With the regular major league baseball season drawing to a close, many Oakland Athletics fans are hoping that they’ll have a new ballpark on the waterfront in a couple of years. The team has even gained the Port of Oakland’s Board of Port Commissioners’ unanimous approval to an exclusive negotiating term sheet.
The main hedging participants for trucking freight futures are commercial users: trucking carriers, shippers, and 3PLs. While they each have a different hedging objective, their primary use of trucking freight futures is to hedge against the future risk of adverse changes in trucking rates.
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The decades-old driver shortage in the trucking industry is like a toothache that you ignore—it tends just to get worse and worse without treatment. The American Trucking Associations’ (ATA) latest forecast that the industry is expected to need 60,800 more for-hire over-the-road truckload drivers at the end of the year did not startle any trucking executive grappling with the shortage.
East Coast rail shippers stymied by the lack of double stack rail container option on a 125-year-old tunnel underneath Baltimore may be seeing light at the end of the tunnel. A $125 million federal grant issued by the Transportation Department under its Infrastructure of Rebuilding America Grant Program (INFRA) has reopened shippers’ long-held dream of allowing double stack service on a major rail line operated by CSX Transportation.
July shipments, at 1,120,131, posted a 1.5% annual gain, and on a year-to-date basis, shipments through July–at 7,112,696 ––are up 0.1% compared to the same period in 2018.