Thursday, April 14, 2011
As various factors such as increasing diesel prices, tight capacity, and rate pressure continue to take hold in the freight transportation market, they appear to be taking a toll on shippers, according to the April edition of the Shippers’ Condition Index (SCI) released this week by freight transportation consultancy FTR Associates.
Trucking and intermodal services bellwether J.B. Hunt (JBH) kicked off the first quarter earnings season in style with record net earnings of $50.1 million or $0.40 per share compared to net earnings of $37.5 million and $.029 per share a year ago.
Although California exports continue to surge, the news is not all good, say economists. In the case of the latest figures, foreign buyers were banking on continued weakness in the U.S. dollar by snapping up a wide range of relatively inexpensive American products from soybeans to aircraft.
Posted on 04/14 at 08:12 AM
Wednesday, April 13, 2011
The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported today that its Freight Transportation Services Index (TSI) fell 1.5 percent in February, following 0.9 percent and 1.5 percent gains in January and December, respectively.
This increase marks the third time the PCI has been up in the last eight months and the 16th consecutive month it has been up on an annual basis.
With the price per gallon of diesel fuel now officially north of $4, there remains a distinct possibility that future retail sales could tail off or remain relatively flat in the coming months.
Pent-up demand based on various factors continue to point to an upcycle in buying activity for commercial vehicles, according to data from ACT Research, a provider of data and analysis for trucks and other commercial vehicles.
While U.S. federal government lawmakers continue to focus on the nation’s budgetary woes, The American Association of Port Authorities is convening a special meeting in San Francisco to examine financial challenges of its own.
Tuesday, April 12, 2011
California exporters recorded their 16th consecutive month of healthy year-over-year gains in February with shipments totaling $11.76 billion, a 13.4 percent increase over the same month last year
A 10.2 cent weekly hike brings the current price to $4.078 per gallon, following a 4.4 cent increase last week and a 2.5 cent gain the week before. Diesel prices have been up 18 of the last 19 weeks. And on an annual basis, the price per gallon for diesel is up $1.009 per gallon.