Economy

Covid-19 bailout funds give U.S. Treasury stake in YRC

OVERLAND PARK, Kan. — The less-than-truckload (LTL) YRC fleet will receive a US $700 million loan through Covid-19 relief funds, giving the U.S. Treasury a 29.6% stake in the company.

Feds invest to improve goods movement in B.C.

VANCOUVER, B.C. – The federal government has invested $28 million into three B.C. projects, which it says will reduce freight bottlenecks. Transport Minister Marc Garneau announced this week that: $17.5…

ECONOMIC WATCH: Shippers enjoyed most favorable conditions ever in April

BLOOMINGTON, Ind. – The FTR Shippers Conditions Index (SCI) soared to an unprecedented 41.3 reading in April, reflecting the best ever conditions for shippers. A positive reading is favorable for…

Purolator to add 1,100 jobs

TORONTO, Ont. – Purolator says it will add more than 1,100 new jobs as the Canadian economy recovers from the pandemic. One year ago, it announced its $1-billion-plus, five-year…

TFI picks up Comcar’s MCT Transportation

MONTREAL, Que. – TFI International has purchased the assets of MCT Transportation, a refrigerated and dry van subsidiary of Comcar Industries. TFI paid US$9.6 million for the assets, including accounts…

Covid-scrambled supply chains require more flexibility

TORRANCE, Calif. — After a record-setting 2018, when tight capacity led to rate increases, 2019 was back to a more normal year in freight and logistics. The industry was poised…

Trucking could recover from Covid-19 quicker than other sectors: ATA economist

ARLINGTON, Va. – For-hire truck tonnage continued to contract south of the border in May, but the American Trucking Associations’ chief economist believes trucking will still recover from Covid-19 more…

ECONOMIC WATCH: Trailer orders remain at historic lows

COLUMBUS, Ind. – May trailer orders improved from April, but were still the second weakest month ever, reported ACT Research in its State of the Industry: U.S. Trailer Report. Net…

ECONOMIC WATCH: Canadian spot market load volumes recovering

TORONTO, Ont. – TransCore Link Logistics has reported spot market load volumes increased 5% in May, but were still 42% off May 2019 volumes. (Source: TransCore Link Logistics) With the…

Ontario infrastructure projects get $42M

PETERBOROUGH COUNTY, Ont. — The federal and provincial governments have announced funding for 10 road and bridge projects in Central and Eastern Ontario. Ottawa is investing over $22 million…

ECONOMIC WATCH: ‘Signs of life’ in trailer market, FTR says

BLOOMINGTON, Ind. – Final net trailer orders for May totaled just 4,300 units, up 1,200% from “dismal” April activity but down 64% year-over-year with elevated cancelations, FTR reported. All segments…

Truck arrivals up 3% during second week of June

OTTAWA, Ont. – The number of truck drivers entering the country last week rose more than 3% from the previous week, but was still down 16% from the same period…

1/3 B.C. trucking companies are worried about business survival

LANGLEY, B.C. – Surveyed members of the British Columbia Trucking Association (BCTA) don’t expect to return to pre-Covid-19 business levels for 10-11 months, while motor coach companies among them expect…

Trucking HR survey: industry bracing for more layoffs

OTTAWA, Ont. – Covid-19 has taken a heavy toll on the Canadian trucking industry, and the future doesn’t look rosy either, according to a Trucking HR Canada employer survey…

Aevitas buys Fast Lane Freight Services

WINNIPEG, Man. – Fast Lane Freight Services has been acquired by Aevitas, an environmental services company with 10 locations in the U.S. and Canada. The deal closed June 1. Fast…