Transportation Road and Rail

  • SEOUL/ SYDNEY, Sept 13- The chairman of Hanjin Group transferred 40 billion won to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take "considerable time". The parent of Hanjin Shipping pledged last week to raise 100 billion won to help rescue cargo in...

  • Sept 13- The bankruptcy of Korea's Hanjin Shipping Co Ltd is causing ripple effects for importers bringing goods from Asian factories to U.S. malls by creating a shortage of trailers to move ocean-shipping containers on U.S. roads. Terminal operators in the California ports of Long Beach and Oakland are not taking back empty containers. "If it's not fixed in the...

  • SEOUL/ SYDNEY, Sept 13- The chairman of Hanjin Group transferred 40 billion won to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take "considerable time." The parent of Hanjin Shipping pledged last week to raise 100 billion won to help rescue cargo in...

  • SEOUL/ SYDNEY, Sept 13- The chairman of Hanjin Group transferred 40 billion won to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take "considerable time". The parent of Hanjin Shipping pledged last week to raise 100 billion won to help rescue cargo in...

  • SEOUL/ SYDNEY, Sept 13- The chairman of Hanjin Group transferred 40 billion won to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take "considerable time". The parent of Hanjin Shipping pledged last week to raise 100 billion won to help rescue cargo in...

  • SAN FRANCISCO/ SEOUL, Sept 12 (Reuters)- A portion of the $14 billion in cargo trapped at sea by the bankruptcy of Hanjin Shipping Co Ltd began moving out of one California port on Monday, and a second ship received orders to head to dock, after the turmoil created by the South Korean company's collapse. Truckers began moving freight from the Hanjin Greece, one of...

  • SAN FRANCISCO/ SEOUL, Sept 12- A portion of the $14 billion in cargo trapped at sea by the bankruptcy of Hajin Shipping Co Ltd began moving out of a California port on Monday as shareholders and executives of the South Korean firm pledged funds to help resolve the turmoil created by its collapse. The Hanjin Greece, one of roughly a dozen of the company's ships...

  • Sept 8- Samsung Electronics Co Ltd on Thursday asked a U.S. judge to allow the South Korean company to pay cargo handlers to remove its goods from Hanjin Shipping Co Ltd's vessels stationed near U.S. ports after the world's seventh-largest container carrier filed for bankruptcy. "There's no earthly reason why these parties should not be permitted to cut their...

  • CHICAGO, Sept 8- The collapse of Hanjin Shipping will boost the cost to U.S. businesses and consumers of a wide range of imported goods, from furniture and clothing to fresh fruit and frozen meat, according to federal agencies, shippers and retailers. United Parcel Service Inc said on Thursday it is seeing a bump in demand for its freight services and is working with...

  • Transportation sector may indicate economic downturn

    A report by the US Bureau of Transportation Statistics says the transportation index sees moves before changes in economic growth.

  • Truck on road

    If the transportation industry is any indicator — and it usually is — then the economy could be on the brink of a downturn.

  • BEIJING, Aug 29- China's rail freight volume fell 7.3 percent in the first seven months of 2016 from the same period last year to 1.84 billion tonnes, the country's top economic planner said on Monday. The rate of decline eased from 7.5 percent in the first half of this year. In July, the amount of cargo carried by railways declined 5.8 percent on year to 263 million...

  • WASHINGTON, Aug 26- Trucks and buses in the United States may have to be equipped with devices to limit their speed under a proposed rule issued on Friday by the U.S. Transportation Department which said the move could save both lives and fuel. Speed limits on interstate highways vary across the United States, with some states allowing vehicles to drive as fast as...

  • WASHINGTON, Aug 26- The U.S. Transportation Department on Friday issued a proposed rule that would require trucks and buses to be equipped with devices that would limit their speed, a move it said could save both lives and fuel. Speed limits on interstate highways vary across the United States, with some states allowing vehicles to drive as fast as 85 mph, though...

  • Aug 18- Ride service Uber Technologies Inc said on Thursday it acquired self-driving trucks startup Otto and formed a $300 million alliance with Volvo Car Group to develop self-driving cars. Uber would also be positioned to expand into the trucking industry, which had revenue of about $726.4 billion in the United States in 2015, according to trade data.

  • LONDON, Aug 17- U.S. freight shipments are showing tentative signs of a recovery which could underpin faster growth in diesel demand in 2017.. Monthly shipments are still down by more than 1 percent from their peak at the end of 2014, according to the U.S. Bureau of Transportation Statistics. But the consecutive increases between April and June were the first time...

  • CONCORD, Aug 4- Self-driving trucking start-up Otto is poised to put its software in the hands of long-haul truckers by the end of this year for testing, its co-founders said on Thursday. Otto, co-founded by Google car and map project veterans Anthony Levandowski and Lior Ron, will also begin testing five retrofitted Volvo trucks at Northern California's...

  • BEIJING, July 28- China's rail freight volume fell 7.5 percent in the first half of 2016 from the same period a year earlier to 1.58 billion tonnes, the country's top economic planner said on Thursday. The rate of decline eased slightly from 7.7 percent in Jan-May. The state planner did not provide figures for June.

  • CHICAGO, July 27- Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a lower quarterly net profit due to a 7 percent drop in freight volumes, but the results just exceeded market expectations because of cost cutting and efficiency measures. The decline in freight at the Norfolk, Virginia- based company was led by a precipitous 25 percent drop in...

  • CHICAGO, July 27- Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a lower quarterly net profit due to a 7 percent drop in freight volumes, but the results just exceeded market expectations because of cost cutting and efficiency measures. The decline in freight at the Norfolk, Virginia- based company was led by a precipitous 25 percent drop in...