China Wants Its Cargo Ships to Use Faster Northwest Passage in Arctic Ocean
BEIJING — China will encourage ships flying its flag to take the Northwest Passage via the Arctic Ocean, a route opened up by global warming, to cut travel times between the Atlantic and Pacific oceans, a state-run newspaper reported April 20.
April 20, 2016Crude Oil Rises to 5-Month High as US Output Slips
Oil climbed to the highest level in almost five months after a government report showed U.S. crude production fell and Iraq said talks to freeze output will be revived.
April 20, 2016Purchases of Previously Owned Homes Rebounded in March
Purchases of previously owned U.S. homes rose more than projected in March, indicating resilience in demand heading into the spring selling season.
April 20, 2016Canadian Pacific Railway Announces Buyback as Profit Tops Estimates
Canadian Pacific Railway, having failed in its bid to buy Norfolk Southern Corp., will buy back as much as C$1.31 billion ($1.04 billion) of its stock, confirming an effort outlined by CEO Hunter Harrison.
April 20, 2016Virginia Port Union Official Resigns After Audit Finds Unauthorized Fund
The business agent for one of six dockworker union offices in the Port of Virginia has resigned and will be removed from other union posts he holds after an internal audit found an “unauthorized and previously undisclosed account,” the port’s top labor official confirmed April 19.
April 20, 2016Sen. Susan Collins Says HOS to Be Tweaked in Fiscal 2017 Transportation Funding Bill, According to Reports
Hours-of-service regulation would be tweaked under a fiscal 2017 transportation funding bill a Senate subcommittee advanced April 19, according to Sen. Susan Collins as quoted in Politico.
April 19, 2016DTNA Opens New Headquarters Building in Portland
Daimler Trucks North America on April 19 officially opened its new headquarters building in North Portland, Oregon.
April 19, 2016Congestion Cost Trucking Industry Nearly $50 Billion In 2014
Congestion on the nation’s highways added more than $49.6 billion in operational costs for the trucking industry in 2014, according to research released on April 19 by the American Transportation Research Institute.
April 19, 2016Wabco Acquires Laydon Composites
Commercial vehicle supplier Wabco Holdings Inc. has acquired Laydon Composites Ltd., a manufacturer of aerodynamic devices for heavy-duty trucks and trailers.
April 19, 2016Paccar Changes Kenworth, DAF Leadership
Truck maker Paccar Inc. shuffled the deck on the leadership of its subsidiaries, sending Preston Feight to the Netherlands to serve as president of DAF Trucks and bringing Mike Dozier home from Australia to succeed Feight as general manager of Kenworth Truck Co.
April 19, 2016