Inti Pacheco of The Wall Street Journal reports that thieves intercepted a refrigerated container bound for Florida and demanded a $40,000 ransom—part of a surge in fraud that has frustrated freight haulers. He writes: Rob Hoffman got disturbing emails and calls last year that threatened his entire business. Swindlers had taken control of one freight load—No. 51890—and told him that other cargoes his firm handled would be stolen unless he paid them $40,000. [...] Hoffman said he hasn’t heard from the FMCSA after filing a complaint about a year ago. The FMCSA spokeswoman didn’t respond … [Read more...]
Hydrogen-Powered Big Rig Hitting Supply Chain Snags
Paul Berger of The Wall Street Journal reports that hydrogen-powered truck deliveries have been slow, pushing manufacturers to spend more on air freight to meet demand. Berger writes: Supply-chain shortages are slowing the rollout of Nikola’s hydrogen-powered big rigs. Steve Girsky, Nikola’s chief executive, says a shortage of pressurized fuel tanks and electric batteries is delaying production of the newest zero-emission technology for truckers. The hangups are hitting as demand for zero-emission big rigs grows, especially in California, where new emissions regulations and generous … [Read more...]
Who’s Going to Pay for New Big-Rig Charging Plan?
Paul Berger of The Wall Street Journal explains that the Biden administration envisions a phased-in nationwide rollout of electric-charging and hydrogen fueling stations for heavy-duty trucks, but who is going to pay? Berger writes: A new federal initiative aims to speed up and better coordinate the rollout of charging and refueling stations for zero-emission big rigs. Industry officials say questions over how much the buildout will cost or who will pick up the tab still need to be resolved. The Biden administration this week released the strategy laying out where and when battery-electric … [Read more...]
U.S. Postal Service Sidestepped Rules in Fatal Crashes
Christopher Weaver of The Wall Street Journal tells his readers that a inspector general’s report faults safety vetting of long-haul contractors for the Unites States Postal Service. The agency said it is improving. Weaver writes: The U.S. Postal Service’s long-haul trucking contractors were in crashes that killed at least 89 people from late 2018 through 2022 and the agency long failed to track such incidents, according to a new report by the mail service’s inspector general. The postal service also sidestepped its own rules to allow unvetted drivers to haul nearly 250,000 loads of … [Read more...]
Boom to Bust: Betting the Future on a Single Industry
David Harrison of The Wall Street Journal reports that as e-commerce soared, warehousing jobs in San Joaquin County surged, too. Did the area bet too heavily on one industry? Harrison writes: The e-commerce boom didn’t just change consumers’ lives, it transformed entire regions, turning backwaters into logistics-driven boomtowns. Now, some of those regions confront an uncomfortable question: What do you do when the boom ends? Nowhere is that question more pressing than in San Joaquin County in California’s Central Valley. A decade ago it had one of the highest unemployment rates in the … [Read more...]
Chinese Electric Automaker Introduces Lamborghini-Style Car
Selina Cheng of The Wall Street Journal tells her readers that the Chinese automaker BYD is expanding its electric vehicle lineup to more than 20 models in its push overseas and to outmaneuver Telsa. Cheng writes: HONG KONG overtook as the world’s top electric-vehicle seller by pumping out a range of affordable cars that gave Chinese drivers what they wanted: choice. Now it is moving into the luxury market as it prepares to take on the world. BYD is releasing the cars under a different brand, Yangwang, marking a strategy shift from relying on lower-priced runarounds to producing less … [Read more...]
Midwest Association of Rail Shippers Points to Positive Negotiations
David Lassen of Trains.com tells his readers that CEOs believe conditions are better now for the next round of labor negotiations. He writes: A lot has happened, since Class I railroads averted a strike in 2022. CEOs and other officials at the Midwest Association of Rail Shippers Winter Meeting were happy to point to progress in labor relations. Which is good, because — believe it or not — the whole national contract process is about to start all over again. The problem with taking three years to navigate the convoluted, Byzantine negotiating process set by the Railway Labor Act is that … [Read more...]
Container Ship Profits Hit Hard
Greg Knowler of the Journal of Commerce is reporting that Cosco Shipping Holdings warned investors Wednesday to expect an almost 80% drop in full-year 2023 operating profit, citing the challenges of excess capacity, geopolitics, and plunging rate levels. Knowler writes: The supply-demand imbalance that built steadily through 2023 has clearly brought the two-year bull run of profitability enjoyed by the container shipping industry to an end, something that will likely be reflected in the coming financial results from Cosco’s peers. In a note to the Hong Kong and Shanghai stock exchanges, … [Read more...]
Average Cost to Ship Containers Nearly Doubles
Paul Berger and Costas Paris of The Wall Street Journal inform readers that importers are facing surging shipping costs, which have nearly doubled since late November. They write: Western importers are reporting a steep rise in ocean-shipping rates and weekslong delays as carriers divert ships from the Red Sea to avoid Houthi rebel attacks. Some companies shipping goods on the crucial trade lane are starting to chafe at the rising prices and extra fees that ocean carriers are imposing for the higher cost of routing containerships on longer voyages around the Horn of Africa following drone … [Read more...]
Hundreds of Flights Grounded after Door Blows Off mid Flight
Alison Sider, Micah Maidenberg, and Nancy Keates of The Wall Street Journal are telling their readers that a key clue in the Alaska Airlines blowout has turned up in a backyard. They write: A 63-pound, 4-foot-long panel that blew off an Alaska Airlines plane in midair was found late Sunday in a backyard, giving investigators a key clue as they try to piece together why a gaping hole opened midair in the airplane’s side. The hunt for the door plug drew in neighbors, local law enforcement and the Federal Bureau of Investigation. Officials from the National Transportation Safety Board earlier … [Read more...]
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