Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to the latest annual Container Forecaster and Review 2016/17 report published by global shipping consultancy Drewry.
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Trucking executives are ranking 2016 as one of the more disappointing years for the industry after having high hopes that bulging volumes and profits of last year would continue.
The US Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and the Federal Motor Carrier Safety Administration (FMCSA) today proposed equipping heavy-duty vehicles with speed limits on US roadways. Both organizations say speed limiters are a safety measure that could save lives and more than $1 billion in fuel costs each year.
Federal regulators should consider how the sharp decline in coal traffic is affecting the nation’s railroads, BNSF Railway CEO Matthew Rose said in Houston at the annual Intermodal Expo, which was sponsored by the Intermodal Association of North America (IANA).
U.S. House Rep. Jaime Herrera Beutler, R-Wash., is urging the Department of Transportation (DOT) to consider further regulation of freight trains carrying crude oil.
Beutler earlier this week sent a letter to U.S. Transportation Secretary Anthony Foxx, Federal Railroad Administrator Sara Feinberg and Pipeline and Hazardous Materials Safety Administrator Marie Therese Dominguez asking DOT to study potential methods for reducing the combustibility of crude oil trains.
Most fleets are operating on thin margins and that is not likely to change anytime soon. Yet many of them are missing an opportunity to add to their bottom line because they don’t have complete control over their procurement process. If managed efficiently, the procurement process – what is purchased, how it is purchased, who makes the purchasing decisions – impacts profitability.
With macroeconomic indicators as mixed as they have been in several quarters, data issued this week by the American Trucking Associations pointed to truck tonnage volumes pointing up in August. Seasonally-adjusted (SA) for-hire truck tonnage in August at 141.8 (2000=100) was up 5.7 percent over July, which was down 2.1 percent compared to June.
Taiwanese ocean carriers Evergreen Line and Yang Ming have added new functions to their websites in response to service disruptions caused by Hanjin Shipping’s insolvency. Evergreen said in a press release its new e-commerce functions enable customers to update the status of their cargo and Hanjin’s vessel positions, including anchorage information. In addition, Evergreen said it has established detailed service plans within its own network as an effective substitute to cover the affected services operated by Hanjin.
With 13 of the top 20 container lines reporting combined losses of $2.5 billion in the first half alone, industry losses will likely range from $8 billion to $10 billion for the full year, according to Lars Jensen, CEO of SeaIntelligence Consulting.
During Sept. 11-17 law enforcement agencies across North America will conduct brake inspections of large trucks and buses. They will be looking for out-of-adjustment brakes, and brake-system and anti-lock braking system (ABS) violations as part of the Commercial Vehicle Safety Alliance’s (CVSA) Brake Safety Week.