China has long been considered “the world’s factory,” offering Western manufacturers inexpensive, skilled labor and robust supply chain infrastructure. Pandemic-fueled production and shipping delays — combined with rising labor costs and geopolitical tensions across the globe — have undercut those benefits in recent years. As a result, more and more companies are moving their manufacturing…
To view more FreightWaves infographics, click here The post The vast majority of Class I train derailments happen in rail yards appeared first on FreightWaves.
Decarbonizing shipping is like herding cats, and that herd, otherwise known as the International Maritime Organization (IMO), unveiled major new global emission-reduction targets Friday. From a future freight rate perspective, it was a win for tanker and dry bulker owners. The uncertainty over future regulations that has stymied newbuilding orders was not only kept in…
Freightos, a digital marketplace for international air and ocean shipping, announced Tuesday that it will reduce staff levels by 13% and lowered its full-year outlook again in an effort to stem mounting losses as revenues fall short of expectations because of a prolonged downturn in freight markets. The news is the latest example of the…
WASHINGTON — A new panel set up to advise federal regulators is looking into limiting — or eliminating — the ability of a trucking company to wield financial power over a driver through truck lease-purchasing agreements. The recommendation, still in draft form, was one of the discussion points Tuesday during the first meeting of the…