Fuel

The day rate for a standard tanker east of the Suez Canal jumped 57% in the week to Oct. 9, as issues related to U.S. sanctions on units of China’s COSCO Shipping Corp. start to hit just as the heating season begins to boost demand.

Giant oceangoing tankers built the liquefied natural gas industry into a $150 billion-a-year business. The next expansion opportunity may come from ships a seventh of the normal size.

UPS Inc. announced it will spend $450 million to add 6,000 vehicles powered by compressed natural gas as well as supporting infrastructure beginning next year.

Penske Truck Leasing is growing its electric vehicle fleet with the addition of the Kalmar Ottawa Electric Terminal Tractor (T2E).

SAN DIEGO — American Trucking Associations announced the launch of a new affinity program through which member organizations can partner with the federation and UrbanVolt — a Dublin- and Chicago-­based energy service company — to curtail energy costs.

In “America’s Rolling Warehouses: Opportunities and Challenges with the Nation’s Freight Delivery System,” the Washington, D.C.-based group TRIP concluded that significant sustainable funding at the federal level will be key to enhancing connectivity along freight corridors in the coming years.

SAN DIEGO — Mack Trucks has introduced an extended chassis fairing option for its Mack Anthem models to enhance fuel economy through improved aerodynamics.

The U.S. average retail price of diesel slipped 1.9 cents to $3.047 a gallon, the Department of Energy reported Oct. 7, marking the third consecutive decline whereby the price has fallen 3.4 cents a gallon in the period.

Volvo Cars and China’s Geely plan to merge their engine operations into a stand-alone company, a step the Swedish automaker says will cut costs as it shifts to a fully electrified lineup.