Economy

Ritchie Bros. sells $85M in equipment at Edmonton auction

Ritchie Bros. auctioneers sold 7,600 pieces of equipment and trucks for a collective $85 million during a three-day auction in Edmonton. The event, which ran Oct. 26-28, attracted more than…

TFI soars to record revenues, despite challenges getting trucks and drivers

TFI International saw revenue and profits surge in a record third quarter, as it began to see benefits from its major acquisition of UPS Freight. Net income grew 60% to…

Acquisitions drive Mullen Group to record quarterly revenue

Mullen Group achieved its best ever quarterly revenue in the third quarter, bolstered by recent acquisitions. “Very pleased to report that we have achieved record revenues for the quarter, in…

Driver shortage remains industry’s top concern: ATRI

The driver shortage once again emerged as the trucking industry’s top concern, based on an annual compilation by the American Transportation Research Institute (ATRI). This is the fifth straight year…

XTL buys CBT, marking second acquisition of the year

XTL Group has purchased CBT, a Georgia-based hauler of refrigerated and frozen products. It marks the company’s second acquisition, both coming this year. CBT was founded in 1989 by Connie…

Trailer orders spike in September but OEMs remain cautious

Trailer orders more than doubled in September, to just more than 28,000 units, as some manufacturers began taking orders for 2022. ACT Research reported 28,127 units, up 126% from August…

Shippers see slight relief in August, but more challenges ahead

Conditions for U.S. shippers are gradually improving but remain challenging, according to the August FTR Shippers Conditions Index. The negative reading of -6.8 improved from July’s -8.1 levels, due to…

Record-setting September for Canada’s spot market

It was a record-setting September for load and truck volumes on Canada’s spot market, according to Loadlink Technologies. Outbound cross-border freight continued to be strong while domestic loads gained momentum…

Ritchie Bros. continues to see used truck prices increase

Older trucks are selling for more money at Ritchie Bros. auctions, the company reports, as owners hang onto equipment longer due to supply chain disruptions affecting new vehicles. “Transportation equipment…

Truck tonnage climbed in September as trucks packed on more freight

U.S. for-hire truck tonnage spiked 2.4% in September, marking the highest sequential gain of 2021, according to the American Trucking Associations (ATA). “It is good that tonnage rose in September,…

Mack grows market share while battling supply chain disruptions

In a market where demand is exceeding supply, Mack Trucks has still been able to pick up some market share in both Canada and the North American market as a…

Purolator expanding fleet to handle record volumes

Purolator is ramping up for what it expects to be a record holiday shipping season, hiring 2,400 new employees across Canada and increasing its fleet size by 15%. It also…

Higher rates lead to improved trucking conditions

While trucking capacity utilization and freight volumes softened in August, trucking conditions still improved thanks to higher rates, according to FTR’s Trucking Conditions Index (TCI). The 11.63 reading was well…

Trailer orders spike 130% as some OEMs begin taking ’22 orders

Trailer orders surged in September after some manufacturers opened up their 2022 order books, according to preliminary data from ACT Research. ACT reported net orders of 28,500 units in September,…

Canada short 18,000 truck drivers in second quarter

About 18,000 of Canada’s truck driving jobs were vacant in the second quarter of 2021, leaving 72% of surveyed employers to identify driver recruitment as a significant business challenge. The…