Hurricane season brings an increased risk to transportation energy in the United States, both from a supply and price perspective. FreightWaves spoke with Brett Wetzel, senior manager of applied knowledge for Breakthrough to understand the broader impact of Hurricane Florence.
FreightWaves is adding a team of analysts to map out the major sectors that drive demand in the freight economy
Uber Freight is gobbling up $500M per year; the US and China hit each other with a new round of tariffs; Georgia Ports extends its inland intermodal network; Saudi Arabia’s Aramco IPO indefinitely delayed; cannabis supply chains mature; Houston is now an oil exporter.
Starting this week U.S. sanctions against Tehran on sectors like automotive and aircraft are set to return following Trump’s decision in May to pull out of the nuclear agreement with Iran.
The summer slump continues; Steve Eisman explains why he’s shorting Tesla; Walmart discovers that last mile delivery is hard; once-exported U.S. cherries find domestic customers; oil trade routes are threatened by geopolitical risk.
Oil production faces volatile times, as multiple OPEC countries witness geopolitical problems and unstable governments, leading to the possibility of yet another rise in fuel prices.
Autonomous vehicle execs want you to know self-driving cars are very, very safe; China’s economic growth slows; Elon Musk talks about Tesla’s push to 5,000 Model 3s weekly; American oil bound for China needs to find new markets; DHL orders 14 Boeing 777s.
Oil prices fell by 6% yesterday after Libya’s National Oil Corporation announced the reopening of oil ports and recommencing the production of 700,000 barrels per day.
Sanctions and the Iranian rial’s collapse could remove supply from global oil markets, spiking prices and spurring more production in the United States.
Donald Broughton says that the oil boom and Trump tax cuts are driving a young industrial expansion cycle; shippers continue to adjust supply chains to minimize transport costs; Google invests $550M in Chinese e-commerce site JD.com; China may put a tariff on US oil imports; Brazil’s trucker strike shattered economic growth outlooks; Asia-North America container rates are softening.
As of late yesterday the Canadian dollar volatility began trending poorly throughout the night and into today, and the short-lived support fell.
Mexico, Canada, and the EU announce retaliatory tariffs; Dow Transports still above 200 day average; the US asks OPEC for a production hike; DHL remains largest air freight forwarder; containership loses 86 boxes in storm off Australia; how China beats US steel tariffs.
Oil, which helped drive a rally for stocks Wednesday, began pulling back ahead of U.S. supply data.
In the wake of the House Appropriations Committee allocating just $250 million for port projects, the AAPA is demanding additional funding from the government, to keep up with the spike in growth of multimodal freight.
Oil prices could go over $90 a barrel by 2020 due to IMO regulations that put a cap on the sulfur emissions in the shipping industry.
Volatility returns to commodity markets, with oil, aluminum, and nickel posting huge price increases. How long will these price shocks last, and how will they affect the economy?
Daseke has purchased Aveda Transportation and Energy Services, one of North America’s largest oil rig movers. This acquisition increases Daseke’s exposure to the oil and gas industries, which have a bullish outlook for 2018 and beyond.
KeepTruckin announced yesterday it secured $50 million in Series C financing—bringing the company’s total funding to $78 million.
The U.S. Energy Information Agency has released its Annual Energy Outlook for 2018, with projections to 2050. The EIA calls for massive growth in oil and LNG production and exports over the next few decades, which will be a boon for the trucking industry.
The American oil boom has already electrified the wider economy and increased demand for truckload miles; could it also stabilize fuel prices long term?
