18 Apr Corn Belt Senators Ask EPA to Stop Issuing Waivers Exempting Refineries From Biofuel Laws Thirteen Corn Belt senators, led by Minnesota Democrat Amy Klobuchar and Iowa Republican Chuck Grassley, have petitioned the U.S. Environmental Protection Agency to stop issuing waivers that exempt certain oil refineries from federal biofuel laws. Read more...
18 Apr Worldwide Flight Services Lays Off 161 at Philadelphia International Airport Cargo-handler Worldwide Flight Services will lay off 161 employees at the American Airlines freight facility at Philadelphia International Airport in June because the airline has not renewed its contract. Read more...
18 Apr Ivanhoe Cambridge Targets Canadian Warehouse Space in Amazon Era Ivanhoe Cambridge Inc., the real estate arm of one of Canada’s biggest pension funds, plans to increase its assets by a third with a bet on the booming warehouse space. Read more...
18 Apr Fed Says Tariff Concerns Cloud Otherwise Solid Growth Outlook New tariffs and concerns over widening trade disputes cast a shadow over the Federal Reserve’s most recent survey of U.S. businesses even as all 12 regions reported continued robust job growth with few signs of overheating. Read more...
18 Apr Canada Oil Recovery Faces Threat From Potential Rail Strike A potential strike by Canadian Pacific Railway Ltd. workers threatens to derail a recovery in Alberta’s beaten-down heavy oil prices. Read more...
18 Apr China’s $1 Billion Port With Almost No Container Traffic Each year, about 60,000 ships vital to the global economy sail through the Indian Ocean past a Chinese-operated port on the southern tip of Sri Lanka. Few stop to unload cargo. Read more...
18 Apr Blockchain on Verge of Revolutionizing Shipping Industry Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. Read more...
18 Apr Daseke Buys Canadian Energy Services Firm Aveda Daseke Inc. on April 16 continued its acquisition activity, announcing it will purchase Aveda Transportation and Energy Services, a large North American oil rig moving company based in Calgary, Alberta. The deal is expected to close in June. Read more...
18 Apr Nussbaum Transportation Begins Employee Stock Ownership Plan Brent Nussbaum, CEO of Nussbaum Transportation, gave 35% of ownership to employees through an employee stock ownership plan, known as an ESOP. Read more...
18 Apr Oil Rises to Highest Since 2014 on Bullish US Inventory Report Crude rose to its highest level since 2014 in New York as the drop in U.S. inventories reported by an industry group helped to sustain a rally spurred by geopolitical risks. Read more...