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Spot Freight Market Rebounds, Best in Three Months
TORONTO - A measure of the spot freight market closed out September on an up note, following two consecutive months of disappointing load volume. The TransCore Link Logistics Canadian Freight Index picked up modestly with load volume increasing 7 percent from the month before but was still down 25 percent compared the same time last year. This put the index at 210 for September, its best reading since June when it registered 263.
Audit Finds Vancouver Port Truckers Underpaid
VANCOUVER, BC - Truck drivers serving Port Metro Vancouver have been underpaid by container trucking companies as part of a settlement following a March 2014 strike at the port, according to an audit, while the union representing truckers is challenging a new truck licensing system at the facility. According to Office of the British Columbia Container Trucking Commissioner, six audits of fleets have been completed. It found they did not meet their obligations to pay their drivers rates retroactive to early April 2014, as required. The commissioner's office is currently evaluating what sanctions it will take against the six licensees.
Freight Shipping Costs Fall Less Than 1 Percent
TORONTO --New results published by the Canadian General Freight Index (CGFI) indicate that the total cost of ground transportation for Canadian shippers decreased by 0.6 percent in July from the month before, following increases the previous two months.
GM, Navistar Sign Medium-Duty Truck Agreement
DETROIT and LISLE, IL -- General Motors Co. (GM) and Navistar announced Wednesday they have reached a long-term agreement to develop and assemble future medium-duty, conventional cab Class 4/5 commercial vehicles. According to a news release, the alliance allows Navistar to strengthen its product lineup and GM to expand its Chevrolet commercial truck portfolio. The future products will be jointly developed using Navistar's expertise in rolling chassis configurations and manufacturing capabilities, and GM's commercial components and engines. The vehicles are slated for production in 2018. GM offered medium-duty trucks for decades before getting out of the business in 2009 in the midst of its bankruptcy reorganization and the recession. That decision followed the death of a deal for Navistar to buy GM's medium-duty business.
Diesel Prices Remain at Multi-Year Lows
LONDON, ON AND WASHINGTON, D.C. -- The trend of lower diesel prices continues in both Canada and the U.S. while gasoline has edged a bit higher here at home. The average cost of the distillate fuel fell $0.004 over the past week to $1.021 per liter, hitting its lowest level since September 2010, according to the latest figures from the petroleum information services provider The Kent Group.
Study: Operations Cost Increasing in Trucking
ARLINGTON, VA - A new study shows operational costs in trucking are on the rise again, at least south of the border. The American Transportation Research Institute on Tuesday released the findings of its 2015 update to An Analysis of the Operational Costs of Trucking.
Landmark Agreement Addresses ‘Right to Repair’ for Trucks
JACKSONVILLE, FL -- The aftermarket repair industry and truck and engine makers have reached an agreement on the sharing of heavy-duty vehicle service information, which will give truck owners more options for diagnosing and repairing today's heavily computerized commercial vehicles. The Commercial Vehicle Solutions Network and the Truck and Engine Manufacturers Association, together with the Equipment and Tool Institute, the Auto Care Association, and Heavy Duty Aftermarket Canada, have signed a Memorandum of Understanding addressing the availability of service information for model year 2010 and later trucks and buses over 10,000 pounds sold in the United States and Canada.
Truck-Lite Purchased, Penske Relinquishes Majority Interest
FALCONER, NY - Truck-Lite Co. has announced it is being purchased by an affiliate of Koch Equity Development LLC and BDT Capital Partners LLC and will partner with Penske Corp. The move will allow the commercial vehicle and filtration systems provider, owned by Penske and funds affiliated with the private investment firm Kelso & Company, to relinquish its majority control, while allowing Truck-Lite to expand with new products and services, according to a news release.
Omnitracs Unveils Rebranding Effort
DALLAS - The fleet management technology provider Omnitracs LLC says it is rolling out new branding to better unify its different business units under one name. What operated before as independent business units; Roadnet, XRS, Sylectus, and Analytics; are now fully integrated flagship products within Omnitracs' broad range of offerings including: compliance, safety and security, productivity, telematics and tracking, transportation management system (TMS), planning and delivery, data and analytics, and professional services.
Truck Wheels Maker Alcoa Splitting Into Two Companies
NEW YORK - A company known for its truck wheels, among other lighter weight metal products, plans to separate into two independent, publicly traded companies. The move by Alcoa Inc. will result in a yet to be named company, what it currently calls "the value-add company," that will include its transportation, rolled, engineered and construction products. The other will keep the Alcoa name and will include its bauxite-mining, alumina-refining and aluminum-production businesses. The transaction, expected to be completed in the second half of 2016, has been unanimously approved by the Alcoa board of directors. According to the Wall Street Journal, the move comes in the wake of depressed aluminum prices as China has flooded the market with lower metals prices, and the company seeing its stock price fall 43% this year.