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| FTR: Tight truck market ‘best ever’ for operators |
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Friday, April 20, 2018
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An extremely tight North American trucking market in early 2018 has created the “best ever” environment for operators, according to freight transportation analyst FTR. FTR’s Trucking Conditions Index, which aggregates changes in freight volumes, rates, fleet capacity, fuel price and financing in the U.S. truck market, jumped four points from the previous month in February to a reading of 15.41, the highest level since FTR created the index in 1992. The TCI reading f...
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| Kansas City Southern posts record Q1 revenues |
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Friday, April 20, 2018
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Kansas City Southern (KCS), a U.S. Class I railroad with extensive operations in Mexico, reported a net income of $145 million for the first quarter of 2018, relatively unchanged from $147 million for last year’s first quarter, the company revealed Friday. KCS’ record first quarter revenues of $639 million, which rose 5 percent year-over-year, still fell short of the $647 million Wall Street analysts expected.
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| Unions serve Canadian Pacific with strike notice |
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Thursday, April 19, 2018
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Class I railway Canadian Pacific revealed Wednesday it received a 72-hour strike notice from the Teamsters Canada Rail Conference-Train & Engine (TCRC) and the International Brotherhood of Electrical Workers (IBEW) of their plans to strike at 12:01 a.m. Eastern time Saturday if negotiated settlements are not reached. The news comes as Canadian railways are continuing to deal with a grain backlog and CP reported earnings were down significantly in the first quarter due t...
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| BIMCO: Shipping feels impact of soybean tariffs |
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Thursday, April 19, 2018
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BIMCO says there is already some some evidence that China’s higher tariffs on U.S. soybeans is being felt in the shipping industry. “The uncertainty in the shipping market has already been felt,” said Peter Sand, the chief shipping analyst for BIMCO, a shipowner group based in Denmark. “Anecdotal evidence of fewer U.S. Gulf cargoes heading for China is an indicator of this. Changes in pricing of soya beans is another effect already seen.
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| Panalpina’s profits up nearly 35 percent |
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Thursday, April 19, 2018
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Panalpina, an international freight forwarder and third-party logistics provider headquartered in Basel, Switzerland, reported consolidated profits of 16.6 million Swiss francs (U.S. $17.2 million) for the first quarter of 2018, a 34.5 percent uptick from last year’s first quarter. Net forwarding revenues jumped 10.7 percent year-over-year to CHF 1.41 billion. Despite ocean freight volumes slipping 4 percent year-over-year during the quarter, which Panalpina mainly ...
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| Port Houston thrives in Q1 |
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Thursday, April 19, 2018
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Port Houston handled 9.7 million tons of cargo during the first quarter of 2018, up 2 percent from the corresponding 2017 period. Cargo showed year-to-date increases across all major lines, with bulk material and steel being the primary drivers for the growth, the port reported earlier this week.
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| CSX reports nearly double net earnings |
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Wednesday, April 18, 2018
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CSX posted record first quarter 2018 net earnings of $695 million, up from $362 million for the first quarter of 2017, the company reported Tuesday. CSX is the first Class I railway to unveil its first quarter 2018 results.
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| Sorghum duty ‘ludicrous’ |
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Wednesday, April 18, 2018
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The U.S. government, along with the nation’s sorghum producers, are questioning the basis for China’s decision to impose a 178.6 percent antidumping duty on these imports from the United States. “The international grain market is about the freest market there is, and it is ludicrous to even mention ‘dumping’ because China can buy product from anywhere they choose,” U.S. Agriculture Secretary Sonny Perdue said in a statement. “This is clearly a political decision by the Chinese a...
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| Dachser’s revenues soar in 2017 |
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Tuesday, April 17, 2018
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Dachser posted record gross revenues of 6.12 billion euros (U.S. $7.57 billion) in 2017, a 7.2 percent increase from the prior year, the company said. “Rising market rates for air and sea freight, in particular, resulted in a significant increase in revenue,” Dachser CEO Bernhard Simon said. During the year, the Kempten, Germany-based global logistics company handled 81.7 million shipments weighing 39.8 metric tons, up 2.1 percent and 4.3 percent year-over-year, res...
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| U.S. diesel fuel prices highest since 2015 |
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Tuesday, April 17, 2018
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The average price for a gallon of on-highway diesel in the United States stands at $3.104 per gallon, the U.S. Energy Information Administration reported Monday. This was the highest amount since Jan. 5, 2015, when prices stood at $3.137 per gallon.
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| Port of L.A. volumes recede in March |
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Tuesday, April 17, 2018
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Container volumes at the Port of Los Angeles fell 26.7 percent to 577,865 TEUs in March 2018. The Port of Los Angeles handled 577,865 TEUs of containerized cargo in March, a 26.7 percent decline from the same 2017 period, according to the latest figures from the Southern California port. Loaded import volumes dropped 29.2 percent to 264,460 TEUs for the month, while loaded exports were down 14.6 percent to 163,706 TEUs compared with the previous March. Volumes of empty containe...
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| NWSA container throughput slips after Lunar New Year |
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Tuesday, April 17, 2018
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The Northwest Seaport Alliance (NWSA) ports of Seattle and Tacoma saw their combined container volumes drop 9.6 percent to 302,516 TEUs in March. The Northwest Seaport Alliance (NWSA), which includes the ports of Seattle and Tacoma, saw its container cargo volumes drop 9.6 percent to 302,516 TEUs in March, according to the latest data from the ports. Total international container volumes slipped 10.1 percent year-over-year to 245,723 TEUs, as international imports fell 12.8 per...
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| U.S. restarts pork trade to Argentina |
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Monday, April 16, 2018
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The U.S. Department of Agriculture and Office of the Trade Representative finalized an agreement with Argentina’s Ministry of Agro-Industry to restart pork exports to the South American market after a nearly 26-year hiatus. According to USDA, the reopened Argentine market could generate as much as $10 million per year for American pork producers.
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| Container rates continue downward spiral |
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Monday, April 16, 2018
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Container freight rates on major east-west trades fell 18 percent year-over-year to $1,192 per FEU last week, according to Drewry’s World Container Index. Container freight rates continued their precipitous decline last week, with composite pricing on the eight major east-west routes measured by Drewry’s World Container Index down another 2 percent to $1,192 per FEU compared with the previous week. The latest reading of the composite WCI was also 18 percent below the same time ...
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| Georgia Ports Authority full speed ahead |
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Monday, April 16, 2018
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The Georgia Ports Authority in March handled 355,208 TEUs — 159,699 TEUs of loaded imports, 132,822 of loaded exports and 62,688 of empty containers — splashing up 14 percent from 12 months prior, according to the latest statistics released by the port authority.
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| Port of Baltimore thrives in 2017 |
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Monday, April 16, 2018
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The Helen Delich Bentley Port of Baltimore’s public and private marine terminals handled 38.4 million tons of cargo in 2017, the most since 1979, the Maryland Port Administration said.
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| Air cargo soars but trade war threat looms large |
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Friday, April 13, 2018
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Air cargo volumes at the 20 busiest airports in the world soared 6.8 percent to a combined 51 million metric tons in 2017, according to the latest figures from trade association Airports Council International. Those 20 airports, which account for 43 percent of all global air cargo volumes, benefitted from a broad-based strengthening of the world economy, building of inventories and increased export orders. These factors were more than enough to offset “uncertainty regarding the ...
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| Port of Vancouver USA makes waves in 2017 |
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Friday, April 13, 2018
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Port of Vancouver USA handled a record 7.5 million metric tons of cargo in 2017, nearly unchanged from the 7.49 million metric tons handled in 2016.
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| Small businesses: Make trade deals, not wars |
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Thursday, April 12, 2018
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Testifying in front of House lawmakers on Wednesday, small business stakeholders spoke in support of free trade agreements and expressed concern about the potential impacts of recently announced U.S. tariffs. Working with China to get its intellectual property regime in order should involve U.S. officials stressing to their Chinese counterparts the importance of IP for economic growth in bilateral negotiations—and not tariffs, Raymond Keating, chief economist for the Small Busin...
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| Port of Oakland volumes slide following holiday |
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Thursday, April 12, 2018
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The Port of Oakland saw its cargo volumes slip in March 2018, as imports fell due to factory shutdowns in Asia during the Lunar New Year holiday. Container volumes at the Northern California port fell 2.9 percent to 193,341 TEUs compared with the previous March, according to the latest data from the port. During the month, port officials also released its “Growth with Care” five-year strategic plan for both the seaport and airport and in it estimated an 8 percent in...
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| SCPA volumes rebound with record March |
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Thursday, April 12, 2018
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Volumes of containerized cargo at South Carolina Ports Authority rebounded in March 2018 after a rocky start to the year. Port terminals operated by SCPA handled 199,659 TEUs for the month, a 4 percent year-over-year increase and an all-time record for the port, after two down months in January and February, according to the latest figures from the port authority. Despite a combined 6.9 percent year-over-year decrease in the first two months of the calendar year, ho...
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| Intermodal pricing growth streak continues in March |
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Thursday, April 12, 2018
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Intermodal rates grew another 5.8 percent in March 2018 compared to the same month the previous year, the 18th consecutive year-over-year increase, according to the latest Cass Intermodal Price Index, which measures all-in per-mile costs. According to Cass, last month’s growth brought the index to a reading of 143.2, an all-time high, indicating that tight trucked capacity and higher fuel prices are “creating pricing incremental demand and pricing power for domestic intermodal.”...
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| TL rates keep on truckin’ in March |
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Thursday, April 12, 2018
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Growth in domestic U.S. truckload rates continued to accelerate in March 2018, increasing 7.2 percent compared with the same month a year ago, according to the latest Cass Truckload Linehaul Index. The March growth to a reading of 133.5 represents the 12th consecutive month of year-over-year gains for the index, which rose 6.2 percent in December 2017 and 6.5 percent in both January and February. The TL Linehaul index had fallen for 13 straight months—from March 201...
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| Long Beach touts Q1 record |
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Wednesday, April 11, 2018
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The Inner Harbor at the Port of Long Beach. Port of Long Beach said it handled 575,258 TEUs in March, an increase of 13.8 percent compared to the same month last year. Dockworkers moved 267,824 import TEUs in March, 7.3 percent more than a year ago. Exports grew 18.3 percent to 142,419 TEUs, and the port handled 165,015 TEUs of empty containers. “Our March cargo jumped despite the shipping slowdown during the Lunar New Year holiday in China,” said Port of Long Beac...
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| WLS: Capacity continues to rise on transatlantic, Asia-Europe trades |
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Wednesday, April 11, 2018
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The Asia-Europe and transatlantic trades thrived in the first quarter of 2018, with weekly deployed capacity rising 4 percent and 8.5 percent, respectively, from last year’s fourth quarter, despite the transpacific trade experiencing a slight quarter-over-quarter decrease, according to data from BlueWater Reporting ’s 2018 First Quarter World Liner Supply Report. BlueWater Reporting tracks the weekly TEU capacity of competitive direct liner services on 30 individual lanes operat...
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| Container shipping outlook 'decidedly mixed' |
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Tuesday, April 10, 2018
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The outlook for global container carriers this year is “decidedly mixed," according to a report released Tuesday by AlixPartners. “Although the industry enjoyed modest improvement in 2017, it still needs to address the dual challenges of rising costs and oversupply - driven mostly by fleet expansion - to keep the momentum going," the consulting firm said. “In 2018, we will begin to see the impacts that might result from the industry’s reconfiguration into ...
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| U.S. logistics job growth marches on |
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Tuesday, April 10, 2018
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U.S. transportation and logistics companies added another 9,800 jobs in March 2018, continuing the rapid growth seen in the previous two months, according to the latest preliminary data from the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). The March growth figures followed revised gains of 18,000 jobs in February and 15,300 positions in January. Job gains in the sector during February were led by the truck transportation and courier and messengers se...
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| U.S. meat exports sizzle in February |
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Tuesday, April 10, 2018
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United States beef, pork and lamb exports in February all increased in volumes and value from 12 months prior, according to data provided by the U.S. Department of Agriculture (USDA), which was compiled by the U.S. Meat Export Federation (USMEF). Beef exports refer to beef and beef variety meat; pork exports refer to pork and pork variety meat; and lamb exports refer to lamb, mutton and lamb variety meat. During the month, the U.S. exported 100,593 metric tons of be...
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| NRF: U.S. container import volumes rebound in February |
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Monday, April 09, 2018
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Imports at major U.S. retail ports surged 15.8 percent to 1.69 million TEUs in February 2018, according to the latest monthly Global Port Tracker report by the National Retail Federation (NRF) and Hackett Associates. Major retail ports in the United States handled 1.69 million TEUs of containerized imports in February 2018, an increase of 15.8 percent compared with the same month a year ago, according to the latest monthly Global Port Tracker report by the National Retail Federation (NRF) a...
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| IATA: Air cargo growth continues in February |
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Friday, April 06, 2018
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Global air cargo volumes climbed 6.8 percent year-over-year in February 2018, according to the International Air Transport Association (IATA). Global air cargo volumes climbed 6.8 percent in February 2018 compared with the same month the previous year, according to the latest data from the International Air Transport Association (IATA). Through the first two months of the year, airfreight volumes are up 7.7 percent compared with same 2017 period. IATA noted th...
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| AAR: U.S. rail traffic full speed ahead in March |
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Friday, April 06, 2018
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U.S. freight rail traffic increased 5 percent year-over-year to 2.13 million carloads and intermodal units in March 2018, according to the Association of American Railroads (AAR). Total combined U.S. freight railroad traffic in March 2018 increased 5 percent to 2.13 million carloads and intermodal units compared with the same month a year ago, according to the latest data from the Association of American Railroads (AAR). U.S. railroads saw carload shipments rise 3.6 percen...
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| COSCO SHIPPING Holdings swings profit in 2017 |
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Thursday, April 05, 2018
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COSCO SHIPPING Holdings Co. Ltd. recorded a profit attributable to equity holders of 2.66 billion yuan renminbi (U.S. $422 million) in 2017, compared with a loss of 9.91 billion RMB in 2016. Revenues from continuing operations totaled 90.4 billion RMB in 2017, a 29 percent surge from the 69.8 billion RMB recorded in 2016.
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| U.S. companies stress caution in handling China's trade practices |
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Thursday, April 05, 2018
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The Trump administration has proposed tariffs on $50 billion worth of goods to counter observed unfair intellectual property (IP) and technology transfer practices by China, marking the second instance in a month’s time that the executive branch ordered tariffs pursuant to domestic law. Republican and Democrat U.S. lawmakers and domestic import- and export-dependent industry groups provided somewhat varied reactions to the announced tariffs, though they largely urged the adminis...
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| Drewry predicts modest growth for ocean carriers |
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Wednesday, April 04, 2018
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The container shipping market’s healthy demand growth in 2018 and 2019 is likely to outpace fleet growth, leading to slightly higher freight rates and profits for carriers, according to Drewry’s latest annual Container Forecaster report. However, the London-based shipping research and consulting firm cautioned the report was completed before recent escalation in trade hostility between the United States and China . Worst case scenario, as much as 1 percent of the wo...
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| Compliance 360: Feeling the trade policy strain |
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Tuesday, April 03, 2018
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Those of us in the trade world who thought policy would settle down to some sort of soothed equilibrium a little over a year into the Trump administration are realizing how wrong we were. With understandably anxious clients - compounded by a rapid succession of tariffs unlike anything the U.S. has seen in recent years and an executive branch that finally got a slew of empty high-level trade positions filled through Senate confirmations in March - compliance professionals face a ...
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| Drewry: Transatlantic container rates bucking downward trend |
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Monday, April 02, 2018
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Container spot rates in the transatlantic trade between Europe and the United States are bucking the recent trend of large declines, according to Drewry’s World Container Index (WCI), which measures ocean freight pricing on eight major east-west trade routes. According to the latest WCI composite reading, rates across all eight routes fell a combined 8 percent last week compared with the previous week, leaving them down 14 percent from the same period a year ago. At $1,415 per F...
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| NAFTA trade growth accelerates in January |
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Monday, April 02, 2018
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The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA), which include Canada and Mexico, jumped another 9.9 percent year-over-year to $87.96 billion in January 2018, according to the latest data from the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS). NAFTA trade flows have been on a tear of late, posting year-over-year growth in each of the last 15 months for which after-...
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| Port Houston unveils new investments |
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Monday, April 02, 2018
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Port Houston’s commissioners approved investments last Tuesday that will allow the port to handle future demand of general cargo and its container facilities, the port said. Port commissioners gave the green light on the design for rehabilitation and repair of Dock 9 at the Turning Basin Terminal and the purchase of eight rubber-tired-gantry cranes at the Barbours Cut Container Terminal. During the first two months of 2018, the Texas port handled 6.1 mi...
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| Port of NY/NJ container volumes on pace to surpass record 2017 |
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Monday, April 02, 2018
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The Port of New York and New Jersey, the busiest cargo gateway on the U.S. East Coast and third largest in the country, handled 521,921 TEUs in February 2018, surpassing the previous monthly record set in February 2017 by 2.9 percent, according to the most recent data from the Port Authority of New York and New Jersey (PANYNJ).
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| Drewry’s Moreno examines transpacific container shipping outlook |
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Friday, March 30, 2018
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If there is not a trade war, Asia to United States container shipments will grow by 6.8 percent this year, while shipments from the U.S. to Asia will grow by 4.9 percent, according to a forecast presented by Drewry Senior Economist Mario O. Moreno. Moreno spoke Wednesday at the Port of Long Beach’s annual Pulse of the Ports Peak Season Forecast . In 2017, he said container volumes from Asia to the U.S. grew 3.5 percent, below his forecast of 6.9 percent last year at...
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| Kerry Logistics delivers earnings growth in 2017 |
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Friday, March 30, 2018
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Kerry Logistics Network Ltd. posted a profit attributable to the shareholders of the company of $2.12 billion Hong Kong (U.S. $269.6 million) for the full year in 2017, a 13 percent increase from the previous year, according to the company’s most recent financial statements. The Hong Kong-based third-party logistics provider and freight forwarder said its core net profit grew 7 percent year-over-year to HK $1.18 billion on revenues that rose 28 percent year-over-year to HK $30.7...
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| JaxPort cargo volumes rise amid Puerto Rico recovery |
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Thursday, March 29, 2018
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The Port of Jacksonville handled 100,346 TEUs in February 2018, a 25 percent increase compared with the same month a year ago, according to the latest data from the Jacksonville Port Authority (JaxPort). JaxPort attributed the increase in volumes of containerized cargo in large part to a significant boost in shipments to and from Puerto Rico, which is still in the midst of recovering from Hurricane Maria, which swept through the island last September, causing widespread devastat...
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| Commentary: Container rate decline just ‘normal seasonality’? |
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Wednesday, March 28, 2018
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Some analysts have posited that the current rate behavior, particularly in the eastbound transpacific trade, is indicative of a continued imbalance of supply and demand, while others have argued that it’s simply a matter of typical seasonal ebbs and flows in demand. The truth of the matter, however, is that both these arguments are actually accurate descriptions of the current state of the market. Rates are following what could be described as the normal seasonal pa...
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| AIIS: U.S. steel imports ‘plummet’ in February |
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Wednesday, March 28, 2018
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Imports of steel to the United States dropped off considerably in February, both on a sequential and year-over-year basis, according to the latest figures from the American Institute for International Steel (AIIS). U.S. steel imports stood at 2.36 million net tons for the month, an 18 percent drop compared with January and a 13 percent decline compared with February 2017. So far this year, aggregate steel imports have fallen 5.4 percent to 5.24 million net tons comp...
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| Commerce ups U.S. Q4 2017 GDP growth estimate |
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Wednesday, March 28, 2018
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United States gross domestic product (GDP) - the broadest measure of a nation’s overall economic health - grew at an annual rate of 2.9 percent in the fourth quarter of 2017, according to the “third” estimate from the Department of Commerce.
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| ATA: Truck driver wages shift upward |
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Wednesday, March 28, 2018
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A recent study by the American Trucking Associations (ATA) indicates that truck driver pay is on the rise as carriers nationwide strive to recruit and retain qualified operators. The ATA surveyed more than 100,000 drivers for its recently released Drive Compensation Study. Bob Costello, ATA’s chief economist, said the study “shows that fleets are reacting to an increasingly tight market for drivers by boosting pay, improving benefit packages and offering other ...
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| Hapag-Lloyd’s future looks bright after strong 2017 |
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Wednesday, March 28, 2018
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German ocean carrier Hapag-Lloyd expects cost synergies resulting from its merger with United Arab Shipping Co. (UASC) last May will result in savings of around $435 million from 2019 onwards. In Hapag-Lloyd’s annual report for 2017, released Wednesday, Rolf Habben Jansen, chief executive officer and chairman of Hapag-Lloyd’s executive board, said the savings will result from optimizing Hapag-Lloyd’s network structure, operating a combined fleet, jointly purchasing services and...
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| YMM back in black in 2017 with nearly $11m profit |
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Tuesday, March 27, 2018
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Yang Ming Marine Transport Corp. (YMM) posted a net profit of 320 million New Taiwan Dollars (U.S. $10.78 million) in 2017, a sharp reversal from the loss of NTD 14.9 billion it reported in 2016 and the loss of NTD 7.8 billion it reported in 2015.
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| Container spot rates continue falling on east-west trades |
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Monday, March 26, 2018
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Spot container freight rates to and from Shanghai have steadily deteriorated in the past six weeks, falling to lows not seen since 2016, according to the Shanghai Shipping Exchange’s Shanghai Containerized Freight Index (SCFI). The SCFI, a composite of spot rates on 13 different trades between Shanghai and the rest of the world, dropped another 4.3 percent last week to a reading of 646.59.
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| North American freight market growth rolls on in February |
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Monday, March 26, 2018
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The North American freight market continued to show “increasingly positive” growth in February 2018, according to the latest Cass Freight Index Report. Shipment volumes and expenditures extended a run of year-over-year increases that began 17 and 14 months ago, respectively, with volumes up 11.4 percent and spending up 14.3 percent compared with February 2017.
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| Xeneta: Transpacific rate instability indicative of persistent overcapacity |
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Friday, March 23, 2018
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Even after a profitable 2017 and continued rate increases in the early parts of 2018, the container shipping industry might not be out of the woods just yet. According to Patrik Berglund, co-founder and chief executive officer of ocean freight rate benchmarking and intelligence platform Xeneta, pricing in the transpacific trade has been steadily falling since the Chinese New Year holiday, a trend that could be indicative of persistent overcapacity in the market. Tha...
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| Truckload pricing growth streak continues in February |
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Friday, March 23, 2018
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Domestic U.S. truckload (TL) rates continued their extended growth streak in February 2018, increasing 6.5 percent compared with the same month a year ago, according to the latest Cass Truckload Linehaul Index. The February growth to a reading of 131.3 represents the 11th consecutive month of year-over-year gains for the index, which rose 6.2 percent in December and 6.5 percent in January. The TL Linehaul index had fallen for 13 straight months (from March 2016 thro...
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| Intermodal rates rise again in February |
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Friday, March 23, 2018
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Intermodal rates grew another 5.4 percent in February 2018 compared to the same month the previous year, the 17th consecutive year-over-year increase, according to the latest Cass Intermodal Price Index, which measures all-in per-mile costs. According to Cass, last month’s growth to a reading of 137.9 in February indicated that “pricing momentum is strengthening” thanks to tight truckload capacity and higher prices for diesel fuel. “Longer term, we continue to fores...
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| ZIM turning the corner financially? |
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Thursday, March 22, 2018
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Israeli ocean carrier ZIM reported a net profit of $11 million in 2017 compared to a net loss of $163 million the year before. ZIM Integrated Shipping Services Ltd. managed to get itself back into the black in 2017, recording a net profit of $11 million for the year compared to a net loss of $163 million in 2016, the Israeli ocean carrier said in a statement Thursday. Total revenues grew 17 percent from the previous year to $2.98 billion, as container transport volumes climbed ...
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| SCPA volumes continue to slip in February |
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Thursday, March 22, 2018
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Container volumes at South Carolina Ports Authority (SCPA) terminals continued to fall in February 2018, slipping 4.2 percent to 168,480 TEUs. South Carolina Ports Authority’s (SCPA) container volumes slid again in February 2018, falling 4.2 percent to 168,480 TEUs compared with the same month a year ago after starting the calendar year off with a 9.5 percent year-over-year tumble in January, according to the latest figures from the port authority. Loaded import volumes fell 4....
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| NWSA ups box volumes in February |
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Thursday, March 22, 2018
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The Northwest Seaport Alliance (NWSA), which includes the ports of Seattle and Tacoma, handled 279,488 TEUs in February, a 6 percent uptick from February 2017. NWSA attributed the increase to volumes moving ahead of the Lunar New Year holiday in Asia. Total international container volumes in February rose 7.4 percent year-over-year to 233,643 TEUs, comprised of 125,005 TEUs of imports and 108,638 TEUs of exports, up 13.4 percent and 1.3 percent year-over-year, respe...
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| ATA: Truck tonnage snaps growth streak in February |
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Thursday, March 22, 2018
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Domestic truck tonnage fell 2.6 percent in February compared with the previous month, according to the American Trucking Associations (ATA). Domestic truck tonnage snapped its sequential growth streak in February 2018, sliding 2.6 percent from the previous month, but rose 5.7 percent year-over-year, according to the American Trucking Associations’ (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index. The index equaled 111.6 in February, down from a reading of 11...
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| Talking Trade with Gary Hufbauer |
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Wednesday, March 21, 2018
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Peterson Institute for International Economics (PIIE) nonresident senior fellow Gary Hufbauer recently spoke with the Adam Smith Project about potential implications of President Donald Trump’s Section 232 tariffs on aluminum and steel, as well as aspects of the ongoing North American Free Trade Agreement (NAFTA) renegotiation, chances that the Trump administration could withdraw from the World Trade Organization (WTO), and potential impacts of the administration’s ongoing investigation...
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| PSA profits grow on rising revenues, volumes |
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Wednesday, March 21, 2018
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PSA International reported a net profit of 1.23 billion Singapore (U.S. $936.3 million) for the full year in 2017, a 5.1 percent increase from full-year 2016 figures, according to the company’s most recent financial statements. The Singapore-based port terminal operator saw its revenues rise 7.8 percent to S$3.97 billion for the year, as container handling volumes climbed 9.8 percent to 74.24 million TEUs.
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| ATA: Truckload driver turnover slows in Q4 2017 |
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Wednesday, March 21, 2018
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The driver turnover rate at large truckload (TL) carriers slid seven percentage points to 88 percent in Q4 2017. The annualized driver turnover rate at large truckload (TL) carriers slid seven percentage points between the third and fourth quarter of 2017 to 88 percent, according to the latest figures from the American Trucking Associations (ATA). ATA noted, however, that the turnover rate for large TL carriers remained above the rate seen in the fourth quarter of 2016, undersc...
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