Memphis,TENN,USA -Fleet Owner -November 2, 2010: -- Package carriers United Parcel Service and FedEx Corp. are both boosting rates for 2011 in part to recover freight revenues lost during the global economic downturn – particularly in the U.S. LTL market. UPS won’t reveal specific rate increases for its divisions until Nov. 12, but noted it is raising rates on ground shipment, air express parcels, and U.S.-origin international shipments rates by a net of 4.9%,effective Jan. 3rd. The rate increase for UPS ground shipments is based on a 5.9% increase in the base rate, less a 1% reduction to the index-based ground fuel surcharge... (Photo from i.cnn.net: FedEx's trucks)
* USA - OOCL Dropping Chassis at Seven More Cities. Fundamental change spreads across country as carriers cut costs
Hong Kong,China -The Journal of Commerce Online, by Peter T. Leach -Nov 2, 2010: -- OOCL announced the second phase of its policy to drop chassis coverage as part of its services on Monday, adding seven cities to the areas where it will no longer provide equipment for trucking ocean container shipments... The Hong Kong-based carrier, which has already phased out supplying chassis in three East Coast cities, said it will no longer provide chassis as of Jan. 1, 2011 in Buffalo, N.Y., El Paso, Texas, Harrisburg, Pa., Huntsville, Ala., Jacksonville, Fla., Laredo, Texas and Tampa, Fla... OOCL already stopped providing chassis in Baltimore, Philadelphia and Pittsburgh as of Sept. 1... OOCL said all motor carriers, either working as suppliers for OOCL or OOCL customers, must provide chassis for these shipments... The carrier was among the first to start phasing out chassis service in the U.S., a fundamental change that has spread across the country this year as ocean carriers have cut back costs in part by carving away what they see as secondary services outside their core port-to-port operations... Other carriers that have since announced the phasing out of chassis include, Evergreen Line, Atlantic Container Lines, CMA CGM, Cosco, NYK Line, Hyundai merchant Marine, Yang Ming and Hanjin Shipping... (Photo from occontainer.com
* California - Con-way Reports Third-Quarter Loss
San Mateo,CA,USA -Transport Topics -3 Nov 2010: -- Con-way Inc. Wednesday reported a third-quarter loss compared with a profit a year ago, citing acquisition and other charges for the period... The carrier lost $8.2 million, or 15 cents per share, compared with net income of $13.5 million, or 27 cents, a year ago... Less-than-truckload Con-way Freight, the company’s largest unit, had operating income of $13.1 million, down from $22.8 million a year ago. Revenue rose 13.1% to $797.1 million, as weight per day rose 8.7%... Con-way Truckload’s operating income fell to $5.5 million from $10.6 million last year. Revenue fell 3.8% to $140.7 million... Menlo Worldwide Logistics, Con-way’s logistics and supply chain unit, reported an operating loss of $6.3 million, compared with operating income of $9.5 million a year ago. Revenue rose 6.8% to $370 million...
* Arkansas - ABF Cuts Operating Loss to $2.6 Million
Fort Smith,ARK,USA -JOC, by William B. Cassidy -3 Nov 2010: -- Arkansas Best Corp. Wednesday said its third-quarter loss was narrower than a year ago as tonnage improved at its ABF Freight System less-than-truckload unit... The company reported a loss of $749,000, or 3 cents a share, compared with a loss of $5.6 million, or 23 cents, a year ago... Revenue rose 12% to $445.5 million, said Arkansas Best, which has reported a loss of $7.4 million, or 30 cents a share, in the second quarter... ABF Freight’s LTL tonnage per day rose 13.9%, while revenue improved 11% to $409.9 million...Labels: trucking industry news USA
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