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Five states have formed a coalition to seek a $300 million federal grant to help pay for intermodal development and improvements along the Norfolk Southern Railroad corridor that stretches from New Orleans to New York City.

Logistics service providers are adjusting as the global economic downturn has caused many companies to curtail production and reduce inventories, stalling the longtime trend of expanding international trade, thereby reducing demand for transportation services in North America.

Transportation and third-party logistics firm Pacer International said its third-quarter profit fell to $600,000, or 2 cents per share, compared with $20.8 million, or 59 cents, a year earlier.

Logistics firm Expeditors International of Washington said Tuesday its third-quarter net income fell 33% to $57.8 million, or 27 cents a share, from $85.6 million, or 39 cents, a year ago.

Five states have formed a coalition to seek a federal grant to build intermodal terminals and make other improvements along the Norfolk Southern Railroad line stretching from New Orleans to New York City.

U.S. diesel prices continued to surge as the national average rose another 9.6 cents a gallon to $2.801 last week, the highest level in nearly a year, the Department of Energy said.

Truckload carrier and logistics firm P.A.M. Transportation Services reported a third-quarter loss of $1.2 million, or 13 cents per share, compared with a loss of $3.2 million, or 33 cents, a year ago.

The Federal Motor Carrier Safety Administration should identify commercial truck and bus drivers who are at high risk for obstructive sleep apnea, and require drivers diagnosed with the condition to prove they are being treated, the National Transportation Safety Board recommended last week.