Economy

Mounties and APTA Join Cargo-Theft Fight preview image Mounties and APTA Join Cargo-Theft Fight article image

Mounties and APTA Join Cargo-Theft Fight

FREDERICTON, NB - Trucking, law enforcement and insurance interests are coming together to address what they say is the growing problem of cargo theft in one part of Canada. The Insurance Bureau of Canada (IBC), the Royal Canadian Mounted Police (RCMP) and Atlantic Provinces Trucking Trucking Association (APTA) are set to formally announce a program on Wednesday to help raise awareness of and combat cargo theft, which includes stealing trucks or trailers containing merchandise. Cargo theft in Atlantic Canada and across the country has become a serious issue, according to ICB, the national industry association representing Canada's private home, auto and business insurers. "Not only does it put the safety of Canadians in jeopardy, it can cost the Canadian economy billions of dollars and is often linked to organized crime, which uses the proceeds to fund activities such as gun and drug smuggling," the group said in a release. Today's Trucking will have more details about this following the full announcement.

Diesel Prices Continue Decline, Canadian Crude Tumbles preview image Diesel Prices Continue Decline, Canadian Crude Tumbles article image

Diesel Prices Continue Decline, Canadian Crude Tumbles

LONDON, ON and WASHINGTON, D.C. -- Fuel prices continue falling, returning to levels seen earlier in the year while also hitting their lowest price in several years south of the border, according to figures released this week. The petroleum information services provider The Kent Group reports average Canadian cost of diesel shed another $0.006 this week, hitting $1.086 per liter. This marks its sixth consecutive weekly drop and is at its lowest level since early February. Compared to this week a year ago the average cost of diesel is down $0.212. Prices are varied across the country, averaging $1.14 per liter in the Atlantic Provinces, $1.226 in Quebec, $1.166 in Ontario and $1.16 in the Western Provinces. This happened as national average cost of regular grade gasoline fell $0.008 over the past week to $1.176 per liter, the third straight weekly decline and its lowest price since last May.

International Freight Lifts N.A. Intermodal Growth preview image International Freight Lifts N.A. Intermodal Growth article image

International Freight Lifts N.A. Intermodal Growth

CALVERTON, MD -- Intermodal freight volume jumped 4.5 percent during the second quarter of the year in North America, with international shipments surpassing expectations, according to a new report from the Intermodal Association of North America (IANA). It said despite some softening due to declining trailer volumes, domestic containers, which includes Canada and the U.S., buoyed the overall domestic market segment in the two countries with 3.5 percent growth. "International volumes displayed one of the largest increases since IANA began keeping records in 2000," said Joni Casey, president and CEO of IANA. "While much of the strong performance in second quarter was due to the recovery from the first quarter's port congestion issues, strengthening imports also played a role in pushing international volumes higher. We are also optimistic that the domestic market will continue to show gains, as the over-the-road segment begins to tighten." The seven highest-density trade corridors, accounting for 65.8 percent of total intermodal volume, rose 4 percent this quarter, just below the 4.5 percent industry average. Growth rates for each individual corridor varied widely.

Telematics Providers Merging in $85 Million Deal preview image Telematics Providers Merging in $85 Million Deal article image

Telematics Providers Merging in $85 Million Deal

TORONTO and VANCOUVER - Two Canadian based telematics providers have reached an agreement to merge, creating a company with more than 150,000 subscribers across Canada and the U.S. BSM Technologies Inc. a provider of remote monitoring, fleet management, and fleet diagnostics systems; and Webtech Wireless Inc., which provides GPS fleet management systems, said on Thursday they have entered into a definitive agreement creating a company worth $85 million. The deal, which has been approved by both company's board of directors, calls for BSM to acquire all of the outstanding Webtech common shares.

Canada Directs $16.5 Million to Western Freight Movements preview image Canada Directs $16.5 Million to Western Freight Movements article image

Canada Directs $16.5 Million to Western Freight Movements

OTTAWA - The Canadian government on Wednesday announced it will spend approximately $16.5 million on nine transportation infrastructure improvement projects in British Columbia to help freight more efficiently. All are for Canada's Asia-Pacific Gateway, an investment and policy initiative focused on increasing trade with the Asia-Pacific region by improving the region's network of seaports, airports, railways, roadways and border crossings across Western Canada. According to Transport Canada, these new projects will reduce bottlenecks, address capacity issues and enhance the efficiency of the transportation system in moving goods, services and people to and from the fast-growing Asia-Pacific economies.

Average Canadian Diesel Cost Lowest Since February preview image Average Canadian Diesel Cost Lowest Since February article image

Average Canadian Diesel Cost Lowest Since February

LONDON, ON and WASHINGTON, D.C. -- Average Canadian prices for fuel are continuing with their recent downward trend with diesel hitting its lowest level in months while in the U.S. it's at its lowest since October 2009. New figures released by the petroleum information services provider The Kent Group shows a drop of $0.009 from last week to a national average of $1.092 per liter, also marking the fifth straight weekly decline. Compared to the same time a year ago the average cost of trucking's main fuel is down $0.204 per liter. Meantime, in the U.S. there has been a more dramatic drop in fuel prices, with diesel hitting its lowest level in nearly six years, according to the country's Energy Department.

Ground Freight Transportation Costs Post Slight Increase preview image Ground Freight Transportation Costs Post Slight Increase article image

Ground Freight Transportation Costs Post Slight Increase

TORONTO -- The total cost of ground transportation for Canadian freight shippers increased 0.3% in May compared to the month before, according to new figures released by the Canadian General Freight Index (CGFI). "Total freight costs increased marginally this month. Although there were slight increases in less-than-truckload (LTL) and truckload cross border costs, these were mostly offset by decreases in the LTL and truckload domestic costs," said Doug Payne, President & COO, Nulogx. Compared to May 2014 the index is up 4.86%.