Latest Transportation and shipping News
After Tesla price cut, Ford follows suit with Mustang Mach-E
DETROIT (AP) — Ford is cutting prices on its Mustang Mach-E electric SUV by as much as $6,000 just weeks after market leader Tesla took similar steps. The Detroit automaker is increasing production of the Mach-E this year and said it is taking advantage of streamlined costs to...
Carney proposes operating budget increase of more than 7%
DOVER, Del. (AP) — Democratic Gov. John Carney is proposing to boost Delaware’s government operating budget by more than 7% over the current year’s budget, with hundreds of millions of dollars in new spending for state employee pay raises, health care and affordable housing. ...
CSX railroad profit up 9% on higher fuel surcharges, rates
OMAHA, Neb. (AP) — CSX hauled in 9% more profit in the fourth quarter as the railroad hauled less cargo but charged higher shipping rates and tacked on more fuel surcharges. The Jacksonville, Florida-based railroad said Wednesday that it earned $1.02 billion, or 49 cents per...
Norfolk Southern profit up 4% but expenses jump higher
OMAHA, Neb. (AP) — Norfolk Southern delivered 4% more fourth-quarter profit but higher expenses driven by soaring fuel costs hurt the bottom line even as service improved across the railroad. The Atlanta-based railroad reported fourth-quarter profit of $790 million, or $3.42 per...
Union Pacific 4Q profit slips 4% on weather, hiring problems
OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit slipped 4% as severe winter weather snarled shipments in late December and disrupted the railroad's efforts to eliminate the delayed deliveries and other problems shippers complained about last year. The Omaha, Nebraska-based...
Inspections of Ukrainian grain ships halved since October
DAVOS, Switzerland (AP) — Inspections of ships carrying Ukrainian grain and other food exports have slowed to half their peak rate under a U.N.-brokered wartime agreement, creating backlogs in vessels meant to carry supplies to developing nations where people are going hungry, United Nations and...
Lebanon to take out $116m in loans for ailing electric grid
BEIRUT (AP) — Lebanon's caretaker government Wednesday approved opening credit lines totaling $116 million to help fix its crippled state electricity grid. The cash-strapped country for over two years has struggled with rampant power cuts that have crippled much of public life,...
Report: Oil price cap takes small slice of Russia's revenue
FRANKFURT, Germany (AP) — A price cap and European Union embargo on most Russian oil have cut into Moscow's revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its action in Ukraine because the $60-per-barrel cap was “too lenient," researchers said Wednesday. ...
Navajo company sues BNSF Railway over coal transportation
FLAGSTAFF, Ariz. (AP) — One of the largest coal producers in the United States has sued a major freight railroad, alleging it breached a contract to transport coal from Montana for use overseas. The Navajo Transitional Energy Co. alleges that major shortcomings in BNSF Railway...
Union Pacific railroad puts its shipping limits on hold
OMAHA, Neb. (AP) — Union Pacific says it will stop imposing temporary limits on certain businesses' shipments while it reviews the policy that federal regulators and shippers criticized at a hearing last week. Union Pacific has put more than 1,000 of these embargoes in place this...
