tanker

Gibson Energy selling truck fleet

TORONTO, ON – Gibson Energy is selling all its Canadian trucking operation, and most of the fleet it operates in the U.S., as it focuses business assets on crude oil infrastructure. Between $275 and $375 million in assets are being sold overall, with the Canadian trucking operation expected to be sold by mid 2019, and non-core U.S. trucking businesses to be sold as early as the end of this year. “Gibson Energy will no longer be thought of as a trucking business,” president and Chief Executive Officer Steve Spaulding said in a Toronto presentation for investors, suggesting that some of the company’s assets simply don’t fit with the company’s vision for the future.

IN PRINT — Tanks a Lot: Leave some tanker spec’ing to experts

TORONTO, ON -- There used to be good money in the liquid bulk business. The required equipment is so specialized that it presented somewhat of a barrier to entry into the market. That's still the case, but there are more players in the game now, and competition is keeping rates at near-1980s levels. Fleets, both private and for-hire, are now trying to make up for the low rates by optimizing their trailer spec's to increase utilization and carrying capacity.