Legislators propose a share of U.S. crude oil and natural gas exports be transported in ships built in the U.S. and operated with U.S. crews.
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Implications of Fed rate cut for carriers and shippers
Federal Reserve officials decided to add some additional stimulus into the economy, settling on a 25 basis point reduction in the federal funds rate at the conclusion of the July 30-31 Federal Open Market Committee (FOMC) meeting. This marks the first reduction in interest rates since 2008 and ends a monetary tightening cycle that began […]
U.S. weekly jobless claims fall; labor market strong
The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong even as the economy is slowing.
Regulators may consider cameras on freight trains
Voluntary installation of locomotive cameras by the major freight railroads has allowed the industry to dodge costly federal requirements, but regulators could still end up mandating cameras and audio recording equipment for train engines that pull both passengers and freight.
Trucking stakeholders ask congress to repeal the 12% federal excise tax on trucks, trailers
A group of trucking stakeholders asked Congress to repeal the 12% federal excise tax on the purchase of heavy-duty trucks, tractors and trailers. In a letter to top leaders in the U.S. Senate and House of Representatives, 21 wide-ranging trade organizations, including American Trucking Associations, called the tax “outdated” and the “most inconsistent revenue source […]
Fines for trucking regs violations increased
The U.S. DOT announced Tuesday it has increased fines across the board for violations of federal trucking regulations. The Federal Motor Carrier Safety Administration is required by Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 to adjust fine amounts each year based on inflation.
Ports of Virginia, Savannah see record volumes
The Port of Savannah had a record fiscal year and saw volume increase more than 7%, moving 4.5 million TEUs on the year, the port announced this week. The Port of Virginia also saw record traffic for the year with a 4% increase in traffic, handling 2.9 million TEUs.
Container shipping amps finance amid to tariff-hit shippers
Increased tariff levels are often not accounted for when shippers secure financing for shipments, one of a range of issues the freight forwarder Flexport plans to tackle with its Flexport Capital product.
US consumer spending, prices rise moderately
U.S. consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation that could see the Federal Reserve cutting interest rates on Wednesday for the first time in a decade.
Gauge of US manufacturing hits lowest since Sept. 2009
The IHS Markit Manufacturing Purchasing Managers’ Index fell to 50.4 in July, down from 50.6 in June, driven by a weaker demand. The firm also noted managers’ signaled slower hiring.