News

The Maersk subsidiary said it will focus on its container business, although the RAO Tankers business unit is not included in the sales agreement.

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.

Parliament has again failed to reach a compromise solution for Brexit, voting down all four motions put forward as alternatives to Prime Minister Theresa May’s withdralwal deal.

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.

The average price of a Class 8 used truck sold in February was $48,173, nearly 15 percent higher than the same month a year ago when trucks were selling for $41,995, according to ACT Research.

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.

Scott Hagen, the Corporate Controller, will be the interim CFO, and Robinson Fresh will be lumped in with ‘Other’ services in CHRW’s financial reporting.

Aulick and ShirAul were “a compelling strategic fit for our Specialized Truckload growth objectives in the U.S,” says CEO Alain Bédard.

All lanes of I-75 North to I-24 West in Chattanooga, Tennessee were blocked Monday after a concrete railing collapsed onto the roadway from the interchange above.

Big Apple’s traffic is rotten to the core thanks to rise of on-demand economy; congestion pricing may be cure, but uncertainties abound.

Surcharge to add thousands of dollars to annual cost for long-haul truckers. But will it help improve fuel efficiency?

ARTBA estimates cost to repair or replace 235,000 bridges across the country at $171 billion.

More than 150 locations remain at or above flood stage along Midwest rivers. Additional rainfall, snowmelt to slow down improvement.

The momentum is strongest in developing countries, where concerns about pollution and traffic congestion are mounting.

Retail activity declined unexpectedly in February, as poor weather contributed to the loss in momentum for consumer spending

U.S. Xpress driver Tim Keckley was also honored as one of P&G’s “Drivers of the Year”

Many food chains in the U.S. are shutting stores down due to lack of diners. It is time they take remote consumers seriously and look to sell food via last-mile food delivery companies.

UK Parlimentarians will debate and vote on four alternatives to Prime Minister Theresa May’s Brexit deal. The Speaker of the House chose the four motions from nine proposals put forward by Members of Parliament.

Union Pacific (NYSE: UNP) confirmed that it is slowing down its pace of construction at the multi-million dollar Brazos classification yard in Robertson County, Texas. This comes amid UNP’s plans to implement precision scheduled railroading and modify its operating plan to minimize railcar classification events.

The sale of Gioia Tauro, the last remaining major transhipment hub to be operated by an independent terminal company in the Mediterranean, has been agreed today and is now subject to regulatory approval.

A snapshot of what the markets are doing this week.

FreightWaves SONAR platform will be the basis of further collaboration between FreightWaves U and Georgia Tech.

In partnership with Redwood Logistics… we spoke to Michael Johnson, the architect of Strive Logistics’ LoadRunner matching and pricing engine.

The monthly economic roundup summarizes key developments in the macroeconomy over the past month and highlights trends worth watching headed into April.

OOIL fleet boosts Cosco’s volumes and revenue, but rates were stagnant and high finance costs push profit lower.

Becoming a Shipper of Choice requires many steps and processes, but it starts with communication, trust and building a relationship.

Danish logistics major DSV is acquiring Swiss rival Panalpina in a deal worth $4.6 billion, creating one of the world’s largest companies in logistics and freight forwarding.

Online retailer and supply chain services provider is expected to increase its ownership in Atlas Air and ATSG, with stock offerings that accompany additional plane leases.

DSV will acquire Panalpina in an all-stock deal to create the world’s fourth-largest freight forwarder.

EIA still sees no uniform international policy on how the IMO 2020 regulation will be enforced.

The number of structurally deficient bridges in 2018 fell at the slowest pace in five years, according to the American Road and Transportation Builders Association.

A common thread has emerged among recent OFAC violations: U.S. trade compliance breaks down in overseas affiliates and subsidiaries.

Indictment states California businessmen committed wire fraud and failed to report to the Consumer Product Safety Commission the fire-prone dehumidifiers.

CBP’s deployment of 750 officers to assist with the the immigration crisis has customs brokers along the Southwest border worried about backlogs of trucked imports.

The regulatory summary that clarifies the quarterly reporting requirement is in addition to the separate NRC annual reporting reporting requirements.

Ashley Coker IMAGE: PARKSLEY VOLUNTEER FIRE COMPANY Motorists were in a pinch after load of crabs spilled onto a Virginia street Saturday afternoon. The driver hauling the crabs ran off […]

A new survey of small fleets and owner-operators found they would like to utilize many of the same tools larger fleets do to control costs, including more technology like predictive maintenance.

Specialty retail and electronics retail stores are the least efficient loading and unloading docks for carriers according to FreightWaves latest index.

College students interested in supply chain and logistics from 14 schools across the country competed in the first-ever FreightTech Innovation Case Challenge Competition this weekend in Chattanooga, Tennessee.

Participants included Maersk Growth, the capital venture arm of the shipping giant Maersk, and Alstin Fund II from the Maschmeyer Group.

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.

Problems with some U.S. crude oil exports, more concerns for the IMO2020 switch, and the lessening impact of Donald Trump’s oil tweets.

Having the right visibility into the supply chain not only requires having the right TMS system, but also the right design of your networks.

Group hopes to set standards for `shippers of choice’.

Amazon to diversify from Boeing 767 flying.

Historic flooding has caused around $1 billion dollars in agricultural damage in Iowa, Nebraska. Roads, rails still out of service.

Increases in manufacturing and construction help GDP grow by 0.3 percent following slowdown at end of 2018.

Precision scheduled railroading and positive train control can help railroads improve service, safety and profits. Learn how in Jim Blaze’s piece.

U.S. rail volumes are poised to be lower in the first quarter compared with last year, but whether that decline indicates a looming recession remains to be seen.

Shipowners and marine insurers are asked to look at vessel locator data to avoid sanctions fines.

J.B. Hunt wants to make freight marketplaces more efficient by making information more transparent.

FreightWaves, in partnership with Nodal Exchange and DAT, launched the world’s first financially settled Trucking Freight Futures contracts at 9 a.m. Friday, March 29. The first trade came through within 20 minutes of opening, at 9:18 a.m.

As food product recalls are becoming a frequent occurrence on account of contamination fears, the time is right for companies to look towards blockchain for creating better visibility into their supply chains and to reduce generic en masse recalls wherever possible.

U.S. Secretary of Transportation Elaine Chao announced that the Department of Transportation has sent an hours of service (HOS) Notice of Proposed Rulemaking to the White House Office of Management and Budget (OMB) for approval.

Daimler Trucks is buying a majority stake in Torc Robotics, another play in the company’s efforts to expand its presence in the self-driving commercial vehicle market.

Lack of buyer interest means offshore support vessel service will remain on Maersk’s books for foreseeable future.

Exceeding expectations, the ride-hailing start-up Lyft raised $2.3 billion on March 28, after pricing its shares at $72, the top of its pricing range.

Shell has introduced a new gas engine oil under its Rotella brand. The company said the extension of the brand to gas engines is due to brand loyalty from its commercial customers, many of whom also drive pickups and SUVs.

Maersk appoints longtime employee Doug Morgante as VP of North American government relations; Marc Papenhoff joins InstaFreight as director of business development.

Attendees at the MId-America Trucking Show each year love trucks, but the general public’s perception of the industry has not improved dramatically in the last five years.

Parliament has effectively killed Prime Minister Theresa May’s Brexit deal defeating the Government in Parliament for a third time, this time by a substantial 58 votes. The EU offered a swift response calling a summit ofr 10 April.

The port’s board of commissioners approved a $23.4 million contract to Shanghai Zenhua Heavy Industries for the two 100-foot cranes.

The German liner carrier is still assessing the cause of its containership’s punctured hull at the Global Marine New York Container Terminal.

A look at how Roadrunner Freight’s business model differs from most LTL carriers.

FreightWaves, in partnership with Nodal Exchange and DAT, launched the world’s first financially settled Trucking Freight Futures contracts at 9 a.m. Friday, March 29. The first trade came through within 20 minutes of opening, at 9:18 a.m.

Guests at FreightWaves headquarters enjoyed a cocktail reception, dinner, and talks from industry luminaries.

Complaining about service quality, the shipper group says the current regulation that allows vessel sharing “does not fulfill its own objective” and should be amended or repealed.

Plus: Grocers adopt AI; surge in immigrant truck drivers; California’s latest emissions bill

Prime Minister May now has until April 12 to seek a longer extension to the negotiation process to avoid a “no deal” Brexit.

The Appellate Body upheld WTO panel findings that the U.S. provided unfair state tax breaks to Boeing and that rejected EU claims of U.S. subsidies unfairly impacting Airbus aircraft sales.

What makes a commodity and agricultural commodity? That is one question that the Federal Motor Carrier Safety Administrations hopes to answer soon, it said, during a regulatory update session at the Mid-America Trucking Show.

Funds will be used to repay debt and for capital expenditures, mainly on vessels.

Lone Star Ports, a joint venture between the Carlyle Group and Berry Group, will lease about 200 acres on Harbor Island to develop a petroleum export terminal.

One of the biggest terminals on the west coast is showing better results after multi-year automation project as final auction nears.

The Coast Guard will require ships arriving from ports in the Seychelles to include an additional layer of security during their time in U.S. ports.

Ashley Coker FREIGHTWAVES CEO CRAIG FULLER REACTS TO NEWS OF FIRST TRADE / IMAGE: JOSH RODEN, FREIGHTWAVES FreightWaves, in partnership with Nodal Exchange and DAT, launched the world’s first financially […]

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.

In part two, the company’s global airfreight market report is featured and provides a demand outlook for global airfreight by region along with insight on cost inflation, capacity and pricing.

German automobile and commercial vehicle technology supplier ZF Friedrichshafen plans to acquire rival Wabco for $7 billion, the companies announced Thursday.

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.

Two strong cyclones in as many months have caused trouble in a tiny, vulnerable island in the Indian Ocean. Damage to infrastructure widespread.

Railroad company must re-open Thunder Bay, Ontario, span to vehicles after lengthy legal battle.

UK Prime Minister Theresa May has made the ultimate sacrifice, offering to fall on her sword, if MPs will back her Brexit deal following the failure of Parliament to agrre to any of the alternatives so far. Yet May’s deal remains unlikely to pass if it is voted on again on 29 March.

The 23,000-TEU ships, which are being built at Daewoo Shipbuilding and Marine Engineering, are among the 20-ship order made by HMM last year.

The surge in imports as shippers “pulled forward” cargo in December is reverberating into this year and has set a high bar that will be hard to match in late […]

Flooding has taken many railways out of commission. Here’s a look at the BNSF tracks that are currently underwater.

Last-mile delivery companies have a new option for managing their businesses as Rand McNally will soon offer a local fleet version of its DriverConnect platform.

China ramps up its pork import from the U.S.; Lyft is all set for its IPO; Saudi Arabia looks to push oil prices to over $70 per barrel.

The two new cranes, identical to the pair delivered in March 2018, are part of the port’s $300 million in Packer Avenue Marine Terminal improvement projects.

L.A. volumes are propping up national freight volume but starting to fade. Are there any signs of another region emerging to take over for the West Coast?

Section 301 tariffs on goods from China are hurting some U.S. businesses downstream in the industrial supply chain, after the U.S. started imposing the measures last summer to generate changes […]

Freight levels have dropped from last year, but panelists at the ACT Research conference this week said they have simply returned to more normal levels.

The moves include a new vice president of customer care, chief transportation officer, acting chief executive and port director, board chairman, and global head of ocean procurement and tradelane management.

In partnership with Reliance Partners …Before autonomous driving systems are commercially available, it is essential to not just work on functional safety but also on cyber security, so as to ensure that the vehicle is completely safe to drive around once deployed.

It’s been about 50 years since a truck maker has successfully entered the Class 8 market in North America and lasted, said Dominik Beckman, director of marketing and dealer operations for Hino Trucks. So what makes Hino think it can do that now?

A fold-down ramp is just one of the innovations Morgan Corp. has introduced recently at it looks to build truck bodies to match the growing demands of e-commerce last-mile operations.

The plan, which includes more than $650 billion in federal funding, would be the Democratic presidential hopeful’s “top budget priority” should she be elected in 2020.

Navistar’s Steve Gilligan discussed several technological opportunities for truck makers, including autonomous and electric trucks, during this week’s ACT Research conference.

Emmanuelle Verger and Rick Revoir are tapped to take the helms.