A railway network spanning Canada, the U.S. and Mexico is in the planning by Canadian Pacific and Kansas City Southern Railways. The two companies have entered into a merger agreement in which CP will acquire KCS for $29 billion and assume $3.8 billion of KCS debt. If approved by the Surface Transportation Board, it will […]
The Soo Locks will open 12 hours early this year due to safety and economic interests. The official opening is now scheduled for noon on March 24, instead of at midnight. A request for an earlier opening was sent to the Army Corps of Engineers by James H.I. Weakley, president of the Lake Carriers Association. […]
The deep freeze last month across a large swath of the U.S. showed how fragile the U.S. freight system is, said DAT Freight and Analytics. “In 2020, things bent but they didn’t break,” Ken Adamo, chief of analytics at DAT told Logistics Management. “In the last two weeks of February, things very much broke. Shipments […]
Ice coverage on the Great Lakes has been mild this year, but with the cold snap currently hitting the nation, total ice coverage jumped to 37.7%. On this day in 2020, ice coverage was 18.2% and in 2019, 49.3%. The amount of ice on the Great Lakes varies each year depending on winter conditions, but […]
Demand for flatbed trucks was fueled by residential construction in 2020, with nonresidential construction slipping from pre-pandemic rates. The Associated General Contractors trade group expects 2021 to be a difficult year for the construction industry with only three nonresidential market segments, water and sewer, warehouse and healthcare facilities, expanding. The latest report from the U.S. […]
Tonnage on the Great Lakes-St. Lawrence Seaway system dropped just 1.7 percent during one of the most challenging years in recent history. Shipments on the water system, including commodities such as grain, iron ore and coal, totaled 37.7 million metric tons in 2020. “The Seaway’s 62nd navigation season was one of the most remarkable in […]
November was a busy month for ports on the Great Lakes and St. Lawrence Seaway as businesses stockpiled year-end inventory prior to the closure of the 2020 shipping season. The Great Lakes Seaway Partnership reports international trade of agriculture and wind turbine components remained steady last month, while steel shipments increased. “As the 2020 Seaway […]
Trucking spot rates are easing for the first time in nearly 220 days, says DAT Trendlines. Signs of lower rates were seen on some key lanes for all three trucking types—van, reefer and flatbed during the week ending Dec. 6. “Despite load posts hitting a five-year record last week, increasing by 21 percent over the […]
2020 has been one of the most volatile years the freight markets have ever seen, but the issues of most concern to truckers remain largely the same. Retaining drivers and improving cash flow are the top two concerns among trucking companies polled this summer by industry information provider FreightWaves. “The market has experienced wild demand […]
North American freight volumes are almost back to 2019 levels, says Cass Information Systems. The September Cass Freight Index for shipments rose 7.1 percent from August to September and was just 1.8 percent below last year’s levels. The index recovered 27.6 percent since reaching a low in April. Cass expects shipments to remain strong through […]
The former AK Steel site near Kansas City is the location for a new Missouri River intermodal terminal thanks to a $9.88 million grant from the U.S. Department of Transportation to the Kansas City Port Authority. “Kansas City is already a major freight hub for the central United States, and this grant will help us […]
Dry bulk carriers followed a bit behind their container ship counterparts but are now rebounding in a colossal way. Dry bulk shipping jumped to a new high for the year on Monday with rates at $34,293 per day compared to under $5,000 per day through the first and second quarters. Rates were 127 percent higher […]
Iron ore shipments on the Great Lakes fell by more than 40 percent in August compared to a year ago, said the Lake Carriers’ Association. Shipments transported by the U.S.-flagged fleet totaled 3.6 million tons and were 37.9 percent below the five year average for August. Year-to-date figures show a 25.9 percent decrease through August, […]
Spot rates continued to rise for all truck categories in September. Spot load posts were up 1.4 percent in the week ending Sept. 6 versus the last week of August, while spot truck posts increased 1.6 percent on the DAT Loadboards. Hurricane Laura-related disruptions added volumes to the market pushing up spot prices, especially for […]
Ports on the West and East coasts were overwhelmed by a surge of imports in July and the trend is expected to continue into September. The Ports of Los Angeles and Long Beach report congestion and full warehouses due to a 40 percent increase in Asian imports from May to July. Chassis shortages are common […]
Shipping on the Great Lakes is feeling the stress of a pandemic-weakened steel industry. Automotive shutdowns this year reduced demand for steel products, which in turn led to the temporary idling of several integrated mills. Less steel production means less demand for taconite pellets that are shipped by lake carriers from the Iron Range. “When […]
Cargo shipments on the Great Lakes and St. Lawrence Seaway were impacted during the coronavirus pandemic, with ports seeing lower volumes. Tonnage on the St. Lawrence Seaway was down 10 percent year over year in the period from March 15 through May 31 to 7.7 million metric tons, said the Marine Chamber of Commerce. “Road […]
The trucking industry lost more than 88,000 jobs in April, according to the U.S. Bureau of Labor Statistics, a 6.2 percent year-over-year decline. “Job losses in the U.S. trucking industry in April were not as deep as in the broader economy, but they were substantial nonetheless, wiping out four years of trucking employment growth in […]
The U.S. trucking industry could be facing the worst second quarter on record, says FTR after analysis of the latest Trucking Conditions Index. Steep drops in freight volume and declining utilization rates due to the COVID-19 pandemic will create challenging conditions through this year and into next. “Although trucking conditions might prove to be comparable […]
The COVID-19 crisis caused a spike in truck rates in March as vans and reefers worked to replenish retail stocks and move essential supplies. DAT Trendlines said rates are likely to fall in the coming weeks, however, as fewer load postings occur. Van and reefer rates are expected to stay elevated, whereas flatbed rates and […]
The Great Lakes shipping season officially began yesterday with passage of the upbound freighter H. Lee White through the Soo Locks . “Right on time, at one minute past midnight, the lower gates of the Poe Lock opened and the H. Lee White made its way into the lock, officially opening the 2020 navigation season […]
High water levels on Lake Ontario have pushed back the Great Lakes international shipping season until April 1 from the previously scheduled opening on March 20. Water from Lake Ontario passing through the Moses-Saunders hydroelectric dam has increased current velocity on the St. Lawrence Seaway making it unsafe for commercial shipping. The International Lake Ontario–St. […]
U.S. ports are canceling shifts and closing terminals due to shipping disruption stemming from coronavirus-related production cuts in China. The largest impact is on West Coast ports that serve as primary shipping destinations for Chinese imports. More than half of the volume at the ports of Los Angeles and Long Beach originates from China. Container […]
Steel prices declined significantly in 2019—not good for steel producers and distributors or for the trucking companies that deliver their products, said Jim Berg, president of Jim Berg Trucking, in remarks last week at the Fabricators and Manufacturers Association Annual Meeting in San Antonio, Texas. Trucking is a highly fragmented market, dominated by small companies […]
For-Hire Truck Tonnage rose 0.1 percent in January to 117.4. The January increase follows a 0.5 percent increase in December, reports the American Trucking Association. “Over the last two months, the tonnage index has increased 0.6 percent, which is obviously good news” said ATA Chief Economist Bob Costello. “However, after our annual revision, it is […]
The Port of Cleveland saw a significant decline in imports from Europe in 2019 due to tariffs and supply line disruptions. An increase in shipments from Canada, however, drove a 9 percent overall increase in cargo for the year. “Our European, cross-Atlantic imports were down approximately 35 percent, and our primary import from Europe is […]
The U.S. Bank Freight Payment Index, a quarterly analysis of freight volumes and spending, fell 4.0 percent in the fourth quarter after gaining a total of 10 percent in the second and third quarters. Both volumes and spending dropped during the quarter due to weaker economic activity and impacts from the international trade market. The […]
The trucking industry reported a “choppy” year for truck tonnage. The American Trucking Association’s advanced seasonally adjusted For-Hire Truck Tonnage Index increased for the 10th year in 2019, but at only half the gain realized in 2018. The index was up 3.3 percent compared to 6.7 percent in 2018. The SA December Index rose 4.0 […]
The International Chamber of Commerce’s new 2020 Incoterms took effect on Jan. 1. Incoterms stands for “international commercial terms,” the essential terms buyers and sellers use when making transactions around the world. Common acronyms like FOB (Free on Board) or DAP (Delivered at Place) are standardized terminology that helps to facilitate the import and export […]
Another shipping season on the Great Lakes is drawing to a close. Lake carriers are busy moving coal and ore to steel mills in the region to build stocks for the winter before heavy ice overtakes the lakes. The Soo Locks and St. Lawrence Seaway are scheduled to close for the season on Jan. 15. […]