Monday, December 01, 2014
The biggest oil and fuel market story of 2014 was the 30+ percent decline in global crude oil prices experienced in the second half of the year. West Texas Intermediate (WTI) spot prices fell from just under $110 to $74 per barrel—a level not seen since the global recession cut a whopping 6 percent from global consumption back in 2009. This price decline has come largely at the hands of surging U.S. oil production and the fact that global demand has lagged due to significant deceleration in the growth rate of Chinese demand.
Carloads were down 0.3 percent annually at 295,812, and intermodal units, at 269,373 containers and trailers saw a 0.7 percent annual gain.
While it comes as no surprise that Thanksgiving weekend is commonly viewed as the true beginning of the holiday shopping season, it appears that, perhaps, the booming shopping volumes that come along with time spent with family and friends, too much turkey and football may take a bit longer to materialize than originally anticipated.
Posted on 12/01 at 10:52 AM
retail sales •
Recent US West Coast port congestion issues have temporarily reversed the long-term modal shift from air to ocean as shippers seek alternative ways to make sure their goods hit the stores in time for the US holiday season, note analysts at Drewry Supply Chain Advisors in London.
Wednesday, November 26, 2014
The Port of Oakland has undertaken a series of measures in recent years to attract more import volume.
Tuesday, November 25, 2014
The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement (NAFTA) partners Canada and Mexico increased 8.2 percent from September 2013 to September 2014 at $102.2 billion.
Posted on 11/25 at 12:26 PM
NS said that the D&H lines it plans to acquire connect with the NS network at Sunbury, Pa. and Binghamton, N.Y. and give NS single-line routes from Chicago and the southeast U.S. to Albany, N.Y., which is in close proximity to NS’ Mechanicville, N.Y.-based intermodal terminal.
This follows a 1.6 cent decrease last week, which was preceded by a 5.4 gain the week before and stands as the first increase going back to the week of June 23, when the weekly average headed up 3.7 cents to $3.919 per gallon.
Posted on 11/25 at 09:23 AM
Diesel Prices •
Monday, November 24, 2014
BNSF said that its 2015 capital expenditures will be allocated towards various areas of its business, including maintenance and expansion of the railroad to meet the expected demand for freight rail service, with 2015 representing the third straight year BNSF has invested a record annual capital expenditures investment.
While the ongoing labor negotiations between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) ostensibly going from bad to worse, following the ILWU’s announcement late last week that it was halting negotiations from November 20 through November 30, a Congressional group last week penned a letter to PMA and ILWU leadership expressing concern over the state of the negotiations.
Posted on 11/24 at 11:36 AM
Ocean Cargo •