Economy
Rise in Oct. tonnage means a happy holiday: ATA
ARLINGTON, VA - For-hire truck tonnage was up in October, suggesting a happy holiday season is to come, according to the American Trucking Associations (ATA). The ATA's seasonally adjusted for-hire truck tonnage index rose 3.3% from the month before, after a decline of 1.9% was posted in September.
More drivers are buckling up: FMCSA
WASHINGTON, D.C. - More truck drivers are wearing their seat belt, according to the U.S. Federal Motor Carrier Safety Administration (FMCSA). A national survey conducted by the group found that seat belt usage in the U.S. was up to a record level of 86% in 2016, from just 65% in 2007. FMCSA deputy administrator Cathy F. Gautreaux says while the results of the survey are good news, work would continue on the issue until 100% of drivers buckled up on the road.
Trucking conditions growing stronger: FTR
BLOOMINGTON, IN - Trucking conditions were up again in September according to analysts at FTR Intelligence. Conditions showed growth of more than 3% month-over-month, despite what they called the weakest recovery on record related to efforts being made following Hurricanes Harvey and Irma. FTR predicts strong demand for truck freight going forward should keep market conditions solidly positive through 2018.
Fleets changing routes to attract drivers: survey
COLUMBUS, OH - With a strong freight market and tight labor market expected to continue into 2018, fleets are adjusting their business models to compensate, according to CK Commercial Vehicle Research (CKCVR). The firm conducted a survey of 50 fleets in October, and found companies are shortening the average length of hauls, and implementing more regional hauls, in order to be more attractive to drivers. The shorter hauls allow drivers to be home each night, a major item on the wish lists of many, and fleets are hoping the changes will mean increased driver recruitment and retention according to CKCVR.
IN PRINT — Bulk Buyer: Don Daseke
STEINBACH, MB -- Big Freight Systems wasn't for sale. The Coleman family had been running the business since 1948, when they bought South East Transfer in Steinbach, Manitoba. Chief Executive Officer Gary Coleman was focused entirely on finding ways to grow. When a courier package arrived from Don Daseke, proposing a potential sale, he simply filed it away. But Daseke persisted. The pair met in person. And this spring Big Freight Systems became the first Canadian operation in Daseke Inc.'s expanding family of specialized, flatbed carriers. "His philosophy on business, his philosophy on people, his philosophy in terms of driving success forward through collaboration, all ran very close to me," Coleman recalls. "I got comfortable with his long-term plan." That plan is to consolidate fleets in an industry sector dominated by family-owned businesses. The Texas entrepreneur has secured more than 3,800 trucks and 8,200 trailers so far, accounting for about 1% of what Daseke estimates is a US $133 billion market. The business reported $30 million in revenue in 2009, growing to a pro forma of $869 million last year. And more acquisitions are in the works. Daseke refers to himself as an accidental trucker. He began his career as an auditor, held roles at IBM, and later built a residential real estate business that sold for US $1.7 billion. He first invested in trucking nine years ago only after a friend introduced him to Smokey Point Distributing, which specialized in aviation cargo. That became the first of today's 13 operating companies.
Class 8 orders surge in October
BLOOMINGTON, IN - Sales of Class 8 vehicles rose for the fifth straight month in October according to analysts at FTR Intelligence. The company released its preliminary Class 8 order numbers showing 62% growth over September, and 167% rise over orders for the same time last year.
Shipping conditions will worsen in 2018: FTR
BLOOMINGTON, IN - Fuel cost increases following Hurricanes Harvey and Irma, and increased logistic costs for shippers, caused shipping conditions in the United States full-load market to take a negative turn for the month of August, according to analysts at FTR Intelligence. Although the increased fuel costs are temporary, the group says it expects the increase in logistics costs to continue into 2018.
Transtex acquires RM2J
MONTREAL, ON - Canadian aerodynamic solutions company Transtex announced the acquisition of fleet safety technology company RM2J, yesterday. The transaction, completed in July, represents a strategic opportunity for Transtex, the company said in a release. The acquired technologies will provide products that increase fuel savings while reducing speeds for improved security, Transtex said.
