Economy
BC Truckers Warned of Limited Ferry Service
VICTORIA, BC - British Columbia Ferry Services is advising truck drivers to take the Horseshoe Bay to Nanimio Ferry if they are traveling to Powell River, due to limited space on the Earls Cove Ferry to Powell River, according to the British Columbia Trucking Association. The reason is the temporary removal of one vessel from service on the Comox-Powell River route to repair a propeller hub while another ferry will operate on a modified schedule now through Feb. 1. According to Global News, this is the third time in a year the Queen of Burnaby has been pulled from service for repairs, frustrating Powell River Mayor Dave Formosa, especially for those who depend of the ferry for business purposes.
6 Takeaways from 2015 in Truck Parts and Service
The truck parts and service aftermarket got a lot of attention in 2015, as the focus of many fleets shifted to total cost of operation rather than cost per mile. This shined a bright spotlight on maintenance and repair practices as ways to keep asset utilization high. Here's a look back at some of the major aftermarket issues from the past year. This year saw the signing of a memorandum of understanding between the Commercial Vehicle Solutions Network and the Truck and Engine Manufacturers Association along with the Equipment and Tool Institute, the Auto Care Association and Heavy Duty Aftermarket Canada. As a result of the MOU, fleets and independent repair garages will have access to service information - previously only available to dealers - for model year 2010 and later trucks and buses over 10,000 pounds sold in the United States and Canada.
2015 Ending with Lowest Diesel Costs in Years
LONDON, ON and WASHINGTON, D.C. - As 2015 draws to a close average prices for both diesel and gasoline in Canada and the U.S. are at their lowest levels in years. The Canadian national average price of diesel has fallen for the seventh straight week, down $0.009 from last week, to $0.986 per liter, according to the petroleum information services provider The Kent Group. Not only is this the lowest price since August 2010 it is $0.194 less than this time last year. For all of 2015, the fuel averaged $1.092 per liter compared to $1.339 last year.
Element Closes on Funding for Fleet Management Business
TORONTO, ON - Element Financial Corp. has closed on US$4.8 billion in rated asset-backed security (ABS) funding that will fuel the company's aggressive move into the U.S. fleet management business. In June, Element Financial Corp. reached an agreement to acquire GE Capital's remaining North American fleet management operations in the U.S. and Mexico, along with as GE Capital's fleet management operations in Australia and New Zealand.
ATA: U.S. Truck Tonnage Mixed, Previews 2016
ARLINGTON, VA - A measure of trucking freight activity fell last month in the U.S., but remains not far from a record high level hit early this year, accordign to one fleet group, who also offered a preview into conditions for the New Year. The American Trucking Associations' (ATA) advanced seasonally adjusted For-Hire Truck Tonnage Index declined 0.9 percent in November to 134.3 from the month before, following an increase of 1.8 percent during October, which was revised downward from a first reported 1.9 percent gain. This latest index reading is just 1.1 percent below the all-time high of 135.8 reached in January 2015.
