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TRUCKING INDUSTRY * USA & Canada
* USA - Trucking firm, union agree
Overland Park,Kansas,USA -The Chicago Tribune -July 10, 2009: -- Debt-laden trucking company YRC Worldwide Inc. and the Teamsters union said they have reached a tentative deal on concessions they say will address the company's immediate need for cash while protecting union jobs... But while an agreement with the Teamsters is a big step in the company's push to stave off bankruptcy, analysts say the company still needs changes to stay afloat... Neither side provided details. The Teamsters said specifics of the deal will be made available to union members next week, and will then go to a vote... In a note to clients, Stifel Nicolaus analyst, David Ross, said he believes if the company does make it to next year, it will most likely be through some form of bankruptcy restructuring. He said the company's operation is too expensive, while demand is declining... (Photo from thenews-gazette: "End Of The Road For Truck Terminal"
* Canada - Analyst upgrades Canadian trucking firms
Toronto,ONT,CAN -The Globe and Mail, by Steve Ladurantaye -Jul. 10, 2009: -- Canadian trucking companies received a rare upgrade Friday, on hopes that the early stages of an economic recovery will help transportation companies get rolling again... National Bank Financial analyst, Aaron Duxbury, said the industry still faces a rash of issues – particularly low volumes and weak pricing – that will weigh on second-quarter results, but even a tepid recovery will help the companies... Truck freight normally recovers ahead of the broader economy... He said the supply side is key – with fleet reductions, fewer new purchases and bankruptcies “improving truck market dynamics” in an industry he suggests has up to 15 per cent more capacity than necessary...* Canada / U.S. Trucking Sees Bad First-Half
ONT,CAN -The Journal of Commerce Online, by Courtney Tower -Jul 10, 2009: -- Cross-border trucking over the Ambassador Bridge connecting Detroit to Windsor, Ontario, the busiest commercial connection between the United States and Canada, fell by nearly a third in the first half of this year. At other key crossings, traffic was little better... There were 173,202 truck crossings either way between Detroit and Windsor, in June, a 32.7 percent decline from the 257,276 in June of last year, according to the Public Border Operators Association (PBOA). For the first half of this year, to June 30, there were 1.1 million truck crossings, a 31.1 percent drop from the 1.6 million in the 2008 period... These crossings are four of the six chief U.S.-Canada commercial crossings. The two others, between Douglas, British Columbia, and Blaine, Wash., and Champlain, N.Y., and Lacolle, Quebec, do not publish such statistics, but have experienced similar degrees of decline... (Picture from cannazine.co.uk: Ambassador Bridge, Detroit)
* USA - OOIDA urges truckers to call on NY truck ban
New York,NY,USA -Land Line Magazine, by Clarissa Kell-Holland -10 July 2009: -- A proposed rule from the New York State Department of Transportation, that would ban truckers from seven key routes in upstate New York, the Finger Lakes region, has made its way to the governor’s office for review... On Friday, July 10, OOIDA sent out a Call to Action to its New York members urging them to contact Gov. David Paterson about how this could prove disastrous for small-business truckers... OOIDA Legislative Affairs Director, Mike Joyce, said the timing of this “couldn’t come at a worse time” for truckers who are just trying to survive during these challenging economic times... The NYSDOT estimates its plan could cost truckers an additional $10 million per year in additional fuel, toll and operating costs if truckers are forced off these secondary roads and on to the New York State Thruway... (Image from nyrealestatelawblog: A ROUTE TO NOWHERE)
* USA - UCR enforcement blitz to begin in Michigan
MICH,USA -Land Line Magazine -July 10, 2009: -- The Michigan State Police Traffic Safety Division plans to launch a weeklong Unified Carrier Registration enforcement blitz beginning Sunday, July 12... The UCR Act of 2005 requires the registration of all interstate and international motor carriers – including brokers, freight forwarders and leasing companies. Failing to register is a misdemeanor punishable with a fine of up to $500 and/or 90 days in jail... The fees collected under the UCR program are used for commercial vehicle safety and enforcement programs... (Photo from fleetowner: truck inspection)
posted by Unknown @ 7:08 AM
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