The spike in freight rates for product tankers in the aftermath of the Hurricane Harvey is expected to be short-lived. Product tankers saw a 35-40 percent lift in spot rates since the hurricane made landfall on Texas on August 25, shutting down refineries. The tanker industry is taking advantage from the initial uncertainty caused by […]
The U.S. average retail price of diesel rose 4.4 cents to $2.802 a gallon on the heels of Hurricane Irma slamming into Florida on Sept. 10 and disrupting fuel supplies there. Diesel costs 40.3 cents more than it did a year ago, when it was $2.399 a gallon, the Department of Energy reported Sept.11.
Americans notched solid financial gains in 2016 for a second straight year after prolonged stagnation as household incomes rose, poverty fell and fewer people went without health insurance. The median U.S. household income increased 3.2% to $59,039, the Census Bureau said Tuesday. That followed a 5.2% increase in 2015, the largest on records dating to […]
U.S. job openings rose to a record high in July, suggesting a slowdown in job growth in August was an aberration and that the labor market was strong before the recent disruptive hurricanes. The monthly Job Openings and Labor Turnover Survey, or JOLTS, released by the Labor Department on Tuesday showed the labor market continued […]
China’s economy got another boost from foreign trade last month, with exports posting modest growth, though the recent surge in the yuan’s value is starting to weigh on Chinese exporters. China’s exports increased 5.5% from a year earlier in August, according to customs data released Friday. Some economists said the pace, while lower than July’s […]
Given the sensational media headlines hyping Canada’s recent economic growth, it’s hard to blame Canadians for being complacent. “Canada’s economy steamrolls ahead – 4.5 per cent annualized rate of expansion” declared The Globe and Mail. “Canada’s economy blows away forecasts with 4.5 per cent growth” proclaimed the National Post. These headlines may leave Canadians feeling […]
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending September 9, 2017. For this week, total U.S. weekly rail traffic was 486,474 carloads and intermodal units, up 0.8 percent compared with the same week last year. Total carloads for the week ending September 9 were 247,930 carloads, down 1.9 […]
As Hurricane Harvey recedes, truck rates will only rise, not just in Texas but nationwide, thanks to the Gulf Coast storm. The question is, by how much? Perhaps in the high single digits, an industry pricing expert said. “It will be somewhere in the 8 to 10 percent range, but we’re just a few days […]
Great changes are heading toward trucking. And while it’s only natural to focus on headline-making technologies such as electric vehicles or autonomous driving technology, the tidal wave of changes coming at the industry create a ripple effect that will change aspects of the trucking industry that few have considered to this point.
Hub Group has launched a new cargo tracking tool that uses satellite technology to provide real-time supply chain visibility to customers moving cargo on truck and train. Tracking technology is still nascent in the logistics industry, but the rise of e-commerce has heightened the sense of urgency when it comes to cargo visibility. Shippers have […]
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