If you drive the major highways anywhere in the United States, you are certainly aware of toll highways. Tolls not only increase the cost of passenger car trips but also impact the freight cost to transport products by truck throughout the United States. The toll money collected from toll payments helps pay for road maintenance, […]
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Last week, the Brazilian Federal Audit Court approved an oil auction that covers parts of the pre-salt zone offshore Brazil that was involved in a long dispute between the Brazilian government and Petrobras. The Brazilian pre-salt oil region consist of carbonates found below the salt layer. It’s oil-rich offshore reserve that is trapped below 2,000 […]
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Last week on October 5th- 8th the American Trucking Association (ATA) held its 86th annual Management Conference & Exhibition. Over 2,700 leaders in the trucking industry convened at the San Diego Convention Center to discuss key issues impacting their industry. Some of major topics of discussion along with the ATA’s plan of action are listed […]
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As the trade talks between the U.S. and China have made “progress,” many industries are left to wait and see the final impact. This past Friday negotiations hit a truce with the U.S. calling off the tariff increases and China agreeing to purchase $50 billion of agricultural products. While details are still quiet on what […]
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In September, demand for freight continued to remain strong. However a combination of tighter capacity and fuel price increases were causes for higher spot market rates. Refrigeration and flatbed freight dropped from August to September according to DAT Truckload Freight Volume Index. The index reflects changes in the actual number of spot market loads moved […]
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The bulls are off and running today because there is a bevy of bullish headlines including optimism over a U.S./Chinese trade deal and a missile attack on an Iranian oil tanker.
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Ecuador’s government was forced out of the capital, Quito, by violent protests earlier this week. The country is already in an uneasy state with the vulnerable economy that has been battered by lack of public transportation and blocked roads. These violent protests stem from President Moreno’s decision to cut subsidies which led to an extremely […]
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On Monday October 7, Occidental Petroleum chartered the Very Large Crude Carrier (VLCC) Maran Andromeda to carry oil to South Korea for a record rate of $13.25 million that is set to depart the United States toward the end of November. The reasons for the spike in freight rates recently for VLCCs is related to […]
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The 3rd quarter of the year ended just a few days ago and trucking companies all over the country are reconciling fuel purchases and miles driven to ensure proper International Fuel Tax Agreement (IFTA) tax filings. If you are not in the trucking business, IFTA is just another acronym to be thrown around, but here […]
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Gas stations across the United States are required to implement EMV Chip Readers at their pumps beginning in October 2020. Although this is a very costly transition for retail stations, the benefits for consumers will conceivably outweigh the cost. Card skimming has skyrocketed over the past few years and by having chip readers at the […]
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