Auto sales are declining, but the National Automobile Dealers Association still expects strong sales for 2019, plus the one area where Amazon is losing and opposition to Canada’s carbon tax grows.
Canadian trucking company Bison Transport acquired H.O. Wolding Inc., or HOW, a 320-truck dry van fleet headquartered in Amherst, Wisconsin, on April 1.
The European Parliament has voted in favor of removing the daylight saving time across Europe, which is expected to come into effect by autumn 2021.
As the 2018 import overhang lingers for a while, box ship rates may also suffer.
Major Australian miners BHP and Rio Tinto have both revealed that they were adversely affected by the recent category four Cyclone Veronica and that they have suffered iron ore production losses.
Global mega-box port operator China Merchants Port Holdings recorded a 6 percent increase in its world box throughput in 2018 compared to the year before. The Hong Kong Stock Exchange-listed port operator revealed its throughput details while disclosing that it had generated revenues of HK$10.16 billion (US$1.29 billion) in its annual report.
Ports, logistics and finance conglomerate China Merchants Port Holdings announced a massive jump in operating revenues and a rise in profits for the year ended December 31, 2018. Hong Kong Stock Exchange-listed China Merchants, which operates box and bulk ports primarily in China but also around the world, reported revenues of HK$10.16 billion (US$1.29 billion). That’s a 16.9 percent increase on the previous calendar year’s figure of HK$8.7 billion.
Celadon announced late this afternoon that is was selling its A&S Kinard and Buckler Transport subsidiaries to Day & Ross, a wholly owned subsidiary of Canadian company McCain Foods Limited. Celadon is seeking to focus on core businesses and also refinance its debt obligations.
Aulick and ShirAul were “a compelling strategic fit for our Specialized Truckload growth objectives in the U.S,” says CEO Alain Bédard.
Surcharge to add thousands of dollars to annual cost for long-haul truckers. But will it help improve fuel efficiency?
OOIL fleet boosts Cosco’s volumes and revenue, but rates were stagnant and high finance costs push profit lower.
Down Under Trucking: a round-up of news, information and the latest developments from the Australian trucking industry. Top news this week is the announcement of a A$2 billion (US$1.4 billion) road safety funding package by the Australian Prime Minister, Scott Morrison. Funding was a big theme this week, as was driver safety, road safety and fatigue.
Increases in manufacturing and construction help GDP grow by 0.3 percent following slowdown at end of 2018.
One of the biggest terminals on the west coast is showing better results after multi-year automation project as final auction nears.
A major iron ore export port with 185 million tons iron ore capacity on Australia’s north west coast has been absolutely clobbered by the recent category four Cyclone Veronica, FreightWaves can exclusively reveal. Port Walcott’s operational ability is down by nearly 90 percent. Rio Tinto has declared force majeure to its customers. Major miner, Rio Tinto, which operates the port, is mostly staying silent. Dry bulk freight rates are likely to be hit, dry bulk sources say.
The European Union (EU) is looking to introduce several mandatory safety features in new vehicles from 2022, which would include technology that limits speed and cautions drivers on hazardous road conditions in order to reduce accidents due to speeding.
Railroad company must re-open Thunder Bay, Ontario, span to vehicles after lengthy legal battle.
Italy’s buy-in on major project boost China’s place in world maritime trade, but Western powers decry what some call ‘vanity project.’
Today’s Pickup: March 27, 2019
Canadian cross-border trucking and logistics firm to establish new business based in Charlotte, North Carolina, and plans additional locations in the United States.
Proposed legislation seeks to piggyback U.S. maritime industry to gas export boom, but bill lacks loan guarantees behind the ‘70s heyday.
Cross-border drivers like new wage structure, carrier executive says.
U.S. maritime’s economic contributions may be at risk if Chinese tariffs remain in place.
The debate over how many crew members should operate a freight train is back in the spotlight again as federal and state officials push to mandate crew size for the freight railroads.
There are plenty of conflicting data points on the direction of the economy, which might suggest that everything may be just fine in the near term.
OOIL and Yang Ming see better revenue growth, but bottom line results diverge as finance and fuel costs hit results.
Although it’s still early yet, there are indications that Cyclone Veronica may have adversely affected freight infrastructure along Australia’s north west coast – where some of the world’s largest iron ore export ports are located.
It was largely a further slide down the slippery slope for the Shanghai Shipping Exchange’s China Containerized Freight Index, week ending March 22. Rates on nearly all seaborne containerized routes were down compared to the week before. Rates were also largely down on the benchmark containerized routes as compiled by Drewry Maritime Advisors.
Canadian National (CNR) finalized its acquisition of trucking and transportation provider TransX, months after announcing plans to purchase the company.
Drone Delivery Canada’s expanded offering brings C$10 million – a month after announcement of long-range Condor model.
All ocean shipping, port and cargo operations remain shut at the world’s two largest dry bulk ports, Hedland and Dampier, owing to the passage of Severe Tropical Cyclone Veronica. Major liquefied natural gas export facilities along the north western Australian coast have also suspended operations. It’s the fourth consecutive day of suspended operations as Cyclone Veronica is moving very slowly. But there could be weeks of delay if Veronica soaks the landscape.
Accident that killed members of the Humboldt Broncos hockey team in Saskatchewan spurred efforts improve driver-training standards in country.
The Alaska-based family of companies does everything from shipping Alaskan seafood around the world to delivering mail and other essentials to remote bush communities via hovercraft.
Dry bulk shipping around the northern coasts of Australia has been suspended, ports have been cleared of ships and land side operations have stopped owing to highly unusual circumstances – two very large, very strong, cyclones, Veronica and Trevor, are about to hit Australia near-simultaneously.
Dry bulk shipping around the northern coasts of Australia has been suspended, ports have been cleared of ships and land side operations have stopped owing to highly unusual circumstances – two very large, very strong, cyclones, Veronica and Trevor, are about to hit Australia near-simultaneously.
Will cyberattack remain a drag on the company?
In partnership with Reliance Partners …If the DRIVE-Safe Act gets passed in the Congress, it would usher thousands of young drivers into the long haul trucking space. For them to have a long and successful career in the industry, it is critical for them to focus on body movement and the way they interact with their environment to prevent workplace injuries.
Proposal would boost incentives for greener fleets as industry bemoans forthcoming carbon taxes.
More than a foot of snow could fall in parts of New England at the end of the week. Winds could reach blizzard strength.
Israeli-based maritime startup Orca AI provides uses artificial intelligence and data analytics to prevent ships from colliding with obstacles while at sea.
GT Solutions, a transportation solutions provider based in France, is the latest member of the Blockchain in Transport Alliance (BiTA). BiTA is developing blockchain standards for the global transportation/logistics marketplace.
The Rhenus Group, a German-based logistics service provider, acquired Canadian logistics company Rodair this week.
Slow steaming is potential way for ocean carriers to meet higher costs of IMO 2020, but it carries risk of further service degradation.
Strong performance from Ontario-based Peterbilt dealerships reflects overall North American demand.
Good day, About $400 million in less-than-truckload business has gone elsewhere since regional carrier New England Motor Freight (NEMF) said Feb. 11 it would file for bankruptcy protection and subsequently […]
Comments by HEXO executive highlight difficulties cannabis producers face in getting product to consumers.
Record flood stages have been reached on some Midwest rivers after heavy snow, record winds hit the Great Plains.
International terminal mega-operator, DP World, has announced a solid set of results for 2018. Revenues, earnings before interest taxation depreciation and amortization (EBITDA), and net profit all substantially increased last year compared to 2017. Acquisitions and increased box volumes drove revenues and profits. DP World has announced investment plans for 2019.
Biofuels created by recycling used cooking oils are being tested by ocean-going ships in pilot trials around the world. Such biofuels may even be gaining acceptance by ocean-shippers, freight forwarders and ship operators.
Canadian transportation and logistics company searches for replacement of Kasia Malz, who helped guide mergers and acquisitions.
City’s construction boom helped fuel influx of steel to Canadian inland port.
International oil major BP has announced that it will retail a new very low sulfur fuel oil following successful sea trials, however, it has not released a date when sales will begin. The fuel will have a maximum sulfur content of 0.5 percent and will be sold by BP around the world. BP is one of several refiners, such as Shell and Sinopec, that are offering or are researching low-sulfur fuel.
The nominees have been announced and voting is now underway in the inaugural FreightWaves Shipper of Choice awards. The Shipper of Choice Award is in partnership with Convoy.
If the world’s fleet of 737 MAX 8 aircraft were to be grounded for some period of time until a fix is found, how much impact would that have on air cargo?
Panelists discussed current market data and how the TCA educates its members to operationalize data in their businesses.
Big ships come to U.S. even as backhaul cargoes still lacking, and truckers deal with terminal shut-outs and chassis imbalances.
Down, down, down – freight rates are down, nearly across the board, on export and import routes to and from China, according to indices published by the Shanghai Shipping Exchange.
International Container Terminal Services (ICTSI) has released solid results for 2018. The port and terminal operator, which is headquartered in Manila, Philippines, had an up-up-up 2018 compared to 2017. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.
Canada’s No. 2 auto parts maker sees growth surge in industrial manufacturing business.
Canadian-made Class 8 truck posts a 250-mile range and 25,000-pound maximum payload.
Destructive winds, heavy snowfall in the Great Plains will slow down truckers, disrupt supply chain for a couple days. Up to a foot of snow, winds reaching 60 mph.
Over the last several years, Columbus Rickenbacker airport has emerged as a key and growing alternative U.S. gateway for international air cargo.
Member of THE Alliance is latest ocean carrier to experience financial difficulty amid a still volatile rate environment.
Navistar International Corporation’s first quarter revenues bounce on orders for new truck designs and a strong performance in the spare parts business.
This February was brutal in parts of the Midwest. One city reported more than 50 inches of snowfall. Weekend blizzard to add more.
Trade ministers from Indonesia and Australia signed a new free trade agreement (FTA), the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), in Jakarta, Indonesia, on March 4. The new agreement eliminates nearly all tariffs on the two-way trade in goods between the two nations. A wide variety of non-trade barriers will also be removed.
With female representation among truckers at just three percent, industry looks for ways to close gap.
Export weakness, geopolitical uncertainty weigh on demand.
A maritime labor-supply demand gap is opening up in Australia as its marine workforce is old and getting older, according to a new report from local domestic trade association Maritime Industry Australia. Worse still, there are fewer and fewer young people entering the local maritime industries.
Canadian transportation and logistics firm may add as many as 68 new trucks and 160 trailers to its fleet this year.
Freight rates for biggest ships fall below those of smaller ships, but that is set up for rebound, market experts say.
Fourth-quarter revenue at the cross-border transportation and logistics company increased by 20 percent.
Soren Skou said biggest ocean carrier is more customer-centric than ever, but vessel reliability and detention fees still a pain for customers.
Biggest trade lane into North America saw price surge last year that may not ease up much as double-digit increases seen in rates for 2019.
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.
GrainCorp, an agribusiness and bulk-ports operator, has agreed to sell its Australian bulk liquid terminals business to independent bulk liquid storage company, ANZ Terminals, for about AUD$350 million (USD$248 million).
Refineries and supply chain not ready for ocean shipping’s uptake of new fuel; even heating oil prices possibly in play during election year.
Canada’s largest port handled 147 million tons of cargo during 2018.
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.
Transportation-as-a-service will have a huge 2019, and Lyft is kicking it off.
Lower investments and exports help push down Canadian GDP growth to lowest level in more than two year.
Flashback Fridays previews the soon-to-open Freight Alley Haul of Fame and showcases four trucking companies that contributed to the history of trucking.
Liner alliances in a quandary about what to do with largest capacity ships as cancelled port calls increase to deal with capacity glut.
In announcing of giant revenues and super-massive dividends, Australian mining colossus Rio Tinto delighted markets, shareholders… and maybe even roboticists too!
Australian miner Rio Tinto generated over US$12 billion (all figures in U.S. dollars) from its bauxite, alumina and aluminum production in 2018. It predicts about 67 million tonnes production of bauxite, alumina and aluminum this year. These minor bulk commodities are significant seaborne cargoes.
UPS provides fulfillment, shipping for SMBs using e-marketplaces.
Alain Bédard says Canadian transport giant expects growth and acquisitions to continue on both sides of border.
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.
Canadian TFI saw revenues and income surge in its truckload segment, while margins improved.
U.S. and Canadian officials are negotiating an end to the costly import levies, which have wreaked havoc on cross-border supply chains.
A series of company earnings from New Zealand shows that the international maritime trade to and from the Pacific archipelago is largely strong, especially for the bigger ports, but the smaller ports have experienced some downturns in trade.
Acquisition of bulk transporter will grow Canadian TFI’s tanker presence in the United States.
Crawford’s mission is to secure large enterprise customers, grow the company aggressively, and prepare for the next stage in the venture capital cycle.
Truck stop-travel center operator returned to core business in q4, CEO said.
Worldwide customs and logistics software provider WiseTech Global has today announced the acquisition of Containerchain, a provider of a shipping container tracking and managing systems for AU$92 million (just over USD$65.8 million) in cash.
Global logistics player, Toll, has officially launched two new roll-on, roll-off (ro-ro) ships for the carriage of trucks and containers across the Bass Strait between mainland Australia and the island of Tasmania. The first commercial sailing begins in a few days on March 1. FreightWaves reviews the vessels in detail, describes the local wharf upgrades and analyses the Bass Strait trade.
U.S. private equity firm Platinum getting Canada’s largest customs broker for undisclosed sum
Microdea is an Ontario-based company that digitalizes documentation and automates back office processes to make them more efficient, seamless, and less wasteful.
Jack Cooper Transport Company has announced its intention to stop yard management operations and lay off 425 employees at its Louisville, Kentucky terminal.
