Daily Infographic: Forecasting the market cycle
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C.H. Robinson confirms Bozeman to serve as CEO
C.H. Robinson Worldwide Inc. has confirmed that David Bozeman, an executive of the Ford Motor Co., will be its next CEO. The role is effective June 26, according to a news release. Bozeman is currently vice president of the customer service division and enthusiast brands at Ford (NYSE: F). Before joining the automaker last August,…
Old Dominion sees tonnage plummet again in May
Less-than-truckload carrier Old Dominion Freight Line said Monday that there was no seasonal demand uptick in May, reporting volume metrics that were a little worse than those reported in April when factoring in the prior-year comparisons. Old Dominion (NASDAQ: ODFL) reported tonnage was down 14.4% year over year (y/y) in May, which followed a previously…
Diesel benchmark down again and Saudi production will be soon
Retail diesel prices as measured by the Department of Energy/Energy Information Administration weekly average retail price dropped Monday for the 17th time in 18 weeks. The price, used as the basis for most fuel surcharges, fell 5.8 cents a gallon to $3.797 a gallon. It’s the lowest weekly price since Jan. 24, 2022. Since the…
Trans-Pacific spot container shipping rates are inching up
Shipping lines have pulled Asia-U.S. spot rates off the floor, but it’s a slog: two steps up, one step back, another two steps up, a slide back again. The general rate increase (GRI) on Thursday was partially successful, clawing back some ground lost after the April 15 GRI. According to the Freightos Baltic Daily Index…