Demand for long-lasting U.S. factory goods rebounded in August, pointing to a continued upswing in business investment. Orders for durable goods-products like refrigerators and airplanes that are designed to last at least three years-increased a seasonally adjusted 1.7% in August from the prior month, the Commerce Department said Wednesday. Economists surveyed by The Wall Street […]
Federal Reserve Chair Janet Yellen says the central bank shouldn’t wait for 2 percent inflation to continue raising rates, suggesting another rate hike by the end of the year is extremely likely. Financial markets demonstrated very little reaction to Yellen’s comments to the National Association for Business Economics on Tuesday as investors seem to see […]
The latest trucking job numbers may be warning sign of a “significant tightening of the driver market and acceleration of the driver shortage,” according to a report by an industry trade organization. The driver turnover rate at large truckload fleets jumped 16 percentage points to 90 percent in the second quarter of 2017, according to […]
Transportation and logistics bellwether FedEx yesterday announced rate increases for various business lines, including FedEx Express, FedEx Ground, and FedEx Freight, which will take effect on January 1, 2018.
The number of loads on the spot truckload freight market fell 3% during the week ending Sept. 9, which included the Labor Day holiday and supply chain disruptions caused by two hurricanes, according to freight matching provider DAT Solutions and its load boards. Truckload capacity also tightened with truck posts down 15% compared to the […]
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending September 16, 2017. For this week, total U.S. weekly rail traffic was 530,774 carloads and intermodal units, down 1.4 percent compared with the same week last year. Total carloads for the week ending September 16 were 260,771 carloads, down 3.6 […]
Ports on the West and East coasts are investing hundreds of millions of dollars in rail facilities to compete for intermodal cargo, but the winner may be determined not by the ports but which coast’s railroads offer more competitive pricing. Mario Cordero, executive director of the Port of Long Beach, said West Coast ports, and […]
European airlines saw record levels of cargo demand in August, with Europe’s largest cargo carrier, Lufthansa, and Finnair seeing the biggest increases in freight traffic, according to Air Cargo News. Lufthansa saw cargo capacity increase 2.3 percent due to the airline’s load factor increasing to 66.4 percent, up from 61.9 percent last year. The airline’s […]
Even as yet another major cyclone – the Category 5-level Hurricane Maria – plows through the Caribbean region today, cargo groups and nonprofits are scrambling to provide food, medicine and other relief supplies to help the islands recover from the last major storm, Hurricane Irma. Disaster relief charities Airlink, LIFT, Patient Airlift Services (PALS) and […]
The poor handling of Hanjin Shipping’s downfall left many shippers scrambling for alternative carriers when the industry was also being disrupted by new alliances and consortia.
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