Economy
Slow growth for year’s end: FTR
BLOOMINGTON, IN - FTR Intelligence expects the economy to slow down before the end of the year, matching slower freight growth. The company reported improvements to shipping conditions in June over the previous month, but warns that slow contract pricing increases, and a modest weakening of the expected regulatory environment, will mean slower growth and fairly moderate conditions in the short-term.
WABCO, Nexteer announce long-term cooperation
AUBURN HILLS, MI - WABCO Holdings and Nexteer Automotive are steering into the future together, announcing a long-term cooperation agreement today. The two companies will collaborate to develop and supply active steering systems for medium- and heavy-duty commercial vehicles, and also look to work together on developing autonomous trucking technology.
Harvey trounces Texas; trucking
HOUSTON, TX - Hurricane Harvey is hitting hard, taking up to 10% of the trucking industry with it, reports FTR Intelligence. The category four storm made landfall in Texas, northeast of Corpus Christi, Friday night, bringing with it rain and winds of up to 209 kilometers per hour (130 miles per hour).
E-commerce is transforming trucking
NASHVILLE, TN - Seventeen years ago, Tom Hanks stood in a shipping yard and lamented that 87 hours was an eternity. Castaway was on the big screen, and the Hollywood superstar was playing a time-obsessed operations manager for a world-wide shipping company. Shouting that "the cosmos [were] created in less time. Wars have been fought and nations toppled at 87 hours. Fortunes made and squandered," Hanks was forecasting the future of supply chain. From 87 hours to just 24 or less, time is running out for goods that take more than a day to get to consumers, and trucking is undergoing massive changes, all thanks to a store that sells just about everything: Amazon. As e-commerce grows exponentially, taking larger and larger shares of markets -- like household goods, cosmetics and personal care items, groceries, and furniture -- it's re-shaping how goods are packaged, shipped, and stored, forcing fleets to adapt quickly. Retail markets were up in July all over the United States, but online sales saw an increase of 1.3%, compared to just 0.1% for traditional brick-and-mortar stores.
Total aquires Maersk Oil & Gas for nearly $7.5B
PARIS, FRANCE - In a debt for stock swap, petroleum company Total has acquired Maersk Oil & Gas from A.P. Moller. The Scandinavian transportation and energy company will receive nearly $5 billion in Total stock, while Total takes on $2.5 billion in debt from Maersk Oil & Gas. Total has also offered a seat on its board to A.P. Moller's main shareholder.
Trout River and Valley Equipment announce partnership
COLEMAN, PEI - Trout River Industries and Valley Equipment Ltd. have partnered in a deal that will see Valley Equipment and its sister locations become full-service dealers for the live-bottom trailer manufacturer. Valley Equipment, along with Northeast Truck & Trailer Inc. announced they will be the dealer for Trout River Industries for Atlantic Canada.
For self-driving tech, weather is snow easy job
NASHVILLE, TN - Trucking is rolling into the future, and the trucks may be getting there all by themselves. Autonomous trucking was the topic of the moment this week at the 2017 In.Sight user conference and expo in Nashville, with panelists disagreeing on what is possible and in what timeline. Development of autonomous technology still faces a lot of obstacles including, one panel noted, snowbanks.
