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A handful of shipping stocks have left the rest in the dust this year. Dorian LPG (NYSE: LPG) is at the forefront. Its adjusted closing price, accounting for dividends, is up 63% year to date. On Monday, its share price hit its highest level since the company went public in 2014. Dorian operates a fleet…
Transportation metrics slid again in December with capacity increasing at a faster pace and prices declining at a higher rate, according to a monthly survey of supply chain executives. However, there was some optimism that the cycle may turn in the new year. The Logistics Managers’ Index (LMI) registered a 63.3 reading for transportation capacity…
WASHINGTON — The training departments of three large truckload companies want to be exempted from federal rules for entry-level driver training because they claim it is causing them to be short of both instructors and drivers. Drivers of the three companies — Heartland Express (NASDAQ: HTLD), Contract Freighters Inc. (CFI) and Millis Transfer (acquired by…
Morgan Stanley cut earnings estimates for all the transportation companies it covers on Tuesday, citing rising insurance costs. It continues to believe the truckload space will be the most impacted as large jury verdicts remain a threat. The firm said both nuclear verdicts and a prolonged period of insurance companies incurring costs above general inflation…
An early Thursday morning derailment involving a BNSF train near Raymond, Minnesota, led to an evacuation of area residents within a half-mile of the site. The train was carrying 22 rail cars of mixed freight, including ethanol and corn syrup. The derailment, which occurred at 1:02 a.m. local time, caused four rail cars to catch…
Chart of the Week: Outbound Tender Volume Index, National Truckload Index – USA SONAR: OTVI.USA, NTI.USA Truckload demand shot up 6% to end April as shipper requests for freight capacity hit their highest levels since the first week of the year. National dry van spot rates (NTI) have flatlined over the past two weeks after plummeting 3.5% to…