The International Transport Workers Federation is claiming that a new study raises questions about the safety of navigation in the Central American waterway, while the Panama Canal Authority says the report’s claims are unproven and contain errors.
U.S. economy expands at weakest pace in two years
Gross domestic product rose at a 0.5 percent annualized rate after a 1.4 percent fourth-quarter advance, less than the 0.7 percent median projection in a Bloomberg survey, Commerce Department data showed Thursday.
Executive Moves: COSCO Pacific and “K” Line
COSCO Pacific Ltd. re-designates executive director and vice chairman, while “K” Line nominates managing executive director, outside directors, and supervisory board members
U.S. DOT: Fatal truck crashes on the decline
A new report from the U.S. Department of Transportation’s Federal Motor Carrier Safety Administration revealed fatal crashes involving large trucks fell 3.7 percent year-over-year in 2014.
House votes to let manufacturers seek lower import tariffs
A House measure that would allow companies to ask the International Trade Commission to reduce or suspend tariffs on chemicals or other items that generally aren’t available in the U.S. passed by a vote of 415-2 on Wednesday.
Echo boosts Q1 revenues 43%
Freight brokerage and third-party services provider Echo Global Logistics reported non-GAAP diluted earnings per share of $0.24 on revenues of $405.3 million for the quarter, in-line with consensus analyst expectations.
Intermodal rates continue to slide in March
Rates fell another 3 percent for the month compared to March of last year, the 15th consecutive month prices have decreased, and analysts with Avondale Partners expect this trend to continue through the rest of 2016.
Truckload rates fall for first time since May 2010
Truckload pricing dipped 0.6 percent in March 2016 compared to the same 2015 period, the first negative pricing change in nearly six years, according to the latest Cass Truckload Linehaul Index.
UPS increases Q1 net income, revenues
The Atlanta, Ga.-based parcel giant posted a net income of $1.1 billion for the first quarter of 2016 on revenues of $14.4 billion, year-over-year increases of 10.2 percent and 3.2 percent, respectively.
The money chase
The S.C. Ports Authority banks on profit-making strategy to finance infrastructure at Charleston and elsewhere.