For all the discourse about globalized trade being past its peak, maritime volume data at the start of 2024 sure looks strong. And if reports from shipbuilding companies are any indication, the sector should continue its growth into the end of the 2020s and beyond. According to an article published last week by Yicai Global…
For the Insurance Council of New Jersey (ICNJ), a key word in the new law requiring minimum insurance coverage of $1.5 million for larger trucks is “umbrella.” Gary La Spisa, vice president at the ICNJ, which represents insurance providers, worked with legislators to craft the bill that makes the New Jersey requirement the highest in…
All three legs of the diesel market are going through extreme volatility, and it showed up in the weekly benchmark price used for most fuel surcharges. The average weekly retail diesel price for ultra low sulfur diesel (ULSD) posted by the Department of Energy/Energy Information Administration rose 21 cents, to $4.109 a gallon. As large…
For only the second time in recent history, Mexico was the top overall U.S. trading partner for the year. Mexico’s trade with the U.S. rose 2.5% year over year (y/y) to $798 billion in 2023, boosted by exports of gasoline and other fuels and imports of passenger vehicles. Canada ranked No. 2, with two-way trade…
Digital freight marketplace CDL 1000 has expanded its market share into Los Angeles with the acquisition of competitor Next Trucking. The Wall Street Journal reported the acquisition Monday morning, but the terms of the deal were not disclosed. Next Trucking operates at the Los Angeles and Long Beach ports, an integral area for freight in…