Business
JB Hunt Transport Services’ Q4 Results Mixed
J.B. Hunt Transport Services Inc. reported fourth quarter net income of US$155.5 million, compared to net earnings of US$153.5 million in the fourth quarter 2023.Operating revenue for the Lowell, Arkansas-based intermodal service provider was US$3.15 billion in the fourth quarter, down 5 percent from US$3.3 billion in the year-earlier quarter.Intermodal, or JBI, saw fourth quarter operating income fall 10 percent to US$117 million, primarily ...
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The U.S. Department of Transportation, or DOT, and the Federal Highway Administration, FHWA, said on Jan. 10 that it was awarded the Port of Houston Authority nearly US$25 million in grant funding to construct and operate a hydrogen fueling station for heavy-duty trucks.The project is ...
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Sean Duffy was confirmed Jan. 28 as U.S. Transportation Secretary, who has been tapped by President Donald Trump to cut transportation regulations and address the nation’s infrastructure, AP reported.A former Wisconsin congressman and reality TV star, Duffy, 53, garnered bipartisan approval, with a 77-22 Senate ...
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Crude oil tanker deliveries plunged 74 percent to a 36-year low in 2024, said Niels Rasmussen, chief shipping analyst at BIMCO.Only 17 new tankers with 2.5 million deadweight tons of capacity joined the fleet in 2024. Recycling of crude tankers increased only 0.2 percent to ...
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Supply chain services provider Wabash announced key executive appointments, effective Jan. 15, which the company said are aimed at advancing its growth strategy and delivering greater value to customers, partners and stakeholders.Drew Schwartzhoff has been named senior vice president and chief commercial officer, and will ...
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Trailer Bridge Inc. said it has been selected by the Naval Supply Systems Command for a five-year, multi-award, indefinite-delivery/indefinite-quantity contract for the U.S. military.
Trailer Bridge is one of 86 companies worldwide awarded the contract for the Worldwide Expeditionary Multiple Award Contract 2.0. WEXMAC 2.0 ...
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The Ocean Alliance shipping network, or OA, has announced its 2025 project lineup, effective in April, which includes three additional services and heavy emphasis on transpacific services.OA member carrier OOCL released the alliance’s updated schedule, or “Day 9 products,” on Jan. 12. Other alliance members ...
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Galveston Wharves Port Director and CEO Rodger Rees said the Gulf port needs an update to its 20-Year Strategic Master Plan, which was adopted in 2019.“The comprehensive plan has been our roadmap for major capital projects to grow our business while managing potential community impacts,” ...
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Drewry, the maritime research and consultancy, said its World Container Index decreased 3 percent to USUS$3,855 per 40-foot equivalent unit, or FEU, the week of Jan. 2.The latest Drewry WCI composite index is 63 percent below the previous pandemic peak of USUS$10,377 in September 2021 ...
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Fleet expansion remains a concern for the container shipping market in 2025 and beyond, said BIMCO, in its latest Container Shipping Market Overview and Outlook.
The international shipping association, which represents 62 percent of the world’s tonnage, saw the supply/demand balance tighten in 2024, as ...
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