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Oct 30, 2015

FREIGHTS SHORTAGE * USA: Trucking stocks hit reverse

* New York - ‘Aggressive pricing activity’ raises new alarms of weaker freight demand in the LTL sector

-- Trucking company stocks tumbled Tuesday after several firms gave bleak outlooks for freight demand, raising fears that the industry may soon need to cut shipping rates... United Parcel Service Inc. reported a drop in volumes in its UPS Freight less-than-truckload unit, where loads from multiple shippers are packed on each vehicle. The report came after Roadrunner Transportation Systems Inc., which operates a midsize LTL fleet, cut its guidance for future profits and revenue on Monday, citing weak demand and “aggressive pricing activity,” indicating lower rates offered by its competitors... UPS said carried 5.2% fewer shipments compared with last year’s third quarter, a decline of 148,000 shipments. Demand also deteriorated from the second quarter to the third quarter and prices slipped from the June to September... The weaker results from UPS reported an 8.6% drop in revenue in its freight division in the third quarter from a year earlier, attributing the decline to lower fuel surcharges and declining LTL tonnage... 
(PHOTO: BLOOMBERG NEWS - Tractor-trailers at a YRC Worldwide Inc. facility. YRC is due to release its third-quarter earnings report on Thursday) -- N.Y., USA - The WSJ, by Brian Baskin & Robbie Whelan - Oct. 27, 2015

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