Latest news with #Consumer
Yahoo
5 days ago
- Business
- Yahoo
This railroad has 100 extra locomotives ready to handle a container surge
While U.S. logistics providers wait out the post-trade war lull in import shipments, BNSF Railway is setting up its network to handle an expected surge following a pause in tariffs between China and the United States. 'I guess probably the most overused words in logistics is this 'air pocket' that hit us the last couple of weeks,' said Jon Gabriel, group vice president, Consumer Products, for Omaha, Nebraska-based BNSF, in an interview. 'Now, we do have some line of sight on shipments that are coming our way, but not yet. But if you look at the bookings coming out of Asia, certainly you've seen kind of that V-shaped check mark.' It was several weeks after the tariff pause went into effect in May that the railroad started to feel the import air pocket. 'We're probably three to four weeks removed from starting to see things charged back up on the West Coast, LA-Long Beach, the Northwest Seaport Alliance [of Seattle and Tacoma],' Gabriel said. 'Post-Fourth of July, we think things will be busy. We're excited again to demonstrate that we're ready to move a lot of freight from the supply chain, just like we did in the first quarter.'The railroad has also used the import downturn to position itself for the coming recovery. 'We have more than 100 locomotives that we would call a 'surge fleet,' ready to go in the state of California alone, some 9 miles of locomotives,' Gabriel said. 'And we have a large quantity of railcars set up against traffic in California, Arizona and in Washington for the Pacific Northwest. We have also taken the opportunity to do some preventative maintenance, both on tracks and rolling stock, in pre-position against the West Coast. 'So again, we feel really good about our ability to quickly respond when traffic starts to make its way into the West Coast.' Gabriel compared the resumption to the period in 2024 after an early peak season caused by shippers frontloading to avoid East Coast port labor disruptions by the International Longshoremen's Association.'I think we went through both those on the West Coast with strong performance levels, moved a lot of freight, made a lot of capacity available.' Based on what he's hearing from supply chain partners and customers, 'we suspect we've already bottomed out; we've started to see what we call 'build,' not just in traffic that's sitting on the docks, or within earshot, of the West Coast, but not yet on a railcar. That has bottomed out and started to climb again. We have started to hear from our carriers that they have gone back to essentially full vessel utilization, meaning that for a couple of weeks, if there were still boats running, they just weren't full, and now the boats are full.' Gabriel described the initial build as 'the first little bit of a wave,' and said that based on new vessel capacity strings and other transit from Asia, the surge is probably three to four weeks away. 'We'll probably see a gradual decline and then a gradual increase, followed by a step-level increase, once all this new added vessel capacity gets to the West Coast,' he said. 'The capacity is coming back into the lane.' That would include major carriers Maersk and Hapag-Lloyd, which this week announced new direct service from Asia to the Port of Long Beach, but also smaller carriers such as CU Lines, seeing an opportunity in sharply rising rates. The China-based company is deploying five vessels of 2,400-2,800 twenty-foot equivalent units each from three Chinese ports to Long Beach. At the moment, Gabriel said BNSF intermodal volumes are modestly above year-ago levels, on lingering diversions away from the East Coast in late 2024 and frontloading in the first quarter by shippers looking to stay ahead of tariffs. 'It's nothing that we … feel like our network can't handle, offering considerably better transit service and experiences for our customers.' Gabriel said BNSF's network is performing at its best level since 2020, when volumes were depressed across the supply chain by the pandemic. While there are no pressure points on the network 'we do suspect that there could be some pull-forward of fourth-quarter demand to beat that August 12 [tariff pause] deadline.'Gabriel said BNSF's prior investments have helped it manage through the vagaries of the Trump administration's changing trade policy. The railroad in the past several years added 100 miles of new main track on its transcontinental route between Los Angeles and Chicago, for double-, triple- or quadruple-track configurations, to accommodate denser traffic when necessary. BNSF has also added more than 8,000 parking spaces at intermodal ramps across its network, the equivalent of one entire Alliance Intermodal Facility in Fort Worth, Texas, largest on the railroad. 'That's surge capacity for our network, and at the same time, we've added more production tracks so we can lift-on lift-off more traffic simultaneously,' Gabriel said. 'We haven't had a quote-unquote 'normal period' going back several years in the supply chain. If we recognize that's kind of a new state of life that we're in, hence, we've made all these resiliency, and I would say, recoverability, investments.' As for Chicago, the mid-American choke point for rail freight, Gabriel said BNSF has the most rail capacity of any Class I, operating a total of four facilities. Three are domestic intermodal, while the fourth is a major international rail terminal, outside Joliet, Illinois. BNSF has added on- and off-site parking throughout, and a three-year expansion project at Cicero, Illinois. has increased capacity by 30%. Manufacturing is starting to flex up in China even as companies look to diversify supply chains throughout the region rather than to North America. 'I think you saw a large movement of that during the Trump 1 tariffs in 2018,' said Gabriel. ''China Plus One' didn't necessarily mean China onshore to nearshore; there's certainly some of that, but really it was China to somewhere else in Southeast Asia, which bodes well to the West Coast and in our networks.' As for cross-border traffic with Mexico outside of automotive, Gabriel said, 'I wouldn't say that we've seen meaningful movement in nearshore activity, from a manufacturing standpoint. What we've really seen is modal conversion, and that's all we're targeting, just like we are stateside of highway traffic that's going cross-border.' Gabriel said BNSF isn't seeing much warehousing on the rails as was typical post-pandemic in 2021. 'Dwell has stayed really, really low, historically low levels. We haven't seen a lot of rolling storage on our network; the product has continued to leave our rail ramps in a relatively normal flow. Less than 12 hours for our truckload segment, 24 to 30 hours for international, somewhere in that two- to three-day morning [delivery].' That reflects well on supply chain partners, as well as the railroad. 'That tells you, if the supply chain is relatively intact and moving, there's deep, relatively good balance,' Gabriel said. 'Chassis drayage, drivers, warehouse capacity, all those elements, those underpinnings seem like they're holding up and more positioned to move traffic here throughout the next several months.' Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your inbox. Find more articles by Stuart Chirls joins railcar builder Greenbrier as chief commercial officer Norfolk Southern expands short line interchange improvement program Rail agenda steams up as short lines blitz Congress Coal extends surprising lead in weekly US rail traffic The post This railroad has 100 extra locomotives ready to handle a container surge appeared first on FreightWaves.
Scoop
6 days ago
- Business
- Scoop
New Zealanders Have Rising Concerns About Insurance Costs As Financial Pressures Mount
New insights reveal insurance is a growing financial burden for New Zealand households, as trust in the industry dips and climate pressures loom. Insurance has jumped to the fourth most significant financial pressure for households, behind housing, food … New insights reveal insurance is a growing financial burden for New Zealand households, as trust in the industry dips and climate pressures loom. Insurance has jumped to the fourth most significant financial pressure for households, behind housing, food and household debt, marking a notable rise from sixth place in October 2024. This shift reflects a growing sense of strain as premiums continue to climb across house, contents, car and health insurance. At the same time, trust in the insurance industry is falling, based on results of the latest Consumer NZ Sentiment Tracker survey of more than 1,000 New Zealanders. 'Insurance is meant to provide a safety net, but for many people, it's becoming increasingly difficult to access. When you add the complexity of policies and the lack of transparency, it's easy to understand why trust in the industry is falling,' says Rebecca Styles, Consumer investigations team leader. Insurance affordability now in focus Consumer's upcoming report on house and contents insurance will delve deeper into these issues, exploring how rising premiums are affecting consumers' ability to access appropriate cover. With the effects of climate change increasing risk and, in turn, premiums, more New Zealanders are feeling financially exposed. 'We're hearing more and more from consumers who feel they're being priced out of essential cover,' Styles says. Interestingly, this comes as climate change concerns are cooling. Fewer New Zealanders now rank climate change as one of the top three most pressing issues — now at 12% (down from 15% in January and 17% a year ago), as more immediate pressures take priority. Cost of living still top concern The cost of living remains the number one issue for New Zealanders, with 65% of respondents identifying it as their top concern – a new high. Financial pressures across housing, food, debt and now insurance continue to weigh heavily. Trust in the insurance sector drops As premiums rise, trust in the insurance sector has taken a hit. More people now say they distrust insurers than trust them – a reversal from previous sentiment tracking and part of a broader decline in trust across sectors such as healthcare and energy. Consumer warns that the decline in trust signals a need for the insurance industry to do more to demonstrate value, transparency and fairness in its offerings. Climate risks compound affordability issues With climate change increasing the frequency and severity of weather events, insurance affordability is a growing concern. Many New Zealanders living in high-risk areas are already facing pricier premiums or are being denied insurance altogether. 'Our upcoming report will highlight how the affordability of house and contents insurance impacts resilience in Aotearoa,' Styles says. Note The Consumer NZ Sentiment Tracker is a quarterly nationally representative survey of 1,000 New Zealanders. It provides a snapshot of public opinion on key consumer issues, including financial wellbeing, trust in institutions and sector-specific sentiment. The winter issue of Consumer magazine has a focus on insurance and will be on newsstands Monday 9 June 2025. The Consumer website includes insurance buying guides for c ar, house and contents and travel.
Scoop
6 days ago
- Business
- Scoop
New Zealanders Have Rising Concerns About Insurance Costs As Financial Pressures Mount
Press Release – Consumer NZ New insights reveal insurance is a growing financial burden for New Zealand households, as trust in the industry dips and climate pressures loom. Insurance has jumped to the fourth most significant financial pressure for households, behind housing, food … New insights reveal insurance is a growing financial burden for New Zealand households, as trust in the industry dips and climate pressures loom. Insurance has jumped to the fourth most significant financial pressure for households, behind housing, food and household debt, marking a notable rise from sixth place in October 2024. This shift reflects a growing sense of strain as premiums continue to climb across house, contents, car and health insurance. At the same time, trust in the insurance industry is falling, based on results of the latest Consumer NZ Sentiment Tracker survey of more than 1,000 New Zealanders. 'Insurance is meant to provide a safety net, but for many people, it's becoming increasingly difficult to access. When you add the complexity of policies and the lack of transparency, it's easy to understand why trust in the industry is falling,' says Rebecca Styles, Consumer investigations team leader. Insurance affordability now in focus Consumer's upcoming report on house and contents insurance will delve deeper into these issues, exploring how rising premiums are affecting consumers' ability to access appropriate cover. With the effects of climate change increasing risk and, in turn, premiums, more New Zealanders are feeling financially exposed. 'We're hearing more and more from consumers who feel they're being priced out of essential cover,' Styles says. Interestingly, this comes as climate change concerns are cooling. Fewer New Zealanders now rank climate change as one of the top three most pressing issues — now at 12% (down from 15% in January and 17% a year ago), as more immediate pressures take priority. Cost of living still top concern The cost of living remains the number one issue for New Zealanders, with 65% of respondents identifying it as their top concern – a new high. Financial pressures across housing, food, debt and now insurance continue to weigh heavily. Trust in the insurance sector drops As premiums rise, trust in the insurance sector has taken a hit. More people now say they distrust insurers than trust them – a reversal from previous sentiment tracking and part of a broader decline in trust across sectors such as healthcare and energy. Consumer warns that the decline in trust signals a need for the insurance industry to do more to demonstrate value, transparency and fairness in its offerings. Climate risks compound affordability issues With climate change increasing the frequency and severity of weather events, insurance affordability is a growing concern. Many New Zealanders living in high-risk areas are already facing pricier premiums or are being denied insurance altogether. 'Our upcoming report will highlight how the affordability of house and contents insurance impacts resilience in Aotearoa,' Styles says. Note The Consumer NZ Sentiment Tracker is a quarterly nationally representative survey of 1,000 New Zealanders. It provides a snapshot of public opinion on key consumer issues, including financial wellbeing, trust in institutions and sector-specific sentiment. The winter issue of Consumer magazine has a focus on insurance and will be on newsstands Monday 9 June 2025. The Consumer website includes insurance buying guides for c ar, house and contents and travel.
Scoop
6 days ago
- Business
- Scoop
New Zealanders Have Rising Concerns About Insurance Costs As Financial Pressures Mount
New insights reveal insurance is a growing financial burden for New Zealand households, as trust in the industry dips and climate pressures loom. Insurance has jumped to the fourth most significant financial pressure for households, behind housing, food and household debt, marking a notable rise from sixth place in October 2024. This shift reflects a growing sense of strain as premiums continue to climb across house, contents, car and health insurance. At the same time, trust in the insurance industry is falling, based on results of the latest Consumer NZ Sentiment Tracker survey of more than 1,000 New Zealanders. 'Insurance is meant to provide a safety net, but for many people, it's becoming increasingly difficult to access. When you add the complexity of policies and the lack of transparency, it's easy to understand why trust in the industry is falling,' says Rebecca Styles, Consumer investigations team leader. Insurance affordability now in focus Consumer's upcoming report on house and contents insurance will delve deeper into these issues, exploring how rising premiums are affecting consumers' ability to access appropriate cover. With the effects of climate change increasing risk and, in turn, premiums, more New Zealanders are feeling financially exposed. 'We're hearing more and more from consumers who feel they're being priced out of essential cover,' Styles says. Interestingly, this comes as climate change concerns are cooling. Fewer New Zealanders now rank climate change as one of the top three most pressing issues — now at 12% (down from 15% in January and 17% a year ago), as more immediate pressures take priority. Cost of living still top concern The cost of living remains the number one issue for New Zealanders, with 65% of respondents identifying it as their top concern – a new high. Financial pressures across housing, food, debt and now insurance continue to weigh heavily. Trust in the insurance sector drops As premiums rise, trust in the insurance sector has taken a hit. More people now say they distrust insurers than trust them – a reversal from previous sentiment tracking and part of a broader decline in trust across sectors such as healthcare and energy. Consumer warns that the decline in trust signals a need for the insurance industry to do more to demonstrate value, transparency and fairness in its offerings. Climate risks compound affordability issues With climate change increasing the frequency and severity of weather events, insurance affordability is a growing concern. Many New Zealanders living in high-risk areas are already facing pricier premiums or are being denied insurance altogether. 'Our upcoming report will highlight how the affordability of house and contents insurance impacts resilience in Aotearoa,' Styles says. Note The Consumer NZ Sentiment Tracker is a quarterly nationally representative survey of 1,000 New Zealanders. It provides a snapshot of public opinion on key consumer issues, including financial wellbeing, trust in institutions and sector-specific sentiment. The winter issue of Consumer magazine has a focus on insurance and will be on newsstands Monday 9 June 2025. The Consumer website includes insurance buying guides for car, house and contents and travel.
National Post
21-05-2025
- Health
- National Post
Bausch + Lomb Launches New LUMIFY® Preservative Free Redness Reliever Eye Drops in the United States
Article content VAUGHAN, Ontario — Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced the U.S. launch of LUMIFY Preservative Free redness reliever eye drops, the first and only preservative-free over-the-counter eye drops with low-dose brimonidine tartrate 0.025% that relieve redness of the eye due to minor eye irritations. Article content Article content 'Consumers often say how amazed they are at the difference our original LUMIFY makes to their eyes, with over 50,000 five-star reviews as proof,' said John Ferris, president, Consumer, Bausch + Lomb. 'LUMIFY Preservative Free brings that same fast-acting formula to those with sensitive eyes — delivering a visibly brighter, whiter look in just 60 seconds.' Article content Before LUMIFY eye drops were introduced in 2018, redness relievers relied on the same ingredients for decades, which had well known side effects. LUMIFY and LUMIFY Preservative Free are the only over-the-counter redness relievers that selectively target eye redness and offer excellent results with a lower risk of rebound redness and loss of efficacy when used as directed. Article content 'LUMIFY delivers consistently proven results for patients experiencing eye redness,' said Melissa Toyos, MD, and partner, Toyos Clinic, Nashville, TN. 'With LUMIFY Preservative Free, my patients with eye sensitivities now have an option that's just as effective as the original LUMIFY redness reliever eye drops.' Article content LUMIFY Preservative Free is now available in convenient single-use vials at most U.S. retailers nationwide, including Walmart, Target, CVS, Walgreens, Rite Aid and Amazon. The eye drops will have a manufacturer's suggested retail price of $26.99 and feature updated premium packaging consistent with LUMIFY. Article content About the LUMIFY Brand The LUMIFY brand began in 2018 with the U.S. launch of LUMIFY redness reliever eye drops. They are the No. 1 eye doctor recommended redness reliever eye drop brand with approximately 90% of doctor recommendations 1 and have grown double digits every year since launching. In 2023, Bausch + Lomb introduced LUMIFY EYE ILLUMINATIONS™, a line of specialty eye care products specifically developed for the sensitive area around the eyes. The FDA approved LUMIFY Preservative Free eye drops in April 2024. For more information on the LUMIFY brand, visit Article content About Bausch + Lomb Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from birth through every phase of life. Its comprehensive portfolio of approximately 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,500 employees and a presence in approximately 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario, with corporate offices in Bridgewater, New Jersey. For more information, visit and connect with us on Facebook, Instagram, LinkedIn, X and YouTube. Article content Article content Article content Article content Article content Contacts Article content Article content Article content
