$3.3 Trillion Needed for Infrastructure Over Next Decade, Says Society of Civil Engineers
An investment of $3.3 trillion is needed over the next 10 years to ensure sound infrastructure nationwide, a report released May 10 by the American Society of Civil Engineers found.
May 10, 2016Capitol Agenda for the Week of May 10: Pay Me Now or Pay Me More Later
The high cost of repairing our nation's crumbling infrastructure stands in the way of arriving at solutions. But failure to act will carry an even higher cost. Here's the week ahead for trucking on Capitol Hill.
May 10, 2016Outlook for Kansas DOT Bonds Goes Negative
In response to an additional $553 million in planned transportation projects being delayed because of the state’s budget crunch, Moody’s Investors Service downgraded its outlook for Kansas highway bonds from stable to negative.
May 9, 2016Diesel Rises 0.5¢ to $2.271
The U.S. retail diesel average inched up 0.5 cent to $2.271, the Department of Energy said.
May 9, 2016Zero-Emission Electric Drayage Trucks Coming to California
California's South Coast Air Quality Management District, which includes the ports of Los Angeles and Long Beach, announced that it would receive $23.6 million from the state for a zero-emission drayage truck development and demonstration project.
May 9, 2016Truckload Freight Rates Remain Under Pressure, Freight Survey Finds
A freight survey that assesses dry van and refrigerated freight rates based on spot market and contract prices shows that business conditions hit a new low for fleets as the first quarter ended.
May 9, 2016Treasury Department Rejects Central States Pension Fund Plan to Cut Teamsters Benefits
The U.S. Treasury Department, through Special Master Kenneth Feinberg, has rejected Central States Pension Fund’s proposal to cut benefits for 270,000 Teamsters retirees, often by half, saying the plan presented to the government failed to meet the requirements of a 2014 law.
May 9, 2016New Fuel Tool Provides Fleets Climate Emission Data
The nonprofit network Business for Social Responsibility said it launched an interactive database called Fuel Tool to support the transition to low-carbon commercial road freight.
May 9, 2016Oil Trades Near $45 as Canada Wildfires Temper Global Surplus
Crude traded near $45 a barrel May 8 as Canadian wildfires knocked out about 1 million barrels a day of production, outweighing the new Saudi Arabian oil minister’s pledge to maintain the country’s policy of near-record output.
May 9, 2016Maersk Earnings Fall, Hurt by Weaker Ocean Freight Rates
Danish firm Maersk Group, owner of the largest ocean carrier, earlier this month reported first-quarter earnings plummeted nearly 90% to $224 million, weighed down by an even greater profit decline at Maersk Line due to downward pressure on container freight rates.
May 9, 2016