freight

Truck driver sacrifices home time to protect family amid COVID-19 pandemic

It’s been 81 days since truck driver Mike Baker has been home, but says he plans to stay out on the road until scientists give the U.S. the all-clear that the coronavirus pandemic is over.

Baker of Weymouth, Massachusetts, is headed to Georgia with 5,000 cases of Jimmy Dean Breakfast Bowls. He admits it’s been a lonely few months living in his truck, but said he tries not to focus on it too much.

“Prior to COVID-19, I got home about every six weeks, but I’m well past that now,” Baker told...

https://s29755.pcdn.co/news/truck-driver-sacrifices-home-time-amid-coronavirus-pandemic

Freight Futures daily curve: 5/18

Freight Futures data to watch today:Weekly spot month futures price changes

Trucking Freight Futures ended the week on a down note across the board Friday as uncertainty in the market continues to weigh. Friday’s downturn mostly wiped out a recovery in the futures markets week-over-week. The spot National contract (FUT.VNU202005) ended lower by 0.51% on Friday, negating an otherwise positive week and causing the average to end fractionally lower at $1.359 per mile. The East regional contract...

https://s29755.pcdn.co/news/freight-futures-daily-curve-5-18

Container shipping teaching OPEC lesson in market management: Fuel for Thought

Container shipping rates vs bunker charge

If OPEC looks out to sea it will find a kindred spirit. Both the oil industry and global trade have been ransacked by a collapse in global demand, with oil producers and the shipping sector employing strategies to restore balance.

While an alliance of ocean carriers has been keeping freight rates stable, there is a difficult journey ahead before they are seen as flag bearers for market management.

Carriers moved fast and decisively to reduce overcapacity and prevent a dramatic drop in freight...

https://blogs.platts.com/2020/05/11/container-shipping-opec-market-management/

Freight Futures daily curve: 5/7

Freight Futures contract to watch today:Spot month futures price changes

The Trucking Freight Futures markets appear to have found their footing on Wednesday after falling off a cliff earlier this week. The spot National contract (FUT.VNU202005) rose a fraction to  $1.358 per mile, as did both the West regional (FUT.VWU202005) and the South regional (FUT.VSU202005) contracts, which inched up to $1.461 and $1.205, respectively. The East regional average (FUT.VEU202005) slipped a fraction to...

https://www.freightwaves.com/news/freight-futures-daily-curve-5-7

Family of Wyoming man killed in truck crash sues driver, carrier

The family of a man killed two years ago in a tractor-trailer crash on Interstate 80 in Albany County, Wyoming, has filed a wrongful death lawsuit against a North Carolina trucking company and one of its former drivers.

Vidal Madera, 57, of Laramie, Wyoming, died when Tonya Hightower, 48, of Wichita, Kansas, lost control of her rig while traveling westbound on I-80 around 5:15 a.m. on March 21, 2018, drove through the median and hit Madera, who was driving a 2001 Chevy Cavalier in the eastbound...

https://s29755.pcdn.co/news/family-of-wyoming-man-killed-in-truck-crash-sues-driver-carrier

‘Mayday’ protest underway at nation’s Capitol as truckers protest low rates

A convoy of around 70 small-business truckers convoyed to the nation’s Capitol around 2:30 a.m. on Friday, May 1, to protest low freight rates amid the COVID-19 pandemic.

The group plans to remain parked along Constitution Avenue until May 4 in hopes of attracting the attention of President Donald Trump about the plight of small-business truckers, said Scott Jordan of Peculiar, Missouri, and owner of Powerhouse Transportation.

He has written a letter, which he hopes to deliver to Trump in person.

“...

https://www.freightwaves.com/news/mayday-protest-underway-at-nations-capitol-as-truckers-protest-low-rates

Crunch time for international shipping – keeping containers in the supply chain

International shipping lines play a crucial role in bringing essential goods to Australia and supporting Australia’s economy by taking our export to global markets.  These services are even more important during the current COVID-19 crisis. 

Like many other organisations in the supply chain, shipping companies in all sectors are experiencing cost pressures as overall global trade is in decline. 

In the container shipping sector, there is a clearly a reduction in forward import orders towards the...

https://shippingaustralia.com.au/international-shipping-vital-during-covid-19-and-more-important-than-ever-that-the-containers-are-unpacked-and-returned-so-that-they-remain-in-the-supply-chain/

Tanker Freight Rates Tumble Ahead of OPEC+ Talks

  • Supertanker freight rates have fallen after seeing a high last week.
  • Freight rates can drop further if OPEC+ countries decide to cut output sharply.
  • It will reduce transport and storage demand for oil and jump again if producers fail to reach an agreement.
  • Threat of big production cut combined with lower demand dampened VLCC market.
  • VLCC freight rates were at about $30,000 per day at the start of March.
  • Saudi Arabia pledged to unleash its vast crude supplies following the collapse of supply...

http://mfame.guru/tanker-freight-rates-tumble-ahead-of-opec-talks/

Baltic Exchange And Freightos Unveil Visibility in Freight Rates Indices

  • Daily spot ocean freight rate indices for 40-foot containers are available via the Baltic Exchange and the Freightos.
  • It will add real-time, transparent price discovery and risk mitigation into the container freight market.
  • FBX is based off of live pricing data from hundreds of global logistics providers.
  • These rules are designed to ensure benchmark quality, integrity, continuity, and reliability.
  • It covers 12 key trade lanes based on real data via Freightos and its live digital freight...

http://mfame.guru/baltic-exchange-and-freightos-unveil-visibility-in-freight-rates-indices/

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