Here are five things worth knowing today:
1. Trump, a boost for infrastructure spending?
According to a CNN Money report, investors are hopeful that President-elect Donald Trump and Congress will spend more to help rebuild the nation’s roads and bridges. According to the report, the day after the election, shares of Caterpillar surged 7%, shares of U.S. Steel skyrocketed nearly 20%, and Nucor, Steel Dynamics, and AK Steel were all up about 10% as well. The question is how will the next president pay for infrastructure spending?
2. Trump and trucking, global shipping
Today’s Wall Street Journal Supply Chain and Logistics News report states that trucking companies expect a Donald Trump presidency to “clear a new path to growth for them.” However, the global shipping industry fears Trump’s antitrade rhetoric that could turn into international slowdowns. According to the report, “The timing is especially worrisome to shipping companies with carriers counting heavily on the U.S. to pull them out of the steepest demand downturn in three decades.” WSJ has more.
3. Extreme Truck Simulator game released
OviLex Software is releasing Extreme Truck Simulator, a simulation game for IOS and Android devices that offers players the chance to undertake the heavy lifting duties taken on by dump trucks, excavators, forklifts, etc. According to a Pocket Gamer report, the app lets users experience life behind the wheel of various trucks across 80 levels and eight different modes.
4. J.B. Hunt to expand fleet in 2017
J.B. Hunt announced that it expects to add another 500-700 trucks to its fleet next year to its dedicated contract services business managing fleets for retailers and manufacturers, The Wall Street Journal reports. In addition, the company will add 100-120 trucks to its truckload segment. According to the report, even with the additional trucks, overall capital expenditures are projected to drop to $477 million in 2017 from $515 million for 2016.
5. Transportation Research Board issues freight guidebook
The Transportation Research Board’s National Cooperative Freight Research Program has issued a pre-publication guidebook that provides policy makers with models that estimate the Freight Trip Generation, freight production, and Service Trip Attraction. TRB states these models provide the best tools to assess the various facets of freight and service activity.