Port Executives Optimistic for Q2 Despite Lower Cargo Volumes
At the 2023 American Association of Port Authorities’ annual legislative summit, a panel of port executives gathered to discuss the performance of the first quarter and make predictions for the next three. While some executives mentioned specific areas of concern, the overall consensus was optimistic. George Pasha IV, President and CEO of the Pasha Group, […]
Minnesota Train Derailment: Investigation Underway as Hazardous Material Spills
A train carrying ethanol derailed and caught fire in Raymond, Minnesota, around 1 a.m. on Thursday, March 30, 2023, prompting a mandatory evacuation of the city of about 800 people. Four cars containing ethanol ruptured and caught fire, and there is a risk that four additional cars containing ethanol may also release. 14 of the […]
Owner-Operators at a Disadvantage in Today’s Freight Market
According to a survey conducted by the Owner-Operator Independent Drivers Association (OOIDA), the freight market is working against owner-operators. Over half of the survey’s respondents reported negative feedback for 2023, citing concerns such as high fuel costs, inflation, increased regulation, capacity, and a lack of demand. Many owner-operators are not willing to operate at a […]
Norfolk Southern Faces Legal Action Over East Palestine Train Derailment
The state of Ohio has filed a lawsuit against Norfolk Southern railway company following the train derailment in East Palestine, Ohio. The incident, which occurred back in January, caused a significant amount of damage to the area. The lawsuit alleges that Norfolk Southern was negligent in its operation of the train and failed to take […]
Freight Outlook Not Optimistic from Carriers
Demand is slowly returning – a great sign in terms of the economic rebound. However, capacity is still up, which means many carriers are not feeling the effects of increasing demand yet. The Outbound Tender Rejection Index measures the percentage at which tender is rejected by carriers in regard to available capacity. Currently, it is […]
Bill to Lower Minimum Driving Age Reintroduced
A bill was reintroduced into congress that proposed to allow 18-to-20-year-olds to haul containers to and from ports. It is propositioned that opening the line haul field to a new, younger demographic would help to solve some of the issues with recruiting and keeping new truckers; especially after years of experiencing sever driver shortages and […]
Trucking Jobs Affected by Freight Levels
Driver recruitment is predicted to slow into the first quarter of 2023 as freight demand continues to return back to pre-pandemic levels. With the previous efforts to raise compensation in order to entice drivers to stay in their jobs, as well as to appeal to new drivers, trucking companies anticipate allocating funds away from recruiting […]
Tanker Rates Decreasing In Spite of New Restrictions
An EU ban on seaborne imports of Russian crude went into effect on December 5th, 2022, in hopes that this market-altering event would hike the crude tanker rates. Not only has there been no sign of rate hikes almost 30 days later, but tanker rates have gone down double digits since the Russian restrictions went […]
Gulf Coast Ports Continue Strong Gains
Gulf coast ports have continued to trend upward with container volumes from October through November. This can be attributed to an increase in imports such as steel, plywood, and bagged goods, as well as an increase in exports of petroleum and crude oil. “Our volumes continue to be strong — we continue to hear about […]
Fall Season Profitable for East Coast Ports
According to the Georgia Ports Authority (GPA), Fall shipping season has been extremely profitable for U.S. ports on the East and Gulf coasts. Ship berthing time has gone down, new and expanding businesses are utilizing the anchorages, and increased capacities coming online next year have added to the attractiveness of greater efficiency. GPA recently reported […]
