News Briefs - March 31
The Latest Headlines:
- Southbound Lanes on I-95 in Connecticut Open
- White House Threatens to Veto Highway Bill
- NYSE Delists Interpool
- UP Concerned Freight Congestion Could Lead to Delays
- Pony Express to Start Service to Southeast Asia
- White House Threatens to Veto Highway Bill
Southbound Lanes on I-95 in Connecticut Open
The southbound lanes of the damaged stretch of Interstate 95 in Connecticut opened Wednesday morning, less than a week after being severely damaged after an accident involving a tank truck.I-95 is the main north-south route along the East Coast. An estimated 120,000 vehicles a day, including 15,000 trucks, travel this stretch of road connecting New York and Boston.
Construction crews worked Tuesday and throughout the night to pave over a section of temporary bridge brought in to replace the overpass, AP said. Gov. John Rowland said the temporary bridge could be used for years if it is properly maintained.
White House Threatens to Veto Highway Bill
The White House on Tuesday threatened to veto the House highway spending bill, a day before House debate on the six-year $275 billion bill was scheduled to be debated, the Associated Press reported.House Speaker Dennis Hastert (R-Ill.) played a large role in crafting the bill. Many Republicans and Democrats believe the bill is a major job creator, AP said.
The White House faulted the bill for failing to exercise enough spending restraint, AP said. The administration is also on record as threatening to veto a $318 billion version of the bill that the Senate approved last month. Transport Topics
NYSE Delists Interpool
Intermodal container and chassis leasing company Interpool’s stock was delisted from the New York Stock Exchange on March 23, but the company said it would reapply and that it expected no material impact on its business activities.“The exchange’s decision was the result of the delays experienced by the company in completing our financial statements and SEC filings,” said James Walsh, Interpool’s chief financial officer.
The company said that while waiting for reinstatement, it planned to continue to trade on the over-the-counter market.
Interpool reported it had received $80 million in financing March 12 to help complete previous container company acquisitions. Transport Topics
This story appeared in the March 29 print edition of Transport Topics.
UP Concerned Freight Congestion Could Lead to Delays
Union Pacific is concerned that freight congestion, especially in Southern California and the Southwest, could delay agricultural shipments and international trade if a solution is not found soon, the New York Times reported Wednesday.The severity of the problem has been traced partly to Union Pacific's effort to provide premium service to UPS Inc., one of the largest American carriers by rail, the Times said.
UPS has begun a new coast-to-coast service that requires high-speed train shipments to Dallas, Atlanta and New York. The New York train dispatched from Los Angeles on Tuesday is particularly time-sensitive because it is scheduled to arrive in time for package delivery on Friday rather than the following Monday, the Times said.
To keep the train on time on the busy, largely single-track segment between Los Angeles and El Paso, railroad dispatchers clear other trains onto sidings far ahead of the UPS train.
Although the slowdown has not yet affected international trade through the ports of Los Angeles and Long Beach, an upturn in Asian traffic this year has some analysts expecting problems when the rail freight rush begins in late summer and fall, the Times said. Transport Topics
Pony Express to Start Service to Southeast Asia
Pony Express U.S.A. Inc. said it would begin providing transportation services from Southeast Asia to the United States starting in April."The first phase of our Asia initiative is to provide expedited document and small package delivery services to small- to medium-sized companies located in Thailand, Malaysia, Singapore and Indonesia," Peter Ticktin, Pony Express president, said in a release.
The company said the service would eventually expand into other countries including China and Japan. Transport Topics
