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TRUCKING INDUSTRY * Canada & USA
* Canada - Faces a host of heavy challenges - Atlantic Provinces Trucking Association hit by mergers, driver shortage, decrease of cargo, high cost of fuel and soaring loonie
Dieppe,NB,Canadá -The NB Business Journal, by REBECCA PENTY -February 19, 2010: -- The trucking industry is poised to see more consolidations in Atlantic Canada as firms grapple with further cost cutting, according to the chairman of the regional lobby group... Late last month, Rexton-based Warren Transport said it would be merging general freight operations and equipment repair facilities with the entire operations of D.D. Transport Ltd. of Mount Pearl, N.L. to form Atlantica Diversified Transportation Systems, effective April... The same week, employees at the Fredericton head office of Sunbury Transport - an Irving Transportation Services company - were told Sunbury Transport's operations would be merged with sister company RST Transport in Saint John by the summer... Shane Esson of the Atlantic Provinces Trucking Association, said the trend toward consolidation - and closure among less competitive firms - is the same across North America... (Picture by Cindy Wilson/Telegraph-Journal - A driver shortage began plaguing trucking firms years ago)* USA - Trucking failures to accelerate this year
New York,NY,USA -Reuters/Money Control (India) -Feb 19, 2010: -- Bankruptcies in the US trucking industry are expected to escalate this year as higher fuel prices and excess capacity squeeze margins further and lenders start to tighten their noose on the sector... The highly fragmented freight market in the United States has been in recession for about three years now. Excess capacity has put pressure on pricing and dented margins at truckers as well as freight brokers... But the sector has not seen as many insolvencies as expected in the last two years, as lenders wait for the market to improve for the used trucks they hold as collateral... Industry analysts say a spike in bankruptcies might not be a bad thing after all for the sector -- it will take away hundreds of underperforming companies, suck out the excess capacity and finally narrow the gap between supply and demand... Trucking failures are not the only way for excess capacity to leave the market. Some analysts believe mergers and acquisitions could start to see an upside as distressed deals happen and the larger players prepare for a recovery in 2011... Labels: trucking industry news CAN
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