Business
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Forward Air Completes Acquisition of Omni Logistics
Forward Air on Jan. 25 announced the completion of its long-pending acquisition of Omni Logistics, with both companies’ leaders touting the benefits of the merger.
Nevada Lands Renewable Diesel Production, Distribution Hub
Nevada Gov. Joe Lombardo approved $11.7 million in tax abatements for Edgewood Renewables to help it create a biofuel refinery hub that would produce renewable diesel and sustainable aviation fuel.
ODFL Reports Slight Revenue Bump to $1.5 Billion for Q4
Old Dominion Freight Line experienced nearly flat earnings and a slight revenue bump to $1.5 billion during the fourth quarter of 2023, the company reported Jan. 31.
Oregon Trucking Stakeholders Sue State Over Road Taxes
The Oregon Trucking Association, along with three trucking firms, has sued the state and its top politicians, alleging that truckers have been charged more than their share of road taxes.
Container Boom Leads to Q4 Earnings Dip at Hapag-Lloyd
HAMBURG, Germany — The sharp drop in freight prices following the pandemic has caused a slump in sales and profits at German container shipping company Hapag-Lloyd.
Drivers Raise Funds to Help Ailing NTDC Competitor Singelais
With the start of the National Truck Driving Championships qualifiers a couple of months away, elite truck drivers from New England are calling for colleagues’ support for one of their own.
FHWA Releases Grants for Electric Truck Chargers
While federal officials were touting the latest round of electric charging infrastructure grants for cars in rural and other communities nationwide, there also was modest good news for trucking.
Texas Oil Regulators Ask State to Sue EPA Over Methane Rule
Texas regulators on Jan. 30 formally asked the state’s attorney general to challenge the Biden administration’s rule that seeks to lower emissions from the oil and gas sector.
Georgia Ports Handled Record Number of Automobiles in 2023
SAVANNAH, Ga. — The Georgia Ports Authority said that it moved a record number of automobiles across its docks in Brunswick in 2023, while goods sent to Savannah in containers declined 16%.
Freight Elite Struggle to Hit Climate Goals as Demand Surges
Although there are signs of progress, the largest delivery companies have scaled back climate pledges and the industry isn’t keeping pace with climbing emissions from a global demand surge.