business

Fuchs: Efficient Surface Transportation Board will foster rail competition, growth

DENVER — The chairman-designate of the Surface Transportation Board says he is transforming the regulatory agency into a more efficient body that will help support competition and growth for railroads.

“We want to break down barriers to growth, encourage competition and elevate the role of markets instead of government,” STB Chairman Patrick Fuchs told a rail industry conference Tuesday. “More broadly, I want the board to be more efficient and effective, to deliver for business, and the country.”

https://www.freightwaves.com/news/fuchs-efficient-surface-transportation-board-will-foster-rail-competition-growth

Gallatin AI raises $15M in seed funding to advance military logistics

Gallatin AI emerged from stealth mode on Tuesday and announced it has secured $15 million in a pre-seed funding round led by venture capital firm 8VC.

The Washington-based defense technology startup aims to transform military logistics using AI to improve the speed and effectiveness of critical supply chain decisions, company officials said.

“We’re entering this new era … whether it’s the Houthis and cost-effective drones and rockets, whether it’s great power competition in the Pacific, there’s...

https://www.freightwaves.com/news/gallatin-ai-raises-15m-in-seed-funding-to-advance-military-logistics

Ocean shipping carbon tax could gouge US consumers, say opponents 

Government representatives are meeting this week to finalize the first-ever global carbon tax on ocean shipping emissions in a move that opponents say could disproportionately hit American consumers.

The initiative is being driven by the International Maritime Organization, which regulates global shipping, following a 2023 agreement that sets a goal of net-zero shipping emissions by 2050. 

Members of the organization’s Marine Environment Protection Committee are gathering this week in London...

https://www.freightwaves.com/news/ocean-shipping-carbon-tax-could-gouge-us-consumers-say-opponents

Port of LA’s Seroka says tariffs to cut container volumes by 10%

Container traffic at the busiest U.S. import gateway is expected to drop by 10% in the second half of the year.

Container volumes at the Port of Los Angeles are expected to plunge by double digits in the second half of the year following months of frontloading and higher import prices due to U.S. tariffs.

“It’s my view that the second half of this year, beginning July 1 through the end of the year, we’re going to start to see a drop in cargo [year on year],” said Port Executive Director Gene...

https://www.freightwaves.com/news/port-of-las-seroka-says-tariffs-to-cut-container-volumes-by-10

ATBS says independent drivers earned a little more in ’24 but drove more as well

Independent truck drivers on average made a bit more money in 2024 than they did in 2023, but they worked harder for those extra dollars.

That’s the conclusion of Todd Amen, the president of ATBS, long one of the leading accounting and financial advisers serving independent owner-operators. With income tax day looming in less than two weeks, Amen by now has processed enough tax returns to have a critical mass of data on how truck drivers did in a market last year that most people were happy to...

https://www.freightwaves.com/news/atbs-says-independent-drivers-earned-a-little-more-in-24-but-drove-more-as-well

Supply chain visibility tops Maersk logistics trends survey; AI finishes last

Supply chain visibility and diversification, and the Internet of Things topped a new survey of most relevant logistics trends, as AI, while broadly hyped, finished at the bottom of the list.

The Logistics Trend Map, developed by Maersk (OTC: AMKBY) in collaboration with Statista, leveraged expert interviews, deep data analysis and insights from over 500 industry leaders to construct a comprehensive guide to the most impactful trends shaping global trade and supply chains.

Chart: Maersk

Maersk in...

https://www.freightwaves.com/news/supply-chain-visibility-tops-maersk-logistics-trends-survey-ai-finishes-last

Landstar anticipates fraud-related earnings hit

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Landstar System Inc. (NASDAQ:LSTR) has found itself at the center of a significant supply chain fraud investigation, leading to a major revision of its first-quarter 2025 earnings guidance. Investors have responded to the revelation, disclosed in a late Wednesday 8-K filing, with Landstar’s stock taking a hit over the past 24 hours.

According to Landstar’s recent update, the company initially anticipated Q1 2025 earnings per share to range between 90 cents and 95 cents, assuming revenue remained...

https://www.freightwaves.com/news/landstar-anticipates-fraud-related-earnings-hit

Q&A: Can the industry loosen up its data bottlenecks?

The logistics industry is undergoing its own data revolution, yet many companies still struggle to make data-driven decisions due to outdated processes and institutional bottlenecks. Despite investing in new systems, logistics providers and global agencies often find themselves stuck in manual workflows that hinder them from pulling the true potential from their data.

Ventagium was founded to bridge these technology gaps after its founders saw large nongovernmental organizations struggle to make...

https://www.freightwaves.com/news/qa-can-the-industry-loosen-up-its-data-bottlenecks

Tariffs won’t drag consumer spending in 2025, say retailers

The National Retail Federation forecast that retail sales during 2025 will grow between 2.7% and 3.7% over 2024 to between $5.42 trillion and $5.48 trillion.

The 2025 sales forecast compares with 3.6% annual sales growth of $5.29 trillion in 2024. This year’s forecast is also in line with the 10-year pre-pandemic average annual sales growth of 3.6%.

The announcement Wednesday was made during NRF’s fifth annual State of Retail & the Consumer virtual event on the health of American consumers and...

https://www.freightwaves.com/news/tariffs-wont-drag-consumer-spending-in-2025-say-retailers

Truckload volumes and bond yields say recession, not inflation, the bigger risk

The U.S. economy finds itself at a crossroads following President Donald Trump’s dramatic announcement of sweeping new tariffs on imports. While some economists fear the tariffs could stoke inflation, key economic indicators – including bond yields and truckload volumes – are flashing warning signs that a recession from suppressed consumer demand and business activity may be the more pressing concern for policymakers and investors alike.

On Wednesday, Trump unveiled what he called “the steepest...

https://www.freightwaves.com/news/truckload-volumes-and-bond-yields-say-recession-not-inflation-the-bigger-risk

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