J.B. Hunt Transport Services told analysts Tuesday night it’s still too early to say how the 2023 peak shipping season will shape up. The company reported second-quarter earnings per share of $1.81 after the market closed, 11 cents light of the consensus expectation and 61 cents worse year over year (y/y). A 100-basis-point increase in…
Less-than-truckload carrier Yellow Corp. issued a statement Tuesday evening saying it would defer its required contributions for June and July as planned, potentially resulting in a strike by some of its Teamsters workforce. Central States Funds, which manages health and welfare and pension funds for Teamsters at Yellow (NASDAQ: YELL) operating companies YRC Freight and…
The dockworkers union strike that shuttered the container ports of Vancouver and Prince Rupert, Canada, was supposed to be over. It’s back on again. The initial strike started July 1 and lasted 13 days. On Thursday, the British Columbia Maritime Employers Association (BCMEA) announced that a tentative four-year contract agreement had been reached with the…
A former third-party CDL skills tester was recently sentenced to two years in prison for his role in a three-year bribery scheme. In February, Kelly N. Goodman, 72, of Gooding, Idaho, pleaded guilty to one count of honest services wire fraud in the U.S. District Court for the District of Idaho. According to the release,…
Shipping stocks have a long tradition of defying expectations. At the beginning of 2023, sentiment was ebullient on crude tanker and product tanker shares. The word “supercycle” was bandied about. Global fuel demand was bouncing back from COVID, sanctions on Russia were inflating voyage distances, and the ratio of tanker tonnage on order to tonnage…