Business

As cargo volumes continued to surge at the nation’s ports in January, the Biden administration on Feb. 23 announced plans to make $450 million available in new grant funding as part of the Department of Transportation’s Port Infrastructure Development Program.

Motor carriers can offset the rising cost of insurance premiums by continuously improving their overall safety practices and expanding use of smart technology, a new report said.

TravelCenters of America Inc. reported fourth-quarter net income soared and revenue nearly doubled.

Renewable Energy Group Inc., a green diesel maker, is exploring options after receiving takeover interest, including selling itself, according to a person familiar with the matter.

Dana Inc. reported mixed results in the fourth quarter as net income fell and revenue moved higher as the disrupted supply chain continued to hamper operations, and heavy-duty truck demand rose.

The U.S. Postal Service has finalized a contract to replace its mail truck fleet with almost all gasoline-powered models, drawing an angry response from Biden administration officials who unsuccessfully pushed the agency to buy electric vehicles instead.

A group of Republican senators urged Transportation Secretary Pete Buttigieg to revisit his department’s approach to aspects of an infrastructure law’s implementation.

Tenneco Inc. agreed to be acquired by affiliates of Apollo Global Management Inc., taking the auto parts supplier out of the public market after years of share declines and business upheaval.

Chevron Corp. is looking to show it can lower methane emissions at five oil well sites in Texas and Colorado as part of an industry push into “responsibly sourced” gas.

The number of containerships waiting at the ports of Houston and Charleston, S.C., reached new pandemic highs as importers looking to avoid bottlenecks on the West Coast encounter growing congestion in alternative gateways.