The United States exported $437 million of beef and $414.3 million of pork in February, year-over-year declines of 18.4 percent and 12 percent, respectively, due to abundant red meat supplies and a competitive international marketplace.
DAT: Spot truckload volumes rise 11%
Combined spot truckload volumes for all three equipment types – van, flatbed and reefer – increased 11 percent for the week of March 27-April 2, compared to the prior week, according to DAT Solutions.
Executive Moves: Martin Bencher Group, Trax Technologies National Tank Truck Carriers and NationaLease
Martin Bencher Group and Trax Technologies appoint COOs, while JLL hires global infrastructure advisor, National Tank Truck Carriers names VP of marketing and NationaLease picks business development manager.
Agility strengthens presence in Latin America
The integrated logistics provider expanded its Latin America network with the addition of three company-owned operations in Colombia, located in Bogota, Medellin and Cali.
Hyundai Merchant Marine focused on renegotiating charters, restructuring bonds
The South Korean shipping conglomerate is also considering sale of its tanker business as part of its “self-rescue” plan to increase liquidity and improve its finances, according to local media reports.
Stifel projects low single-digit global trade growth in 2016
Publicly traded freight forwarders reported an average airfreight tonnage decrease of 2.2 percent year-over-year in the fourth quarter of 2015, while ocean freight volumes also declined 2.2 percent during the quarter, according to investment firm Stifel.
FRA to award $25m in PTC grant funds
The Federal Railroad Administration is accepting applications for $25 million in competitive grant funding available to railroads, suppliers, and local governments for implementation of Positive Train Control as part of the 2016 Consolidated Appropriat…
Wells Fargo: Kinder Morgan may sell interest in Jones Act fleet
In a research note, analyst Michael Webber of Wells Fargo cited both internal company sources and the Oil Price Information Service, who say Kinder Morgan may sell a half interest in the 16-ship fleet.
FDA rules raise bar on food transport safety
The U.S. Food and Drug Administration has finalized a new safety rule to help prevent the contamination of both human and animal foods during transport.
U.S. exports inch up 1% in February
The Commerce Department reported that U.S. exports of goods and services in February increased 1 percent from January to $178.1 billion.