Oil bulls got another piece of bad news today from an unlikely source: the Federal Reserve. U.S. crude production has continued to rise in spite of the collapse in oil prices. The Fed’s oil extraction index clocked in at a seasonally adjusted 179.8 in February. That’s up 0.4 percent from January and 14.4 percent from […]
The average flatbed rate on the spot market picked up a little more steam while rates in the other two sectors remained stable as both the number of loads to move and truck capacity increased. According to DAT Solutions network of load boards, flatbeds increased 1.4% the second week of the month compared to the […]
Factory production in the U.S. declined in February for a third consecutive month, a sign cutbacks in manufacturing will hold back economic growth this quarter. The 0.2% decrease at manufacturers followed a 0.3% drop in January that was initially estimated as a gain, figures from the Federal Reserve in Washington showed March 16. Total industrial […]
Freight availability continued its seasonal rebound the first week of March with a 6.3 percent increase over the last week of February, DAT Trendlines reported Wednesday.
The economy continued to expand across most of the country from early January to mid-February, but regions reported difficulty in filling openings for truck drivers, the Federal Reserve said.
Rates on the spot freight market increased in all three major categories for the first time in weeks, according to the freight matching service provider DAT Solutions. The national average van rate picked 0.5% for $1.88 per mile for the week ending Feb. 28 compared to the previous week. The hike was in the linehaul […]
Intermodal rail traffic fell in February, according to new figures released on Wednesday by the Association of American Railroads. U.S. railroads originated 929,395 containers and trailers during the month, down 6.5%, or 64,384 units, from the same month last year.
(This article requires registration at the Journal of Commerce. To access, please click on the above link.) Shippers can expect domestic rates to spike within the next month as U.S. West Coast ports regain productivity and shippers rush to move containers long delayed by labor contract negotiations, an intermodal pricing index provider said Tuesday.
Expected post-Lunar New Year cargo growth will accelerate equipment, cargo handling and other costs going forward. While the full impact on ocean carrier deployments to U.S. West Coat ports has yet to be measured, major players comprising the Transpacific Stabilization Agreement (TSA) are standing firm on raising rates.
A stronger-than-forecast U.S. payrolls report strengthens the argument for the Federal Reserve to begin raising interest rates in June, after the jobless rate reached the range that officials view as full employment.
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