Truckers and the Federal Maritime Commission are continuing to urge operational and financial changes in the PierPass program, the fee system that governs shipments through Los Angeles and Long Beach, California, the nation’s two largest ports.
July 25, 2016Business
Fleet Failures Accelerate in 2Q
Fleet failures, measured in the number of trucks pulled off the road, more than doubled in the second quarter on a year-over-year basis, but the resulting reduction in capacity isn’t enough to change the sluggish freight market truckers face, a new report said.
July 18, 2016Business, Autonomous
Truck-Rail Freight Falls 5.5% in 2nd Quarter
Truck-rail freight in the second quarter fell by 5.5%, the largest year-over-year decline since late 2009. The fall was driven by a weak economy, a market share skirmish with over-the-road trucking and 2015 market dislocations that inflated shipments last spring, industry experts said.
July 18, 2016Business, Government
Campaign for Teamsters President Begins
The stage is set for the fall Teamsters union election, with incumbent James Hoffa campaigning for a five-year term and insurgent Fred Zuckerman, current president of a Kentucky local, seeking to unseat Hoffa after three terms.
July 18, 2016Business
Truckload 1Q Turnover Declines Due to Softer Freight Economy
Truckload turnover declined in the first quarter because a softer freight economy limited shipment volumes, reducing drivers’ opportunities to switch to a new employer, American Trucking Associations reported.
July 11, 2016Business, Government, Safety, Autonomous
Analysts See Weaker 2Q Earnings
A series of weak second-quarter earnings reports in the weeks ahead should document evidence that truck freight markets have suffered this year amid excess capacity and overstocked inventory, analysts believe.
July 11, 2016Business
New Panama Canal to Alter Global Logistics
Now that the expanded Panama Canal is open for business, changes to global shipping patterns will be far-reaching and gradual, experts said.
July 11, 2016Business
STB Postpones Ruling on Rail Competition Case
The Surface Transportation Board will take another month to decide whether to allow a long-standing, controversial proposal that would create new rail competition in a limited geographical area.
July 1, 2016Business
FedEx Raises Fiscal 4Q Profitability by 20%, Helped by Results at Express, Ground Units
Improved profits at the Express and Ground units of FedEx Corp. helped the package company raise fiscal fourth-quarter net income by 20%, excluding one-time costs. This sets the stage for continued Ground capital investment to support increased e-commerce and the initial integration of TNT N.V.
June 27, 2016Business
May Tonnage Climbs 5.7%
Truck tonnage climbed 5.7% on a year-over-year basis in May and also increased from April, helped by stronger consumer demand and a long-awaited drop in inventories, American Trucking Associations reported.
June 27, 2016