Freight car deliveries will reach nearly 60,000 units by 2022, driven by strength in boxcars, covered hoppers, mill gondolas, intermodal equipment, and tank cars, according to the most recent forecast issued by Economic Planning Associates.
Author Archives: Jeffrey Goh
Second quarter intermodal volume growth picked up where the first quarter left off: heading in the right direction and going strong. That was one of the key takeaways from theIntermodal Association of North America’s (IANA) quarterly “Intermodal Market Trends & Statistics Report,” which was released this week.
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending July 28, 2018, as well as volumes for July 2018. U.S. railroads originated 1,048,293 carloads in July 2018, up 3.5 percent, or 35,208 carloads, from July 2017. U.S. railroads also originated 1,108,142 containers and trailers in July 2018, up 6.9 percent, or 71,782 units, from the same month last year. Combined U.S. carload and intermodal originations in July 2018 were 2,156,435, up 5.2 percent, or 106,990 carloads and intermodal units from July 2017.
Uber officials said July 30 it is closing its autonomous trucks segment to concentrate on its self-driving cars. Uber told CNN, NBC and other news outlets that it wants to focus all its expertise and energy on deploying self-driving cars, adding the company had concluded that is “the best path forward.” Uber acquired the autonomous trucking startup Otto in August 2016 and shortly afterward began developing and testing self-driving trucks, including a test run in Colorado carrying Budweiser.
You never get a second chance to make a first impression. That old chestnut could have served as the title to Stay Metrics’ latest white paper. Instead, the analytics firm, which specializes in driver retention, engagement and training, went with a couple of cover-page questions: “Is Early Turnover Damaging the Business? How and What Can We do to Stop it?” The report, released July 13, is based on a statistical premise that would come as a surprise to no one in trucking: the industry has a turnover problem. It reached a “historic high” of 95 percent in the third quarter of 2017, the report says in its opening statement.
A shortage of truck drivers that has been simmering in the U.S. for years has reached a full boil, causing anxiety from small factories to the Federal Reserve. Trucking companies have responded by raising wages and boosting their hauling fees. Their customers then have to choose between smaller profits or passing along the higher costs, which fuels inflation.
In an exclusive interview at the launch of the Chicago Entrepreneurs of Color Fund, JPMorgan Chase CEO Jamie Dimon tells CNN’s Christine Romans why he believes the strong economy may be sustainable.
The BEA’s report last week on GDP by Industry showed that real manufacturing output (value added) in the US reached an all-time record high of more than $2 trillion (in 2009 dollars) in the first quarter of this year.
FedEx extended its position as the world’s busiest freight-parcel carrier in 2017 (see table at end of article), while Emirates maintained its lead in terms of pure cargo despite Qatar Airways rapidly closing the gap on its Middle East rival. As expected, the latest figures from IATA’s World Air Transport Statistics report shows that the vast majority of carriers in the top 25 list recorded an increase in cargo traffic last year as the sector enjoyed a boom in demand.
A move by a major western Class I railroad to restrict certain tank cars could pinch available capacity as shippers ramp up crude oil volumes. Following a June derailment in Iowa, BNSF Railway is moving to limit the use of older tank cars retrofitted to upgraded DOT 117 federal safety standards, Reuters reported. The move by BNSF comes as lease rates for the new cars have more than doubled since late 2017.