Diesel Slips to $2.939 per Gallon
Five-week climbing streak ends as price drops seven-tenths of a cent
Slipping an average of seven-tenths of a cent across the country, the price of diesel ended a five-week climb at $2.939 per gallon Monday, according to the U.S. Energy Information Administration.
The average price of diesel fuel has risen 46 percent since just over a year ago, when it hit bottom at $2.017 on March 16, 2009, the lowest point in the last five years.
In the past year, diesel has hit several minor peaks but not surged as it did from $3.039 in mid-October 2007 to the $4.764 per gallon all time record on July 14, 2008. In those nine months, diesel soared 57 percent.
http://www.joc.com/trucking/diesel-slips-2939-gallon
Con-way Freight, TNT Expand Partnership
Trans-Atlantic service extended to U.S. exports to Europe
Con-way Freight and TNT are expanding their trans-Atlantic partnership to include shipping U.S. exports to Europe, targeting freight shipments weighing more than 150 pounds.
The companies have been transporting freight from Europe to the United States for a year, flying imports to New York's JFK International Airport and trucking them to customers.
The new offering will simply reverse direction and follow the same route, with Con-way picking up U.S. shipments and trucking them to JFK for consolidation and loading.
In Europe, logistics giant TNT will manage customs clearance at Liège Airport in Belgium and deliver shipments using its air and road distribution network.
http://www.joc.com/trucking/con-way-freight-tnt-expand-partnership
Trailer Orders Spike 168 Percent
Strong demand points to tightening truckload capacity, ACT says
Increased truckload freight demand is showing up in surging trailer sales, says ACT Research.
Commercial trailer orders were up 168 percent year over year in February and hit their highest level in two years, the research firm reports. Dry-van trailer orders posted triple digit increases on both a month-over-month and year-over-year basis.
http://www.joc.com/trucking/trailer-orders-spike-168-percent
Cargo Thieves Go Online
Internet enables creative ways to pull off thefts
Criminal elements are becoming increasingly creative in using the internet to pull off cargo thefts throughout the supply chain, law enforcement detectives told a meeting of Harbor Truckers for a Sustainable Future in Long Beach.
Cargo thieves are using the internet to track shipments, book transportation with legitimate motor carriers, or, conversely, to set up bogus trucking operations that arrange cargo pick-ups for legitimate shippers and forwarders.
Even rival street gangs that are known for their involvement in the narcotics trade are cooperating with each other in cargo theft activities because stolen merchandise such as flat-screen TVs are easy to sell, and penalties if caught are not severe, said Chae Song, a detective with the Los Angeles County Sheriff's Department.
http://www.joc.com/logistics-economy/cargo-thieves-go-online
Wal-Mart Targets Online Sales in Asia
E-commerce system near launch in China, Japan
Wal-Mart, the world's largest retailer, is preparing to launch e-commerce operations in China and Japan as part of a global effort to increase its online presence, the Financial Times reports.
The retailer already has 282 stores in China and 371 Seiyu stores in Japan but has no direct online sales in those countries.
It is now setting up systems for adapting its new centralized dot-com technology platform, under development during the past two years, to work in the two countries. A Walmart job advertisement for a "product localization manager" for Japan and China lists responsibilities that cover preparing for the launch of an e-commerce business, the Financial Times reported.
http://www.joc.com/logistics-economy/walmart-targets-online-sales-asia
Dow 10,895.86 +45.50 +0.42%
Nasdaq 2,404.36 +9.23 +0.39%
S&P 500 1,173.32 +6.73 +0.58%
Oil 82.12 -0.05 -0.06%
Gold 1,110.30 0.00 0.00%
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VTNC 11.90...0.30...2.59%
UPS 64.13...0.46...0.72%
SAIA 14.13...0.02...0.14%
ODFL 33.04...-0.05...-0.15%
LSTR 41.59...0.19...0.46%
KNX 20.37...0.13...0.64%
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FDX 92.23...0.88...0.96%
CNW 35.47...0.29...0.82%
ABFS 29.80...0.51...1.74%
Ex-IBM exec pleads guilty in inside trading case
NEW YORK (AP) -- A former IBM senior executive pleaded guilty Monday to federal charges arising from what prosecutors call the largest insider trading case in hedge fund history.
Robert Moffat, 53, of Ridgefield, Conn., pleaded guilty to conspiracy to commit securities fraud and securities fraud, charges which carry a potential penalty of 25 years in prison.
A plea agreement, though, contained language indicating he may end up serving six months in prison or less.
http://finance.yahoo.com/news/ExIBM...topStories&pos=main&asset=&ccode=
Five-week climbing streak ends as price drops seven-tenths of a cent
Slipping an average of seven-tenths of a cent across the country, the price of diesel ended a five-week climb at $2.939 per gallon Monday, according to the U.S. Energy Information Administration.
The average price of diesel fuel has risen 46 percent since just over a year ago, when it hit bottom at $2.017 on March 16, 2009, the lowest point in the last five years.
In the past year, diesel has hit several minor peaks but not surged as it did from $3.039 in mid-October 2007 to the $4.764 per gallon all time record on July 14, 2008. In those nine months, diesel soared 57 percent.
http://www.joc.com/trucking/diesel-slips-2939-gallon
Con-way Freight, TNT Expand Partnership
Trans-Atlantic service extended to U.S. exports to Europe
Con-way Freight and TNT are expanding their trans-Atlantic partnership to include shipping U.S. exports to Europe, targeting freight shipments weighing more than 150 pounds.
The companies have been transporting freight from Europe to the United States for a year, flying imports to New York's JFK International Airport and trucking them to customers.
The new offering will simply reverse direction and follow the same route, with Con-way picking up U.S. shipments and trucking them to JFK for consolidation and loading.
In Europe, logistics giant TNT will manage customs clearance at Liège Airport in Belgium and deliver shipments using its air and road distribution network.
http://www.joc.com/trucking/con-way-freight-tnt-expand-partnership
Trailer Orders Spike 168 Percent
Strong demand points to tightening truckload capacity, ACT says
Increased truckload freight demand is showing up in surging trailer sales, says ACT Research.
Commercial trailer orders were up 168 percent year over year in February and hit their highest level in two years, the research firm reports. Dry-van trailer orders posted triple digit increases on both a month-over-month and year-over-year basis.
http://www.joc.com/trucking/trailer-orders-spike-168-percent
Cargo Thieves Go Online
Internet enables creative ways to pull off thefts
Criminal elements are becoming increasingly creative in using the internet to pull off cargo thefts throughout the supply chain, law enforcement detectives told a meeting of Harbor Truckers for a Sustainable Future in Long Beach.
Cargo thieves are using the internet to track shipments, book transportation with legitimate motor carriers, or, conversely, to set up bogus trucking operations that arrange cargo pick-ups for legitimate shippers and forwarders.
Even rival street gangs that are known for their involvement in the narcotics trade are cooperating with each other in cargo theft activities because stolen merchandise such as flat-screen TVs are easy to sell, and penalties if caught are not severe, said Chae Song, a detective with the Los Angeles County Sheriff's Department.
http://www.joc.com/logistics-economy/cargo-thieves-go-online
Wal-Mart Targets Online Sales in Asia
E-commerce system near launch in China, Japan
Wal-Mart, the world's largest retailer, is preparing to launch e-commerce operations in China and Japan as part of a global effort to increase its online presence, the Financial Times reports.
The retailer already has 282 stores in China and 371 Seiyu stores in Japan but has no direct online sales in those countries.
It is now setting up systems for adapting its new centralized dot-com technology platform, under development during the past two years, to work in the two countries. A Walmart job advertisement for a "product localization manager" for Japan and China lists responsibilities that cover preparing for the launch of an e-commerce business, the Financial Times reported.
http://www.joc.com/logistics-economy/walmart-targets-online-sales-asia
Dow 10,895.86 +45.50 +0.42%
Nasdaq 2,404.36 +9.23 +0.39%
S&P 500 1,173.32 +6.73 +0.58%
Oil 82.12 -0.05 -0.06%
Gold 1,110.30 0.00 0.00%
YRCW 0.55...0.03...5.81%
VTNC 11.90...0.30...2.59%
UPS 64.13...0.46...0.72%
SAIA 14.13...0.02...0.14%
ODFL 33.04...-0.05...-0.15%
LSTR 41.59...0.19...0.46%
KNX 20.37...0.13...0.64%
JBHT 35.64...0.00...0.00%
HTLD 16.42...0.43...2.69%
FDX 92.23...0.88...0.96%
CNW 35.47...0.29...0.82%
ABFS 29.80...0.51...1.74%
Ex-IBM exec pleads guilty in inside trading case
NEW YORK (AP) -- A former IBM senior executive pleaded guilty Monday to federal charges arising from what prosecutors call the largest insider trading case in hedge fund history.
Robert Moffat, 53, of Ridgefield, Conn., pleaded guilty to conspiracy to commit securities fraud and securities fraud, charges which carry a potential penalty of 25 years in prison.
A plea agreement, though, contained language indicating he may end up serving six months in prison or less.
http://finance.yahoo.com/news/ExIBM...topStories&pos=main&asset=&ccode=