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.
Volvo Cuts North American Truck Market Outlook as Orders Slump
Volvo AB cut its outlook for the North American truck market for the third time this year after stagnant freight volumes and excess inventory drove orders in the region down by nearly one-third in the second quarter.
Housing Starts Increase More Than Forecast in June
New-home construction in the United States rose more than forecast in June, providing momentum for residential real estate near the end of its busy selling season.
Hyundai Merchant to Join Maersk Alliance
Hyundai Merchant Marine Co. will join the world’s biggest shipping alliance, meeting all conditions imposed by creditors as the company seeks to reduce debt after years of weak global demand caused losses.
Diesel Drops 1.2¢ to $2.402
The U.S. average diesel retail price slipped 1.2 cents to $2.402 as inventories of crude oil and refined products remain high, the Department of Energy reported.
July 18, 2016Minnesota Governor Forms Freight Rail Council
Minnesota Gov. Mark Dayton said July 15 he is creating a public-private group to improve communication, safety and economic development related to rail service across the state.
July 18, 2016J.B. Hunt Earnings Rise Less Than Expected
Higher profit from dedicated truckload business helped J.B. Hunt Transport Services Inc. to eke out a 1.5% second-quarter net income increase to $105.1 million, or 92 cents per share, but weaker than expected intermodal unit performance and other factors led the company to lower its 2016 earnings expectations.
July 18, 2016Port of Portland Lands New Air Cargo Carrier
A new air cargo carrier announced it would start twice-weekly service to Portland, offering a new route for Oregon goods headed for Asia.
Port of Baltimore's First Containership Through Expanded Panama Canal Carries Hope for Future
The arrival of the Ever Lambent, a massive green-hulled containership, in Baltimore on July 16 marks the end of a long wait and the beginning of what officials hope is a new era for the state-owned port.
What to Do With Empty Terminals in Oakland? Nothing, Port Says
The half-dozen giant cranes that once lifted huge containers of goods on 160 acres of East Bay waterfront now lie dormant.
El Paso Trucking Firm Opens $3 Million Terminal
An East El Paso trucking company opened its new, $3.1 million office facility and truck terminal July 14.