Business

After a series of temporary extensions kept highway construction projects and federal transportation programs afloat for three years, Congress in June finally passed a new highway reauthorization bill.

Heavy-duty U.S. truck and engine makers appear headed for a third straight year of sales growth, although the trend may have peaked in August as volumes stumbled after that and new order rates dipped.

Trucking and transportation stocks generally appreciated at a lower rate in 2012 than did the large, broad market indexes.

A graph of diesel’s prices in 2012 resembles a roller coaster, with big surges in the spring and fall topping $4 a gallon, with each soon followed by relatively steep declines.

For labor and management, 2012 was short on contracts and long on rhetoric. During the year, the only agreement that affected trucking was between a division of the International Longshore and Warehouse Union and Southern California waterfront employers.

Intermodal business continued to grow in 2012, powered by the combination of truckload freight migrating to rail long hauls, expanded Eastern truck/rail options and continued reliability improvements, industry experts said.

In 2012, the Obama administration’s Mexican cross-border three-year pilot project got into full swing, but a federal court challenge and a lack of widespread interest among Mexican motor carriers continued to threaten the program’s success.

Funding for roads and bridges continued to be the overriding issue for states in 2012 as transportation officials sought new ways to raise revenue.

Epes Logistics Services said Friday it has acquired Cargo Masters Inc., a freight transportation and logistics firm based in Charlotte, N.C. Terms were not disclosed.

Durable goods orders rose 0.7% in November, the Commerce Department reported Friday.