Case involving 8,800 pounds of undeclared products highlights the long-standing practice of sneaking lower-priced U.S. dairy products across the border.
DHL, FedEx and UPS have dominated the global express market for years but recently, China’s express providers (including YTO Express, STO Express and SF Express) have been nipping at the […]
A deadly maritime accident has killed several people during a ship repair job in China. Accounts differ but it is clear that either eight or ten people are dead. A further 19 were hospitalized and are believed to be in a serious condition, but stable.
International Longshore and Warehouse Union begins “limited job action” and says it will not disrupt trade at Canada’s busiest port as contract talks continue with a federal mediator.
A no deal Brexit or remain are still on the cards in Britain as European elections polarise the electorate further.
A report indicates that the EU is slow to adopt alternate truck fuels. Indian logistics startups are flourishing. Chinese logistics firms that help Chinese businesses relocate are winners in the US-China trade war.
An explosion and fire that tore through a berthed container ship at the weekend caused 133 people to be hospitalized.
Trucker Jobandeep Sandhu is fighting his deportation from Canada after he exceeded the limit on his student visa.
Australia’s a big trucking nation, but you wouldn’t know it from the way some road users drive. Also in this week’s Down Under Trucking: carelessness not terrorism; fugitive truck driver; police and regulatory enforcement.
Planned walkout by 2,000 ILWU members at Global Container Terminals’ Deltaport and Vanterm facilities would seriously disrupt operations at Canada’s largest port.
The Chinese Belt and Road Initiative aims to create seamless freight movement between Europe and Asia, but the sustainability aspect of the project is still unclear.
On this special Memorial Day weekend edition of What The Truck?!? we have all the latest news in FreightTech, supply chain, and trucking – including a focus on Craig Fuller’s state of the industry report, Earnings Over/Under, On The Radar, Fast Paced Forecast, and some hot tips on how to spend your holiday weekend. All this and more on WTT?!? Subscribe now on Apple Podcasts, Spotify, Stitcher, or your favorite podcast player choice and never EVER miss an episode. No paywalls, no borders.
The race to become the new Prime Minister of Great Britain and Northern Ireland has begun with Theresa May’s announcement that she will stand down on the 7 June.
China’s ports have handled just under 4.3 billion tons of cargo between January to April. The country’s main seaports have also handled 82.3 million TEU.
A looming workforce supply gap in the freight forwarding sector has caused the industry to reach out to over one million high school students.
C.H. Robinson (Nasdaq: CHRW) added to its European business with the acquisition of an Italian truck brokerage. The Eden Prairie, Minnesota-based company announced it bought Dema Service S.p.A. Dema Service […]
Prime Minister Theresa May is clinging to power as another minister resigns and polls show that Tories will have a catastrophic European election.
A crew sailing off the coast of Singapore had a close encounter with pirates late last week, according to a new report from ReCAAP, the south east Asian anti-piracy center. […]
U.S. President Donald Trump is pushing ahead on the successor of NAFTA following the end of tariffs on Canadian and Mexican metals.
Market expert Cathy Roberson looks at how Amazon is using partners in both the U.S. and Europe to expand its operations in both regions.
Pilot with Alberta carriers aims to test the viability of fuel cells with heavy hauls.
Conservatives and Labour members rejected PM Theresa May’s latest attempt to get her Withdrawal Agreement through Parliament. The deal looked dead in the water, minutes after May’s speach.
Chinese shipping giant Cosco (HKEX: 1919) was last weekend given, for free, 45 percent of the equity of ports and shipping operator, Hainan Shipping Holding. Cosco’s not just getting a […]
Today on WTT we take a deep dive into the Idaho Hemp Trucker fiasco with journalist, Linda Baker, CEO Jacob Findlay has some huge news concerning FullBay, McLeod announces two new products, plus all the latest headlines, Big Deal, Little Deal, and the very first Comment Section Rodeo!
All this and more now on WTT?!?
A five-month drought in Panama has reduced freight carrying capacity of the country’s canal of ocean carriers by nearly one-fifth. It’s also giving an unseasonal boost to shipping rates for […]
Slower clearance times feared for trucks entering the U.S. after 731 officers reassigned because of migrant crisis.
Ever wondered where trucks go? Wonder no more. A massive telematics study tells us exactly how and where trucks move. Also: health and safety, daylight robbery, law reform and compliance.
Sub: Removal of levies on aluminum and steel end costly trade dispute – but both nations reserve right to resume them in response to dumping.
What The Truck?!? is sending you into the weekend with all of the latest headlines and top stories from FreightWaves.com, as well as Earning Over / Under, On The Radar presented by SONAR, Fast Paced Forecast, and so much more. Let’s bang a little cowbell for the weekend and celebrate the launch of WTT?!?’s expansion to two episodes a week!
Subscribe now on Apple Podcasts, Spotify, Stitcher, or your favorite pod player of choice.
To book a free a SONAR demo visit FreightWaves.com/SONAR
BW LPG, an ocean carrier of crude oil, gas, chemicals, and products of oil, has reported a first quarter 2019 net loss after tax of US$23.5 million. It’s a loss that’s about three times greater than the US$8.4 million loss recorded in the first quarter of 2018.
Chill winds from the Chinese economy have caused Australian freight forwarder Wiseway to downgrade its anticipated China/Australia freight volumes and earnings.
Transport committee recommends against passage of bill C-48, which would effectively bar crude shipments from ports north of Vancouver.
Hyundai Merchant Marine (KSE: 011200) started off 2019 much as it ended 2018, racking up losses. Despite a first quarter gain in volume that boosted revenue, fuel prices and finance […]
Colorful Auckland mayoral candidate John Tamihere has vowed to ban trucks from the city of Auckland during the day and sell the Ports of Auckland if elected.
What The Truck?!? hits the road this week as Chad and Dooner make tracks towards Birmingham, Alabama to cover McLeod’s Transportation, Finance and Accounting Conference. The guys talk with McLeod’s CEO Tom McLeod, VP of Ops David Custred, CFO Kasey Burleson, Chief InfoSec Officer Ben Barnes, and Buddy Moore Trucking’s CFO Susan Moore Kirkpatrick.
Members of Parliament (MPs) have indicated that they will vote down Theresa May’s European Union Withdrawal Deal for a fourth time after the Prime Minister said she would bring the […]
Among the topics to be taken up by this week’s meeting of ocean shipping’s international regulator will be how the industry can lower its carbon dioxide output. One increasingly talked-about […]
Singapore-headquartered liquefied petroleum gas and petrochemicals ocean carrier, Epic Gas (OB:EPIC-ME) today announced minimal losses of US$300,000 in the first quarter of 2019. That’s an improvement of 89 percent, which represents a U$2.4 million uptick from the losses recorded in the first quarter of 2018.
Yang Ming Marine Transport (TSE: 2609) narrowed its first quarter 2019 loss thanks to higher volumes of container shipments. The Taiwanese liner operator reported first quarter revenue of $1.14 billion, […]
Navistar was up 3 percent on Monday, May 13, 2019 and is up more than 8 percent in Tuesday’s trading.
Purchase expands network in British Columbia with firm specializing in long-haul moves for heavy-industry customers.
Support for the newly formed Brexit Party, led by the former U.K. Independence Party member Nigel Farage, has piled more pressure on British Prime Minister Theresa May as Conservative Party […]
The countdown for bringing Chinese goods into the U.S. ahead of new import duties is now underway. But it’s unclear whether the sequel will match last year’s container crush due […]
Specialist liquid-gas ocean carrier Navigator Gas evidently had a faulty compass in the first quarter of 2019 as it reported a $3.3m loss. The company attributed its results to geopolitical issues along with a variety of one-off incidents around the world. Together they tended to cause an oversupply of ships and a softening of rates in its niche-sector.
Deal gives Montreal-based specialty carrier a Gulf Coast base for future expansion into the United States.
Kuwait, Middle East-based logistics provider, Agility, generated consolidated revenues of 378.8 million Kuwaiti Dinar (US$1.25 billion) in the first quarter of 2019, the company reported today. That’s a 1.9 percent increase on the revenues generated in the first quarter of 2018.
Australian integrated logistics provider Qube (ASX:QUB) has acquired Brisbane-based crane-hire provider, mining-related logistics services provider and truck-operator LCR Group for A$135 million (US$94.14 million).
Logistics real estate continues to attract money from institutional investors all over the world.
Shipping’s ‘trade war’ equation is not measured in tons at sea, it’s measured in tons times miles at sea.
U.S. lawmakers weigh Arctic “St. Lawrence Seaway”
Vote by International Longshore and Warehouse Union Canada members ups the ante in contract talks by raising the prospect of a disruption at Canada’s largest port, Vancouver.
Brave driver rescues trucker from fiery death; hostile takeover; billions for roads; truck sales; pay truckers on time… or else!
European Union (EU) leaders met to discuss their plans for the next five-year period in Sibiu, Romania on 9 May, after the meeting the leaders released a statement with “The […]
Meeting the IMO 2020 sulfur regulation should not be a problem for owners when the regulation enters into force in January 2020 but making certain that the enforcement of the […]
Beijing has sworn to institute countermeasures to combat a huge increase in tariffs, from 15 percent to 25 percent, that have been imposed by Washington on $200 billion worth of a wide range of Chinese goods. A set of high-level, last-minute, talks yesterday to postpone or prevent the tariffs failed.
U.S.-based container ship operator Matson (NYSE: MATX) reported first quarter 2019 results that were above analysts’ estimates, thanks to strength in the company’s logistics business. The Honolulu-based Matson reported net […]
Third-party logistics and multimodal transportation services company, Radiant Logistics, Inc. (RLGT), reported earnings of $0.11 per share for the quarter ending March 31, 2019 (RLGT’s third fiscal quarter 2019), $0.04 […]
A Canadian National (NYSE: CNI) subsidiary has acquired the intermodal assets of Alberta-based H&R Transport, a company that specializes in the over-the-road, temperature-controlled service. The acquisition will expand CN’s presence […]
Manila, Philippines-based container terminal operator International Container Services International has posted a solid set of first quarter results. Revenues were up. Profits were up. Box lifts were up. The group attributed its good results to operational improvements, lower finance costs and a “ramp up” in contributions by its new ports.
Shipping container maker Singamas Container Holdings (HKEX:716) has announced that it will sell five of its subsidiary companies to Cosco Shipping Financial Holdings for RMB 3.8 billion. That’s about US$565 million.
Cervus Equipment (TSX: CRV) expects truck sales to rebound its Canadian Peterbilt dealerships as an order backlog improves during 2019. “The order backlog is a North American backlog,” CEO Graham […]
Canadian Pacific (NYSE: CP) and Canadian National (NYSE: CNI) both moved record volumes of grain in April, following a harsh winter that sometimes curtailed rail shipments. Canadian National said on […]
Members of the International Longshore and Warehouse Union (ILWU) in British Columbia will vote on authorizing a strike, setting the stage for potential disruptions at the Ports of Vancouver and […]
Eurostat, the statistical body of the European Union (EU), has released early statistics that show an overall decrease in the level of carbon emissions from industry in 2018 compared to […]
Growth of developing countries is disrupting trade flow; logistics job openings trump available workers; Starbucks is experimenting with blockchain for coffee supply chain traceability.
Australian ports recorded in excess of 1.94 million twenty foot equivalent (TEU) container movements during the first quarter of 2019. But freight forwarders sense a downturn may be about to happen…
Nikola executive Elizabeth Fretheim’s journey to a company developing zero-emissions trucks had an unlikely start in Canada’s oilpatch.
Domino’s Pizza has partnered with SingularityNET, to test decentralized AI services in an attempt to automate portions of its delivery operations.
Uncertainty around the ability of Theresa May to sustain her leadership remains a problem in the Labour Party’s Brexit negotiations with the Tories.
It’s been busy in Australian trucking. A hostile takeover bid has succeeded, subject to shareholder and regulatory approvals. An innovative Aussie manufacturer has invented a new kind of intermodal tanker for dangerous chemicals. This, and more, in Down Under Trucking.
Long thought of as a global exchange company for buying and selling securities, Nasdaq has used its marketplace expertise and technology knowhow to leverage itself into a partner and provider […]
Trade would sort itself out in the longer run post-Brexit, but it is hard to forecast when that would happen.
Saskatchewan’s highest court quashed a challenge to the Canadian government’s carbon tax, ruling that it was constitutional. The 151-page ruling by a majority of the Court of Appeal, released on […]
Government approval has been given for the construction of a $250 million (US$175 million) liquefied natural gas import terminal at Port Kembla, 44 miles to the south-south-west of Sydney, Australia. The country is facing a shortage of gas and record high prices, which is somewhat ironic because Australia is likely the world’s biggest exporter of gas.
Canadian transportation and logistics firm buys Ontario-based broker that uses propriety software platform.
Deal puts Canadian international trade services company in $13 billion portfolio of Tom Gores’ private equity firm.
Women In Trucking (WIT) has announced Bison Transport driver Treana Moniz as its 2019 May Member of the Month.
Aside from Lunar New Year slowdown, world’s biggest exporter reports ongoing volume growth despite concerns over trade slowdown.
Plus: WalMart opens transportation office; farewell to the Smart car.
Utility and telecom plays have been among biggest bets for Australian investment manager, but it’s also selectively added U.S. port assets.
Competitors agree on need to collaborate on common standards during Blockchain Revolution Global conference.
GDP declines by 0.1 percent, while unusually bad weather and lower commodity volumes lead to sharp drop in rail.
Paccar (NASDAQ: PCAR) reported record revenues and net income for the first quarter of 2019, beating analysts’ estimates on April 30.
Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11.4 percent better year-over-year, but less than the consensus estimate of $0.83.
Developing markets offer high growth, but high risk, as dispute between east African nation and Dubai firm forces Chinese ports operator to refinance loan.
Box shipping executives may allow themselves a small sigh of relief as the latest freight rates data shows that the recent decline in freight rates appears to have stopped. And, on some routes, it’s even marginally increasing.
Overseas Orient Container Line (OOCL) has sold its Long Beach Container Terminal for US$1.78 billion (HK$13.973 billion) in cash, it was announced today by OOCL’s owner, Overseas Orient International Ltd (OOIL; HKEX:0316). OOIL says that it expects to realize a gain of just under US$1.3 billion from the deal.
Canadian National Railway Company reported adjusted earnings per share of C$1.17 per share for the first quarter 2019, 17 percent better than the same period a year ago.
Legislation has been approved by the Washington State Legislature that could restrict the movement of crude oil via railroads. The bill is sitting on the desk of Gov. Jay Inslee (D).
Tokyo, Japan-based ocean carrier, Kawasaki Kisen Kaisha http://kline.com/ (TYO:9107) has recorded a fall in revenues of Japanese Yen of 325,293 million down to JPY 836,731 million (US$7.5 billion) for the fiscal year ending March 31, 2019. Several board members have been removed.
One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.
Chillicothe has a long history in the state, but in the past 45 years, it is the local Kenworth factory that has become an identifying centerpiece of this central Ohio town.
Canadian trucking company Bison Transport acquired all of the intermodal assets of Indianapolis, Indiana-based Celadon Group Inc. on April 26.
It was a truly shocking Easter on Australian roads with an appalling double-fatality in which a truck driver was incinerated in a head-on crash. Elsewhere, a drunk big rig driver faced an Australian court after driving backwards down a motorway and then jack-knifing his double-B into a gas station. Meanwhile, following a two-year study, Australian sleep scientists warned truckers that prolonged eye closure is a sign of drowsiness. And, finally, trucking corporations have been introducing new products, buying out shareholders and attempting hostile takeovers. It’s another week in Down Under Trucking.
Trans-Pacific volumes and revenue up with OOIL acquisition, but stand-alone results reflect seasonal weakness.
World’s largest operator of marine terminals saw first quarter throughput at its non-China-based assets grow faster than China-based ones.
Japanese transport company, Nippon Yusen Kabushiki Kaisha (NYK Line) (JPX:9101) has today reported a loss of approximately US$400 million (Japanese Yen 44.5 billion) for the year ended March 31, 2019. Following the red ink bloodbath, the company has replaced the chairman, president and representative directors.
South Korean ocean box shipping company, Hyundai Merchant Marine, and Russian far East intermodal box transport specialist, FESCO, have announced a series of changes to their Russia-China-Korea shipping operations. Rail specialist FESCO has also announced extensive Russia-China rail services.
Global freight forwarder Bolloré Logistics and productivity software provider WiseTech Global ASX: WTC) have done a deal to roll-out WiseTech’s core software across the forwarder’s global network.
Despite its takeover by ocean carrier, Swiss freight forwarder keeping it multi-modal with introduction of rail service from China to Europe.
