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Updated: 2 hours 55 min ago

New Mexico Pursues Opportunity for Rerouted Rail Line

Thu, 05/05/2022 - 09:38
SANTA FE, N.M. — New Mexico is highlighting its support for proposals that would route an international rail line through its Santa Teresa port of entry, capitalizing on Mexico’s unease with disruptions along the Texas portion of the U.S. border with Mexico.

Productivity Drops on Weaker Output as Labor Costs Jump

Thu, 05/05/2022 - 09:26
U.S. productivity dropped in the first quarter by the most since 1947 as the economy shrank, while labor costs surged and illustrated an extremely tight job market.

OPEC+ Opens Oil Taps Gradually as Russian War Roils Markets

Thu, 05/05/2022 - 09:14
LONDON — OPEC and allied oil-producing countries decided May 5 to gradually increase the flows they send to the world, even as Europe’s plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude.

TravelCenters Reports Higher Q1 Net Income, Revenue

Thu, 05/05/2022 - 08:38
TravelCenters of America Inc. reported first-quarter net income and revenue rose along with gross fuel margins.

TuSimple Taps Werner for Roadside Service, Support

Wed, 05/04/2022 - 16:19
TuSimple has added Werner Enterprises Inc.’s roadside service network to others that will provide support to customers operating in “driver-out” SAE Level 4 autonomous mode on its Autonomous Freight Network.

Eaton Posts Record Segment Margins in Q1

Wed, 05/04/2022 - 14:58
Power management company Eaton Corp. reported first-quarter net income and revenue rose, and it reached record Q1 segment margins, or the amount of profit or loss produced by one component of a business.

Industry Reacts to FMCSA's Plans on Heavy-Truck Speed Limiters

Wed, 05/04/2022 - 14:44
A federal proposal to consider requiring speed limiters on new commercial trucks has drawn mixed reactions from trucking and safety groups.

‘Beyond Compliance’ Program Delays Challenge FMCSA

Wed, 05/04/2022 - 14:19
Nearly five years after it was mandated by Congress to go into effect, federal trucking regulators have yet to establish a “beyond compliance” program to offer motor carriers some sort of extra credit or reward for early adoption of safety technologies or fatigue management programs.

Fed Hikes Rates by Half Point

Wed, 05/04/2022 - 13:54
The Federal Reserve raised interest rates by the steepest increment since 2000 and decided to start shrinking its massive balance sheet, deploying the most aggressive tightening of monetary policy in decades to control soaring inflation.

Congressional Leaders Eye Legislation Targeting Fuel Prices

Wed, 05/04/2022 - 13:36
With the traditional start of the busy summer driving season fast approaching, congressional leaders are taking aim at rising gasoline prices.

April Class 8 Orders Fall to 15,800

Wed, 05/04/2022 - 12:49
North American Class 8 vehicle orders in April hit nearly 16,000 — less than half of those a year earlier — that landed as slots for 2022 are largely spoken for and there is no consistency on truck makers opening up slots in 2023, ACT Research reported.

Camden Port Among Winners of New Jersey Freight Grants

Wed, 05/04/2022 - 12:18
The Port of Camden is among the winning projects chosen by the New Jersey Department of Transportation for $30 million in freight impact grants to improve traffic safety for large trucks

Werner Reports 24% Increase in Revenue for Q1

Wed, 05/04/2022 - 10:35
Werner Enterprises posted net income of $53.7 million, or 82 cents a diluted share, for the first quarter, compared with $46.5 million, 68 cents, during the same time the previous year, the company reported May 3.

Uber Sidesteps Lyft’s Debacle With Optimism Over Riders, Profit

Wed, 05/04/2022 - 09:47
Uber Technologies Inc. delivered a positive outlook for earnings in the current period, signaling the company plans to capitalize on robust ride demand without compromising profits by focusing on product changes, rather than incentives, to address the driver shortage.

Maersk Lost More Than $700 Million From Russia in Quarter

Wed, 05/04/2022 - 09:20
A.P. Moller Maersk A/S lost more than $700 million in the first quarter from the war in Ukraine as it counts the cost of exiting Russia, according to the shipping giant.

Daseke Reports 26% Rise in Revenue for Q1

Tue, 05/03/2022 - 16:19
Daseke Inc. experienced a 26% increase in revenue year-over-year for the first quarter, the company reported May 3.

Norman Mineta, Former DOT Secretary, Dies at 90

Tue, 05/03/2022 - 15:33
ANNAPOLIS, Md. — Norman Mineta, who as federal transportation secretary ordered commercial flights grounded after the 9/11 terror attacks in 2001, died May 3. He was 90.

Meritor Reports FY Q2 Revenue Climbs on Demand, Higher Pricing

Tue, 05/03/2022 - 15:09
Meritor Inc. reported fiscal second-quarter net income dipped and revenue increased primarily driven by higher truck production in most global markets and pricing actions.

Shippers Turn to Trucking for Help Meeting Carbon Reduction Goals

Tue, 05/03/2022 - 14:36
LAS VEGAS — As large corporations make bold pledges to achieve carbon neutrality in the coming decades, they are increasingly looking at their supply chains as an opportunity to make progress toward those goals.

Cummins Reports All-Time High Quarterly Revenue

Tue, 05/03/2022 - 13:51
Cummins Inc. reported first-quarter net income fell as it posted all-time record quarterly revenue.