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.
Private Equity Firm Acquires American Fast Freight
Private equity firm The Jordan Company said it has acquired American Fast Freight, an ocean freight forwarding company. Terms were not disclosed.
January 10, 2013Diesel to Average $3.87 This Year, DOE Says
Diesel fuel will average $3.87 a gallon this year, the Department of Energy said, raising a previous forecast by 3 cents.
January 10, 2013DOT Freight Transportation Index Rebounds
The Department of Transportation’s freight transportation services index rebounded in November from October, matching its year-ago level, DOT said Wednesday.
January 9, 2013Port Logistics Group Acquires Pacific Distribution Services
Port Logistics Group said it has acquired Pacific Distribution Services, a warehousing and transportation provider serving the ports of Seattle and Tacoma, Wash. Terms were not disclosed.
January 9, 2013Port of Long Beach Begins Work on $1 Billion Bridge Replacement Project
The Port of Long Beach, Calif., announced it has begun construction on a $1 billion project to replace its main bridge, the 45-year-old Gerald Desmond Bridge.
January 9, 2013Virginia Gov. McDonnell Proposes Eliminating Gasoline Tax
Virginia Gov. Bob McDonnell (R) announced a proposal Tuesday to remove the state’s gasoline tax, which would make Virginia the first state in the country to eliminate that tax.
January 9, 2013Illinois Cellphone Ban for Commercial Drivers Takes Effect
Commercial drivers in Illinois are banned from using hand held cellphones while driving, as of this month, the Illinois Department of Transportation said.
January 9, 2013Pa. Turnpike Truck Traffic Declines as Tolls Rise
Truck traffic on the western end of the Pennsylvania Turnpike has declined as tolls have jumped 35% for E-ZPass users since 2009, the Pittsburgh Tribune-Review reported.
January 9, 2013BNSF Projects Its Crude Oil Shipments to Climb 40% on Shale Boom
Burlington Northern Santa Fe railroad will boost crude-oil shipments by 40% this year, helping to offset declines in other cargo, Bloomberg News reported.
January 9, 2013Cass Freight Index Improves in December
December freight volumes grew modestly, according to the latest monthly freight index report from Cass Information Systems.
January 8, 2013