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.
Canadian firm’s transportation segment shines as oil services shows signs of recovery.
CEO Alain Bédard says acquisition will invigorate Canadian firm’s U.S. last-mile business.
Korea’s only remaining container ship line may want to go beyond its slot sharing deal, but Western carriers wary on subsidized shipping.
Canadian transportation company reports strong performance across businesses following record 2018.
Three states and several utilities will study the needs of electric trucks along the I-5 corridor to make long-haul electric trucks a reality. Plus, the future of Cummins, flex fuels, and are the Chinese taking our railway jobs?
Online retailer ramps up warehousing and ocean freight presence as part of meeting tight delivery window demanded by customers.
Pay hike include Port of Vancouver drivers, who went on strike five years ago.
Volvo Trucks North America recalled 14,009 2018-2020 VNL and VNX heavy-duty trucks because the adhesive bond between the glass and hinge of the sleeper bunk window may detach and fall from the vehicle.
Add Ohio and Washington state to the list of states where leaders are debating whether to require freight railroads to have at least two crew members per train. Ohio and Washington state legislators have introduced bills this spring mandating a minimum crew size for freight trains. Washington state’s bill takes the debate one step further by also defining how many crew members should be operating a train that’s carrying crude oil.
Cathy Morrow Roberson explains what makes Miami International Airport (MIA) special, and what the airport, airlines and air cargo companies are doing at that particular facility to facilitate cargo. Learn more about MIA in this article.
Fleets are rapidly deploying video solutions, finally convinced of their benefits, and Trimble is one of the companies benefiting from this.
Lighter loads through Panama Canal and schedule reliability are two effects hitting ocean freight; ‘We should not underestimate weather.’
The “e-Commerce Revolution” is the hot topic for the upcoming CNS Partnership Conference next month in Miami. FreightWaves interviews CNS President Michael (Mike) White for an inside look at the e-commerce challenge for the air cargo industry and how the conference will tackle it.
Markets are tightening. Full implementation of sanctions on Iranian oil could make them tighter.
Ottawa aims to protect domestic businesses from high costs of tit-for-tat trade dispute with Washington.
What the Truck is going on in all things freight this week? Weekly Market Update: J.B. Hunt misses analysts’ first quarter earnings and revenue estimates. Truckload carriers’ first quarter results don’t appear to be in jeopardy after the J.B. Hunt report. Marten Transport reports best-ever net increase of more than 30 percent in first quarter of 2019. What gets hauled to Vegas, stays in Vegas.And then on to the freight tech headlines of the week.
Australia’s import, export and logistics industries are in dismay at a massively escalating series of surcharges that are being unilaterally charged to truckers and shippers by the nation’s main box terminal operators. There have been hikes in surcharges of hundreds of percentage points. And, in one case, an imposed surcharge was literally increased over a couple of years by 2,372 percent. Industry executives are furious.
There has been a steep drop in the volume of box traffic handled at Hong Kong, one of the world’s busiest box ports. Containerized throughput at Hong Kong took a dive in the first three months of 2019 when compared to the first quarter of 2018, according to preliminary figures from the Hong Kong Marine Department. Box traffic was down, on average, by 10.2 percent in the first quarter of 2019 compared to the first quarter of 2018.
Marc Bédard, founder and president of Lion Electric, discusses the Canadian-made Class 8 and its promises of winter performance.
Datapace is the latest company to join the Blockchain in Transport Alliance (BiTA). Learn more about Datapace and BiTA in this article.
FreightWaves puts Singapore, the world’s second-busiest box port, under the microscope – examining box throughput, general cargo, bulk oil, non-bulk oil and ship registries.
Deal will grow U.S. last-mile business and add $100 million in annual revenue, Canadian transportation firm says.
If you can get your hands on a Nikola Two hydrogen-electric truck in the near future, it could save you money compared to a diesel model, the company said. Getting one, though, will be hard due to early demand.
LA caught between straits of labor and capital; group looks for ocean freight’s Esperanto; and digital-first forwarder gets $20m funding.
Nikola Motor envisions a world that is better off tomorrow than it is today, and it starts with a zero-emission future, the company said, as it introduced five emissions-free vehicles, including two semi trucks.
Canadian National (NYSE: CNI) plans to appeal a determination by a federal regulator that the railway breached rail service obligations last fall at the congestion-prone Port of Vancouver.
P&S Transportation added Celadon Logistics to TA Services, its asset-light brokerage.
Nikola Motors has the potential to disrupt the freight industry by building hydrogen fuel powered trucks and by setting up hydrogen fuel stations all across North America.
Ottawa plans to fight decision over how Washington calculates anti-dumping levies as trade tensions continue.
World’s largest ocean freight forwarder adds money-back guarantee and carbon offset to what is now considered ‘table stakes’ in ocean freight.
Air cargo volume in Europe continues to decline. Read market expert Cathy Morrow Roberson’s take on the reasons why this is occurring and if there are options available to improve the volume.
With first quarter 2019 earnings set to kickoff on Monday, April 15, FreightWaves is looking at expectations for the transportation stocks.
Down Under Trucking: a weekly round-up of trucking news from Australia. The country has been struck by a spate of horrible crashes of trucks with multiple trailers have rolled over. On the corporate side, a major trucking-related hostile takeover has broken out. Politicians in Queensland are seeking to modify the Heavy Vehicle National Law and, on the commercial front, truck sales appear to be coming off the boil from last year’s red-hot market.
Delays could extend to U.S.-Canada as customs personnel are relocated to deal with immigration on the southern border.
What The Truck?!? episode 63What the Truck is going on in all things freight this week? Our focus this week is on regulatory moves, final mile and LTL, and updates in freight tech and capital investment. This week Ellis Smith joins Chad Prevost in the studio while JP is on assignment in Orlando covering the TIA Conference.
Marc Moncion of Fleet Complete predicts forthcoming regulations will ensure a stronger vetting process for electronic logging devices than in the U.S.
Don’t underestimate Mother Nature. Numerous truck drivers in the Midwest lost control while moving through a major snowstorm Thursday.
The grounding of all Boeing 737 MAX aircraft has caused many problems; it has also created an opportunity for freight forwarders. Read a market expert’s take on the situation.
While tariff fight may not repeat itself, other factors that lead to drayage capacity crisis still in play for shippers this year.
Executive orders aim to foster oil and gas permitting, but Trump’s own trade policies also put kibosh on rapidly growing export markets.
Keelung, Taiwan-headquartered ocean container carrier Yang Ming has announced that it signed charter agreements on April 10 for four box ships of 11,000 TEU with ship-owning specialist Shoei Kisen Kaisa of Imabari City, Japan.
When freight rates are terrible, even a slight improvement seems like an uptick. But a terrible market is still a terrible market. Capesize rates have marginally, slightly, improved… but they’re still dreadful. And the rest of the dry bulk shipping markets are doing their best to impersonate a submarine… they’re all steadily sinking. Ship scrapping that removes some excess tonnage may help rate recovery.
Pork and wine among the potential targets as Ottawa looks to step up pressure over steel and aluminum levies.
Year-to-date rail volumes for every commodity except petroleum and petroleum products slumped last week in the United States, according to the Association of American Railroads.
Could this be the year ocean carriers get shippers to pay up? It may be if they want a ‘get-on-the-boat rate’ and not just a ‘paper rate.’
sennder has raised investment to expand its digital freight markeplace footprint across Europe.
Isuzu with partners Supreme and Delivery Concepts have introduced a truck body designed for craft brewers, complete with taps. Plus, ports seek alternative fuels, concerns over fracking, and Walmart pressures suppliers.
Truck Parking Europe displays more than 34,000 parking spaces across Europe, and has over a million downloads on its smartphone application.
Outlook for U.S. container imports back to normal levels after 2018’s pre-tariff front loading, but with this administration, you never know.
Australian mining giant Rio Tinto has admitted that there was a fire that damaged some of its iron ore export facilities at the port of Dampier last weekend. This story also includes a production losses update, a current cyclone weather update and an iron ore market analysis.
Firms whose trucks operate in Ontario, Manitoba, Saskatchewan or New Brunswick face penalties if they fail to register with Canada’s federal tax agency.
Geotab, one of the world’s largest suppliers of sensors for commercial vehicles, today announced that it has signed an agreement to acquire BSM Technologies.
Matilda is a smart transport hub that helps the elderly and the disabled people by providing real-time information on the schedules of their public transportation, mainly targeted at autonomous vehicles of the future.
Around the world, consumers are clamoring for more seafood. Read how airlines and airports are working to move more seafood more quickly around the world.
EXCLUSIVE: a fire at the Port of Dampier has seriously damaged iron ore miner and exporter Rio Tinto’s facilities. Iron ore exports from Dampier are likely to be severely disrupted. Iron ore prices will come under pressure, sources say, adding that dry bulk rates will “fall through the floor”.
Australia’s maritime officials are keeping a wary eye on the oceans around north west Australia as Cyclone Wallace menaces the Pilbara-region coastline. The harbour master for Port Walcott directed that the port be cleared. However, it was a narrow miss for iron ore export facility, Port Walcott, as the cyclone swerved away. And so the harbour master cancelled the direction to clear the port. Iron ore exports are, nonetheless, likely to disrupted. But it’s not over yet as, to the north east of Wallace, a “tropical low” is threatening to build up into a cyclone too.
Shipping conglomerate looking to find its focus as other shipping companies have already focused on core businesses.
Down Under Trucking: a round-up of trucking news from Australia. Top news this week: revealed – how trucks have accidents in Australia; a new in-depth government inquiry into trucking and transport. And, finally, how one truck driver thought he was being pranked… but, in reality, he was winning BIG!
What the Truck is going on in all things freight this week? Weekly Market Update: Survey data shows upcoming improvement in manufacturing, softening service sector, U.S. rail volumes dip as carriers grapple with flooding impacts. War on Detention update: Specialty stores and electronic retail tops the list for longest dock times, And then on to the other big headlines of the week: ICONIQ Capital invests in Truckstop.com at $1B valuation, White House: Trump would let trucks cross Mexican border if it closes, Providence Equity buys GlobalTranz back from The Jordan Company after just 8 months, Stock stumbling, Lyft announces $50 million in transportation initiatives.
This year, Brie Carere became the first woman to serve as Chief Marketing and Communications Officer (CMCO) at FedEx. Now, as CMCO and Executive Vice President, Carere is using her position to promote diversity and inclusion at FedEx.
Ports operator Cosco Shipping Ports (CSP) (HKEX: 1199) has agreed to build a 254,000-square metre (2,690,978-square feet) logistics park in the city-agglomeration of Guangzhou, which has a regional population of at least 64 million people. Guangzhou is one of the world’s busiest box ports with a throughput in 2018 of 21.92 million twenty-foot container equivalents (TEU).
The funding is expected to increase the use of electric cargo bikes to fulfil last-mile deliveries, which will help reduce congestion and pollution on the English streets.
Breakout List curates a list of startups that have a high possibility of success, thus making it easier for startup-inclined people to choose a company they would want to work in.
Pre-tariff front loading to the U.S. and seasonal slowdown contribute to weakness in ocean freight rates from world’s largest exporter.
Oil giant ExxonMobil (NYSE: XOM) has announced a multi-billion dollar upgrade of its Singapore integrated manufacturing complex to convert more fuel oil and other “bottom-of-the-barrel” crude products into higher value lube base stocks and distillates. The upgrade will also increase the capacity of the facility to produce an extra 48,000 barrels per day (b/d) of low-sulfur fuels to meet the International Maritime Organization’s 0.5 percent sulfur regulation (IMO 2020), which goes into effect on January 1, 2020.
The facility will be capable of producing approximately 1.2 million tons of steel plate products per year. Nucor expects the plant to be fully operational by 2022.
Canada’s 36M people live across 3.8M square miles. The country is looking to drones to make faster delivery possible.
Canadian customs brokerage and BiTA member participates in pilot program of system developed by Maersk and IBM, involving Canada Border Services Agency.
Toronto firm courting couriers as it expands beyond pilot projects.
More refiners make pledges to supply market for IMO-compliant fuel, but if those efforts fall short, diesel may be next best option.
Brisbane, Australia-based construction company Watpac has been contracted to provide design, engineering and construction services to EPIK, a South Korean liquefied natural gas (LNG) developer for the construction and placement of a floating storage regasification unit (FSRU) at the Port of Newcastle in New South Wales, Australia. Watpac is a subsidiary of Belgian multi-disciplinary engineering company, Besix.
Canadian National (NYSE: CNI) laid out plans to invest C$615 million this year in network infrastructure in eastern Canada amid wider efforts by stakeholders to revamp Canada’s transportation infrastructure and support the nation’s export markets.
Spanish logistics provider ChainGO Tech has joined the Blockchain in Transport Alliance. Read why the company joined the Alliance and what it hopes to achieve with its membership.
U.S. and European freight railroads are very different in many respects. Market analyst Jim Blaze gives insights about how the two systems differ.
Australia’s Competition and Consumer Commission (ACCC) has handed out a smack-down to the three main longshoremen companies in Australia, which were using their oligopoly market power to impose unfair terms on trucking companies. The stevedoring companies involved are DP World Australia, Hutchison Ports Australia and Victoria International Container Terminal.
The Canadian Transportation Agency (CTA) is seeking public comments on amendments to regulations that govern the rail rates that Canadian National and Canadian Pacific set for hauling grain in western Canada.
Canadian firm nets C$100 million from deal with Saskatchewan bulk transportation company.
