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TRUCKING INDUSTRY NEWS * USA
* Trucking Company Failures Rise
Dayton,OH,USA -Supply Chain Digest -17 May 2008: -- Rising Diesel Costs, Falling Demand Drive Sharp Rise in Trucking Firms Leaving Market; Capacity Issues Down the Road?... The trucking industry is always highly leveraged to the state of the economy. Every economic downturn sees a sharp rise in the number of truckers going out of business... In this period, the economic slowdown has been exacerbated for truckers by the incredible rise in diesel prices. Fuel surcharges have not really been able to keep many truckers "whole," and smaller truckers often have less leverage to extract fuel surcharge revenues commensurate with their costs... As a result, a large number of trucking companies with at least five vehicles in their fleets are going under... The chart below was presented by Mike Card, State Vice President for the ATA and also President of Combined Transport, a small trucking company in Oregon, during testimony before the U.S. House of Representatives Subcommittee on Highways and Transit about the impact of rising fuel on truckers and shippers and what can be done about it...
As can be seen from the chart, trucking failures are rapidly escalating, with more than 800 firms calling it quits in the first quarter alone, the highest number since the recession in 2001... While given the glut of capacity now in the market, this probably won't impact shippers much today, it certainly sets the stage for extremely tight capacity again when the economy revives...* Knight Transportation forms refrigerated division - Trucking firm adds 65 trucks, 80 trailers
Memphis,Tenn,USA- Bizjournals.com (Charlotte,NC)/Memphis Business Journal, by Trey Heath -May 16, 2008: -- Knight Transportation, Inc., has implemented a refrigerated delivery service in Memphis with the addition of 65 new trucks and 80 refrigerated trailers, an estimated investment of $11.3 million. The new service will add 60 new employees... The expansion adds to Knight's already substantial Memphis fleet of 174 dry trucks and 200 trailers... The Phoenix-based trucking company now operates almost 240 trucks and 280 trailers through its Olive Branch facility... (Photo: Bo Brigman and Stan Delikat with Knight Transportation, Inc.) * Asheboro trucking firm files for Chapter 11
Asheboro,NC,USA -The Business Journal of the Greater Triad Area -May 16, 2008: -- Triad Trucking LLC has filed for Chapter 11 bankruptcy... The May 6 filing in the Middle District of North Carolina in U.S. Bankruptcy Court states the company has estimated liabilities of $500,001 to $1 million and assets of under $50,000... Chapter 11 filings indicate the company intends to reorganize and emerge from bankruptcy...
* YRC installs kiosks to speed U.S.-Canadian border crossings
Buffalo,NY,USA -Land Line Magazine -May 15, 2008: -- In an attempt to speed up the process of getting its trucks across the U.S.-Canadian border, YRC Logistics has put up seven kiosks, or booths, at key border crossings... The locations are: The Peace Bridge in Buffalo, NY; Lewiston-Queenston Bridge in Niagara Falls; the Ambassador Bridge in Detroit; the Blue Water Bridge in Port Huron, MI; Champlain, NY; Pembina, ND; and Blaine, WA... Each kiosk has a telephone and scanner to connect the truck driver with YRC’s Buffalo, NY, logistics office... Workers in Buffalo can check the documents related to the type of goods being shipped to make sure everything’s in order and that the driver is ready to proceed through customs...Labels: trucking industry news USA
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