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The day’s most important moves across every mode — air, rail, road, ocean and the trade that ties them together.
| ● On the Wire |
FRI · AUG 21 · 2026 |
5 stories |
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Register today for the Houston International Maritime Conference (HIMC26) happening this November in Downtown Houston. Our agenda is out now! Buy your early bird ticket by August 31.
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FUEL · DIESEL MARKETS
BY JOHN KINGSTON · AMERICAN SHIPPER · AUG 20, 2026
Diesel prices have jumped 71.5% since the Iran war began in late February — far outpacing crude’s 26.4% rise — pushing the refining margin, or crack spread, above $90 a barrel for the first time. Ukrainian strikes on Russian refineries, Middle East refining damage, and U.S. refiners running near full tilt are all squeezing diesel supply.
| THE TAKE — For shippers, diesel — not crude — is what shows up in fuel surcharges, and this gap means those surcharges could keep climbing even if oil prices look tame. Locking in fuel-surcharge terms now, rather than benchmarking off crude headlines, is the more defensible move. |
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OCEAN · PORTS & INFRASTRUCTURE
The Army Corps of Engineers has approved a federal permit for the $1.8 billion Louisiana International Terminal at the Port of New Orleans, a two-berth facility built to handle vessels carrying up to 16,000 containers each. MSC and Ports America are putting in over $800 million alongside $300 million in federal grants, with an initial opening targeted for 2028.
| THE TAKE — A new Gulf Coast mega-terminal gives shippers another routing option away from congested East and West Coast gateways, though the 2028 opening and 25-year build-out mean any relief is years away, not immediate. |
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TRADE · CROSS-BORDER
Mexican exports rose 34.4% year-over-year in June, with computing equipment overtaking automotive products as the top export category to the U.S. But tighter B-1 visa enforcement and English-language requirements are shrinking the pool of qualified cross-border drivers, and congestion at Manzanillo is adding further friction.
| THE TAKE — Shippers moving freight across the southern border should expect capacity to stay tight even as volumes grow — carriers with driver availability are increasingly picking their freight, favoring shippers who make pickups and drops easy over those competing purely on rate. |
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ROAD · CARRIER SHUTDOWN
Portland, Oregon-based LTL carrier TP Freight Lines, founded in 1922, suspended operations Aug. 4 after missing payroll the next day, affecting more than 100 Teamsters-represented drivers and dockworkers. The union says the company — acquired by Mohamed Hegab in mid-2025 — had also fallen behind on health insurance premiums and retirement contributions before the shutdown.
| THE TAKE — A century-old regional LTL carrier folding this abruptly is a reminder that ownership changes and thin margins can turn into a shutdown with almost no warning — shippers using smaller regional LTL carriers should watch for early signs of financial strain (late claims payments, service cuts) rather than waiting for a public announcement. |
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AIR · LABOR
Cargojet’s new five-year pilot contract carries a 53% wage increase — a 26% raise retroactive to July 1, then 5% annually — and CEO Pauline Dhillon says the airline will pass those costs to customers as contracts renew, with shorter-term deals feeling it first. Cargojet is also raising minimum monthly flying days from 15 to 16 to offset some of the added cost.
| THE TAKE — Shippers relying on Cargojet’s overnight air network should expect rate increases to show up at each contract renewal rather than all at once — negotiating contract length and timing now could soften how soon those costs land. |
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OCEAN · PORT VOLUMES
The Port of Los Angeles moved 960,464 TEUs in July, its second-highest July on record and just below June’s 1-million-unit milestone. Volume was 6% below last year’s tariff-driven front-loading surge but 7.5% above the five-year July average, with Executive Director Gene Seroka pointing to resilient consumer demand.
| THE TAKE — Sustained import strength even after last year’s front-loading comparison suggests underlying consumer demand, not just inventory timing, is holding up — shippers routing through LA should watch whether that holds once the easier year-over-year comps disappear this fall, and note Seroka’s point that the port has room to absorb more cargo if trade patterns shift its way. |
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OCEAN · CARRIER EARNINGS
Zim’s second-quarter net income nearly tripled year-over-year to $64 million as revenue climbed 9% to $1.78 billion, with volumes up 3% to 922,000 container units and average freight revenue per unit up 8% to $1,590. The carrier reaffirmed full-year adjusted EBITDA guidance of $2 billion to $2.4 billion as its merger with Hapag-Lloyd works through regulatory review.
| THE TAKE — Zim’s rate and volume gains show carriers are still capturing pricing power even with regulators still weighing the Hapag-Lloyd tie-up — shippers negotiating contracts with Zim should factor in the possibility of shifting capacity and service networks once that merger clears. |
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OCEAN · RO/RO & AUTO SHIPPING
Wallenius Wilhelmsen CEO Lasse Kristoffersen says Chinese vehicle exports have surged past 1 million units a month on improved product quality rather than inventory clearing, leaving the company’s Asian fleets fully booked. An estimated 2-4 million vehicles a year are moving via containers or other workarounds because specialized car-carrier capacity can’t keep up, and most new PCTC newbuilds won’t arrive until 2030 or later.
| THE TAKE — Shippers moving vehicles or other RoRo cargo out of China should plan for continued capacity rationing for years, not months — the car-carrier orderbook covers only about a fifth of the existing fleet, so booking priority and long-term space agreements will matter more than spot rate shopping. |
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OCT 27–28, 2026 · THE SIGNAL AT CHATTANOOGA CHOO CHOO · CHATTANOOGA, TN
FreightWaves’ flagship event blends the latest FreightTech with rapid-fire demos and world-class speakers, plus a Buy One, Get One offer if you register by August 24th.
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American Shipper · The Daily — published weekdays
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