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.
July Class 8 Sales Tumble 39.8%
U.S. retail sales of Class 8 trucks fell 39.8% in July from a year earlier, WardsAuto.com reported, as the trucking industry struggles with an uneven economy and the effects of earlier overproduction.
Canada Plans to Require Use of Electronic Logs
Truck drivers in Canada will likely soon be required to be outfitted with electronic logging devices, with full implementation of a rule expected before the end of the decade, according to a Transport Canada official.
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.
STB Upholds Bill of Lading Changes
A last-ditch effort from two shipper groups to suspend changes to the bill of lading failed when the Surface Transportation Board denied their Aug. 12 request but offered an avenue to address their concerns later this year.
Volvo Trucks North America to Make New Factory-Fill Oil Available in October
Volvo Trucks North America said beginning in October it will offer a new factory fill engine oil, VDS-4.5, for its D11, D13 and D16 engines that exceed the new API specification CK-4.
August 19, 2016Vancouver Port Traffic Falls as Canadian Economy Struggles
Traffic through Canada’s biggest port fell during the first half of the year, hit by weak industrial activity at home and slackening demand for commodities in Asia, another sign of trouble for the nation’s sputtering economy.
Panama Canal Growth Pushes Texas Ports to Improve
The Panama Canal's recent expansion will create economic opportunities for South Texas but also pressures ports to step up improvements to their infrastructure, a panel of transportation industry experts said Aug. 18.
Trucking in Central Ohio Expected to Benefit From Federal Smart City Program
Much of the focus of the federal Smart City grant money recently awarded to Columbus has been on alternative transportation development for humans. But the logistics business, which involves moving goods rather than people, also stands to reap benefits.
American Central Names Wilt President as Kretsinger Steps Down Due to Health
Truckload carrier American Central Transport announced that Phil Wilt has been named president, succeeding Tom Kretsinger Jr., a well-known industry executive who held that position since 2005.
August 19, 2016FMCSA Denies Effort to Rescind 30-Minute Rest Break
Federal trucking regulators dismissed safety inspectors’ request to do away with a 30-minute rest requirement in an hours-of-service rule, the regulators indicated Aug. 8.
August 19, 2016