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New California Environmental Plan Could Transform Trucking

Get ready for California environmental regulations to shake up another industry – this time it will be freight and shipping. Look for state regulators to release a draft of California’s Sustainable Freight Action Plan later this week. The plan aims to transform trucking and shipping in the Golden State to zero-emission technologies by 2050, said consultant Erik Neandross, chief executive of Gladstein, Neandross & Associates.

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Maersk profits hit by low freight rates and oil price

Profits at AP Møller-Maersk slumped as record low container shipping rates and the weak oil price hurt the Danish conglomerate. Maersk Line, the world’s largest container shipping line and a bellwether for global trade, saw a collapse in net profit by 95 per cent to $37m in the first quarter compared with a year earlier. It estimated that container demand — a proxy for global trade — grew just 1 per cent in the first quarter. However, at a group level Maersk beat analysts’ forecasts by posting an 86 per cent fall in net profit to $224m, ahead of estimates of $56m, according to a poll by Reuters. Its shares rose 5 per cent to DKr9130 in early trading on Wednesday.

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Today’s Top Supply Chain and Logistics News From WSJ

The U.S. factory sector is barely growing and it’s offering little hope for stronger expansion in the future. The Institute for Supply Management’s latest index of manufacturing activity fell a full percentage point to 50.8 in April, the WSJ’s Ben Leubsdorf reports, staying just above the 50 reading that divides expansion from contraction. Perhaps more significant for shipping business, the New Orders index fell back 2.5 percentage points, still

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Trucking industry retirees could face big pension cuts

Imagine yourself in retirement. Your income is fixed, but you planned accordingly. Then, more than $1,000 a month is taken from your income and there’s nothing you can do about it. Going back to work isn’t realistic at your age, and you know it’s only a matter of time before your health fails and medical costs rise. That’s the dilemma thousands of retired blue-collar workers, some of them in the Lehigh Valley area, are facing. They have been told their pension fund is severely

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Today’s Top Supply Chain and Logistics News From WSJ

South Carolina’s Port of Charleston has a $2 million solution to the shipping industry’s container-weight problem. The eighth-largest container port in the U.S. plans to help exporters weigh containers before loading them onto ships, WSJ Logistics Report’s Loretta Chao writes, making Charleston the first major U.S. port to offer assistance with impending regulations that have been roiling the shipping world. Shippers world-wide have been locked in conflict with ocean carriers over a new International Maritime Organization rule

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