The U.S. economy expanded in the first quarter at the slowest pace in two years as American consumers reined in spending and companies tightened their belts in response to weak global financial conditions and a plunge in oil prices.
Archive for April, 2016
Oil Market Deja Vu Triggers Predictions of a Return to $30
Oil’s climb above $45 a barrel is reassuring influential figures from BP Plc to the International Energy Agency that the industry is finally recovering from the worst slump in a generation. Others say the market is about to fall into the same trap as last year.
Hub improves intermodal volume outlook after high profits
Hub Group says it expects to see more intermodal business than previously forecast for 2016 after the company reported profit growth in the first quarter. The company estimates it will see intermodal volume rise anywhere from 2 percent to 4 percent, an improved forecast from the 1 percent to 3 percent increase predicted in late […]
Rail traffic in U.S., Canada, Mexico drops in week 16
Total U.S. rail carload volumes slipped 17.1 percent and intermodal units fell 6.3 percent for the week ending April 23, the Association of American Railroads (AAR) reported yesterday. Total U.S. rail traffic dropped 11.7 percent to 491,946 carloads and intermodal units compared with the same week last year
FMCSA Slates Roundtable on Broker/Forwarder Financial Responsibility
The Federal Motor Carrier Safety Administration will host what it calls an “informal roundtable” on the financial responsibility of property brokers and freight forwarders. The meeting is part of the agency’s appeal for public comment on this issue. The public meeting will be held on May 20 from 9:30 a.m. to 4:30 p.m. EDT at […]
Driver turnover hits level not seen since 2012
Driver turnover continues to pose problems for the trucking industry, particularly large truckload carriers. In the last quarter of 2015, driver turnover was 102 percent, the American Trucking Associations said. That quarter is the second straight that turnover surpassed 100 percent, which hasn’t happened since 2012. (This article requires registration at the Journal of Commerce. […]
Cross-Border Truck Freight Rises, Overall Value Declines
Trucking was only one of two transportation modes that carried more U.S. freight by value with North American Free Trade Agreement (NAFTA) partners Canada and Mexico in February than a year ago, increasing 4.7%.
U.S. Imports See Steady Climb, But Not Likely to Reach 2015’s Record Numbers
Import cargo volume at the nation’s major retail container ports has begun its annual climb toward summer levels but is expected to be largely flat when compared with last year’s record high numbers, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Inventories remain full, depressing US freight demand
Could U.S. freight volumes rise and overall economic growth slow? If that increase in freight volume accompanies significant de-stocking of “bloated” inventories, the answer is yes, an economist said at the 2016 NASSTRAC Shippers Conference here. (This article requires registration at the Journal of Commerce. To access, please click on the above link.)
New ocean cargo carrier alliance is planned
In a widely anticipated move, yet more ocean cargo carrier consolidation was announced in Singapore today. According to spokesmen for the newly-formed group, “Ocean Alliance,” CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line have signed a memorandum of understanding to form a consortia covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, […]