All News Entries
Wednesday, July 20, 2011
Class I railroad carrier CSX got things rolling on the tracks with record-setting second quarter earnings of $506 million and $0.46 per share for a 28 percent annual gain. This topped Wall Street estimates in the $0.44 per share range.
The company yesterday rolled out an average GRI of 6.9 percent which will cover non-contractual shipments in the United States, Canada, and Mexico, with increases varying by lane and shipment type, according to company officials.
Washington finally seems semi-serious about infrastructure. There are dueling bills circulating on Capitol Hill, with Senate Democrats favoring a two-year, $109 billion proposal and House Republicans offering a six-year, $230 billion deal to replace the six-year, $286 billion transportation funding law that expired 23 months ago.
Tuesday, July 19, 2011
Just when U.S. exports are ramping up, comes news that the American Association of Port Authorities and the U.S. Department of Commerce’s International Trade Administration have signed a Memorandum of Intent at the Port of Oakland.
FedEx subsidiary FedEx Trade Networks, the company’s global trade arm, is taking steps to augment its ocean freight forwarding services in the form of a new Ocean Choices portfolio the company introduced today.
The average price per gallon for diesel went up 2.4 cents to $3.923 per gallon, following a 4.9 cent increase last week, which marked the single largest weekly gain since the week of April 4, when prices went up 4.4 cents to $3.976 per gallon.
It appears to be the season for less-than-truckload rate hikes, with Con-way Freight, the LTL subsidiary of freight transportation and logistics services provider Con-way Inc., announcing it is raising its rates by 6.9 percent, effective August 1.
Monday, July 18, 2011
After the critical shortages of containers of last year, production has picked up again, but high container prices and a tight ratio of containers to vessel slots will continue to constrain the availability of boxes
Spot market truckload volumes in June were the second-highest ever recorded in 2011 and in the 15 years they have been tracked by TransCore, the company recently reported.
Global supply chain and logistics services provider CEVA Logistics recently held its first global Supplier Awards ceremony. CEVA said these awards were launched as “part of its relentless quest for excellence” and are designed to recognize “impeccable execution, commitment, and strategic alignment among” its supplier base. LM Group News Editor Jeff Berman interviewed CEVA CEO John Pattullo about these awards and current trends and issues in the global 3PL market.