Ørsted partners with Virginia for wind energy projects

Wind developer Ørsted and the Virginia Port Authority will develop an offshore wind terminal at Portsmouth, enabling Ørsted to service planned projects throughout the northeast.

US truck capacity peaks, demand flattens

Truck volumes have flattened, not collapsed, a trucking analyst tells SMC3’s Jumpstart 2020 Conference. Truck capacity hit its peak in Q4 2019, and is expected to contract this year.

USMCA gives sluggish Mexican economy trade hope

Mexico’s economy will stagnate this year after experiencing a technical recession in 2019 that saw GDP decline in the first three quarters, but the United States-Mexico-Canada Agreement is expected to provide a much-needed boost.

UP to resume service on nearly 60 lanes it cut in 2018

Union Pacific Railroad will resume service on nearly 60 previously eliminated lanes beginning Feb. 1, a move it linked to its precision scheduled railroading operation, but others said was designed to win back lost market share.

IMO to review black carbon fuel emissions concerns

The use of low-sulfur fuel and LNG in shipping have come under fire from groups in Europe alleging that harmful emissions from certain low-sulfur blends and methane could be harmful to the environment.

Essential Reads

The US-China trade war slammed import volumes sufficiently enough in 2019 that imports from Asia experienced their first year-on-year drop since the 2009 global recession.
Expect the sale or spin-off of some business to make XPO more a “pure-play” LTL trucking company — smaller, but more focused on US shippers and better positioned to increase shareholder value.
Ag exporters are pleased by Wednesday’s signing of the US-China “Phase One” trade agreement, but the immediate impact on export volumes in the westbound trans-Pacific is unknown because the deal lacks specific details on commodity codes and tariff levels, they say.
Factories in China close for the lunar new year holidays that begin on Jan. 25, and the high spot rates enjoyed by carriers on the trade are beginning to fall.
Return of scrubber-fitted ships to test carrier capacity plans
The fleet-to-orderbook ratio is at its lowest in nearly a decade as carriers maintain a tight grip on capacity, aided by scrubber retrofitting and scrapping.