Business

The value of global trade is set to reach a new record this year, increasing by about 12% to an estimated $32 trillion, according to a U.N. report that signaled a slowdown heading into 2023.

Freight mobility technology company Einride announced it secured $500 million in financing, including a Series C equity raise and a debt facility.

American Trucking Associations, the Association of Bi-State Motor Carriers and the Harbor Trucking Association jointly support a recently released Notice of Proposed Rulemaking from the Federal Maritime Commission that seeks to expand the timeliness and overall level of detail and transparency for detention and demurrage invoices coming from common carrier billing parties that provide ocean carriage and storage of freight. 

Fuel economy for 2021 model year vehicles in the U.S. stayed flat with 2020 as people continued to buy less-efficient trucks and SUVs, according to an annual government report published Dec. 12.

The early December oil spill in Kansas means that TC Energy Corp.’s Keystone pipeline has now leaked more crude oil than any other conduit on U.S. land in the past 12 years.

Vision Truck Group is the first certified electric vehicle dealer in the greater Toronto area for truck makers Volvo Trucks North America and Mack Trucks. Both are units of Volvo Group.

Grote Industries announced an expansion of its engineering design center and production facility in Apodaca, Mexico.

Texas Gov. Greg Abbott declared that a newly announced $4 billion green hydrogen production facility for mobility and other industrial markets will help the state retain its national leadership role in energy.

The storm that drenched California, dropped snow by the foot across the Sierra Nevada and knocked out power to thousands is drifting east, threatening to bring tornadoes to some areas of the U.S. later this week.

A.P. Moller-Maersk A/S CEO Soren Skou will step down and will be replaced by Vincent Clerc, the current head of the transport giant’s ocean and logistics business.