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DHL Buys Stake in Miami Air Cargo Firm

DHL has bought a 49% stake in a Miami air cargo company and extended its contract with the company through 2019, the company said.

June 13, 2007

Congress Eyes Boosting Fuel Economy

Stronger fuel-economy rules stand their best chance in years of passing Congress, amid heightened concern about gas prices and global warming, the Los Angeles Times reported Tuesday.

June 12, 2007

China Sets Biofuels Moratorium

China announced a moratorium on the production of ethanol from corn and other food crops Monday, at the same time that Western leaders are moving to embrace more alternative fuels, the Times of London reported Tuesday.

June 12, 2007

‘Hot Fuel’ Comes Under Federal Scrutiny

Federal lawmakers said that oil companies and service station owners cheated consumers due to fuel’s tendency to expand in warm temperatures, the Los Angeles Times reported Saturday.

June 11, 2007

Diesel Dips 0.7¢ to $2.792; Gas Plunges 8.1¢ to $3.076

Diesel fuel’s national average retail price dipped 0.7 cent $2.792 a gallon and gasoline's pump price plunged, the Department of Energy said Monday.

June 12, 2007

UTi Worldwide’s 1Q Income Dips

Air and ocean freight forwarder UTi Worldwide’s fiscal first -quarter net income fell 6% to $18.1 million or 18 cents a share, from $19.3 million or 20 cents a year ago.

June 7, 2007

Fuel Inventories Rise for Week

Inventories of crude oil, gasoline and distillate fuel all rose last week, and oil prices receded slightly in early trading Wednesday, Bloomberg reported.

June 6, 2007

Ceva Secures EGL Financing

The private-equity parent company of Ceva Group has received a commitment of $2.95 billion in debt financing to fund the buyout of air freight forwarder EGL Inc., Bloomberg reported Tuesday.

June 6, 2007

CTA Opposes SoCal Port Plan

The California Trucking Association opposes regulations that would allow only newer, lower-emission trucks access to marine terminals, the Fresno Bee newspaper reported.

June 4, 2007

Diesel Dips 1.8¢ to $2.799; Gas Falls 5.2¢ to $3.157

Diesel fuel’s national average retail price fell 1.8 cents to $2.799 a gallon, while gasoline dropped more than a nickel to $3.157, the Department of Energy reported Monday.

June 5, 2007