The following “Transportation Happenings” occurred during the past week that you may find of interest.
Source: Bob Griffen, First Coast Logistics
- Ocean Freight Rates are up in the major East/West Trade Lanes to the U. S. by more than 100%. This is a good indication that supply and demand are closer to being balanced and that there is a slight up-tick in economic activity.
- Both SWIFT and KNIGHT Transportation have announced sharp profit declines
- YANG MING’s stock shares are still suspended
- LANDSTAR reported $780.9 Million Revenue for the first quarter of 2017.
- No further expansion of the Panama Canal is in the cards unless another source of water is found. Despite new conservation methods for the newly opened locks, they are at the limit of use based on current water sources