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Transportation Road and Rail

  • ET3 Hyperloop concept

    Hyperloop One, which is developing technology for a futuristic transit system, has taken its total funding to $160 million.

  • CHICAGO, Oct 13- U.S. coal freight volumes, in decline for close to two years, will fall further, though the slowing pace of drop should ease the shock to U.S. railroads, the top executive of No. 3 U.S. railroad CSX Corp said on Thursday. "If we had to make our best guess today, there will be another decline in coal but it will be much less on a percentage basis and obviously much...

  • CHICAGO, Oct 12- No. 3 U.S. railroad CSX Corp on Wednesday reported a lower quarterly net profit that was hurt by an 8 percent drop in revenue and freight volumes, but came in above market expectations and sent its stock up nearly 3 percent. "Our financial results demonstrate CSX's ability to deliver value for shareholders and customers in the current business...

  • CHICAGO, Oct 12- No. 3 U.S. railroad CSX Corp on Wednesday reported a lower quarterly net profit that was hurt by an 8 percent drop in revenue and freight volumes, but came in above market expectations and sent its stock up nearly 3 percent. The Jacksonville, Florida- based railroad reported third-quarter net income of $455 million or 48 cents per share, down nearly 8...

  • CHICAGO, Oct 12- No. 3 U.S. railroad CSX Corp on Wednesday reported a lower quarterly net profit, citing an 8 percent drop in revenue and freight volumes, with coal freight down 21 percent in the three months ending Oct 31. The Jacksonville, Florida- based railroad reported third-quarter net income of $455 million or 48 cents per share, down nearly 8 percent from $507...

  • *Jens Bjorn Andersen plans to keep DSV asset-light. COPENHAGEN, Oct 4- Denmark's DSV, which became the world's fifth largest freight transportation company by buying up competitors, is considering more large acquisitions to expand in a fragmented market despite weak growth in global trade. DSV's culture is embodied in chief executive Jens Bjorn Andersen,...

  • SAN FRANCISCO, Sept 27- With its recent acquisition of self-driving truck startup Otto, Uber Technologies Inc. is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry. Otto plans to expand its fleet of trucks from six to about 15 and is forging partnerships with...

  • LONDON, Sept 27- Freight movements across the United States are showing signs of sustained growth for the first time in 18 months, which should support increases in diesel consumption in 2017.. Freight volumes hit a record in July, passing the previous peak set back in December 2014, according to the U.S. Bureau of Transportation Statistics.

  • BEIJING, Sept 27- China's rail freight volume fell 6.2 percent in the first eight months of 2016 from the same period last year to 2.1 billion tonnes, the country's statistics bureau said on Tuesday. The rate of decline eased from 7.3 percent in the first seven months of this year. In August, the amount of cargo carried by railways increased 1 percent on year to 279.3...

  • SIMFEROPOL, Crimea/ MOSCOW, Sept 21- Products for sale in the Crimean stores of two European retailers are being shipped there from Russia via a ferry and port that are subject to EU sanctions, people involved in the transportation said, suggesting companies are finding ways around the punitive economic regime facing Moscow since 2014.. Products carrying the...

  • SEOUL, Sept 19- All Hanjin Shipping Co Ltd chartered vessels that have completed unloading their cargo have been told to cancel their charter agreements and return the ships to the shipowners, a South Korean judge said on Monday. The company returned three bulk carriers earlier this month, a Hanjin Shipping spokeswoman said on Monday. Current delays in...

  • Sept 16- Schneider National Inc, one of the largest truckload carriers in the United States, is exploring an initial public offering that could value it at as much as $5 billion, including debt, people familiar with the matter said on Friday. The company may seek to raise as much as $700 million in its IPO, one of them added. In June, Schneider National acquired Lodeso...

  • 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...