Barge Line Raising Funds to Expand Mexico Service
SeaBridge Freight Corp., which moves containers by barge from the U.S.-Mexico border to Florida, is expanding via an unusual route — a “reverse merger” and an injection of federal funds to double its current one-barge operation and add heavy-weight container capacity.
October 4, 2010YRC Chief Zollars to Retire After Recovery Plan Is Done
William Zollars, the chief executive officer who built YRC Worldwide Inc. into a $10 billion freight company and then navigated the company through large losses during the recession, said last week that he will retire when the company’s comprehensive recovery plan is completed.
October 4, 2010Bill Would Require EOBRs on All Trucks
Two U.S. senators, with the support of some of the nation’s largest trucking fleets, introduced legislation last week that would require all trucks to use electronic onboard recorders to monitor their drivers’ hours of service.
October 4, 2010Diesel Dips 0.9¢ to $2.951 a Gallon
The national average price for retail diesel dipped 0.9 cent a gallon to $2.951 last week, and gasoline dropped 2.9 cents to $2.694 a gallon, the Department of Energy reported.
October 4, 2010UPS Freight Sets 5.9% Rate Hike
UPS Freight, the less-than-truckload unit of UPS Inc., said it will institute an average 5.9% general rate increase later this month.
October 1, 2010Oil Closes Week Over $80 a Barrel
Oil finished the trading week over $80 a barrel, closing above that level for the first time in almost two months, Bloomberg reported.
October 1, 2010ATA Backs Freight-Movement Bill
American Trucking Associations said it is backing legislation proposed by a California congresswoman aimed at improving freight movement throughout the country.
October 1, 2010Construction Spending Rises in August
Construction spending rose 0.4% in August, the Commerce Department said Friday.
October 1, 2010YRC Changes Ticker Symbol for Month
YRC Worldwide said Friday its ticker symbol has temporarily changed to ”YRCWD,” from “YRCW,” a standard practice in conjunction with its reverse stock split.
October 1, 2010Consumer Spending Rises in August
Consumer personal spending rose 0.4% in August as incomes improved, the Commerce Department said Friday.
October 1, 2010