Running on Ice: Miami takes giant leap in fresh‑food logistics with $141M cold chain hub
Set to open in 2027, the sprawling 340,000‑square‑foot complex, about six football fields in size, will boost MIA's cold storage capacity by 50%, adding around 1.5 million tons per year of refrigerated space. Eighty percent of the facility will be devoted to temperature‑controlled cold storage, with the remainder serving as cutting‑edge treatment zones. Notably, 20% of the space will feature USDA‑certified, non‑chemical pest‑control technology that relies on electron‑beam pasteurization, allowing quicker inspections and better fruit quality by replacing dated fumigation methods.
This capital injection follows a July 2024 lease approval for a four‑story freight terminal, which is expected to handle an additional 2 million tons of cargo through PortMiami. With MIA handling a record 3 million tons of cargo in 2024, including 90,000 tons of floral imports for Valentine's Day alone, the need for modernized storage and plant health inspections has never been greater.
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The post Running on Ice: Miami takes giant leap in fresh‑food logistics with $141M cold chain hub appeared first on FreightWaves.
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The Hill
3 hours ago
- The Hill
Republicans move to clear final hurdles to funding bill before recess
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CBS News
6 hours ago
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Michigan joins over 20 states in suing USDA over access to SNAP food stamp recipient records
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Skift
8 hours ago
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Royal Caribbean's passengers are definitely spending. Its plans to improve how its loyalty program and co-branded credit card reward guests may fuel future growth. Royal Caribbean Group said that booking rates have accelerated since April, driven by last-minute reservations. 'Our second quarter results exceeded expectations mainly driven by stronger-than-expected close-in demand,' said CEO Jason Liberty in an earnings call. 'Bookings have accelerated since the last earnings call, particularly for close-in sailings.' The company delivered over 2 million vacations in the quarter, a 10% increase year-over-year. Half of its customers were millennials or younger. The results let the Miami-based cruise giant raise its annual profit forecast on Tuesday, banking on resilient demand for its luxury destinations as the cruise operator reported its second quarter with the highest margins in about 20 years. 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In late 2027, it will debut Perfect Day in Mexico, a private destination that's approximately the size of the Magic Kingdom in Orlando in footprint, though with much fewer guests. Getting Better at Upselling Royal Caribbean has proven adept at getting customers to spend beyond their initial cruise fare. Onboard and other revenue rose 9.5% to $1.3 billion in the quarter. Guest spending onboard the ships and pre-cruise purchases are still above the prior year's levels despite higher overall pricing. 'Customers who purchase onboard experiences before their cruise spend about 2.5 times more than those who do not buy pre-cruise,' Liberty said. Results Net income was $1.2 billion, up from $854 million. Total revenue grew 10.4% from the same period a year ago to $4.54 billion. Net yield grew 5.2%, outpacing the company's projections by 70 basis points. For 2025, the company expects net yield growth between 3.5% and 4%, supported by new ships and continued success at its private destinations. 'Looking back on the 1H, our data indicates that cruise operators held prices throughout March/April and moderated pricing only marginally for the 4Q/1Q during May/June,' wrote Brandt Montour in a report for Barclays. 'Nothing wrong with cruising, for right now. But the key is: for right now. Royal Caribbean seems to be a bit more cautious about Q3, said Tracey Ryniec, stock strategist at Zacks Investment Research. 'They are not allotting for further yield growth, even though it may happen.' Royal Caribbean Group CEO Jason Liberty will speak on stage at Skift Global Forum in New York City in September. Royal Caribbean CEO's Premium Push: Better Pricing, Shorter Cruises, Younger Passengers Royal Caribbean Group's CEO Jason Liberty has a strategy to push his customer base upmarket. Liberty believes there's more willingness among consumers to pay more for premium leisure travel than previously assumed. Read More What am I looking at? The performance of cruise and tours sector stocks within the ST200. The index includes companies publicly traded across global markets including both cruise lines and tour operators. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more cruise and tours sector financial performance. Read the full methodology behind the Skift Travel 200.
