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TRUCKING INDUSTRY * USA & Canada
* USA - Trucking Spot Market Up 10 Percent in October... That could indicate an uneven road to recovery...
Portland,OR,USA -The Journal of Commerce Online, by William B. Cassidy -Nov 4, 2009: -- TransCore Freight Index jumps year-over-year, but dips from September... Freight volume in trucking’s spot market rose 10 percent in October, said TransCore, which reported the first year-over-year increase this year in the TransCore Freight Index... But the sudden rise reflects the depth of the collapse last fall more than an economy recovering strength... The TFI is based on 50 million spot market truckloads a year processed by TransCore’s DAT Network... The index, which uses August 1996 as its base, hit its low point this year in February, at 239. Its highest point in the past four years was June 2006, when it hit 1215... (Picture from lehighvalleylive: Hunterdon County source)
* Michigan - Con-way’s Third-Quarter Profit Declines
Ann Arbor,MI,USA -Transport Topics -4 Nov 2009: -- Con-way Inc. said its third-quarter profit fell by nearly two-thirds from a year ago, as freight demand declined... Its net income for the quarter was $13.5 million, or 27 cents per share, down from $38.8 million, or 81 cents, a year ago... Revenue dropped 17.3% to $1.13 billion, the carrier said in a statement late Tuesday...* Florida - Quality’s 3Q Profit Improves from a Year Ago
Tampa,FL,USA -Transport Topics -4 Nov 2009: -- Tank truck carrier Quality Distribution reported a second-quarter profit of $1.4 million, or 7 cents per share, up from $700,000, or 4 cents, a year ago... Total revenue fell to $162.8 million, from $214.7 a year ago. Transportation revenue excluding fuel surcharges fell to $120.4 million, from $144.8 million... (Photo from qualitydistribution: QC Truck in Railyard
* California - Pacer’s 3Q Profit Falls
Concord, CA,USA -Transport Topics -4 Nov 2009: -- Transportation and third-party logistics firm Pacer International said its third-quarter profit fell to $600,000, or 2 cents per share, compared with $20.8 million, or 59 cents, a year earlier... Income from operations fell $28.6 million to $700,000, from $29.3 million a year ago. Revenue fell $139.1 million to $418.7 million in the quarter ended Sept. 19, Pacer said late Wednesday... Pacer’s intermodal unit saw an operating income of $4.9 million, compared with $34.9 million last year. Volumes showed improvement from the second quarter of 2009, especially automotive volumes, but were still below the year-ago quarter... Logistics operations lost $200,000, compared with income of $1.7 million a year ago. The loss was primarily due to losses at its truck services unit, Pacer said... (Photo from hankstruckpictures, by Mike Boyd - Pacer stack train hauler volvo)
* USA - Wright Express Reports Lower 3Q Income
South Portland, ME,USA -Transport Topics -29 Oct 2009: -- Express Corp.’s third-quarter profit fell to $23.4 million, or 60 cents per share, compared with $72.3 million, or $1.82, a year ago... Operating income dipped to $50.3 million, from $54.1 million, the company said in a statement... Revenue fell to $85.9 million, from $107.7 million a year ago. Revenue from payment processing declined to $59.9 million, from $83.7 million... Wright Express provides payment processing and information management services to fleets and its charge cards are used by to buy fuel and maintenance services for about 4.6 million vehicles, the Associated Press reported...
* Canada - Bison develops online GHG calculator to demonstrate LCV efficiency
Winnipeg,MAN,CAN -Truck News -5 Oct 2009: -- Bison Transport has developed an online greenhouse gas emissions calculator so customers can measure the benefits of using long combination vehicles (LCVs)... Bison, one of the country’s biggest proponents of LCVs, estimates turnpike doubles reduce GHG emissions by as much as 40% compared to single trailer over-the-road operations... Bison’s own LCV fleet operates more than 15 million miles per year. The company says its GHG calculator is the latest component of its Sustainable Transportation Strategy, which also includes a speed reduction policy, idle reduction technologies and fuel-efficient components including trailer skirts... * Delaware - Court Approves Velocity Express Sale - Comvest acquires bankrupt carrier, plans growth
Palm Beach,FL,USA -The Journal of Commerce Online, by Thomas L. Gallagher -Nov 5, 2009: -- The United States Bankruptcy Court for the District of Delaware approved Nov. 3 the sale of time definite regional carrier Velocity Express to private investor Comvest Investment Partners... The Court approved the sale, which was announced in September, following a post-petition auction process and a global settlement by Velocity with its unsecured creditors. Under terms of the sale, ComVest will become the company’s new majority owner. The company’s balance sheet will be significantly deleveraged with the elimination of approximately $100 million in debt...
posted by Unknown @ 5:28 PM
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