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TRUCKING INDUSTRY * USA - Truckload Demand Seen Stable, Improving
Morgan Stanley index shows rise in flatbed, reefer demand
New York,NY,USA -The Journal of Commerce Online, by William B. Cassidy -Feb 8, 2010: -- Truckload demand climbed in the first week of February, with flatbed and refrigerated trucking showing the most strength, Morgan Stanley Research reports... The investment research firm’s Truckload Freight Index, a measure of truckload demand and supply, rose to 2.31 Feb. 5, its highest level since October 2008... Demand for flatbed trucking hit 10.83 on the index Feb. 5, compared with 6.44 Jan. 1 and 0.83 a year ago. The flatbed business has been hit hard by construction failures... Demand was strongest in the Northeast and West, Morgan Stanley said... (Image from dremag)
* UPS Plans Pilot Furloughs - Alternatives possible, but first round of layoffs set for May
Sandy Springs,GA,USA -The Journal of Commerce Online, by Thomas L. Gallagher -Feb 8, 2010: -- UPS will begin in May to furlough 300 or more of its airline pilots to cut operating costs during what the company expects to be a gradual recovery... In an announcement Monday, the world’s largest package delivery company said it is involved in talks with the pilots’ union to find ways to avert or mitigate the layoffs before they take effect. UPS employs about 2,800 pilots, represented by the Independent Pilots Association... Over the past two years, UPS has cut $1.4 billion in costs through such moves as a freeze on management salaries in 2009, suspension of the match for 401(k) plans, trimming capital expenditures and retiring older aircraft... (Photo from wikipedia.org: UPS truck)
* UPS Sees Earnings ‘Slightly Better’ Than a Year Ago
Sandy Springs,GA,USA -Bloomberg, by Mary Jane Credeur and Mary Schlangensteing -Feb. 2, 2010: -- United Parcel Service Inc. said profit this quarter will be “slightly better” than a year ago, signaling that the world’s largest package-delivery company expects a recovery to build through 2010... UPS also said today that its annual per-share earnings will be $2.70 to $3.05. Analysts expected an adjusted profit of $2.81, based on the average of 21 estimates Bloomberg compiled... Economists consider Atlanta-based UPS a bellwether for economic health because it moves goods ranging from auto parts to drugs and electronics. International demand has recovered faster than in the U.S., led by increasing shipments in Asia...* Schneider to Hire 2,100 Regional Drivers - Strong shipper demand speeds Schneider's shift from long-haul to short-haul
Green Bay,WIS,USA -The Journal of Commerce Online, by William B. Cassidy -Feb 9, 2010: -- Schneider National will expand its pool of regional truckload drivers more than 600 percent this year, hiring an additional 2,100 drivers to fuel its short-haul business... It's a significant acceleration of Schneider's trucking plans for its new regional unit, which expanded rapidly since it was launched in 2008 in the Southwest... Schneider, a founding member of the long-haul, one-way truckload industry, wants to log 50 percent of its truck miles on short-haul runs of less than 500 miles... It expanded Schneider Regional into the Midwest and Southeast last fall, and into the Northeast starting in December, serving a total of 45 states with 400 drivers... Strong demand is building a denser freight base in all of Schneider's regions, propelling expansion at a faster pace, said Vice President Mike Hinz... * TWIC approaches 1.5 million cards, doubling estimates amid growing ID needs
Washington,DC,USA -Land Line Magazine, by Charlie Morasch -February 8, 2010: -- The Transportation Worker Identification Credential is fast approaching the printing of its 1.5 millionth biometric security ID card – already twice what federal officials expected originally... What’s more – the trend for expanded identification and security among many types of shipping facilities means that number should continue to grow... As of Wednesday, Feb. 3, the Transportation Security Administration had printed 1,497,331 cards. TSA’s early estimates for the program included about 750,000 enrollees in the program... Michael Goldstein was one of TWIC’s earliest enrollees when he got his card in 2008... Goldstein, a fuel-hauler in Los Angeles, said several tanker yards he works at require TWIC. Goldstein said he prefers showing his TWIC card at facilities as opposed to handing over his driver’s license at gates... (Photo from piersystem)
* West Virginia panel advances stricter truck rules
Charleston,W.Virginia,USA -Land Line Magazine -February 10, 2010: ... The Senate Transportation and Infrastructure Committee voted to advance a bill that would make changes to West Virginia law concerning commercial driver’s licenses in order to comply with Federal Motor Carrier Safety Regulations... Among the changes in the bill are measures to beef up out-of-service violations. Fines for drivers found violating OOS orders would increase from $1,100 to $2,500. Subsequent offenses would result in $5,000 fines... Motor carriers would also face greater punishment. Employers convicted of knowingly allowing, requiring, permitting or authorizing a driver in OOS status to get behind the wheel would face fines between $2,750 and $25,000. Currently, the maximum fine is $10,000... Another provision in the bill would modify the length of a driver’s suspension for violating an OOS order... Similar efforts are under way in statehouses around the country...
* Kansas - YRC Worldwide Clears Major Debt Hurdle. Investors agree to buy $70 million in trucking giant’s unsecured bonds
Overland Park,KS,USA -The Journal of Commerce Online, by William Cassidy -Feb 11, 2010: -- YRC Worldwide cleared a financial hurdle Thursday by eliminating $70 million in debt not included in its $464 million debt-for-equity swap in December, giving the carrier still greater stability in the less-than-truckload market... The trucking and logistics giant signed an agreement with investors to exchange the $70 million in unsecured notes for new unsecured convertible four-year notes, with a 6 percent interest rate payable in company stock...
* California - DHE Buys Matheson Fast Freight
Los Angeles,CAL,USA -The Journal of Commerce Online, by William B. Cassidy -Feb 11, 2010: -- Merger builds stronger West Coast LTL carrier; More growth ahead, DHE says... Logistics and trucking business The Dependable Companies acquired West Coast trucking company Matheson Fast Freight, expanding its stake in the California less-than-truckload market. Matheson Fast Freight, which operates throughout California and Nevada, will be added to Dependable Highway Express, the trucking arm of The Dependable Companies. Terms of the deal were not disclosed...
Labels: trucking industry news USA
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