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Truckload Rates * USA - Brokers Say: Rising Fast
Price hikes of 10 percent or more seen as freight demand rises
Chicago,ILL,USA -The Journal of Commerce Online, by William B. Cassidy -Jun 4, 2010: -- Truckload rates are spiking 10 percent and higher as rising freight demand collides with deep cuts in capacity, according to freight brokers... Freight brokers report that shortages in truckload equipment availability in certain markets and lanes are driving up truck rates in some areas faster than expected... Truckload rates in some lanes are up as much as 20 percent, he said, as demand in April and May shot higher than available trailer space... The strength of the truckload freight recovery is evident at CRST International, which is accelerating growth plans to catch up with revenue rising faster than its projections... The carrier said last month it will spend $100 million in the next 18 months to add 700 tractors and 1,500 trailers at three of its operating subsidiaries... But many smaller truckload carriers may be slow to add capacity, partly out of concern for the strength of the recovery and because of a lack of available financing... (Photo from inboundlogistics)
* President Obama Touts Recovery in Truck Facility Tour. Commercial rig dealership sees business improving, president says
Washington, D.C.,USA -The Journal of Commerce Online, by John D. Boyd -Jun 4, 2010: -- President Obama used a visit to a commercial truck dealership outside Washington, D.C., Friday to highlight how the economic recovery has spurred hiring in equipment suppliers to the freight sector... Obama and Vice President Biden on June 5 toured the K. Neal International site in Hyattsville, Md., which sells heavy-duty, medium-duty and severe service trucks... In remarks to employees of the dealership, Obama said owner Stephen Neal “told me that rental and lease sales have improved, that there’s pent-up demand out there for new equipment and you’ve added workers over the last few months. And Stephen said if things keep on going well, he’ll add more in the months ahead”... Also attending the event was Daniel Ustian, president and CEO of truck builder Navistar... Obama said Navistar recently delivered the first electric-powered delivery truck made at its Indiana plant, and aided by funding from last year’s American Recovery and Reinvestment Act...
* Truckload Demand Strong But Slowing
New York,NY,UK -The Journal of Commerce Online, by William B. Cassidy -May 28, 2010: -- Morgan Stanley index shows demand levels slipping, capacity stabilizing... The pace of recovery is slowing for truckload carriers, as truck capacity stabilizes at a lower level, according to the May 28 Morgan Stanley Truckload Freight Index... The daily TL index rose 5.2 percent this week to 4.42 on May 28, up 21.9 percent from a year ago and 14.5 percent from April 30. The index rose 29.4 percent in April from March and 28.2 percent from February through the end of March... That's helping to keep a lid on truckload rates, with carriers reporting "fairly limited" gains, the analysts said... Truckload capacity is stabilizing after tightening considerably, they said in the index report. That may reflect a reduction in carrier bankruptcies as freight volume rises, boosting finances, and the return of some idled trucks to service, they said... The analysts are looking to the peak season. If demand remains strong or picks up, that could leave shippers struggling to find capacity, they said...
Labels: freight rates, trucking industry news USA
posted by Unknown @ 6:10 AM
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