We begin with news of a Houthi attack on the Liberian-flagged bulk tanker, Magic Seas, in the Red Sea, marking the first such incident on commercial shipping since December of last year. This attack, which occurred 51 nautical miles southwest of Hudaydah, Yemen, led to the vessel being set on fire and sinking, with its 23-person crew abandoning ship. 

UPS plans to offer voluntary buyouts to unionized drivers for the first time in their history, as part of an effort to eliminate approximately 20,000 frontline positions and increase profits. While drivers taking the buyout would receive a generous financial package and earned retirement benefits, the Teamsters union strongly opposes this plan, viewing it as an illegal violation of their contract's commitment to creating new jobs. 

In other news, DP World, a global ports and logistics operator, is seizing significant opportunities across Latin America, having recently opened a freight forwarding hub in Mexico City to support rising demand in US-Mexico cross-border logistics. The company has expanded aggressively in the Americas over the last two years, establishing 35 freight forwarding offices, including locations in Brazil and Toronto.

Finally, don't miss out on upcoming Freight Waves events, including a new episode of What The Truck?!? today at noon, with a replay on Road Dog Trucking at 6 p.m.. Also, remember to sign up for the Enterprise Fleet Summit on July 23rd and the Supply Chain AI Symposium on July 30th in Washington DC, both accessible for registration at live.freightwaves.com.

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