Trucking Business News

About Business News...

Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.

BusinessEquipmentFuel

Rivian Dispute With Seat Supplier Could Delay Production of Amazon Vans

Rivian Automotive Inc. fell almost 7% May 16 on word the electric vehicle startup is in a dispute with a key seat supplier that could jeopardize its delivery van contract with patron Amazon .com Inc.

May 16, 2022
GovernmentBusinessFuel

Region Results Mixed, Leading to 1¢ Diesel Drop Nationwide

The national average price of diesel dipped after a two-week surge, dropping 1 cent to $5.613 a gallon, the Energy Information Administration reported May 16.

May 16, 2022
GovernmentBusinessSafety

ATRI Unveils Top Five Research Areas for 2022

SCOTTSDALE, Ariz. — The American Transportation Research Institute unveiled its top five research areas for 2022 at American Trucking Associations’ annual Mid-Year Management Conference May 16.

May 16, 2022
BusinessLogisticsTCA

Icebreaker Shortage Freezes Up Supply Chain on Great Lakes

CLEVELAND — More than 1.6 million tons of cargo ship carrying capacity was delayed for 28 days due to ice conditions on Lake Superior, Lake Huron, Lake Michigan and in Green Bay. A lack of Coast Guard icebreakers hampered efforts to meet the needs of commerce.

May 16, 2022
BusinessTechnologyEquipment

Gary McCartney Named CFO for Mack Trucks, VTNA

Gary McCartney was named chief financial officer for Volvo Trucks North America and Mack Trucks, Volvo Group announced May 16.

May 16, 2022
BusinessTechnology

Early Adopters Urge Carriers Not to Delay on Electric Trucks

LONG BEACH, Calif. — Companies considering transitioning to electric trucking need to start now rather than continuously research the process or wait for a wider selection of vehicles from truck builders.

May 16, 2022
BusinessTechnologyEquipment

SEA Electric to Begin Durability Testing of Class 6 Chassis

SEA Electric announced durability testing for its Class 6 SV6 E stripped chassis package is scheduled to begin in the third quarter, and volume assembly to begin in first quarter of 2023.

May 16, 2022
BusinessTechnologyEquipmentFuel

Xos, Allison to Partner on Classes 7-8 Electric Vehicles

Xos Inc., a manufacturer and services provider of Classes 5-8 battery-electric vehicles, powertrains, charging infrastructure and fleet management software, announced a strategic partnership with Allison Transmission Inc. to jointly develop heavy-duty Classes 7-8 commercial electric vehicles.

May 16, 2022
BusinessTechnologyFuel

Hexagon Composites Acquires Stake in Cryogenic Tanks Company

Hexagon Composites, a designer and manufacturer of clean fuel solutions for commercial vehicles, announced it signed an agreement to acquire a 40% stake in Cryoshelter, an Austria-based company specializing in the development of cryogenic tank technology for liquid renewable natural gas and liquid hydrogen.

May 16, 2022
GovernmentBusiness

How to Build Up Trucking's Workforce With Labor Secretary Marty Walsh

ATA Chief Economist Bob Costello estimates that the industry needs at least 80,000 drivers today and more in the future to account for rising freight levels. The Biden administration has made efforts in the past year to encourage more men and women to enter the trucking industry. With the Department of Transportation and Department of Labor working in cooperation with industry stakeholders for paid apprenticeship and training programs, how successful are these efforts? In this special edition of Newsmakers, Labor Secretary Marty Walsh joins TT's Eugene Mulero and Dan Ronan to discuss the industry's workforce concerns, changing perceptions of trade professions, and partnering with public and private groups to work toward a common goal.

May 16, 2022