Oil fell more than $5 on Wednesday — down from a $100-plus per-barrel closing price on Tuesday — after OPEC said it would lift its production ceiling and a government report showed gasoline and diesel inventories rose last week.
December 14, 2011Business, Logistics
Transplace to Manage Truckload Contracts From Reichhold
Transplace Inc. has announced it has been chosen to manage the truckload contracts as well as freight audit and payments of composites and coatings manufacturer Reichhold Inc.
December 15, 2011Business, Logistics
Ceva Expands Less-Than-Container Load Service
Ceva Logistics said it has expanded its less-than-container load consolidation services by introducing 30 new services.
December 15, 2011Business, Logistics
Parent Corp. to Spin Off Matson Unit
Alexander & Baldwin Inc., an ocean carrier and logistics and real estate firm based in Honolulu, plans to split into two separate, publicly traded companies.
December 15, 2011Business
DOT Freight Transport Index Rises 4%
The Department of Transportation’s freight transportation services index rose 4% in October from a year ago but took its first month-to-month downturn in five months, DOT said Wednesday.
December 14, 2011Business, Fuel
Oil Drops $5 to Below $95 a Barrel
Business, Fuel
Gasoline Price Update: Price Drops 0.4¢ to $3.286
The Department of Energy has altered its weekly gasoline price average to $3.286 a gallon, a 0.4-cent weekly decline, from a previously announced 1.6-cent decline.
December 14, 2011Business
Report Cites States’ Reluctance to Raise Fuel Taxes
State governments are losing out on over $10 billion in transportation revenue each year, due to states’ reluctance to raise fuel taxes, according to a study released Wednesday.
December 14, 2011Business
TravelCenters of America to Add RFID Cardless Fueling System
TravelCenters of America said Wednesday that it will purchase and install cardless fueling technology at all of its locations nationwide.
December 14, 2011Business
Import Prices Climb 0.7% in November
The price of goods imported to the United States rose 0.7% in November, the first increase in four months, the Labor Department said Wednesday.
December 14, 2011Business, Safety
NTSB Wants Ban on All Phone Use and Texting While Driving
U.S. drivers would not be able to send text messages or use mobile phones — even with headsets or speakers — under a recommendation Tuesday by the National Transportation Safety Board aimed at preventing distracted-driving crashes, Bloomberg reported.
December 14, 2011