Derik Andreoli weighs in on the impact the crisis in Japan will have on the oil and fuel markets. He states that on one side, the decrease in production leads to less demand for oil and fuel, while the other side shows that the loss of nuclear power plants will cause them to use more alternative power sources.
After the longest streak of price increases in diesel fuel, the US average fuel prices finally dropped by a tenth of a cent last week. This will most likely be a short-lived drop, as crude oil prices rose on Monday and due to the crises in Libya and Japan.
A study by SJ Consulting Group shows that total LTL revenue in 2010 rose 9.1 percent over 2009. This is coming from a 24.4 percent decrease in 2009 from 2008, which means the LTL trucking industry is far from recovery.
The Bureau of Transportation Statistics of the US Department of Transportation has compiled research for N.A. surface trade numbers for 2010. The surface trade between the US and NAFTA partners increased 24.3 percent in 2010 compared to 2009, which should show larger increases with the recent legislation to increase relations with Mexico.
The seven largest freight railroads in the US added 1,198 jobs in February, which was the first increase since November.
The International Maritime Organization (IMO) has stated that container lines are making changes to their ship schedules to and from Japan, while not halting any services to the country.
– Ben Dundas, Web Analyst