Sentiment around transportation capacity signaled slight growth in July. However, readings on utilization and pricing increased more meaningfully, suggesting a freight market correction is on the horizon. The Logistics Managers’ Index (LMI), a survey of logistics supply executives regarding eight key components of the supply chain, displayed a 50.9 reading for transportation capacity in the…
An effort to shift how freight is valued for tax purposes as it travels through multiple states appears to be dead. The Multistate Tax Commission (MTC) rejected an effort at its mid-July meeting to continue the work of a committee that would study greater adoption of the “pick up and deliver” rule. That would be…
By Satish Jindel (The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.) For decades, FedEx and UPS essentially functioned as a duopoly in the U.S. parcel delivery market. With few challengers, they made lots of money. The second-quarter earnings release from UPS…
Oil markets Monday were caught in the middle of opposing bearish and bullish forces, while the benchmark retail diesel price moved down only slightly, given significant declines in diesel futures prices the past two weeks. The Department of Energy/Energy Information Administration average weekly retail diesel price declined 1.3 cents a gallon to $3.755. It’s the…
Arizona Gov. Katie Hobbs announced Energy Fuels Resources Inc. (EFRI) would voluntarily halt transporting uranium ore through Navajo Nation lands to Utah shortly after the tribe’s president issued an executive order banning the action. Navajo Nation President Buu Nygren issued the order on Wednesday requiring an agreement to be in place prior to the transportation…