DHL
International Supply Chain in EMEA.
Description

IT Shades
Engage & Enable
Kuehne+Nagel (Switzerland) successfully completes river shipping
transport for wind turbine manufacturer Vestas
40
Kuehne+Nagel Russia has successfully completed a challenging project involving the transport of 159 wind turbine blades. The
blades were transported on the Volga and Don rivers from Ulyanovsk to Ust-Donetsk and Rostov-on-Don.Vestas, a Danish
company and leading global manufacturer, seller, installer and service provider of wind power systems, produced the blades at
the Ulyanovsk manufacturing facilities, together with its Russian partners (Rusnano). The blades were transported in six voyages
of river pontoon barges between April and August 2020. Kuehne+Nagel ensured secure and on-time delivery of the oversized and
sensitive technical equipment, despite various restrictions and impediments caused by the Covid-19 pandemic.For decades,
Kuehne+Nagel has conducted efficient and environmentally friendly shipping on Europe’s inland waterways. As part of its
comprehensive logistics solutions, the company is using this mode of transport, which results in lower costs and reduced risk of
damage, for both regular container loads and demanding projects involving oversized and heavy-weight freight.
Description

IT Shades
Engage & Enable
MOL (Japan) signs Charter Contract for Three Ice-Breaking LNG
Carriers for Arctic LNG 2 Project in Russia
41
Mitsui O.S.K. Lines, Ltd. announced that charter agreements were signed for three icebreaking liquefied natural gas (LNG) carriers with LLC ARCTIC LNG 2, the largest
shareholder of which is PAO NOVATEK through a wholly owned subsidiary of MOL on October 28. The three vessels will be built by Daewoo Shipbuilding & Marine
Engineering Co., Ltd (Head Office: Geoje, Korea) and are scheduled for delivery in 2023. The vessels will mainly transport LNG from an LNG loading terminal on the Gydan
Peninsula in the Russian Arctic to the floating LNG storage units (FSU) to be installed at the transshipment terminal in Kamchatka (eastbound) and Murmansk (westbound) via
the Northern Sea route. Compared with MOL's previous icebreaking LNG carriers, which can only sail eastbound in the Northern Sea Route during mostly summer and autumn
period of time when the ice is thin, the new vessels will have a narrower width, hull form optimized for ice breaking, and an increased propulsion engine output which will
enable the vessels to sail east via the Northern Sea Route all year round. The combination of these ice-breaking LNG vessels, which can transport LNG to the FSUs in the east
and west throughout the year, and conventional LNG carriers that will transport LNG from the FSUs to their final destinations, will enable efficient year-round transportation
of LNG from the Russian Arctic to areas of demand, including those in Asia. The eastbound transportation route will reduce the distance of the voyage by approximately 65%
compared to the westbound route via the Suez Canal for Asian destinations, thereby making a significant contribution to a reduction of greenhouse gas emissions by vessels.
MOL has been engaged in transporting LNG using three icebreaking LNG carriers on the Northern Sea Route since March 2018 for the Yamal LNG Project in Russia. These
new contracts were concluded in recognition of MOL's proven track record and technical expertise in the Northern trade, and the experience and resources which the company
has built over many years of LNG transportation. These agreements are in line with the direction MOL declare in the Management Plan "Rolling Plan 2020", namely to
strategically allocate management resources in businesses where MOL is particularly strong.
Description

IT Shades
Engage & Enable
Partner Ecosystem Updates

IT Shades
Engage & Enable
Abertis (Spain) collaborates with IBM to develop more innovative, safer and
eco-friendly motorways
42
Abertis, a leading group globally in toll road management, has signed a three-year global partnership agreement with IBM to launch an Innovation
Garage, a program designed to co-explore and co-develop innovative ideas for improving road infrastructure management using technology. The two
companies are joining forces to help tackle future mobility challenges, which are mainly related to increased traffic, environment care and road safety,
in the countries where the Abertis Group is present. The projects being explored within this programme are aimed to find new solutions based on
technological resources, such as artificial intelligence, the Internet of Things and the Cloud, among others. They also aim to improve the customer
experience in Abertis’ toll roads, offering a safer, more comfortable journey as well as sustainable and tailored-made. To do so, Abertis has
cross-sectional and multinational teams, made up of professionals from Spain, France, Italy, Chile, Puerto Rico, Brazil, Argentina, India and Mexico.
For the time being, four projects are already under way: a continuous monitoring system to prevent the degradation of road pavements and optimise
road maintenance, a weather prediction system based on artificial intelligence to provide greater safety and efficiency during winter operations, a
barrier-less mobility support system, and the use of big data to offer customised solutions to customers and to expand free-flow systems. The Abertis
Group and IBM will work together to develop these solutions and analyse their feasibility to implement them in the short to medium term.
Description

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Engage & Enable
Alaska Airlines (USA) partners with Surfline to bring back 'Swell Deals'
43
After the popularity of its first "Swell Deals" fare sale in 2019, Alaska Airlines' data-driven deals are back, giving surfers everywhere one more reason to wish for bigger
waves. Starting, the airline is using dynamic ocean data to generate discounts for adventure seekers by partnering with global surf forecasting site Surfline. Based on the
height of ocean waves in Hawaii and northern and southern California, Alaska will discount flights up to 30% off for travel to premier surfing destinations through Feb.
10, 2021. The bigger the waves, the bigger the discount.
For flights booked between Oct. 20 and Oct. 23, for travel starting on Oct. 20, Alaska will discount fares based on the following max swell heights tracked by Surfline:
• 0-3 feet = 10% off
• 4-6 feet = 15% off
• 7-12 feet = 20% off
• 13+ feet = 30% off
This data will then be used for fare sales to these locations:
• The Hawaiian Islands
• California, including Santa Rosa (STS), Oakland (OAK), San Francisco (SFO), San Jose (SJC), Monterey (MRY), San Luis Obispo (SBP), Santa Barbara (SBA),
Burbank (BUR), Los Angeles (LAX), Ontario (ONT), Santa Ana (SNA) and San Diego (SAN).
Description

IT Shades
Engage & Enable
Alaska Airlines (USA) and Microsoft sign partnership to reduce carbon emissions
with flights powered by sustainable aviation fuel in key routes
44
Microsoft Corp. employees who fly between their global headquarters in Redmond, Washington, and California on Alaska Airlines will fly more sustainably
thanks to the use of sustainable aviation fuel (SAF) to cover their business travel. The SAF, supplied by SkyNRG, is an important option for the aviation
industry to reduce CO2 emissions on a life-cycle basis. This first U.S. partnership of its kind is a model for other companies and organizations committed to
reducing the environmental impact of business air travel. The agreement applies to CO2 emissions from Microsoft employee travel between Seattle-Tacoma
International Airport to San Francisco International Airport, San Jose International Airport, and Los Angeles International Airport — the three most popular
routes traveled by Microsoft employees on Alaska Airlines. Under a separate partnership agreement, Microsoft will purchase SAF credits from SkyNRG, and
the SAF will be delivered to the airport fueling system used by Alaska Airlines. The companies will explore expanding the program in the future.Microsoft,
Alaska Airlines and SkyNRG hope this partnership sets an example for other companies and organizations to purchase SAF, and support the development of
the SAF industry by creating a stable demand signal, increasing supply and reducing the cost of SAF. The three companies are also supporting the
development of a global environmental accounting standard for voluntary corporate SAF purchases through their participation in a pilot project of the World
Economic Forum’s Clean Skies for Tomorrow initiative. The companies plan to hold supplier and corporate forums to share learnings and increase interest
in using SAF to lower the carbon emissions from business travel.
Description

IT Shades
Engage & Enable
Deutsche Post DHL Group and German Federal Ministry for Economic Cooperation
and Development promote e-commerce in developing and emerging countries
45
Giving small and medium-sized enterprises from developing countries access to global markets - that is the goal of a cooperation between the German
Federal Ministry for Economic Cooperation and Development and the logistics company Deutsche Post DHL Group.Over the next few years, the partners
want to invest 30 million euros in the digitization of customs and trade processes, the promotion of e-commerce and low-emission logistics in cities. A
reduction of trade barriers through the use of digital solutions is to be tackled first in Morocco, Rwanda, Kenya, Ghana and the Ivory Coast. Trade barriers,
such as bureaucratic, non-transparent - and thus often corruption-prone - customs procedures, hit developing countries particularly hard and make it more
difficult for them to access world trade. BMZ and DPDHL Group will also continue their exchange on projects on green hydrogen and synthetic fuels.The
partnership is to be implemented primarily through the develoPPP.de program, through which the BMZ promotes entrepreneurial initiatives in developing
and emerging countries that contribute to sustainable development on the ground. DPDHL Group will bear at least 2/3 of the costs of all measures.The
agreement signed is part of DPDHL Group's new group-wide sustainability program "GoTrade". The program uses DHL's logistics expertise to help small
and medium-sized companies with cross-border trade. In cooperation with public sector partners, such as national governments and multinational
organizations, the program also initiates projects that help speed up customs clearance, reduce delays at borders and generally reduce the costs of cross-border
trade.
Description

IT Shades
Engage & Enable
DP World (UAE) joins forces with Expo2020 Dubai and is announced as a founding
partner of the Earthshot Prize
46
DP World together with Expo 2020 Dubai has become a Global Alliance Founding Partner of The Earthshot Prize, the most
prestigious environmental prize in history, incentivising worldwide change with a decade of action to repair our planet.The
Earthshot Prize has been established by Prince William and is an initiative by the Royal Foundation of the Duke and Duchess
of Cambridge.Taking inspiration from which united millions of people around the world to put a man on the moon, The
Earthshot Prize is centred around five "Earthshots". To protect and restore nature, to clean our air, to revive our oceans, to
build a waste-free world and to fix our climate. If the goals are achieved before the decade is out each will improve life on
earth for generations to come.Together they form a unique set of challenges, rooted in science, which aim to generate new
ways of thinking, as well as new technologies, systems, policies and solutions. Five prize winners will be awarded each year
for ten years. The aim is to provide at least fifty solutions to the world's greatest problems by 2030.
Description

IT Shades
Engage & Enable
JetBlue (USA) and Northwell Direct Partner to Provide Long-Term Health
Solutions to COVID-19
47
Northwell Direct and JetBlue, New York’s Hometown Airline, announced that they are partnering to provide the airline with a comprehensive set of COVID-19
services and programs to support its crewmembers (employees) across JetBlue’s operation and add a clinical layer to the airline’s Safety From the Ground Up
program. The customized set of solutions from Northwell Direct – a Northwell Health company that provides a broad range of health care solutions to employers
in the tri-state area – will support JetBlue as it considers testing approaches for its teams in New York City, clinical concierge services for crewmembers, and
consulting and advisory services for JetBlue’s leadership. The program, which is expected to evolve and expand based on needs, is designed to detect and prevent
COVID-19 and to aid in the recovery of the airline industry. The suite of services and the ongoing evolution of the program will collaboratively be designed by
clinical experts at Northwell Health, which has treated over 93,000 patients with COVID-19, and JetBlue’s leadership, and are based on science and the latest
medical knowledge around COVID-19 and the specific needs of the company’s crewmembers. Tests conducted as part of any JetBlue programs will be processed
by Northwell Health Labs, which has invested more than $30 million in COVID-19 testing equipment and supplies since the start of the pandemic – more than any
other hospital-based lab in the country.In addition, the program allows JetBlue to offer tri-state crewmembers 24/7 access to expert guidance and assistance with
questions or concerns about the virus. These clinical concierge services provided by Northwell Health Solutions, Northwell’s care management arm, if appropriate,
will also be able to provide fast and seamless navigation to care. These crewmembers will also have access to Northwell Health’s COVID Ambulatory Resource
Support (CARES) program, which offers hospital-level care in the safety and comfort of home.
Description

IT Shades
Engage & Enable
CMA CGM and MSC complete TradeLens integration and join as foundation carriers working
with the IBM and Maersk Shipping Platform to improve data sharing across the industry
48
Major global container carrier’s CMA CGM and MSC Mediterranean Shipping Company (MSC) announced they are now integrated onto
TradeLens, helping ensure a more fully integrated, timely and consistent view of logistics data for their containerized freight around the world. The
digital platform is run on IBM Cloudand IBM Blockchain and was jointly developed by IBM and A.P. Moller - Maersk.These two global shipping
leaders, together with Maersk, will act as platform foundation carriers with a role in expanding the ecosystem and platform operations, including
playing key roles as validators on the blockchain network.The addition of these two major global shipping leaders marks a crucial milestone for
the industry, which until now has too often relied on paper-based trade and manual document handling that lead to increased costs and reduced
business continuity. Maersk, MSC, CMA CGM and IBM, together with the expanding TradeLens network of terminals, customs authorities and
3PL and intermodal providers, are ushering in a transformation designed to benefit all network participants by making it easier to quickly and more
reliably share documents and shipping data and digitally collaborate.This completes a digital transformation that has taken more than a year,
requiring considerable investment in new API capabilities. An important milestone in the process was a 15-customer pilot involving more than
3,000 unique consignments, 100,000 events and 6,000 containers to ensure the TradeLens platform distributes and shares shipment data across
various supply chains with speed and accuracy.
Description

IT Shades
Engage & Enable
COVAXX and Maersk (Denmark) enter partnership to supply COVID-19
vaccines globally
49
COVAXX, a U.S. company developing a multitope synthetic peptide-based vaccine to fight COVID-19, has announced a global logistics partnership with Maersk, one of the world’s
largest shipping and integrated logistics providers. The agreement lays out a framework for all transportation and supply chain services that will be needed to deliver COVAXX’s
vaccine candidate UB-612 around the world, once approved by regulatory authorities. Financial terms of the agreement are not disclosed. COVAXX is developing UB-612 using a
high precision, synthetic peptide platform to activate both B-cell and T-cell arms. The investigational vaccine is designed to mimic natural biology and preclinical studies have shown
high immunogenicity and levels of neutralizing titers against SARS-CoV-2. The technology platform has been successful in commercializing blood diagnostics as well as safe and
effective vaccines for infectious disease in animal health and has been tested in numerous clinical trials for other indications to date. COVAXX is currently conducting Phase 1 clinical
trials of UB-612 in Taiwan and has an agreement with the University of Nebraska Medical Center to conduct Phase 2 trials in the United States, upon regulatory approval. The company
has advanced pre-commitments for over 100 million doses of UB-612 around the globe. In September, COVAXX announced an agreement with Dasa, the largest diagnostic medical
company in Brazil to conduct a large-scale human efficacy clinical trial in Brazil. The mission of COVAXX is to defeat COVID-19 and ultimately democratize health worldwide.
Maersk will help fulfill this mission by overseeing all logistics activities to ensure efficient transportation to developing countries. The agreement provides for end-to-end supply chain
management, packing and shipping, via air or ocean, ground transportation, warehouse storage and distribution to facilities to support COVAXX’s requirements for a pharmaceutical
grade, temperature-controlled supply chain. COVAXX is planning to manufacture 100 million doses of UB-612 during early 2021, and a billion doses by the end of 2021. The design
of the vaccine components will allow for the use of existing cold-chain storage and distribution channels, as the COVAXX vaccine does not require additional infrastructure such as
-80⁰C freezers or liquid nitrogen tanks to store materials at extreme temperatures.
Description

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New technology joint venture to transform rail shipping
50
Norfolk Southern, GATX Corporation, Genesee & Wyoming, TrinityRail, and Watco announced a venture to create a new technology platform that will help transform
rail shipping in the 21st century. The new venture, Rail Pulse, will facilitate and accelerate the adoption of GPS and other telematics technology across the North
American railcar fleet. The Commonwealth of Pennsylvania provided leadership in a successful Consolidated Rail Infrastructure and Safety Improvements grant
application. In addition to this Federal Railroad Administration funding, investments will be made by the Commonwealth of Pennsylvania and the venture members to
support the development of this platform. The Rail Pulse partners, who collectively own nearly 20% of the North American railcar fleet, are seeking to accelerate the
adoption of telematics to meet two specific objectives. The first objective of Rail Pulse is safety. Early phases of the platform will incorporate hand brake and impact
data, both of which could provide important safety data for the railroads, car owners, and shippers alike. Future telematics capabilities – such as onboard bearing
temperature and wheel impact detection sensors – are envisioned as the technology evolves. The second objective is to increase rail’s competitive position relative to
other modes by improving visibility into the status, location, and condition of individual railcars, which will meaningfully contribute to rail industry growth. Telematics
capabilities will include data capture to support real-time track-level visibility, whether doors or hatches are open, whether the car is loaded or partially loaded, and other
key performance metrics. The companies behind Rail Pulse are launching this venture for the benefit of the entire rail ecosystem: shippers, Class I railroads, short lines,
regional railroads, switching carriers and railcar operating lessors. Rail Pulse intends to provide a neutral, open-architecture, industry-wide railcar telematics platform to
make it easier to ship by rail and to track rail shipments across the North American rail network, all while ensuring the safety and security of proprietary car-owner data.
Description

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