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TRUCKING INDUSTRY NEWS * USA - Analyst predicts “freight pricing renaissance”
Are trucking rates at rock bottom? Freight buyers take note ...
Newton,MA,USA -Reuters/Purchasing, by Dave Hannon -13 June 2008: -- ... Analyst Jon Langenfeld of Robert W. Baird predicted a “freight pricing renaissance” next year and says the rash of bankruptcies caused by dramatic fuel price increases is already tightening up the truckload and LTL markets... Langenfeld this week followed up his previous remarks at the NASSTRAC conference with a note to clients that says, “When the domestic freight environment does rebound, the trucking industry is positioned to garner significant and sustained rate increases, given the meaningful exodus of capacity and inflationary cost environment”... Langenfeld says LTL pricing is firming and truckload rates are improving as more truckers disappear from the market... But Ed Wolfe of Wolfe Research, says the market is tightening, but pricing has not yet been impacted. “We continue to sense that TL and LTL pricing has bottomed but remains weak. We are monitoring closely whether modestly improved demand and gradually decreasing truck supply through consolidation will lead to real pricing gains or whether new tractor supply driven by the replacement and pre-buy cycles will offset it over the next 6-12 months,” Wolfe said in a note to clients...
* Old Dominion Freight and Con-way upgraded to outperform
Boston,MASS,USA -Thomson Financial/Trading Markets, by Greg Saulnier -Jun 13, 2008: -- Old Dominion Freight Line Inc. and Con-way Inc. were both upgraded Friday to outperform from neutral at Robert W. Baird, which said industry contacts have confirmed that near-term trends have stabilized... "All in, conditions do not necessarily reflect a rebound, but confirm that fundamentals (excluding fuel) are past the bottom," R.W. Baird said... The firm said its upgrade of Old Dominion and Con-way is based on less-than-truckload prices stabilizing, solid second-quarter demand trends emerging and a cyclical earnings recovery... * Roadrunner trucking broadens shipping services, focus
Milwaukee,WI,USA -The Milwaukee Journal Sentinel, by RICK ROMELL -June 14, 2008: -- Roadrunner Dawes Freight Systems Inc., a Cudahy-based firm that has grown into one of the country’s 50 largest trucking companies, has changed its name to Roadrunner Transportation Services Inc.... The new name comes as the company has broadened its services. Formerly a “less-than-truckload” hauler — a carrier that combines relatively small shipments from various customers in a single trailer — Roadrunner has branched into the truckload sector and third-party logistics... In March, Roadrunner added GTS, a $40-million-a-year Ohio logistics firm that manages shipping for its clients... 
Labels: trucking industry news USA
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