News

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 […]

Executives at GasLog Ltd. believe the LNG shipping spot market is set to rebound. Others are not so sure.

One of the best ways to visualize these tariff-driven effects on the truckload market is to compare the amount of outbound tender volumes with the amount of outbound tender rejections in Los Angeles, CA and Savannah, GA.

The agency on Thursday released its strategy for 2020-2025 in which it highlighted predictive analytics as a potential tool for trade enforcement.

Bills in state legislature to limit containerships calling Houston could “crush” economic growth, say International Longshoremen’s Association and USMX.

Connecticut Port Authority partners with wind energy company Ørsted and the electric utility Eversource on $93 million of improvements in New London.

Honors also go to Abdullah Aldubaikhi, Rich Cooper, Robinson carriers, Dayton Freight, DSV, Gebrüder Weiss, IFOY winners, MIQ, Resilience360, TenderEasy and Transporeon.

The new incentive plan is structured so that drivers are rewarded for their longevity with the company in combination with their performance.

In this commentary article, Donald Broughton looks at the second part of the economy – the consumer economy – and where we are now in the economic cycle.

H.R. 2396 would unlock the HMTF’s existing $9.3 billion balance and enable the expenditure of about $34 billion over the next decade.

U.S. Trade Representative Robert Lighthizer made the statement about the third tranche of tariffs in response to questions after a Ways and Means hearing.

The uncertainty over whether and when the U.S. and China will reach a trade agreement this year is creating a cloudy outlook for grain volumes this fall.

“We expect uncertainty to persist in the grain market due to the foreign tariffs,” said Kenny Rocker, Union Pacific (NYSE: UNP) executive vice president for marketing and sales.

Port commissioners will decide whether to give the Oakland Athletics four years to complete studies and agreements for proposed baseball stadium that industry opposes.

Increased visibility throughout the supply chain could help improve the length of haul from the OEM to the dealership, speakers said Tuesday at the JAXPORT conference.

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.

(PHOTO: SHUTTERSTOCK) Guest post by FreightWaves’ Henry Byers The US-China trade war has had a massive impact on supply and demand within the US truckload market. Companies scrambling to beat […]

The National Association of Manufacturers hopes the pressure to vote on nominees will break years-long failure to restore the Export-Import Bank’s full loan-making authority.

Coyote Logistics Chief Strategy Officer Chris Pickett says shippers can benefit from the sharp drop in spot rates and believes the market still has yet to hit bottom.

Kuebix has now integrated Emerge’s private freight matching marketplace into its platform, allowing its users to access broader truckload capacity for their shipping needs.

Former Falcon Transport executives allege that financial mismanagement and a poorly negotiated contract with General Motors led to the company’s abrupt closure on April 27.

U.S. Xpress held a call with analysts and the media to discuss its first quarter 2019 earnings, which were $0.15 per share compared to the consensus estimate of $0.18.

Weak demand on the asset light side weighs down results.

Relief sought after ELD mandate expected to ease compliance with work rule requirements.

J.B. Hunt Transport has consolidated its sales, operations and customer support functions for its Mexican subsidiary in a new office in Santiago de Querétaro, Querétaro, Mexico.

U.S. Xpress (NYSE: USX), a Chattanooga-based truckload carrier, reported adjusted earnings per share of $0.15 compared to the consensus estimate of $0.18.

Tank barge operator saw huge jump in delay days due to winter weather and one-off events that swept through U.S. waterways.

Canadian transportation and logistics firm buys Ontario-based broker that uses propriety software platform.

Company behind rivals in its pricing position, Jacobs says

Freight volumes recover from Easter lull as volumes are flat from a year-over-year perspective. Comparing load volumes is not the whole story, however.

Ten-year waiver to move U.S. LNG to Puerto Rico is off the table – for now.

Best-selling author Brad Stone (The Everything Store) will tell more about the history and future of an amazing corporate success story – Amazon – at Transparency19. Get your tickets now for this must-attend event.

Denso’s investment is another sign that the auto industry is nervous about the longevity of the car ownership model and more enthused about so-called urban mobility services that reduce traffic and emissions.

The raise adds to the flurry of activity that has hit the digital freight forwarding space since the beginning of 2019.

April rail volumes fell year-over-year but rose slightly from March 2019, the Association of American Railroads (AAR) said on May 1. But the AAR predicted that improving economic conditions could lead to rail volumes stabilizing or growing in the second half of the year, although some uncertainties still persist.

According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.

Deal puts Canadian international trade services company in $13 billion portfolio of Tom Gores’ private equity firm.

Fourth-largest port in India in possible path of violent cyclone.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Women In Trucking (WIT) has announced Bison Transport driver Treana Moniz as its 2019 May Member of the Month.

Tesla to raise $2 billion for increasing cash flow; Amazon has launched in Arabic in the Middle East; oil prices to remain high through the year.

Momentum is building to limit the speed of ocean-going vessels to curtail harmful emissions. The debate will focus on how this could impact charter rates, and whether it could have the unintended consequence of creating even more emissions-generating ship capacity.

FreightWaves has also observed downward pressure on contract rates and the beginning of a capacity bleed-off.

The following findings were compiled by DHL from more than 8,500 responses.

Royal Dutch Shell PLC (NYSE: RDS) announced net income of $5.3 billion for the first quarter of 2019, a decrease of 2 percent from the same quarter last year, reflective of the crude oil market, but a significant improvement on the $4.5 billion expected by analysts.

TriumphPay is shifting the power over invoice control back into the hands of carriers.

Henriette Thygesen named chair, Chris Burruss tapped as VP, Paul Dollman appointed non-executive director and Jonathan Zier hired as business development manager.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.

NYSE-listed Scorpio Tankers has returned to profitability and its scrubber-installation program should position it to take advantage of the looming IMO 2020 rule.

In partnership with Reliance Partners …

ELDs are not just about tracking the hours of service of drivers. The data they gather can be used by fleets to improve driver behavior and operational efficiency, and by insurance companies to understand accident history for evaluating fleet risk profiles.

Shippers benefit as transportation rates expected to stay low.

Releasing its earnings before the market open on May 2, Dana Inc. (NYSE: DAN) reported a drop in net income, which was $98 million in the first quarter of 2019, down from $108 million compared with the same three months of 2018.

Convoy has worked closely with shippers on various projects, including its Convoy Go program that gives owner-operators access to drop-and-hook freight. It has now formalized those efforts in the Innovation Lab.

The 14 senators in a letter earlier this week said implementing and enforcing the stricter sulfur standards would “fuel America’s growing energy dominance.”

FMC commissioners told during a meeting Wednesday there is “ample capacity” and freight rates have decreased.

Aside from Lunar New Year slowdown, world’s biggest exporter reports ongoing volume growth despite concerns over trade slowdown.

OFAC said violations can be minimized if compliance programs include management commitment, risk assessment, internal controls, testing and auditing, and training.

President Trump was reportedly considering granting Puerto Rico a waiver in the requirement that U.S.-flag vessels be used to transport LNG from the mainland to the island.

Duty drawback programs and foreign-trade zones are two options, speakers said during a JAXPORT conference, but there are other ways to lower the financial obligation.

Mid-Ship Group agreed to pay $871,837 to settle violations of sanctions involving financial transactions from charter party agreements between IRISL and two of its ships.

After falling rates and months of bad news, the dry bulk shipping community believes it has seen positive signs for the near-term markets. That’s despite some of the benchmark dry bulk seaborne volume and freight rate numbers taking a deep, deep dive. And, on analysis, the dry bulk shipping markets are currently really mixed-up.

Good execution has CEO Jacobs in ebullient mood.

A staff report by the Surface Transportation Board (STB) recommending how board members should modify existing rate review methodologies got a mixed reaction from the Association of American Railroads (AAR), a trade group representing the Class I railroads, Amtrak and other carriers.

Concerns about profitability in the ride-sharing sector are overblown, public-private partnerships are on the rise and transit and commuting platforms are the future.

BlackBuck has raised a total of $285.2 million till date and is looking to expand its services across India, without worrying much into its growing losses.

Apps collaborate to deliver to Ford cars.

Today on FreightWaves Now, we look at the snow out west and tornadoes in the southwest. What is happening on the intermodal side of things? Tune in and find out!

Mississippi River near record levels in Davenport, Iowa.

C.H. Robinson officials said their business model and technology has allowed the company to adapt through multiple cycles.

Atlas Air held a conference call to discuss its first quarter 2019 results. There were several questions of interest asked on the call.

Transitioning to a carbon free world could cost billions of dollars, but the price of a zero emissions technology is still considerbaly less than using fossil fuels, which could cost us the Earth.

BNSF (NYSE: BRK) says proposed rules in Oregon would make it harder for the railroad to comply with the common carrier obligation, a federal mandate requiring a railroad to provide transportation to all parties and for all goods, including hazardous materials.

So far this year, there has been heightened refinery downtime for maintenance and upgrades, but the tide is expected to turn in the second half, to the benefit of product-tanker rates.

When carriers cut ship speeds in the great recession, emissions fell. Now a group of companies says this phenomenon can be used to fight global warming.

Your weekly fuel report has arrived.

Global logistics solutions group, WiseTech Global, has announced the acquisition of Xware, a leading messaging integration solutions provider in Sweden.

“The dairy industry couldn’t be more clear: Pass USMCA,” said Rep. Mike Conaway of Texas.

The Economic Roundup is designed to synthesize the events of the past month as they relate to freight markets, and provide a guide on trends to keep an eye on in the upcoming month.

Atlas Air Worldwide Holdings reported adjusted earnings of $0.98 per share, ahead of the fourth quarter 2018 and the NASDAQ consensus estimate of $0.86.

Plus: WalMart opens transportation office; farewell to the Smart car.

Market expert Scott Case has written about the use of dynamic pricing in airfreight. Long-used to sell passenger seats on airplanes, dynamic pricing is new to airfreight – but will likely be used extensively going forward. Read Scott’s take on the why’s and wherefore’s of the move.

Saia Inc. (NASDAQ: SAIA) reported that its revenues and operating income were up in the first quarter of 2019.

Supply challenges weigh on profits, but company stays positive on market conditions.

Utility and telecom plays have been among biggest bets for Australian investment manager, but it’s also selectively added U.S. port assets.

The two sides will meet again in about three weeks to discuss how to pay for the package, which House Speaker Nancy Pelosi described as “big and bold.”

Gains in international intermodal offset by losses in domestic container and trailer moves.

Uber stands to gain by avoiding wage and benefit costs that accompany workers classified as employees.

The conversion to become IMO 2020 compliant is expected to happen in the fourth quarter.

The shipping management platform currently is available in seven countries but is expected to be offered globally by the end of the year.

Graham Westgarth is named CEO, Rob Rose is appointed president and Somer Webb is promoted to chief financial officer.

This year marks the 200th anniversary of the first steamship to sail across the Atlantic.

PHOTO: SHUTTERSTOCK The Truckload Carriers Association has been recognizing Highway Angels, or professional truck drivers who demonstrate compassion and courage on the road, since its 1997 inception. Recently, seven standout […]

Growth in Canadian firm’s trucking business remained solid despite earnings miss.

Automotive parts, tires, fuels and lubricant specialist U.S. Venture has bought energy information and supply chain management company Breakthrough Fuel for an undisclosed sum.

No signs yet on agreement on how to pay for it.

Strong bottom-line offsets some volume sluggishness.

Widening margins in NAST, especially truckload brokerage, led the way for Robinson.

Zūm announced it secured additional funding from new investor Citi Ventures to help double its national footprint by 2020

“You see a dearth of well-capitalized investment firms in this space,” said Dabo Horsfall, a former investment officer at Morgan Stanley Infrastructure Partners who launched Tensile Investments in 2018.

Company looks to get sticky with SMB traffic with one-month initiative.

Long-serving shipping man to replace former energy executive and consultant who led ship manager for less than two years.