Continental Resources' Harold Hamm: Oil needs to be north…

ELDs may help reshape refrigerated market

Demand for more “organic” and “ethnic” produce will also help further complicate the logistics of the fresh foods freight sector.

Small fleets and own-operators provide a large proportion of the freight transportation capacity for fresh foods and produce shipments. Yet they are also poised to be the two trucking elements hit hardest by the impending electronic logging device (ELD) mandate this December, according to two noted intermodal industry experts.

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Timken acquires Groeneveld in $280-million deal

NORTH CANTON, OH—The Timken company, producers of engineered bearings and mechanical power transmission products, is acquiring Groeneveld Group, an automatic lubrication manufacturer, for approximately $280 million. For the 12 months ending May 31, 2017, Groeneveld Group sales were approximately $105 million. The transaction is expected to be accretive to adjusted earnings per share in 2017. Additionally, Groeneveld Group has a strong margin profile, which is expected to be accretive to Timken's EBITDA margin and to be further enhanced as a result of synergies ...Read the rest of this story

Oil stays below $47 as U.S. inventory report revives glut worries

Oil edged lower towards $47 a barrel on Wednesday after an industry report said U.S. inventories increased, reviving concerns that a three-year supply glut is far from over. The American Petroleum Institute (API) said on Tuesday U.S. crude inventories rose by 851,000 barrels last week, while analysts expected a decline. "There appears to be no end to the bearish news on the oil market," said Carsten Fritsch, analyst at Commerzbank.


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