News

Eaton, maker of electrical systems and powertrain components posted record revenue in the first quarter.

Competitors agree on need to collaborate on common standards during Blockchain Revolution Global conference.

Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.

Two truck drivers recently honored for helping people during harsh winter storms.

GDP declines by 0.1 percent, while unusually bad weather and lower commodity volumes lead to sharp drop in rail.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11 percent better year-over-year, but less than NASDAQ’s consensus estimate of $0.83.

Cummins is reviewing is emissions certification and compliance process following questions from EPA and CARB. The company did report strong earnings and a record number of engines shipped in the first quarter.

Market expert Brian Aoaeh’s article focuses on the current and upcoming maritime industry issues – IMO 2020, global warming, rising sea levels, etc. Read Brian’s take on how the maritime industry is meeting these challenges.

Speaker Pelosi and Senate Minority Leader Schumer wrote a letter to President Trump on Monday to outline priorities for Tuesday’s meeting about infrastructure.

Sharp increase in profit, revenues and volumes reflect the purchase of a majority interest in Orient Overseas (International) Ltd. last summer.

Bosch is working with Powercell to develop a hydrogen fuel stack for vehicles. Plus, housing index has positives for home buyers, JFK starts new phase of air cargo expansion, and trucking company in Denver crash had history of violations.

FreightWaves Radio’s tenth national show was broadcast on Saturday, April 27 on SiriusXM’s Road Dog Channel 146.

Danish freight forwarder DSV has begun 2019 in the same groove as the previous five years, registering further growth in 2019 as the company anticipates a merger with its Swiss partner, Panalpina, later this year.

CEO Eric Meek and COO Danny Williams — who pleaded guilty to securities fraud last week — are no longer with the freight payments company.

At the same time Wall Street investors are shunning ship owners, European banks are pulling back on providing debt to ocean shipping. What are the short- and long-term implications for freight markets?

Oshkosh Corporation (NYSE: OSK) reported its fiscal year 2019 second quarter earnings on April 30, highlighting an increased diluted earnings per share of $1.82, compared to the $1.47 reported in the same quarter in 2018, and a net income of $128.5 million compared to $110.8 million, in 2018.

EDI, API, or both? Which option is best for you? Today’s infographic, in partnership with Roadrunner Freight, looks to help you decide. 

Market expert Jim Blaze looks at an under-appreciated asset of North America’s freight railroads – their real estate holdings. Read Jim’s hypothesis of what the railroads might do with this real estate in the near future.

Transparency19 is just a few days away. Quick-fire demonstrations are a big part of the program; read why in this article, and if you haven’t bought a ticket yet, please do so!

But Ryder’s 3PL division, Supply Chain Solutions, is expected to go into negative year-over-year growth next quarter.

A chief operating officer is hired and board members are elected.

Paccar  (NASDAQ: PCAR) reported record revenues and net income for the first quarter of 2019, beating analysts’ estimates on April 30.

J.J. Keller & Associates, Inc., the nation’s leading provider of safety and compliance solutions, has joined the Blockchain in Transport Alliance (BiTA)

U.S. soybean exports have fallen in the past year in part because of the drop in exports to China due to tariffs and swine fever.

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.

Rail shippers could gain more leverage in rate disputes should the Surface Transportation Board (STB) proceed with its staff recommendations for how to reform rate review methodologies.

Passage of Mexican labor reform legislation was a key commitment included in the U.S.-Mexico-Canada Agreement.

DSV says it had “healthy top-line growth” and expects to close Panalpina acquisition in third quarter of 2019.

Developing markets offer high growth, but high risk, as dispute between east African nation and Dubai firm forces Chinese ports operator to refinance loan.

Deal signed to acquire 100 percent of the Offen Group subsidiary.

Capital Development will invest more than $172 million as part of the deal for the 1.075 million-square-foot facility.

“It became clear that we could become a stronger, more competitive organization by joining forces,” Trinity’s Jeff Banning said.

The interoperable messaging solution xTrade is designed to allow organizations to safely share information with suppliers and business partners.

The Shipping Act provides the FMC special oversight of government-controlled common carriers operating in U.S. trades to ensure “just and reasonable” rates.

R. Eddie Wayland, TCA Legal Counsel PHOTO: SHUTTERSTOCK A supervisor of the trucking company in this case made a “dinosaur” comment directed at an employee when discussing company policy.  Shortly […]

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.

Orient Overseas (International) Limited announced the sale for $1.78 billion of Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners.

Getting Trump to support raising the gas tax would be a major step toward passing an infrastructure bill.

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.

A report released this month outlines opportunities for fleet electrification created by more regional hauls.

Last local ratifies rider, paving way for contract implementation.

Former truck drivers and employees of Falcon Transport of Youngtown, Ohio, admit there were warning signs that the company was experiencing financial problems, but few said they expected the company to cease operations abruptly on Saturday, April 27, stranding truckers hauling loads without working fuel cards or further instructions.

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).

Urbain to leave as CEO June 1, become top aide to new chairman Saade.

Tornadoes, destructive winds and large hail could strike many areas of the Great Plains for next several days.

Eight years since he burst on the scene with a $150 million acquisition of a then 22-year-old company called Express-1 Expedited Solutions, Brad Jacobs today sits astride a $17 billion per year multi-national behemoth.

Industry fragmentation has made it difficult for technology to penetrate the market depths; many small fleets and owner-operators are still in the dark with regard to driving value through data analytics.

British Prime Minister Theresa May is hoping to prolong this session of Parliament by delaying the Queen’s Speech as she fears that her Withdrawal Bill will be rejected by Parliament for a fourth, and probably, fatal time.

Each year, truck drivers and fleets face both announced and unannounced inspections or enforcement blitzes.

Building a small business is difficult if you don’t have access to the same powerful tools that larger competitors do. Uber Freight, with its growing suite of tools, has been trying to empower small fleets and owner-operators to allow them to compete on an even playing field.

Putting export-import documents online may make a difference between container arriving to customer on time or sitting in a warehouse.

Craig Fuller, FreightWaves founder and CEO, has named George Abernathy as the company’s first president. Read about the plans Craig and George have for the company and George’s career.

A few years ago the idea of using drones for last-mile delivery were just an idea. But the idea is becoming a reality in China, Indonesia and now the USA. Read Market Expert Cathy Roberson’s views on the use of drones for last-mile delivery.

Your weekly snapshot of how the markets are doing.

Dry bulk shipping faced multiple headwinds in the first quarter, but NYSE-listed Scorpio Bulkers benefited from its smaller ships and its diversification into the product-tanker sector.

Hernán Rincón Lema is stepping down from airline holding company and Mike Stolzman is stepping in at port subsidiary.

Results of NYK, MOL and “K” Line suffer from loss by their joint venture, Ocean Network Express.

Smiley declares war…again.

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.

Tonya Davis allegedly said individuals had passed driver skills tests when she knew the exams had not been administered.

The event also marked the first berthing of a containership at the new ICAVE terminal.

One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.

The rivalry between the two camps was brought into sharp relief during the Advanced Clean Transportation Expo, where a vigorous defense by both sides informed many of the panel presentations and trade show spiels.

But because so many containerships are relatively new, the pool of candidates for scrapping is limited.

The memorandum of understanding was signed during the recent Belt and Road Forum in Beijing to further develop links between China and Hungary.

“There is no appetite in Congress to debate USMCA with these tariffs in place,” the Senate Finance Committee chairman wrote in The Wall Street Journal.

The Treasury agency takes steps to implement a new sanctions list to punish foreign entities that interfere in U.S. elections, but the “final rule” is still in development.

A public session will be conducted after the U.S. and South Korean officials sit down in Washington in May.

The Port of Boston invests in marine terminal infrastructure to handle regional cargo going on and coming off increasingly larger containerships.

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.

Truck drivers for the flatbed truckload carrier, Falcon Transport of Youngstown, Ohio, said they received emails late April 27 stating the company was shuttering operations effective immediately.

The housing market has been sliding since early 2018, but there are optimistic signals for a turnaround in 2019. Freight markets can only benefit from a strong housing market.

Richmond, Virginia-based Estes Express Lines has submitted a $15 million bid to buy two affiliates of bankrupt New England Motor Freight – Eastern Freight Ways Inc. and Carrier Industries Inc. – on April 26.

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.

The consensus at a panel in Houston is that marine gasoil will be the first fuel to get a big boost in demand as IMO2020 approaches. That’s not good news if you’re a diesel buyer.

Results of two audits could affect current quotas of glider truck kits.

No stakeholder will be spared the consequences of the move.

Though blockchain looks to be promising, companies are still not convinced on the trustability of a blockchain network and it would take more than a few pilots to persuade stakeholders to join together on a single common decentralized ledger.

Amazon could build a zero-margin equivalent of C.H. Robinson inside the ‘shipping costs’ line on its P&L without anyone noticing.

Amazon could build a zero-margin equivalent of C.H. Robinson inside the ‘shipping costs’ line on its P&L without anyone noticing.

Trans-Pacific volumes and revenue up with OOIL acquisition, but stand-alone results reflect seasonal weakness.

Several inches of snow and slush could soon cover roads in parts of Midwest after a week of warm weather.

Amazon.com, Inc.(NASDAQ:AMZN) has launched a program to offer free one-day delivery to users of its popular “Prime” service, cutting its current delivery window in half and throwing down another gauntlet to retailers and logisticians across the country.

Despite lower net income and revenue in the first quarter of 2019, Daimler AG (DAI.XE) reported on April 26 that it expects to see slight earnings and revenue growth for the year.

WTI’s recovery this quarter should accelerate production in the Permian Basin, driving further truckload demand.

National freight volumes took a nosedive this week as Easter had a decent impact on the freight market, but how much of the drop is related to the holiday?

Donald Broughton, FreightWaves’ chief market strategist, helps explain the U.S. economy in a multi-part series. This article focuses on the industrial economy of the U.S., which is critical to the overall health of the nation.

Growth in the U.S. economy improved 3.2 percent during the first quarter, but details related to freight demand suggest a weaker environment to start the year.

Getting stakeholders to cooperate in creating interoperability within blockchain networks is the next hurdle that the technology needs to overcome for mainstream adoption.

Funding for FreightTech, software companies that aid in the movement of freight is rapidly increasing.

In partnership with Slync… Supply chain exceptions are being automatically moved toward resolution and visibility into the problem provided to all relevant partners.

World’s largest operator of marine terminals saw first quarter throughput at its non-China-based assets grow faster than China-based ones.

The port also is looking to speed up a project to widen its main shipping channel.

“Probably all undamaged containers will be on board” when the Hapag-Lloyd-owned ship departs from Freeport, which is expected to occur by early May.

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.

The final part of the FreightWaves series on the Panama Canal focuses on dry bulk transits. The two trends: US agribulk cargo to Asia is down, Colombian coal to the west coast of South America and Asia is up.

Manufacturers should prepare for increased regional value content for the automobile sector, speakers said during an American Shipper webinar.

Richmond, Va.-based trucking company enters $15 million bid to obtain certain flatbed trailers from bankrupt New England Motor Freight.