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.
Car Safety Systems Less Effective in Detecting Trucks
Better front crash prevention technology in passenger cars could prevent 5,500 rear-end accidents with medium and heavy trucks, according to the Insurance Institute for Highway Safety.
BP Names Murray Auchincloss Permanent CEO
LONDON — British oil giant BP said Jan. 17 its interim chief executive, Murray Auchincloss, will be given the job on a permanent basis to replace Bernard Looney.
Shipping CEOs See No Short-Term End to Red Sea Disruptions
The CEOs of two leading freight carriers said they expect Red Sea threats to disrupt shipping for weeks or months longer.
Global LNG Fleet Avoiding Red Sea With More Tankers Diverted
The global LNG tanker fleets appear to have stopped using the Red Sea and Suez Canal, as continued Houthi attacks on ships reroute flows of the power-station and heating fuel.
December Medium-Duty Sales Rise 9.1% Year-Over-Year
U.S. retail sales for medium-duty trucks rose 9.1% year-over-year in December while finishing 2023 some 8.4% higher than 2022’s full-year total, according to data from Wards Intelligence.
US Calls Houthi Shipping Threat an ‘All Hands on Deck’ Issue
The U.S. launched a new strike against the Yemen-based Houthis on Jan. 16, hitting anti-ship missiles in the third assault on the Iranian-backed group in recent days, the U.S. military said.
State of Freight Report Says 2024 Will Be an Unremarkable Year
Trucking’s lingering freight recession, combined with a steep decline in spot market rates for carriers over the last 18 months, is tightening capacity, according to FMCSA data and FTR Intel.
Truck Maker Xos Bolsters Finances as Deliveries Ramp Up
Classes 5-8 electric truck maker Xos obtained a $48.5 million capital infusion from serial e-mobility investor ElectraMeccanica, the companies said.
Murphy: NYC Congestion Pricing Plan Violates Constitution
New Jersey Gov. Phil Murphy is again pushing back on New York’s plan to charge motorists driving into Manhattan’s central business district, saying it violates the U.S. Constitution.
Washington State Sues to Block Kroger-Albertsons Merger
SEATTLE — Washington state Attorney General Bob Ferguson on Jan. 15 sued to block the proposed merger of Kroger and Albertsons, two of the nation’s largest grocery chains.
January 16, 2024