Truckers Face Wide-Ranging Challenges From Stranded Hanjin Freight
Truckers who are being challenged on multiple fronts by bankrupt Hanjin Shipping’s stranded cargo that they already have are facing additional obstacles as U.S. ports take a variety of approaches to accepting or releasing the Korean carrier’s goods that are on the docks or afloat nearby.
Teamsters Leadership Candidates Trade Barbs in Only Debate Before Election
WASHINGTON — Teamsters leadership candidates who squared off in the only debate before the fall union election blended their focus on key issues such as retiree pensions with exchanges about their past deeds and frequent name-calling.
Truckload Pricing Ticks Up After Pressure in First Half
Recent reports that track freight rates could be showing initial signs of improvement in truckload pricing, which has been under intensified pressure this year.
Competition Intensifies in Factoring Sector as Conditions Weaken in Trucking Market
Competition is intensifying in the factoring sector as freight markets shift, said a number of executives whose businesses offer fleets upfront invoice payments for a fee.
N.Y. Teamsters Fund to Seek US Approval to Slash Retiree Pension Benefits By 31%
The New York State Teamsters Conference Pension and Retirement Fund later this month plans to seek federal approval to cut retiree pension benefits by 31%, becoming the second trucking union planning to announce that step as a way of preserving future benefits.
Intermodal Shipments Fall 6.1% in 2Q
Intermodal freight shipments fell 6.1% in the second quarter from a year earlier, ending a string of 25 consecutive quarterly increases, hurt by fewer international and trailer shipments, the Intermodal Association of North America reported.
Jumbo Cargo Ships Crossing Daily as Panama Canal Use Ramps Up
Initial containership traffic through the expanded Panama Canal is averaging about one larger vessel per day during a ramp-up period that should be followed by exponential growth in the months and years ahead.
UPS Raises 2Q Net Income on Higher Package Volume
UPS Inc. boosted net income in the second quarter by 3.2% to $1.27 billion, or $1.43 per share, helped by internal company improvements as well as stronger international and domestic package profitability.
STB Proposes Plan That Could Boost Rail Competition
Five years after a shipper-backed proposal seeking to enhance rail competition, the Surface Transportation Board has proposed a new regulatory process that could open the way for more service options for those served today by just one railroad.
June Tonnage Rises 2.1%
June’s 2.1% year-over-year increase in American Trucking Associations’ tonnage index represents another upward tilt in the uneven 2016 freight market that experts characterize with words such as “choppy,” “seesaw” and “zigzag.”