The sliding market for oil led to a third straight decline Monday for the benchmark diesel price used for most fuel surcharges. The Department of Energy/Energy Information Administration average weekly retail diesel price fell 1.1 cents a gallon to $3.768. After four straight weeks of increases that followed nine consecutive weeks of declines, the DOE/EIA…
Love’s announced Monday that its financial services unit has acquired a freight factoring portfolio from REV Capital. The deal adds more than 500 customers to the Love’s Financial platform. Financial terms of the transaction were not disclosed. The deal closed on Friday. “During a challenging freight market, this acquisition underscores Love’s commitment to grow strategically…
WASHINGTON — Regulators have approved a new-driver exemption for Chattanooga, Tennessee-based Covenant Logistics despite safety concerns voiced by owner-operators and crash victim advocates. The exemption allows a holder of a commercial learner’s permit (CLP) who has passed the skills test but not yet received an actual CDL document to drive a Covenant truck while accompanied…
Before Donald Trump chose Ohio’s JD Vance as his candidate for vice president, the U.S. Marine Corps veteran, lawyer, and author of “Hillbilly Elegy” gained the national spotlight as one of the authors of the Railway Safety Act of 2023. The bipartisan legislation — sponsored by six U.S. senators, three Republicans and three Democrats — …
Port Houston saw a surge in container exports in June, while crude oil exports rose at the Port of Corpus Christi. Port Houston saw 16% boost in export container volumes in June Port Houston handled 339,157 twenty-foot equivalent units in June, a 7% year-over-year increase. The port handled 174,175 TEUs in container exports during the…