DAT’s key thesis is that average spot and contract rates have “diverged sharply” over the three-month period covering November, December, and January, with the gap having accelerated in recent weeks, due to gains in spot rates, not only for van activity but also for the three major equipment classes: van, reefer, and flatbed.
The United States Department of Energy’s Energy Information Administration (EIA) reported that the average cost per gallon of diesel gasoline saw a 1.6-cent increase to $3.086 per gallon. With this increase, the diesel average has topped the $3 per gallon mark for the last four weeks, coming in at $3.028, $3.025, and $3.070, respectively during…Details
The index ISM uses to measure non-manufacturing growth—known as the NMI––headed up 3.9% to 59.9 (a reading above 50 indicates growth) in January to a new all-time high. This reading indicates non-manufacturing growth has now been intact for 96 consecutive months, with the overall economy growing for the 101st consecutive month
The International Air Transport Association recently released full-year 2017 data for global air freight markets showing that global demand grew by 9.0%. This was more than double the 3.6% annual growth recorded in 2016.
This new flight, which UPS said is operating on a weekly basis, will start flying daily on February 27 and be in service Tuesday through Saturday. And UPS said the flight will be operated with one of the company’s new 747-8F freighters, adding that the flight is a facet of the company’s build out of…Details
The Port of Rotterdam Authority and IBM recently announced their collaboration on a multi-year digitization initiative to transform the port’s operational environment using Internet of Things (IoT) technologies in the cloud to benefit the port and its stakeholders.
Although not name specific players, Lytle said “international shipping lines” view Oakland as a candidate for first-call service from Asia.
Goldman Sachs Asset Management Private Real Estate (GSAM PRE) and DH Property Holdings (DHPH) have formed a joint venture to develop a three-story, 370,000 square-foot, institutional grade warehouse and distribution center at 640 Columbia Street in Brooklyn, New York on the Red Hook waterfront.
For November, the most recent month for which data is available, the SCI came in at -8.9, which is down from, and an improvement over, October’s -9.6. September and August came in at -8.2 and -6.7, respectively.
Carloads increased 1.1% annually to 260,993, and intermodal containers and trailers saw a 6.9% annual gain to 282,522.