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.
Third-Quarter Loss Widens for Truck Maker Hyzon
Third-quarter losses at Hyzon Motors Inc. increased to $41 million from $25 million in the year-ago period as the Class 8 hydrogen FCEV manufacturer eyes the start of serial production.
Maryland Governor Commits to Labor, Infrastructure Projects
Maryland Gov. Wes Moore on Nov. 13 announced Baltimore’s commitment to its designation as a Workforce Hub through investments in career and technical education and training for local workers.
UAW, Mack Trucks Ratify New Collective Bargaining Agreement
Mack Trucks on Nov. 15 announced that members of the United Auto Workers union ratified a new five-year collective bargaining agreement with the company, covering about 3,900 employees.
Container Shipping Seeing Major Cuts After $364 Billion Boom
The container shipping industry, after two years of record-high freight rates and slow deliveries, is seeing its boom become a bust due to oversupply following the COVID-19 demand highs.
Iowa Extends Agricultural Transport Proclamation
Iowa Gov. Kim Reynolds extended again the state’s annual harvest proclamation through Dec. 11 enabling overweight load limits on the transportation of grain, fertilizer and manure.
ConMet Buys TruckWings Creator TruckLabs
Heavy-duty commercial truck and trailer component manufacturer ConMet bought TruckLabs, whose products include the tractor-mounted TruckWings aerodynamic device, it said.
Two Sentenced to Prison in Staged Accident Schemes
Two people in separate allegations of participation in staged accidents with tractor-trailers in the New Orleans area have been sentenced to prison and ordered to pay significant restitution.
Class 8 Sales Drop for Third Straight Month During October
Class 8 retail sales in October declined from the year-ago period for a third consecutive month, Wards Intelligence data showed.
$50 Million Federal Grant Will Help Modernize Delaware Port
Delaware officials announced a $50 million federal grant to help pay for a container terminal expansion project to enable the century-old Port of Wilmington to handle larger vessels.
Tesla Facing Strikes in Sweden Over Collective Bargaining
Pressure is growing on Tesla in Sweden, where a trade union is demanding that the Texas-based automaker sign a collective bargaining agreement, which most employees in the country have.
November 13, 2023