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.
Port of Virginia Sets Volume Record for July
Several major U.S. ports reported mostly higher cargo volumes in July compared with a year earlier, highlighted by a record month in Virginia and rising imports in California.
MercuryGate Countersues J.B. Hunt for $5 Million
MercuryGate International has countersued J.B. Hunt Transport Services Inc. for $5 million as part of a disagreement over the effectiveness of an information technology system MercuryGate sold the motor carrier to support its brokerage unit.
August 19, 2015Cass Truckload Linehaul Index Rises 3.6% in July
The Cass Truckload Linehaul Index, a measurement of changes in base linehaul rates, rose 3.6% year-over-year in July, according to Cass Information Systems.
August 19, 2015Spot Load Availability Increases; Rates Fall
Van and reefer load availability increased for the third consecutive week, but so did the availability of equipment, DAT Solutions reported. The availability contributed to lower national average spot market rates for van, refrigerated and flatbed loads.
August 19, 2015Volvo’s North American Deliveries Rise 1% in July
Volvo Group’s North American truck deliveries rose 1% in July from the same month last year, the company reported Aug. 20.
August 19, 2015Vital I-65 Indiana Trucking Corridor Closed Till Mid-September
The Indiana Department of Transportation estimates it will be mid-September before a 50-mile northbound section of I-65 between Lebanon and Lafayette, Indiana, is reopened.
August 18, 2015One-Third of States Have Taken Their Own Highway Funding Action, Analysis Shows
A state-by-state analysis conducted by The Associated Press shows that nearly one-third have approved their own measures this year to raise funds for highway and bridge work while federal funding remains uncertain.
August 18, 2015UPS Completes $1.8 Billion Coyote Logistics Acquisition
UPS Inc. announced it has completed the $1.8 billion purchase of third-party provider Coyote Logistics to expand the package carrier’s presence in the domestic brokerage market.
August 18, 2015Jet Express' Kevin Burch Leads Coalition Opposing Marijuana Legalization in Ohio
Ohioans will be voting in November on whether to legalize marijuana in their state, and several coalitions are rallying to oppose the amendment, including representatives from trucking.
August 18, 2015Kane Is Able Sues Volvo, Others After CNG Truck Fire
Trucking and logistics operator Kane Is Able Inc. has sued Volvo Group North America, Cummins Westport and Agility Fuel Systems in connection with the fire and explosion of a CNG-powered tractor earlier this year, seeking to recover damages related to the incident.
August 18, 2015