The severe storms that have affected freight transportation in the Midwest this spring have caused many major railroads to close tracks from Texas to Canada. Debris and power outages have caused delays in many rail freight company’s shipping schedules.
The American Trucking Associations’ advance For-Hire Truck Tonnage Index increased 1.7 percent from February to March and 6.3 percent over the previous year. This comes after a decrease in February of 2.7 percent.
House Speaker John Boehner opened the door on Mon day to ending some of the tax breaks for large oil and gas producers that Democrats long sought to eliminate.
With gas prices continuing to increase, President Barack Obama’s approval ratings have done the opposite. Among Americans who say they are heavily burdened by high gas prices, only 39 percent approve of Obama’s job performance. Only 33 percent say he is doing a good job handling the economy.
Record deliveries of container ships in the next few months will likely add pressure on ocean freight rates for reduction in pricing. This will counter the recent rise in prices that has helped the ocean freight carriers to replenish funds after the recession.
– Ben Dundas, Web Analyst