The economic roundup is a monthly summary of the various factors that affect freight demand and supply in the economy. Data releases in August showed an economic that was performing generally well, but softness in housing and trade are likely to impact freight demand.
Mexico will enact a law regulating truck drivers’ hours of service this week. It is the first law of its kind in Mexico, as driving time has never been managed on the federal level before.
The Freight Movement is in partnership with Arrive Logistics …The continued speculation over global trade and tariffs has increased the uncertainty that manufacturers and the businesses that support them face, but it hasn’t dampened optimism.
Redwood Logistics recently announced the launch of Redwood Mexico, a new service aimed at untangling the complicated process of shipping to and from Mexico.
Canada, Mexico, China, and the European Union are among those who have instituted retaliatory tariffs on cranberry imports coming from the United States. FreightWaves spoke with Kellyanne Dignan, Ocean Spray’s Director of Global Corporate Affairs, who provided the company’s perspective on the issue.
Amid the Moroun’s lawsuits and the ad appealing to President Trump on “Fox and Friends,” ground is being broken in Detroit this week, and construction on the Gordie Howe International Bridge is anticipated to begin this fall.
The agreement will cover around 25% of the global economy, and, according to Bloomberg, by some measures the largest free trade area in the world.
China wants to consolidate the Asia-North America container trade and drive supply chain efficiencies by operating a container terminal in Long Beach, but national security concerns may scuttle the COSCO-OOCL merger.
Ag haulers are not only dealing with ELDs and hour-of-service uncertainty, but tariff talk is clouding the future outlook as well.
With transport stocks surging, some market watchers are hopeful that the current expansion period will continue despite downturns in the broader market earlier this year.
China and the United States issued a joint-statement regarding trade consultations and a desire to support bilateral trade between the countries.
The Federal Motor Carrier Safety Administration has formally extended an ELD waiver for livestock and insect haulers until Sept. 30, 2018, under terms of the waiver that was included in the Fiscal Year 2018 Omnibus Appropriations Bill.
A monthly synopsis of events and results in the macroeconomy from the past month and a discussion of implications for freight markets going forward. Results released in March were generally more favorable than the previous month and suggests that freight demand should remain strong going forward.
The US appears set to impose significant tariffs on China, raising the threat that the economy may find itself in a full-fledged trade war
Amsterdam-based TMA Logistics has officially unveiled its investment in the New Silk Road Initiative.
Britain’s pending withdrawal from the European Union spells traffic doom for Calais, according to the Calais port’s boss, Jean Marc Puissesseau.
UAE’s state-run enterprise, DP World, gained a new partner in the government of Ethiopia as the port developer and the Somaliland Port Authority reached a deal to develop Berbera Corridor.
European logistics company Stena Line has confirmed its initiative to test environment-friendly shipping vessels, the Handy Shipping Guide reports.
Livingston International Inc., a leading provider of freight forwarding, customs brokerage and trade-consulting solutions, announced today its membership in the Blockchain in Transport Alliance.
As the Trump administration makes public its intent to look at using tariffs to address what it believes are inequities in global trade markets, it set the stock market into a tailspin for good reason. We decided to lay out a basic primer and history lesson on tariffs.
Insurance & Risk Management presented by Reliance Partners … U.S. companies moving freight across the border need additional insurance to cover their Mexican drivers, even if it is only within the border zone
Wales First Minister Carwyn Jones was in Dublin, Ireland, last week due to “serious concerns” brought about by the possibility of a hard Brexit exit and its impact on trade.
Container Terminal Services has secured a contract to expand the Porto Umm Qasr in Iraq to handle more container volume.
The U.S. and South Korea are kicking off a renegotiation of their 2012 free trade agreement.
The nature of the ship-management business makes it hard for the companies to pay attention to details, thus accumulating uncontrolled expenses over time, reducing profits and making the overall process inefficient.
Paris-based global logistics group Gefco has confirmed its acquisition of Spanish transport logistics company GLT, the Handy Shipping Guide reports.
China-based, state-owned shipping behemoth China Ocean Shipping Company (COSCO) has acquired a 49% stake in a landlocked port under construction in Kazakhstan, the New York Times reports.
Mexico’s ambassador to the United States told CBS News there is a 50% chance that the end result of NAFTA negotiations will be termination of the trade pact.
Oil prices finished 2017 above $60 a barrel for crude, surpassing their highest level in more than two years. Delivery of light, sweet crude for February was up 1% to $60.42 a barrel on the New York Mercantile Exchange. Brent crude was up 71 cents to $66.78 a barrel.
What began as an attempt to create a corridor from China to central Asia through infrastructure projects, has grown more ambitious and has encircled 65 countries across Asia, Africa, and Europe – all bearing China’s One Belt, One Road initiative.
The process of sending bills-of-lading with cargo has changed little in generations, but the problems have remained: BOLs arrive at different times than the cargo, causing delays and added cost. But blockchain could eliminate these expenses and streamline the process.
The growth in cargo volumes at London’s Heathrow Airport has created severe congestion across the region, which has the airport facing a dire situation due to long queues, which is increasing waiting times and thus delaying an already slow-moving air freight operation.
Used-truck sales volumes continued their upward trend in October, but the industry is still facing an oversupply of vehicles, according to ACT Research. Class 8 same dealer used truck sales increased 12% month-over-month and 37% over October 2016, the firm said.
As the talks concluded last week on Round 5 of the North American Free Trade Agreement (NAFTA), the 3 NAFTA ministers included among the 30 negotiating parties agreed to “step back” to give negotiators additional time to “analyze proposals and conduct internal consultations,” according to LandLine Magazine.
Global freight and logistics company DHL has confirmed its investment to the Airport Authority Hong Kong for the latter’s expansion plan for the Central Asia Hub, the Handy Shipping Guide reports.
Blockchain is digital ledger that can improve global trade security, stop illegal smuggling, and more importantly, reduce transit times currently bogged down by bureaucracy.
According to a recent report by Bloomberg, American negotiators are advocating to remove Mexican long-haul trucks from the NAFTA Chapter on cross-border services.
As the Chinese economy rises and more people in the world’s largest nation move into the middle class, the demand for foreign goods escalates. In response to domestic demand and pressure from the U.S. to lower the trade deficit, China is opening its doors to American beef.
McKinsey & Company has issued a landmark report predicting sweeping changes amid steady growth in the container shipping industry over the next 50 years.
We need NAFTA. That was the general consensus from Bob Costello and Derek Leathers on Sunday during a general industry update session at the American Trucking Associations’ MCE 2017 conference in Orlando.
Some of the most prominent stakeholders in Canada voiced their concerns over NAFTA at an event organized by the Truckload Carriers’ Association (TCA) entitled “Bridging Border Barriers.”
Globalization and digital transformations go hand in hand. As companies expand their global reach, they must also mature digitally. Making that digital transformation is becoming easier with blockchain.
The Belt-And-Road Initiative is proving to be an ambitious plan. But there is no stopping the Chinese government as it has secured a joint venture deal with Hong Kong-based rail company MTR. The deal will result in connecting major cities in Asia within the area defined by the initiative.
Singapore might be world’s smartest city. When you think of tech, you reflexively picture Silicon Valley. While Palo Alto may reign in the west, a tiny island nation of 5.6 million leads the east… and it’s turning to blockchain.
The Trump administration is considering tariffs on foreign steel as a way to boost the purchase of American steel. But will this Buy American approach lead to an in increase in vehicle and other manufacturing costs?
Just days after the U.S. Department of Transportation announced it would no longer seek a federal rule to test train and truck operators for sleep apnea, Sen. Minority Leader Chuck Schumer (D-NY) blasted the agency and demanded it reconsider the rule.
The long-awaited U.S. outline for the goals of a renegotiation of NAFTA has been unveiled, and there are few surprises in the 17-page document. The document outlines the U.S. top priority of shrinking trade deficits with Canada and Mexico.
McKinsey & Company has recently issued a report on potential impacts to the trucking and rail freight industries in the U.S., Canada and Mexico. The report, “Four forces to watch in trucking and rail freight,” identifies critical structural issues that executives must pay attention to in the immediate future.
The recent surge in U.S. oil drilling has helped keep gas and diesel prices depressed, despite oil production cuts by OPEC. This infographic provides a quick glimpse of what is happening in the sector.
Volvo Group is testing a self-driving refuse truck. The truck allows a driver to walk behind the vehicle collecting refuse container. Also, it may be easier to test truck drivers for sleep apnea following a court ruling and the prospects for industry growth are perking up.
This Week in Trucking, the U.S. and China have announced a trade deal centering on natural gas, financial services and beef. Also, a renewed push is on to approve hair testing in driver drug screenings and the rapid rise in last-mile delivery services is leading to plenty of new entries to the market.
President Donald Trump’s decision to place softwood lumber tariffs on Canada this week might be an indication that the administration is set for a reset on the North American Free Trade Agreement (NAFTA). It is a gamble that potentially puts billions of dollars in NAFTA trade shipments at risk – much of it hauled by trucks.
For anyone in the trucking industry, there is one constant: change. Rates change. Customers change. Freight flows change. But why is there so much change? This graphic answers some of those questions.
Schneider National Inc. is the first transportation provider to issues shares in an initial public offering since 2010, according to data compiled by Dealogic. But, will it be the last? The time may be ripe for more companies to dip their toes in the water.
The U.S. has pulled out of the Trans-Pacific Partnership trade agreement. But is that a wise decision? Experts differ on the manufacturing impact in the U.S.
