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TRUCKING INDUSTRY * USA - YRC Takes 5.9 Percent General Rate Hike
* Kansas - Increase applies to non-contract freight at national U.S. trucking operation
Overland Park,KS,USA -The Journal of Commerce Online, by William B. Cassidy -Sep 23, 2010: -- Trucking giant YRC Worldwide raised its tariff rates at national carrier YRC by 5.9 percent Sept. 20, the company’s second general rate increase this year and a strong sign that truckers are anxious to raise pricing amid improving demand... The rate action by the largest U.S. trucking operator is expected to help other LTL trucking companies hauling low-priced freight bump up their own rates... FedEx Freight and Con-way Freight, two carriers that were at the forefront of price cuts in a bid last year to lure YRC customers away, still are struggling to recover from heavy discounting in 2009 that depressed earnings in recent quarters... YRC, along with many other carriers, raised base tariff rates in January... The GRI (general rate increase) only applies to YRC’s non-contract freight, typically a small portion of an LTL carrier’s business. Most LTL freight is shipped under contract rates negotiated with the shipper... The price hike may signal that LTL capacity is tightening to the point where carriers think they can make rate increases stick, which also could affect upcoming contract negotiations for 2011...* Kansas - Teamsters reach deal: Union members are expected to vote on the tentative agreement in early October
Overland Park,KS,USA -LDNews, by STEVE SNYDER -26 Sept 2010: -- YRC Worldwide Inc. announced Friday that it has reached a tentative agreement with the Teamsters union on pension and other issues... Contract details will be made available after required approval by Teamsters leadership committees and the YRCW board of directors, which are expected this week... Mike Smid, president and chief operations officer for YFCW, said in his firm's press release that the contract "is an important step toward the completion of our comprehensive recovery plan. As our business continues to improve, the implementation of this tentative agreement will allow us to continue to provide our customers with a comprehensive portfolio of services that is competitive and reliable" ... According to a press release from Teamsters for a Democratic Union, a reform group within the Teamsters union, the Teamsters' concessions were offered on the condition that Bill Zollars, chief executive officer of YRCW, be replaced... The new deal has the Teamsters offering concessions of about $350 million per year, the TDU release said...* Kansas - YRC’s William Zollars to Retire
Overland Park,KS,USA -Transport Topics -28 Sept 2010: -- YRC Worldwide Chairman and CEO William Zollars, will retire following completion of the company’s comprehensive recovery plan, the less-than-truckload carrier said late Tuesday... Zollars and YRC’s board agreed that he will retain his current positions through the finalization of the recovery plan’s process and until a new CEO is named. YRC said it would seek candidates for the position from both inside and outside the organization... YRC is in the midst of reaching an agreement with the Teamsters union to address “competitiveness issues, re-entry into multi-employer pension funds and progress toward long-term growth,” it said Friday... Zollars, 62, was named chairman and CEO of Yellow Corp., one of YRC’s predecessor companies, in November 1999. Prior to that he was president of Yellow Transportation, the corporation’s main LTL carrier...
* Tennessee - FedEx Freight Considers Rate Hike. FedEx's Logue says YRC's 5.9 percent GRI 'could have been more'
Memphis, TN,USA -The Journal of Commerce Online, by William B. Cassidy -Sep 23, 2010: -- FedEx Freight is studying a price increase of its own after YRC's general rate increase this week, President and CEO Bill Logue said Thursday... A FedEx spokesman said the company is still studying the pricing in the less-than-truckload business, which has lagged behind other shipping modes that have reported improved demand this year. FedEx Freight and YRC are both struggling to return to profitability, with FedEx's less-than-truckload division losing $16 million in its last quarter... Contracts negotiated during last year's rate war contributed to weak pricing and its losses in the quarter that ended Aug. 31 -- its first quarter of fiscal 2011... Efforts to improve pricing made headway quarter to quarter, but year-over-year comparisons were more difficult because of rampant discounting last fall... * Arkansas - ABF To Raise LTL Truck Rates 5.9 Percent
Fort Smith,ARK,USA -The Journal of Commerce Online, by William B. Cassidy -Sep 27, 2010: ... ABF Freight System said today it will raise its general tariff rates 5.9 percent, following an identical increase announced last week by competitor YRC... The trucker is the second less-than-truckload carrier to announce a general rate increase ahead of trucking’s peak shipping season... Con-way Freight, one of the three largest LTL operators along with YRC and FedEx Freight, today said it would not implement an “out-of-cycle” GRI this fall... ABF said in a statement it would revise its general rates Oct. 1. The impact on customers will vary depending on lane and types of shipment, ABF said... * New York - LTL Shippers to Stick with FedEx Freight, Survey Finds
New York,NY,USA -The Journal of Commerce Online, by William B. Cassidy -Sep 28, 2010: -- Majority of customers say they won't divert freight as FedEx's LTL units merge... A majority of shippers approve of FedEx's plans to merge its two trucking units and do not foresee diverting freight to competitors, a Wolfe Trahan survey finds... Sixty percent of the shippers interviewed by the investment research firm saw the merger of FedEx Freight and FedEx National LTL as a "positive" step... FedEx earlier this month said it plans to combine the next-day and regional network of FedEx Freight and the long-haul operations of FedEx National LTL by Jan. 31... The merger will cull 100 terminals, about 20 percent of FedEx Freight's footprint, and eliminate about 1,700 jobs at a cost of $150 million to $200 million... Nine percent of the shippers told the research firm they would increase freight volume with FedEx after the merger of the two networks is completed...
* Virginia - Driver turnover rose significantly in second quarter
Arlington,VA,USA -The Trucker, by Lyndon Finney -27 Sept 2010: -- The ATA reported that the turnover rate for large truckload carriers jumped from a record low 39 percent in the first quarter to 49 percent in the second quarter... A trucking industry leader told, he would know the economic downturn was nearing an end for trucking when there again was talk of a truck driver shortage... And while that talk necessarily hasn’t heated up quite yet, an industry indicator reveals it might not be too far off... That’s because driver turnover rose significantly for the first time in almost four years during the second quarter 2010, according to data released by the American Trucking Associations... Of course, that’s still far, far below the peak of 136 percent reached in both 2004 and 2005, but in the face of the implementation of CSA 2010, which many officials believe will cull out thousands of current drivers, talk of a shortage may be closer than previously thought... Turnover at small truckload fleets increased to 46 percent in the second quarter from 35 percent in the first quarter... (Photo from wmc-usa.org: Haul truck driver)
Labels: trucking industry news USA
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