News - page 48

New research shows that freight rail rates have skyrocketed over the past decade following dramatic consolidation in the railroad industry.

The conclusion is based on research conducted by Escalation

Consultants on behalf of the American Chemistry Council. It was released after ACC urged the Surface Transportation Board to take action on reforms it claims would benefit U.S. manufacturing and the economy by increasing access to competitive freight rail service for domestic producers.

(more…)

A large part of an Interstate 5 bridge over the Skagit River near Mount Vernon, Wash., collapsed Thursday evening after an oversize truck hit an overhead span of the bridge, says a report from Time.com.

Several vehicles fell into the river when it collapsed, though no one was injured. The collapse occurred about 60 miles north of Seattle, and detours are in place to mitigate congestion, says Time’s article.

The collapse apparently occurred after a truck made contact with the bridge, but investigators are still unsure whether the truck actually caused the bridge collapse or whether the crash occurred as the bridge was collapsing, reports say.

(more…)

Where is a collision with a heavy-duty truck most likely to happen? That dubious distinction goes to New Jersey.

The ranking is based on analysis of federally recordable truck-involved crash data over three years, 2010-12, byOverdrive and sister company RigDig Business Intelligence(RigDig.com/bi). The Garden State had 12 truck-involved wrecks occurring for every 10 lane-miles of National Highway System roadway during that period.

(more…)

The price of oil made gains above $91 per barrel Thursday, rebounding from a steep drop, as the European Central Bank cut its key interest rate to a new low.

By early afternoon in Europe, the benchmark oil contract for June delivery was up 48 cents to $91.48 a barrel in electronic trading on the New York Mercantile Exchange.

The European Central Bank cut its benchmark interest rate to 0.5 percent from 0.75 percent at its meeting in Bratislava, Slovakia, on Thursday. The effects of the rate cut remain to be seen, but traders saw it as an encouraging step supporting the economy and possibly leading to increased oil demand.

(more…)

Traffic congestion on U.S. roadways is back after two consecutive years of declines, with traffic congestion up 4% in the first quarter compared to 2012, according to traffic information provider Inrix in its sixth Traffic Scorecard Annual Report.

The good news, it says, “This suggests that after a tumultuous economic year in 2012, the economy is back on the mend, bringing increased traffic congestion.”

(more…)