Economy

Time is the key to profitability

MISSISSAUGA, ON - Maximizing profitability in an industry where margins can be thin comes down to just one thing: time. Panelists at the Surface Transportation Summit had differing views about where fleets could make the best use of their time to convert it into dollars and cents, but both agreed that the old adage is true: time is money. "Time in trucking is a perishable commodity," said Brian Abel, a freight network engineer for KSM Transport Advisors. Abel and fellow panelist Mike Buck, president of MCB Management Consulting, spoke about different ways fleets could save time by being proactive and rooting out waste. Buck presented ways fleets could capitalize on being proactive about maintenance, creating a schedule that would mean less downtime, would control costs, and would maximize the efficiency of equipment.

Markets will continue to see gains: FTR

COLUMBUS, OH – Trucking analysts at FTR say the truck market is going through a time of significant change. While hurricanes Harvey and Irma affected spot markets in September, helping…

September truckload demand at an all-time high

PORTLAND, OR - The DAT North American Freight Index is reporting a soaring demand for truckload capacity last month. Spot fright demand was at an all-time high in September, with a 74% gain over the same month in 2016. The increase was the largest seen since 2010.

Trump stumps to truckers on taxes

HARRISBURG, PA - The American Trucking Associations (ATA) was on-hand in Pennsylvania this week to support President Trump in calling on the United States congress to ease the corporate tax burden on the trucking industry. ATA president and CEO Chris Spear said the group supports the President's plan to reform the U.S. tax code and hopefully have it passed into law by the end of 2017.

Trucking will need to take a holistic approach: analysts

MISSISSAUUGA, ON – When adding new and emerging technologies to their businesses, fleet should look at their impact on the whole ecosystem of the trucking industry, analysts say. Speaking to…

Freight volumes, rates to rise in ’18: Analysts

MISSISSAUGA, ON - The coming year appears to hold the promise of a growing economy, tighter capacity, and ultimately higher rates for those who haul freight. "When you have the economy doing reasonably well, transportation tends to be generally picking up," said Carlos Gomes, senior economist - Scotiabank, in a presentation during the Surface Transportation Summit in Mississauga, Ontario. He projects economic growth of about 2% in 2018, compared to the 3% seen in 2017. "The Canadian economy recently has been very strong," agreed Walter Spracklin, equity research analyst - transportation sector at RBC Capital Markets. But where railways have enjoyed higher volumes against the backdrop of recent growth, trucks didn't fare quite as well. Railway volumes surged in part because of the demand for fracking sand, feeding into the 6.5% boost in overall freight that moved over iron highways, he said. Intermodal freight volumes are growing as well, although grain volumes are likely to drop when compared to the strong crops of 2016. Of the Canadian railways, CN is seeing capacity tighten, leading to congestion challenges and a projected boost in capital spending.

Green rebates should include older vehicles: OTA

TORONTO, ON - The Ontario Trucking Association (OTA) is weighing in on the Ontario Ministry of Transportation's (MTO) draft Green Commercial Vehicle Program (GCVP). The government announced it was seeking feedback on the proposal in September, with commenting closed as of Oct. 6.

Celadon names new independent board member

INDIANAPOLIS, IN – Amid a financial restructuring and an investigation by the U.S. Securities and Exchange Commission (SEC), Celadon Group has announced the appointment of a new independent director…

Celadon refinancing amid SEC investigation

INDIANAPOLIS, IL - The Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission (SEC). The company, which owns Celadon Trucking and Celadon Logistics, as well as other subsidiaries, announced this morning that as part of the continuing implementation of its new strategic plan, it has refinanced its revolving credit and extended equipment leases that were maturing in 2018. Celadon's short-term revolving credit restructuring was done through Bank of America, and has a maturity date at the end of fiscal 2017. In addition it received US $22.6 million in equipment term loans secured by existing tractors and trailers used in their Hyndman subsidiary.

Ryder to partner with Aperia on tires

ATLANTA, GA - Aperia Technologies has logged more than a billion miles on its flagship Halo Inflation System, and will now bring the product to Ryder's fleet of commercial rental vehicles.

Kriska acquires Service Freight Systems

PRESCOTT, ON - Kriska Transportation Group (KTG) has acquired Burlington, Ontario-based Service Freight Systems (SFS), which will continue to be led by general manager Rob Ten Brinke. Service Freight Systems, a logistics company founded in 1995, specializes in temperature-controlled, cross-border, truckload freight. Kriska Group has 600 tractors, 1,700 trailers, and employs 850 people including owner-operators. Its brands include Kriska Holdings, Mill Creek Motor Freight, JMF Transport (1992), and Transpro Freight Systems. "The KTG family of companies, with its asset-based core, complements well with SFS. They will add depth to our growing investment in logistics services," said Mark Seymour, Kriska's president and Chief Executive Officer, in a related press release.

Fleet Complete and Blackberry integrate products

Customers of Blackberry and Fleet Complete will now have the ability to remotely monitor their trucks from front to back, inside and out, on one interface. This morning the companies announced they were forming a reselling partnership, which will allow Fleet Complete to sell and bundle Blackberry's Radar with its other products, expanding its current fleet tracking and monitoring solutions.

Truckload turnover up in Q2

ARLINGTON, VA - The second quarter of 2017 saw the highest employment turnover at large truckload carriers since the last quarter of 2010. The American Trucking Associations (ATA) reports turnover was higher throughout the truckload market, amid tight labor conditions, with a 16-point jump over last year at large truckload carriers to 90%.

Centurion is Profit 500’s top transportation performer

SURREY, BC - Centurion Trucking is Canada's fastest growing and most dynamic company in the transportation and logistics industry, according to the 2017 Profit 500 list. The list, complied by MacLean's and Canadianbusiness.com, ranks the British Columbia based company, with just 59 employees, 13th overall, with a five-year growth of more than 4500%.

Celadon Group sells flatbed division to PS Logistics

INDIANAPOLIS, IN - The Celadon Group has sold all the assets in its flatbed trucking division to PS Logistics. The company announced the completion of the disposition of assets Sept. 18, as part of a strategic plan to concentrate resources on other business lines and boost returns. Assets included in the transaction were primarily leased and owned trailers, which were sold in exchange for an assumption or satisfaction of the lease obligations and cash, Celadon said. It is also entitled to post-closing goodwill payments.