Economy

ACT’s freight forecast: ‘Stronger for longer’

ACT Research is forecasting a peak freight season that will be stronger for longer than usual. “Freight markets remain tight as we head into a clearly historic peak season with…

Trailer orders bounce back due to “tremendous” pent-up demand

Trailer orders bounced back to 15,100 units in August, as some manufacturers opened up 2022 order boards, according to preliminary data from FTR. Orders surged 79% from July but remained…

ACT Research slashes production forecast as component shortages linger

ACT Research is slashing its production forecasts for this year and next, as truck makers cope with supply issues. “In the current period of [near] record demand for commercial vehicles…

Strong pricing at most recent Ritchie Bros. auction

Ritchie Bros. sold more than 8,100 pieces of equipment last week at an Edmonton-based auction. There were 15,200 online bidders from 62 countries registered at the company’s fourth Edmonton auction…

‘Red tag’ inventories grow as truck and trailer makers struggle to meet demand

“We’re in catch-up mode and we’re going to be in catch-up mode for a while.” That’s how Don Ake, vice-president – commercial vehicles for industry forecaster FTR characterizes the current…

Canada Cartage buys Rapid Delivery

Canada Cartage has purchased London, Ont.-based Rapid Delivery, expanding its service in Southwestern Ontario and the Northeastern U.S. Rapid Delivery has terminals in London and Windsor, and provides truckload, expedited,…

Truck orders surge as OEMs open 2022 order boards

Class 8 truck orders came in at 39,400 units in August, according to preliminary data from FTR, which was a 51% spike from July and up 91% year-over-year. FTR attributes…

No end in sight to strong trucking environment: FTR

The good times for truckers are expected to keep rolling well into next year. “From the perspective of carriers, things are quite good,” Avery Vise, vice-president – trucking for industry…

Truck driver shortage is ‘mythical’, OOIDA says

The Owner-Operator Independent Drivers Association (OOIDA) is taking aim at what it refers to as the “mythical” truck driver shortage in a letter to the secretary of the U.S. Department…

Trucks shipped $32.5B in Canada-U.S. freight this June

Trucks moved US$32.5 billion in freight across the Canada-U.S. border in June, representing 55.3% of all freight shipped between the countries, the U.S. Bureau of Transportation Statistics says. When totals…

Lack of capacity keeping lid on truck tonnage: ATA

U.S. for-hire truck tonnage slid 1.2% in July, according to the American Trucking Associations (ATA). This comes on the heels of a 2% pullback in June. “Softness in tonnage over…

Manitoulin Transport opens new Peterborough terminal

Manitoulin Transport has increased its capacity in the Peterborough area by more than 30% with the opening of a new terminal. The 10,088 sq.-ft. terminal features 10 dock doors and…

‘Recipe right for record rate increases’: ACT Research

ACT Research’s For-Hire Trucking Index in July showed an uptick in freight volumes with pricing moderate, but a strong supply-demand balance for truckers. “As volume growth reaccelerated, ACT’s For-Hire Pricing…

Canada’s spot market cools in July

Canadian spot market load volumes fell 11% in July, reflecting Canadian and U.S. holidays. Daily postings were down an average of 6% per day. However, Quebec bucked the trend with…

Titanium opens fourth U.S. freight brokerage office

Titanium continues to expand its brokerage in the U.S., adding a fourth location in Denver, Col. The company’s rapid expansion in the U.S. has taken place over the past 27…