The Indianapolis-based Wheaton Group has announced the acquisition of Arpin Van Lines this week, as Arpin now joins a group of five relocation brands along with Wheaton World Wide Moving, Bekins Van Lines, Stevens Worldwide Van Lines (acquired in February 2019) and Clark & Reid. Inside Indiana Business reported on Monday that this acquisition deal does NOT include Arpin International Group and other Arpin divisions.
As the primary fuel for trucking, diesel pricing continued to drop another 7.3 cents yesterday according to Transport Topics News as reported by the U.S. Department of Energy. As expected, the trend of excess global production and falling demand also continues along with a drop in oil by 15%. TTNews explains that diesel prices dropped across all regions (lowest in the Gulf Coast) along with providing current average prices per gallon for fuels and more discussion on current global causes.
It was reported Wednesday by American Shipper that the Asia to U.S. transport cost for containers has increased by double digits so far this year as compared to same period in 2019. At the same time, however, it was explained that this rate momentum would not continue going forward.
Transport Topics also reported earlier this week that truck tonnage in the U.S. increased by 2.6% in February compared to 2019 year-over-year. In addition, the For-Hire Truck Tonnage Index provided by the ATA rose 1.8% in February over the previous month of January. Learn how ATA Chief Economist Bob Costello explains these numbers and additional outlook.
The U.S. Senate Commerce Subcommittee on Transportation and Safety heard testimony this week from American Trucking Associations (ATA) president, Chris Spear ashe expressed priorities and important steps for increasing highway safety and job opportunities, as well as fixing infrastructure in the US. Mr. Spear pointed to general speeding and texting as a major cause for large truck crashes rather than truck driver-related factors. Learn more about his support for the bipartisan DRIVE-Safe Act and the billions of dollars of cost to trucking and other drivers due to aging infrastructure in need of revitalization at...
CNBC reported late yesterday (Tuesday) that according to Gene Seroka, executive director of the Port of Los Angeles, the port has already experienced a 25% decline in February shipments with Q1 also trending a 15% decrease in volume. Mr. Seroka goes on to compare the economic impact of the coronavirus to the SARS outbreak in 2003 and the differences involved.
At the end of last week, American Shipper reported that the downturn in US container imports over the past few months through January 2020 was primarily due to the China Tariffs. But now the coronavirus offers new and ongoing impact.
We are hearing reports that the Coronavirus is impacting shipments in parts of China.As business operations in many cities in China are returning to work after the Chinese New Year holiday on Monday 3rd February, several cities are now required to delay until at least the 10th of February.A news release by at least one Asian removal supplier indicates they are fully suspending operations in Wuhan and expects delays in reaching full operating capacity in other cities.Port Technology also reports yesterday that as the holiday is extended to 9 February in Shanghai, the world’s busiest container shipping port, the International Chamber of Shipping (ICS) is hoping to avoid any port closure in China.
