ArcBest announced on Monday that CFO David Cobb will retire in October 2023. The company is seeking his replacement. Cobb's 17-year tenure at ArcBest (NASDAQ: ARCB) saw the company's revenue double to the north of $5 billion. Over that time, the company has developed a transportation and logistics offering that...
Orders for Class 8 trucks have nowhere to go but down.
In November, Class 8 truck orders totaled 33,000 units. However, they fell for the second month in a row following record bookings in September. Supply chain issues, growing backlogs, and a slowing economy are all likely to prevent large monthly orders from being placed in the near future. Orderbooks are...
Ship fuel prices are falling even as the Russia-Ukraine conflict continues.
When Russia invaded Ukraine, the price of ship fuel skyrocketed to all-time highs. Prices are still historically high, but they have now returned to prewar levels. Ship fuel is becoming less expensive as concerns about future demand weakness drive down the price of oil. According to Ship & Bunker, the...