US Works with Firms in Supply Chains to Ease Port Congestion
The U.S. Transportation Department (USDOT) said on Wednesday a supply chain pilot data-sharing project aimed at easing bottlenecks at congested U.S. ports has begun exchanging data and doubled in size.USDOT announced the planned project in March with truckers, shippers, wholesalers, retailers and ports "to develop a digital tool that gives companies information on the condition of a node or region in the supply chain."The effort known as the Freight Logistics Optimization Works (FLOW) program included 18 initial participants including FedEx…
Intermodal Freight Market to Grow 7.5%
Global intermodal freight transportation Industry is estimated to grow at a CAGR of 7.5% from 2018 to 2025 to reach USD 72.51 Billion.Last year (2018), the intermodal freight transportation Industry was valued at USD 43.70 Billion, said a report from the Global Reports Store. Intermodal Freight transportation consist two modes of freight including rail and truck which is used in applications such as containerization of freight and passenger transportation.The intermodal process usually begins with a container moved by a truck to a rail, then back to a truck to complete the process.There are about more than 50 million containers moved in United States…
J.B. Hunt: Boost in Intermodal Business
J.B. Hunt Transport Services, one of the largest transportation companies in North America, reported increased profits in the third quarter as demand grew for transporting shipping containers. The company reported third-quarter earnings of $115.1 million, surpassing Wall Street expectations. It posted revenue of $1.59 billion in the period, here also missing Street forecasts. Seven analysts surveyed by Zacks expected $1.62 billion. Profits were driven by improving margins in the company’s intermodal unit, which transports shipping containers and makes up a majority of the company’s revenue, says a report in WSJ. The growth in intermodal shipping has been driven by increased freight rates and lower maintenance costs.
Driver Shortage Makes Capitalizing on Low Oil Hard for Truckers
A chronic shortage of drivers means America's long-haul trucking companies are struggling to capitalize on cheap fuel prices that could allow them to take goods shipments away from railroads. A 50 percent fall in oil prices from their peak last year should have erased some of the cost advantage railroads enjoy, especially for longer hauls. But for customers hoping to save money by switching from train to truck, the lack of drivers makes that harder. "It's a nice theory, but the math doesn't add up because of the driver shortage," said Jason Seidl, an Cowen & Co analyst. An increasingly common way of shipping freight is by "intermodal" standardized containers that can be hauled by truck, ship and train.
Free Research Reports on Selected Companies by Analysts' Corner
Analysts' Corner release new research reports highlighting Trinity Industries, Inc., Nordic American Tankers Limited ), J.B. Hunt Transport Services, Inc., SEACOR Holdings, Inc.), and DryShips Inc. Readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below. Trinity Industries, Inc. J.B. Hunt Transport Services, Inc. SEACOR Holdings, Inc. DryShips Inc. Analysts' Corner add that they are an independent source whose views do not reflect the companies mentioned in these reports. Secondly that information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, they remind readers that they are only human and are prone to make mistakes.
Lauer Joins Matson as Director, Transpacific Services
John P. Lauer has joined Matson Navigation Company as director, Transpacific services, for Matson's China - Long Beach Express. Lauer will lead Matson's U.S. sales efforts for its burgeoning China - Long Beach Express service and will focus on trade lane yield management and revenue enhancement strategies in conjunction with other Matson operations. He will report to Dave Hoppes, senior vice president, ocean services. Lauer comes to Matson with 20 years of sales experience, including a number of senior level executive positions encompassing maritime and logistics activities. Most recently, he was managing director, eastern region, for APL and APL Logistics at the NOL Group level. Lauer led these companies in reaching key performance sales and profit benchmarks.
Matson and J.B. Hunt Transport Services Partner
Matson Navigation Company (Matson), Matson Integrated Logistics (MIL), and J.B. Hunt Transport Services, Inc. are partnering in new guaranteed, expedited services from Ningbo and Shanghai to Long Beach and various U.S. inland destinations under a single invoice. With the new program, customers will have the option of benefiting from two new premium level service products. The first premium level service option will be offered by Matson and MIL and will guarantee the transit time and delivery of shipments to the West Coast and selected inland destinations. This service will provide Matson, MIL, and J.B. Hunt customers the opportunity to gain economies of scale on inland transportation costs by reducing the number of container/trailers that are moved to the final destination/inland point.
