Filed in Trucking
Wednesday, May 18, 2011
The truckload spot market in April was down 14 percent from April but showed a 12 percent annual gain compared to April 2010, said TransCore officials. They added that freight volumes in the South and Midwest regions of the U.S. were impacted most by the weather.
Tuesday, May 17, 2011
First quarter intermodal loadings—3,292,291—were up 9.0 percent annually, as were the four major intermodal equipment categories tracked by IANA.
Freight movement needs a coordinated national freight strategic plan and dedicated source of funds in the next surface transportation bill, and major industry players need to be aggressive in selling that message to legislators obsessed with cutting federal transportation spending. That’s the word from the annual conference of Coalition for America’s Gateways and Trade Corridors, a ten-year-old Washington coalition of freight interests that includes shippers, builders, ports, intermodal interests, and other stakeholders.
During its first quarter earnings call, YRC stated the terms of its latest debt swap plan, and has engaged Morgan Stanley to arrange a new $400 million asset-based loan facility that CEO Bill Zollars says will “enhance our liquidity and strengthen our balance sheet.”
Monday, May 16, 2011
Despite data points that indicate the economy is firming, it may not always feel that way for shippers, especially these days. That was especially true with the recent release of the Shippers’ Condition Index (SCI) from FTR Associates.
With gas prices making everyone uncomfortable, again, those same old fears about energy prices are back in the forefront. But it does not have to be these way. In fact, it should not be this way—period. That is how T. Boone Pickens, founder and chairman of BP Capital Management, sees it.
Friday, May 13, 2011
On the heels on a 2.7 percent gain in March, following a cumulative 2.8 percent decline in January and February, the April edition of the Ceridian-UCLA Pulse of Commerce Index (PCI) was down 0.5 percent. The PCI has been down on a sequential basis in six of the last nine months, but it was up 3.5 percent compared to April 2010 and has been up annually for 17 consecutive months.
Friday, May 06, 2011
While the Cass data showed growth in February and March following three months of decreases, April was relatively flat on a sequential basis. April shipments at 1.113 were up 12.3 percent annually and 0.45 percent compared to March’s 1.108, with shipments above for the 1.0 mark for the 11th straight month going back to May 2010’s 1.014 breaking the 1.0 level for the first time since November 20008.
Earlier today, less-than-truckload (LTL) transportation services provider YRC Worldwide (YRCW) reported a $102 million net loss in the first quarter and a $2.14 loss per share. Despite the losses, company officials said this represented an improvement over the first quarter of 2011, which saw a net loss of $274 million and $13.15 per share.
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Thursday, May 05, 2011
First quarter earnings for Echo Global Logistics, a non-asset based freight brokerage company and a provider of technology-enabled transportation and supply chain management services, saw total revenue-at $129.4 million-increase by 45.3 percent compared to the first quarter of 2010.