Tuesday, July 12, 2011
The container shipping industry is not the only segment of ocean carriage under severe pressure, said Moody's Investors Service
Amid gathering fears that America's economic recovery may be sputtering, California exporters posted their 19th consecutive month of healthy year-over gains in May.
Non-asset based third party logistics (3PL) and transportation services provider Greatwide Logistics Services recently announced that John P. Tague has been named to succeed Leo Suggs as CEO. Suggs will remain in his role as Greatwide chairman, according to company officials. Tague comes to Greatwide from United Airlines, where he served as president and was responsible for all airline management functions. In eight years at United, he served in various roles, including chief operating officer and chief revenue officer.
Import cargo volumes at major United States-based container ports are expected to remain at the same levels they were at a year ago this summer, with subsequent increases in the fall, according to the monthly Port Tracker report by the National Retail Federation (NRF) and Hackett Associates.
Following flat traffic growth on an annual basis in May, the Association of American Railroads (AAR) reported that both carload and intermodal volumes in June were up compared to the same timeframe last year.
Diesel prices went up for just the second time in ten weeks, according to data from the Department of Energy’s Energy Information Administration (EIA).
Monday, July 11, 2011
When the National Industrial Transportation League’s ocean transportation committee meets next month in Louisville, Kentucky, the agenda will be rich indeed.
At a time when the freight railroad industry is seeing more than its fair share of regulatory action, rail shippers received some good news last week, when the Surface Transportation Board said it is reducing the fee shippers pay to file a railroad rate or unreasonable practice complaint from $20,000 to $350—while maintaining its $150 filing fee for an expedited small rate case.
Six more companies have joined the National Clean Fleets Partnership.
YRC Worldwide has obtained commitments for a three-year, $400 million asset-based loan (ABL) facility that will replace its current asset-backed securitization (ABS) facility.