Celadon Group Gets Tax Breaks to Relocate in Indiana
Celadon Group will receive nearly $3 million in state tax breaks to move its headquarters to a larger site just east of Indianapolis under an arrangement that the trucking company will hire 375 employees over the next seven years, according to a recent filing with the Indiana Economic Development Corp.
January 20, 2017Hyundai Merchant Marine to Buy Minority Stake in Total Terminals International
Hyundai Merchant Marine will buy a 20% stake in Total Terminals International, agreeing to a $15.6 million deal with Mediterranean Shipping Co. on Jan. 19, one day after a U.S. bankruptcy court approved MSC’s purchase from the bankrupt Hanjin Shipping Co.
January 20, 2017Megaships Lucrative for Ocean Carriers, Challenging for Truckers, Ports, Panel Says
WASHINGTON — Megaships are good economically and environmentally for ocean carriers, but they pose significant challenges for ports and trucking companies, according to a panel of experts at the 2017 Transportation Research Board conference here.
January 16, 2017Longshoremen’s Union Pledges to Fight Port Automation as Execs Call it Inevitable
The head of the International Longshoremen’s Association plans to fight efforts to automate terminals as part of the negotiations beginning in February on a new contract to cover 65,000 dockworkers. However, a panelist at the 2017 Transportation Research Board conference described it as inevitable.
January 12, 2017Ports on Both Coasts Post Record-High Container Traffic in 2016
It was a record-setting year in 2016 for several of the top North American container ports, although the Hanjin Shipping Co. bankruptcy filing in August dashed hopes for a strong showing at the country’s second-largest port.
January 11, 2017Nonbank Lending Rises in Late 2016; Truckers Struggle for Traditional Loans
Nontraditional bank lending to trucking companies picked up moderately in the second half of 2016 as fleets sought to survive during a sluggish freight market, according to lenders with exposure in transportation financing.
January 9, 2017N.Y. Teamster Drivers Balk at Proposed Pension Cuts
The U.S. Treasury received nearly 700 comments before a Dec. 21 deadline on a proposal from the New York State Teamsters Conference Pension and Retirement Fund to reduce benefits to 34,629 active workers and retirees beginning this summer.
January 9, 2017Intermodal Shipments Drop 1.6% in 2016; Downturn Ends 4 Years of Record Growth
For the first time since 2009, the number of container and trailer units transported on intermodal rail fell on a year-over-year basis, according to 2016 totals from the Association of American Railroads.
January 9, 2017Trucking Executives Frustrated Shippers Trying to Lock In Low Rates
While many in the industry believe this year will be better than 2016, trucking executives are concerned about shippers trying to lock in low rates to get ahead of the curve on the contract market.
January 6, 2017Intermodal Traffic Drops in 2016, First Annual Drop Since 2009
After four consecutive years of record-breaking intermodal growth in the railroad industry, container and trailer traffic dropped 1.6% in 2016, according to data from the Association of American Railroads.
January 4, 2017