Canadian Lumber Tariff Raises Questions About Ramifications on Trucks, Railroads
The Commerce Department slapped a 20.83% tariff on Canadian softwood lumber Nov. 2, a decision that may boost the U.S. flatbed market but suppress demand for trucking and railroad companies that operate across the nation’s northern border.
November 9, 2017Longhaul Driver Pay Jumps 1.6% in Third Quarter
Longhaul truck driver pay rose in the third quarter as the truckload market tightened over the summer, setting the stage for a lift in salaries in 2018, according to the National Transportation Institute.
November 9, 2017Expeditors’ Profits Jump 12%, Beating Analyst Forecasts
Expeditors International of Washington reported strong earnings in the third quarter, with profits jumping 12% year-over-year, easily beating the consensus forecast of analysts.
November 7, 2017Schneider’s 3Q Profits Flat, Missing Consensus Forecast
Schneider announced profits were flat in the third quarter, missing the consensus forecast of analysts due to Hurricanes Harvey and Irma and higher driver pay and retention costs to gear up for the capacity crunch in 2018.
November 7, 2017Knight-Swift Profits Fall Sharply on Merger-Related Costs
The first quarterly report from Knight-Swift Transportation Holdings reported $3.9 million in earnings or 4 cents per share, including Swift’s contribution from after Sept. 8, 2017, although the results included a series of large multi-million dollar charges related to the merger.
November 6, 2017Port of Oakland, City Working With Residents to Adopt New Truck Policies
The Port of Oakland will embark on developing a truck management plan over the next 12 months to address complaints from citizens about big rigs on the streets of West Oakland.
November 6, 2017NYK Group Bids to Purchase 100% of Yusen Logistics
NYK Group will purchase the remaining shares of its freight forwarding subsidiary Yusen Logistics in a transaction that is expected to close in the first quarter of 2018.
November 6, 2017ArcBest Profits Surge 14%, Although Results Fall Short of Wall Street Forecast
ArcBest Corp. announced earnings in the third quarter rose 14%. Although it fell a penny short on the Bloomberg News consensus forecast, the results ended what was a fairly positive season for the less-than-truckload industry.
November 3, 2017YRC Profits Plunge 78% in Third Quarter
YRC Worldwide CEO James Welch was hopeful three months ago that the third quarter would be in line with the second quarter, but that was before two hurricanes wreaked havoc in Texas and Florida.
November 2, 2017CSX Pulls Support for Baltimore Tunnel Renovation
Federal and state lawmakers from Maryland expressed frustration at a decision from CSX Corp. to withdraw its support to fund the renovation of the Howard Street Tunnel near the Port of Baltimore, dealing another blow to the long-awaited project that would allow double-stack trains.
November 2, 2017