Data on producer prices shows that overall inflation pressure eased further in February, as a gain in goods prices was restrained by the service sector. Industry detail showed that overall trucking rates declined in February, led by the largest decline in long-distance truckload rates in four years.
Retail sales rebounded in January despite big declines in motor vehicle and gasoline sales. Gains in core sales helped to stabilize the retail sector during the month, erasing much of the decline from December 2018.
Market expert Dean Croke writes about the impact of Daylight Saving Time (DST) on drivers (particularly truckers) and the pros and cons of the energy saving rationale behind DST.
The FinEst Bay Area has secured a $17 billion financing for the world’s longest undersea tunnel between Finland and Estonia from a large Chinese private equity firm. This is yet another example of the Chinese interest in European infrastructure, a possible extension to their grand OBOR initiative.
Job growth fell well short of expectations in February, as the economy added the fewest workers to payrolls since 2017. Hiring slumped in several industries during the month, but trucking employment increased for the ninth consecutive month.
“The Marines have embraced this because it saves lives and makes them the most lethal, most effective fighting force the world has ever known.”
Talks between the U.S. and China have made significant progress over the last several weeks, and the two sides appear to be closer to a deal than at any time over the past several months. However, while the restoration of positive trade relations will help the trade outlook, other factors are likely to keep trade growth subdued going forward.
Asparagus from Mexico and California moves around the world as air cargo from Los Angeles International Airport.
FreightWaves executives discuss how futures mitigate risks facing carriers, shippers and intermediaries in spot trucking market.
Oregon business and philanthropic leader Peter Stott started his first trucking company in 1969.
Exports improve sequentially, raw materials price ease again.
A summary of the key developments in the U.S. economy over the past month and highlighted trends to watch in March.
For the second time in several weeks, Amazon has pulled out of a huge real estate deal many thought was a sure thing.
Owens & Minor is exploring a sale, according to sources reached by Reuters, on the heels of earnings that have disappointed investors.
Growth in the U.S. economy slowed further in the fourth quarter of 2018, but came in well above expectations to round out an impressive year of growth.
Political tensions in the Washington-Beijing bilateral relationship are making the China-based U.S. business community uneasy. Tariffs are being blamed for driving business confidence down, decreasing investment and for re-routing Asia-Pacific supply chains.
Sentiment could be growing for lowering the driver age, but questions linger over safety and wages.
The U.S. trade deficit in goods widened to a record in December 2018 as a sizeable decline in goods exports was paired with a jump in goods imports. This reversed the decline in the deficit from the previous month, and the drop in goods exports sent yearly growth into negative territory for the first time in over two years.
Delay in tariffs comes after a week of talks in Washington with Chinese officials; but the threat certainly good for volumes coming into Seattle.
Connecticut truckers say tolling proposal unveiled by new governor would hurt business.
Nothing is certain except death and taxes. And, apparently, vehicle recalls.
A new initiative aims to make half of the company’s shipments net zero (emissions) by 2030.
Positive Train Control isn’t just about safety anymore as the railroads revisit how the technology can generate capacity and save money.
Two major agencies see a supply/demand balance that is tightening on the back of steep cuts coming out of OPEC.
There were only ever two good reasons for Amazon to build a headquarters in greater New York City.
The largest Canadian freight brokerage purchased a 3PL concentrated in the Southeastern United States.
Retail sales tumbled by the largest amount in over nine years in December 2018, providing a disappointing end to what was otherwise a strong year for the retail sector. The 2018 holiday season ended up well below expectations, and introduces some fresh concerns about the strength of the economy going forward.
While polls show that more than two-thirds of New Yorkers support the plan, politicians at the state and local level poisoned the relationship, the company suggested.
ODFL spends money on aggressive capex building out its network of service centers and maintaining a low tractor-to-trailer ratio, as well as, increasingly, share buybacks.
Private equity has become the major player in financing the growth of transportation and logistics companies, and venture capital inflows have also accelerated dramatically.
Stifel’s head of equity strategy thinks the stock market will be weak for the next decade and that the federal government will default on debt unless it can force access into Chinese markets.
The twin goals are to address rampant oversupply and pave the way for immediate adoption of interstate commerce once marijuana becomes legal at the federal level.
Railroads – like trucking – will be focusing on solving the Highway Trust Fund problem this year. But could a Green New Deal become a competitive selling point?
Some $726 billion in annual spend on U.S. surface transportation faces daily price swings, but futures aim to mitigate the volatility.
Fleets participating in the TCA Profitability Program (TPP) gain access to benchmarking data that can help them improve operations.
Marten Transport and other public truckload companies could make a good stock investment if historical trends hold, says an analyst from Stephens.
Supply chain investments are helping retailers meet the inventory challenges of a growing market, the National Retail Federation (NRF) reported today in its 2019 retail sales forecast.
Saudi energy minister Khalid al-Falih announced on January 26 that the country is raising $426 billion in private sector investments, which will include roughly $36 billion for logistics infrastructure according to Reuters.
Upheaval caused by the U.S.-China trade war has some freight interests uneasy about giving Trump more tariff power.
New orders bounce significantly, raw materials prices fall.
The U.S economy added over 300,000 jobs in January, marking the best monthly performance in nearly a year. Transportation and logistics employment continued to increase at an impressive pace, led by healthy gains in warehousing, parcel and trucking jobs.
The monthly economic roundup is a summary of recent event in the economy and a guide for key trends worth monitoring over the next month.
Americans have become used to buying fruit and vegetables year-round. But it wasn’t always that way, and improved transportation is the key to year-round produce.
China has problems that go well beyond U.S. tariffs.
Apple’s manufacturing partner Foxconn Technology Group, which assembles Apple’s iPhone product in China, announced on Saturday that it has raised over $213 million for what it described as a “mega-development” in India.
Investors may be starting to come around to the idea that truckload carriers have another year of strong margins ahead of them.
New truck and trailer purchases currently include a 12 percent federal excise tax, adding tens of thousands of dollars to the purchase price. A new coalition is looking to lobby for the repeal of the tax.
Profitability will lag in high growth markets like Brazil and India, but aftersales services in NAFTA and the EU will drive profitability growth.
Despite the temporary end to the government shutdown announced late Friday, the U.S. Census Bureau failed today to release its report on manufacturers’ durable goods shipments, inventories, and orders for the month of December 2018.
As a slew of regulatory and tech changes hit the trucking and freight industries, the businesses that succeed will be the ones that are open to innovation — and surveillance.
Is 60 degrees hot or cold? Is the freight market hot or cold? The answers to both questions depend on perspective.
Port’s growing base of automotive and other shippers needs better way to move freight as traffic woes mean Charleston is ‘not as quaint.‘
One-quarter of carrier respondents to a new survey believe that driver pay will need to approach $100,000 a year before it makes a dent in driver turnover.
Financial transactions within the U.S. maritime sector – including vessel loans and project eligibility – are on hold waiting for an end to the government shutdown.
Lower WTI prices mean slower pipeline construction and more pressure on crude-by-truck.
Demand for trained workers is growing, but few educators know how to teach the fundamentals of logistics as it is practiced today.
For-hire truck tonnage posted its best yearly growth since 1998, but a decline in ATA’s Index at the end of the year indicated some softening.
The combined brokerage expects to do $200 million in revenue this year.
U.S. Xpress Enterprises is selling its interest in its Mexican cross-border operation, but the company is not abandoning the Mexican market, says its CEO.
Industrial production rose at a solid pace to round out 2018, helped by a jump in manufacturing activity during the month. The gain in output in December rounded out the strongest year for the industrial sector since 2010, and eased fears after a string of negative releases from manufacturing.
December was a month of growing uncertainty and severe declines in the U.S. financial markets. The only thing that seems to be growing is the level of ambiguity in everyone’s outlook.
In partnership with Slync… There are numerous reasons to be worried about the health of global trade and the goods economy, even though, in our view, a full-on macro-economic recession in the United States is still unlikely.
Surprise fees for practice that reduces congestion at ports and improves driver turns amounts to ‘dirty pool’ on part of the steamship lines.
Plus: Skewering Theresa May, B.C. rail investigations, California clean air program assessment
It’s a long road from the wellhead down to the fuel going into a truck. Who makes money along the way?
Chicago to Atlanta is holding up around $2/mile net of fuel, while lanes like Los Angeles to Dallas have crashed 40% off their November high.
Airbus (AIR: EURONEXT) broke ground for its new A220 manufacturing facility in Mobile, Alabama on Wednesday. The newest airliner in Airbus’ product line, the A220 is designed to revolutionize the market for 100-150 seat aircraft.
Simpson talks about legacy transportation companies adapting to change.
The United States is in the midst of a building boom for industrial space as the logistics market struggles to accommodate surging e-commerce demand.
Data on producer prices shows that overall inflation pressure calmed further in December, weighed down again by declines in energy prices. Industry detail showed that trucking rates continued to surge, however, driven by another large gain in long-distance trucking rates.
The market for lumber slowed considerably in the second half of 2018 as the Chinese economy lost momentum and trade disputes with the U.S. persisted.
Dry van rates hit air-pocket last month and lose altitude; but other indicators of freight economy still looking up.
New car sales should remain strong next year, said the National Automobile Dealers Association, but one group is warning of trouble on the horizon.
Economic and freight indicators are mixed, with some suggesting a downturn is coming, but others pointing to continued growth.
“You don’t want to start a trade war with China for the same reason you don’t fight a land war with Russia: They will ‘out-suffer’ you.”
U.S. Chamber of Commerce president Tom Donohue threw down $25,000 for ideas on how to pay for infrastructure. And told Washington to open back up.
A strong economy led to more CO2 emissions from industry and from buildings, offsetting the move away from coal.
Parliament amended the Brexit debate time table and demanded a new plan from Prime Minister Theresa May, making a ‘no deal’ Brexit somewhat less likely.
It’s that time of year; time to look forward and plan for the year. In order to have a better idea of where the economy and industry are headed, we always like to look back and review from where we came and what happened.
The first week of 2019 saw three of America’s largest companies announce revenue expectation reductions, signaling a potential cooling of the U.S. shipping market.
The U.S economy added over 300,000 jobs in December, marking the best monthly performance since February and capping the strongest year of hiring since 2015. The strength in job growth in December did not translate to the transportation and logistics sector, however, which was weighed down by job losses among parcel companies.
Supply and purchasing managers look for geopolitical clarity.
Senate confirmation of Patrick Fuchs and Martin Oberman could be catalyst for STB Chairman Ann Begeman to take action on pending shipper proposals.
China announced wide-sweeping changes to its import and export tariffs over the Christmas break; Australia-based expert China-watchers are divided as to Beijing’s motivations and what it might mean for Australia. Photo: Shutterstock.
Count universities among the for-profit and nonprofit organizations that are being reshaped by a certain e-commerce giant.
Freight clearance at border crossing at ports could be susceptible to backups and delays if Washington lawmakers are unable to resolve the funding crisis sooner rather than later.
Traders look at the ratio between gold and oil. What did it say in 2018?
Manufacturers’ new orders for durable goods posted a modest rebound in November, driven by a surge in aircraft orders. Orders excluding transportation fell for the second time in three months. This is the latest in a string of disappointing releases from manufacturing, raising some questions about the health of one of the key drivers of freight demand headed into next year.
The vote, with one council member abstaining, took place at 1:05 a.m. this morning.
The history books will say many things about 2018, but whatever else is recorded, it will go down as one of the strongest years for spot and contract pricing increases in the history of trucking in the U.S. Will that trend continue?
A pause for industrial real estate after a stellar run, JLL predicts.
Jurupa Valley, CA is building a badly needed truck stop. The locals don’t seem to want it.
Fervent hope and speculation in the West about forthcoming policy announcements by China failed to materialise yesterday in a speech given by China’s President Xi Jinping.
The vision for truck video systems goes beyond reducing one-time accident claims to creating more efficient, less risky fleets.
“The biggest takeaway is we’ve got a systemic labor problem. We don’t see a simple solution.”
Recent results show that retail activity continued to expand in November, in a sign that one of the key components of freight demand remains healthy at the end of the year. Results from the manufacturing sector were far less encouraging however, as activity stalled during the month.
How do you prepare for a seismic event experts predict will unleash the worst natural disaster in the history of the United States?
Data on producer prices shows that overall inflation pressure calmed in November, weighed down by declines in gasoline prices. Industry detail showed that trucking rates continues to surge, however, driven by another large gain in long-distance trucking rates.
As barge rates slump in the face of increased rainfall, the Central Commission for the Navigation of the Rhine (CCNR) has warned that Rhine River water levels could fall again in December.
Preparations by the freight industry to cope with the UK’s exit from the European Union (EU) were thrown into more turmoil by Prime Minister Theresa May’s decision to delay the Brexit debate indefinitely.
