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Has the Freight Recession ended?

Chart of the Week: Outbound Tender Volume Index — USA (SONAR : OTVI.USA ) After approximately nine months of flat or contracting volumes and rates, the freight market has started to change course. The national Outbound Tender Volume Index (OTVI) just had its longest stretch of positive growth this year at 31 days of year-over-year growth. …

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Union rejects contract offer from big Starbucks distributor

Union drivers and warehouse workers employed by a key Midwest distributor for Starbucks Coffee Co. (NASDAQ:SBUX) have rejected a contract proposal in part because of its short duration, the Teamsters union, which represents the nearly 300 workers, said Aug. 23. The company, DPI Specialty Foods, offered the workers a seven-month contract, a sharp contrast to …

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Summer doldrums explode along with tariff war, tweets

Traditionally, the third Friday in August is as dormant as they come. In the U.S., law and policymakers, business and financial potentates, and the self-styled media elite are into their mid-August to post-Labor Day summer breaks. Many Europeans, meanwhile, are off for the entire month. Financial markets activity slows to a crawl, save for the …

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Mexico exports of commercial trucks to U.S. jumps 30 percent in first quarter

Mexico manufactured 104,214 buses, heavy-duty and tractor-trailer trucks in the first half of 2019 (January-June), up 36.50 percent compared to the same period last year. The data was released August 21 by Mexico’s National Association of Bus, Truck and Tractor Truck Producers (ANPACT). Miguel Elizalde, the president of ANPACT, said the increased demand for heavy-duty …

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Down Under Trucking: Vast majority of Aussie truck drivers are either fat or obese

Oi! You! Yes, you! Put down that pie! Drop that sugary drink! Cast away that cake! It’s time for Australian truck drivers to learn the about joys of salad and the ecstasy of exercise. Researchers have found that the vast majority of Australian truck drivers have terrible eating habits and they don’t exercise. Also in …

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FreightWaves oil report: bankruptcies in the oil patch are piling up

A weekly look at what occurred in the oil markets of the U.S. and the world this past week and what’s ahead.  Bankruptcies in the oil patch dropped in 2017 and 2018 but they are climbing again this year. That’s the conclusion of a recent report from the Oil Patch Bankruptcy Monitor of Haynes & …

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Northstar Midstream expanding into LNG bunkering

NorthStar Midstream, a company that is 50% owner of the JAX LNG terminal in Jacksonville, FL, is expanding into the marine bunkering business, targeting operators of cruise and cargo ships that are planning to use natural gas as bunker fuel. Northstar, which is owned by investors in funds managed by Oaktree Capital Management LP, has …

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South Texas powers another week of rising truckload volumes

Outbound tender volumes (OTVI.USA) finished this week up 4.99 percent year-over-year. South Texas led the climb with both Houston and Laredo posting strong double-digit weekly increases.  OTVI began the week with a strong start before dipping late Thursday, diminishing the weekly gains. Overall, tendered truckload volumes increased 1.45 percent this week. The OTVI index also …

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Transports sag on trade banter, increased tariffs will not help

Not Federal Reserve Chairman Jerome Powell’s early trading session policy comments and not China’s retaliatory tariffs announced just hours before could move U.S. equity markets meaningfully. It was the President’s tweets. In a series of tweets , President Trump ordered U.S. companies to “immediately start looking for an alternative to China,” urging domestic companies to …

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Hino delivers milestone model to Penske Truck Leasing

Hino Motors Manufacturing U.S.A. Inc. (OTC: HINOF) is investing an additional $40 million and hiring 250 new workers to keep up with increased demand and product configurations at its new medium- and heavy-duty truck plant in West Virginia.  The Novi, Michigan-based subsidiary of Japanese truck maker Hino Motors Ltd. opened the 1 million square-foot facility …

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