General News
FMCSA Expands ID Checks to Drug and Alcohol Clearinghouse
FMCSA has begun rolling out new identity-verification requirements for its Drug and Alcohol Clearinghouse aimed at curbing fraud in the online database.
Iran War Fuels Surge in Piracy Off Somalia Coast
There were three confirmed hijackings in the past week alone, with pirates boarding two cargo vessels and a tanker, according to the U.K. Maritime Trade Operations.
Trailer Sensors Bring Missing Visibility to Maintenance
Fleets are increasingly adopting connected trailer technology for real-time monitoring, better trailer health visibility and to diagnose and address problems early.
Cosco’s Profit Drops by Half as Lower Freight Rates Bite
Revenue dipped 11%, with the transpacific route seeing the biggest growth decline.
Oil Prices Jump 3%
Brent to be delivered in July was up 3%, at $107.61. Benchmark U.S. crude gained 3.4% to $103.32 a barrel.
Toyota Suppliers Warn of Parts Shortages Tied to Iran War
Supply chain disruptions stemming from the Iran war are starting to create choke points across Japan, including the network of companies surrounding Toyota.
ArcBest Posts Q1 Revenue Gain in Tenuous Freight Environment
ArcBest Corp. posted an increase in first-quarter revenue despite freight market uncertainty, the company reported April 28.
US Imports More Used Cooking Oil From China for Biofuels
American imports of Chinese used cooking are set to accelerate as increased U.S. biofuel-blending requirements kick in and the Iran war drives up energy costs, making the feedstock a relative bargain.
ATA Pushes Truck Parking Funding in Next Highway Bill
The trucking industry is insisting lawmakers include long-term funding for truck parking in the next surface transportation reauthorization.
USGS Says Appalachian Lithium Could Support EV Battery Demand
The Appalachian region holds enough lithium — a key ingredient in EV batteries — to curb U.S. reliance on imports for centuries, the U.S. Geological Survey says.
Amazon to Sell OpenAI Models After Microsoft Ends Exclusivity
For the first three years of the AI boom, Amazon watched as cloud customers seeking the latest and greatest from OpenAI took their business to Microsoft.
US Says 15% of Tariff Refund Entries Denied So Far
Businesses and individuals paid the contested tariffs on approximately 53 million entries, according to information shared earlier by the government.
TFI Beats Q1 Expectations as TL Flatbed Ops Boost Results
TFI International posted a stronger first quarter than expected, aided by acquisitions made during the freight downturn that grew its industrial customer base.
Shell Sees Tight Oil Supplies as Hormuz Remains Blockaded
The oil and LNG shortages caused by the blockade of the Strait of Hormuz are likely to drag on for months and possibly into next year, Shell CEO Wael Sawan said
UAE Says It Will Leave OPEC May 1 in Blow to Oil Cartel
The move has been rumored for some time as the UAE chafed under production restrictions and increasingly had frostier relations with neighboring Saudi Arabia.
GM Boosts Outlook by $500 Million
Sales of GM’s Chevrolet Silverado and GMC Sierra pickups, its largest profit generators, remained strong despite gas prices surging above $4 a gallon.
UPS Beats Q1 Profit, Sales Expectations
Adjusted earnings were $1.07 a share for the first quarter, the company said. Revenue of $21.2 billion was also narrowly ahead of expectations.
BP's Profit More Than Doubles in Q1 as US Gas Prices Rise
BP earned $3.84 billion for the quarter. A year earlier the London-based oil and gas company earned $687 million.
Trump Pursues Durable Tariffs After Supreme Court Rebuff
The Office of the U.S. Trade Representative will begin hearings in two investigations that are expected to lead to a new round of U.S. tariffs.
Oil Prices on Upswing as Iran War Drags On
Brent crude to be delivered in July, which is where more of the trading is happening in the oil market, rose $2.19 to $103.88 per barrel.