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TRUCKING INDUSTRY NEWS * USA & Canada
* USA / Study: Rising diesel prices pressure trucking industry but could relieve it
Kansas,MO,USA -The Kansas City Business Journal -October 27, 2009: -- Although rising diesel prices weigh on the trucking industry, they could indirectly help some industry players by pushing weaker competitors out of business... Prices for on-highway diesel fuel have risen for three weeks in a row. The national average cost of diesel fuel was $2.80 a gallon on Monday, up 3.5 percent from $2.71 a gallon on Oct. 19, the Energy Information Administration said Monday... Longbow Research LLC analyst Lee Klaskow said in a Tuesday note that the higher diesel prices are a double-edged sword for trucking companies, which are burdened by overcapacity and sluggish demand... Overland Park-based trucking giant YRC Worldwide Inc. reports its third-quarter earnings on Friday. The debt-laden company has been laying off thousands of workers, selling property, cutting employee pay and benefits, and reworking lender agreements, among other steps, to combat persisting losses during an extended freight recession..(Photo: Waiting to Cross U.S. Borders in Trucks)
* Indiana/USA - Celadon’s 1Q Income Drops; Will Trade on NYSE Starting in November
Indianapolis,IN,USA -Transport Topics -28 Oct 2009: -- Truckload carrier Celadon Group said late Wednesday its fiscal first-quarter income declined from a year ago and that it will begin trading its shares on the New York Stock Exchange in November... Net income fell to $600,000, or 3 cents per share, from $2.8 million, or 13 cents, a year ago, Celadon said in a statement... Revenue fell 13% to $127.8 million for the quarter ended Sept. 30. Freight revenue excluding fuel surcharges gained 1.3% to $110.7 million...* Toronto/Canada - Vitran’s Third-Quarter Profit Drops
Toronto,ONT,CAN -Transport Topics -27 Oct 2009: -- Vitran Corp. said Tuesday its third-quarter income fell to $281,000, or 2 cents a share, compared with $2.1 million, or 15 cents, a year ago... Revenue for the quarter fell to $163.6 million, from $194.6 million last year, the company said in a statement. Vitran has truckload, less-than-truckload and logistics operations in the United States and Canada... Toronto-based Vitran said income from its LTL segment fell to $1.5 million from $3 million last year... Its truckload segment reported operating income of $175,000, down from $308,000 a year ago, while its logistics segment’s operating income rose to $1.7 million, from $1.5 million last year... (Photo from hankstruckpictures: Vitran's truck)
* Tennessee/USA - Covenant’s Third-Quarter Loss Widens
Chattanooga,Tenn,USA -Transport Topics -27 Oct 2009: -- Covenant Transportation Group reported a third-quarter net loss of $13.6 million, or 96 cents a share, compared with a loss of $3.4 million, or 24 cents, a year ago... Revenue fell 28%, to $153 million, the truckload carrier said late Monday. Freight revenue fell 18.2% to $133.3 million... The company is continuing to reduce costs and said its annual tractor fleet plan for 2009 includes the purchase of about 950 tractors and disposal of approximately 1,250 tractors, for expected full-year net capital expenditures of approximately $50 million to $60 million...* USA / EVENT - New Council to Reinvent Trucking, for Carting just as much Freight on half the Energy
Boulder,COL,USA -PRWeb -28 Oct 2009: -- Leaders of the Rocky Mountain Institute’s MOVE team announced that they are joining with trucking industry leaders to inaugurate the North American Council for Freight Efficiency (NACFE), with the goal of helping to reinvent the trucking industry to carry just as much freight on half as much energy... The new group will collect, assess, and circulate information on performance and efficiency benefits to technology developers, fleet owners, and truck drivers, said leaders of the transportation research and consulting team at the Rocky Mountain Institute (RMI), in Boulder, Col...
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