Linx Partners, a New York-based private equity firm, announced that it successfully sold its investment in Grammer Industries to Stellex Capital Management.
Despite an exceptionally strong year for trailer orders, Wabash National’s stock took a hit when the company guided downward for its Q3 results, blaming higher input costs and labor issues.
Industrial output continued to push ahead in September, signaling that one of the key drivers of freight demand remained solid at the end of the 3rd quarter. Production was restrained slightly by the impact from Hurricane Florence, but not enough to prevent growth in the sector from reaching a near 8-year high.
Retail activity eked out a meager gain for the second consecutive month, as a sharp decline in spending at restaurants weighed down the headline numbers. Retail conditions remain generally solid, however, as the sector looks poised for healthy growth to round out the year.
Rail seems to be benefiting from higher diesel prices and capacity constraints with SONAR data suggesting more loads are shifting to intermodal in shorter lengths of haul.
Massive scale, cyclical and structural advantages, and best-in-class technology make C.H. Robinson a ‘buy’ despite a transports selloff, say analysts at Stifel and Goldman Sachs.
The Dow Jones Industrial Average plummeted today, posting its biggest loss since May 29; meanwhile the S&P 500 is on a losing streak that hasn’t been matched in upwards of 2 years.
Data on producer prices shows that overall inflation pressure continued to stabilize at the end of the 3rd quarter, rising modestly in September. Rates within trucking posted stronger growth during the month, led by big increases in LTL pricing.
Gains in rates will moderate in coming quarters, but underlying issues of driver availability will keep market tight.
Differences remain in what is best path for drivers to follow, but all agree that port congestion is a problem that needs fixing.
Job growth stumbled in September as Hurricane Florence likely disrupted results during the month. Unemployment continued to trend down in the economy however, and labor market conditions remain generally tight. Hiring within trucking continued to advance during the month, growing for the 5th consecutive month.
Indices are clearly signaling that the container volume coming in through the Long Beach/LA port is surging and bodes well for the holiday shopping season.
The United States – Mexico – Canada Agreement (USMCA) protects multinational oil and gas companies’ investments in Mexico from incoming President López Obrador.
Survey data from the manufacturing and service sectors continue to point towards robust growth in the 3rd quarter. Manufacturing activity slipped slightly from multi year highs during the month, but service activity has pushed to record highs despite shortages in labor and trucking capacity.
Driver churn continues to plague the industry as the turnover rate at large truckload carriers has reached its highest point in five years.
Stifel’s John Larkin captivated the audience with a wide-ranging presentation on transportation and logistics across modes during Tuesday’s lunch at the McLeod User Conference 2018.
The depreciating Indian rupee coupled with rising fuel prices have hit the Indian transportation corridor quite hard. The Indian government is now coming up with new regulations and innovative transportation practices to ease pressure.
A roundup of economic data releases and events over the past month, and view of trends worth watching in October. Freight demand conditions remained generally solid during the month, though international trade and housing remain trouble areas. Supply within trucking looks to be expanding, and hires in the industry continued to climb
Tender volumes are taking many by surprise, but not those that understand what is happening with the use of ELD’s by small carriers, especially in the dry van segment.
Concerns over a global trade war have eased this morning, as Canada agreed late Sunday to join a trade deal between the US and Mexico. The deal makes modest revisions to the previous North American Free Trade Agreement (NAFTA), and clears up some of the uncertainty surrounding the trade environment.
