Transport Topics
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The global shipping industry is in the midst of a huge downturn, with weak demand engulfing it for the past few years. Experts acknowledge that the sector's biggest hurdle is overcapacity, but the wave of mergers and acquisitions means the hard times will pass eventually.
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Old Dominion Freight Line Inc. reported less-than-truckload shipments dropped in November 2016 compared with the year prior, but revenue was up overall, according to a Dec. 2 filing with the U.S. Securities and Exchange Commission.
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Increases next year in private highway and bridge construction activity across residential and commercial developments will help transportation construction to grow by 1.3%, a leading transportation economist indicated Dec. 2.
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The International Brotherhood of Teamsters is concerned about a proposed change at XPO Logistics that would increase the maximum number of shares it can issue as compensation 400%, from 500,000 shares to 2.5 million, the union wrote in a Dec. 1 letter to the company's board of directors.
West Virginia Trucking Association members receive a 2.7% discount
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