News Briefs - May 27
The Latest Headlines:
- DHL Rechristened Astar Air Cargo
- I-80 Reopened After Weekend Bridge Collapse
- Ethanol Supplies Exceeding Demand, Experts Say
- Crude Oil Prices Rise on Likely Supply Cut
- New URSI CEO Names Three Top Executives
- I-80 Reopened After Weekend Bridge Collapse
DHL Rechristened Astar Air Cargo
DHL Airways said it would change its name to Astar Air Cargo Inc. after the completion of a sale of the airline to a group led by its new chairman and chief executive officer.Currently a subsidiary of Deutsche Post AG through DHL Worldwide Express, DHL Airways is in the process of being sold to a group led by Chairman and CEO John Dasburg.
DHL Worldwide Express is in the process of purchasing the trucking portion of Airborne Inc., but has run into some snags because of federal laws concerning foreign ownership of U.S. airlines. (Click here for related coverage.) U.S. rivals United Parcel Service Inc. and FedEx Corp. have complained that the DHL purchase of Airborne would violate U.S. laws because any new airlines would still effectively be subsidiaries of the German company. Transport Topics
I-80 Reopened After Weekend Bridge Collapse
Interstate 80 in Nebraska was completely reopened late Sunday evening after a bridge carrying a country road over the major east-west highway, the state’s Department of Roads said.The bridge came down late on May 23 after a tractor-trailer struck the main support post of the overpass closing both lanes of I-80, a DOR statement said.
I-80 was closed at the site of the accident and traffic was detoured around on May 24 and most of Sunday as crews cleared the debris out of the way, DOR said.
Drivers traveling on I-80 west of Big Springs, Neb. may experience delays, the DOR said, and they should treat the collapse area as a construction zone and use caution.
Traffic flow in both directions on I-80 was restored in time for Memorial Day, DOR reported.
Chris Peterson, spokesman for Gov. Mike Johanns, said that the state didn’t have an estimate for how much the clean up would cost, but that he expected federal aid to help cover the expense, the Associated Press reported. Transport Topics
Ethanol Supplies Exceeding Demand, Experts Say
Supplies of ethanol, a grain-based fuel, are continuing to exceed demand, forcing prices to an 11-month low, Bloomberg News reported.Analysts and traders told Bloomberg that new demand for the fuel has not kept up with expansion in ethanol production.
According to experts, demand for ethanol may grow as refiners eliminate MTBE, a competing fuel additive, later this year to comply with laws in 17 states, including California and New York, Bloomberg said.
Ethanol is blended with gasoline to reduce tailpipe exhaust, Bloomberg said. Transport Topics
Crude Oil Prices Rise on Likely Supply Cut
The price of crude oil rose in early trading Tuesday as expectations grew that OPEC might trim its output as Iraq begins exporting oil again, Bloomberg News reported.Crude oil is distilled down to motor fuels like diesel and gasoline, both of which are used to power the trucking industry.
In early trading on the New York Mercantile Exchange, the price of crude oil for July delivery was up 39 cents a barrel to $29.55, Bloomberg News said.
Traders told Bloomberg that later this week, Iraq was expected to take the first bids for crude oil since the U.S.-led war that deposed Saddam Hussein. Prior to that war, Iraq's oil exports were controlled by the United Nations. Transport Topics
New URSI CEO Names Three Top Executives
Vehicle hauler United Road Services Inc. said May 20 that it had named three new top executives to run the Romulus, Mich., company.Chief Executive Officer Michael Wysocki, who took his position less than two months ago, named Bruce Swart as chief financial officer, replacing Patrick Fodale. Gerald Corcoran succeeds Harold Borhauer as president of the towing business unit, and Patrick Riley was named senior vice president for purchasing and asset management.
United Road ranked No. 68 on the 2002 Transport Topics list of the 100 largest U.S. and Canadian trucking companies. Earlier this year the company moved to Romulus from Albany, N.Y. Its two main business segments are towing and vehicle transport. Jonathan S. Reiskin
This story appeared in the May 26 print edition of Transport Topics
