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Economic trends: Page 71
Business
Rates fall in July, but remain at record highs
Per-mile rates on the spot market in July fell from the month prior in all three segments (reefer, flatbed and dry van) for the first time since January, according to Internet Truckstop’s monthly rate data, but rates in all segments remain near all-time high territory.
August 5, 2014
Business
Diesel price edges down in fifth consecutive weekly drop
The national average price for a gallon of on-highway diesel continued its downward streak in the week ended Aug. 4, falling five-tenths of a cent to $3.853, according to the government. The price of diesel has fallen every week since the week ended June 30
August 4, 2014
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Business
Trucking adds 2,300 jobs in July as U.S. hiring remains strong
The for-hire trucking industry added 2,300 jobs in July on a seasonally adjusted basis, according to the government. The U.S. economy as a whole in July added 209,000 non-farm jobs, but the national unemployment rate rose a tenth of a percent to 6.2 percent.
August 1, 2014
Business
Paccar, Cummins report increased 2Q revenues, earnings
Improving truck sales in the U.S. and Canada and strong aftermarket parts and financial services results worldwide pushed Paccar’s revenues and net income forward during the second quarter of 2014. Cummins attributes its revenue increases to stronger on-highway demand.
July 31, 2014
Business
Diesel continues downward streak, still at lowest point in 8 months
The national average price for a gallon of on-highway diesel fell another 1.1 cents to $3.858 in the week ended July 28, according to the DOE. That’s the fourth consecutive week the U.S.’ average diesel price fell, and it’s still at its lowest point since mid-November 2013. Last week’s 2.5-cent drop was also the biggest week-to-week decline in the same time period.
July 29, 2014
Business
Daimler, Volvo report higher sales, profit in second quarter
Daimler reported this week that second quarter revenue in its truck segment were mostly flat at $10.74 billion compared to the same period last year, while profits jumped 5 percent to $612 million. Volvo in its earnings call reported a 44 percent increase in deliveries through June, while Mack, which Volvo owns, reported a 24 percent increase in deliveries.
July 25, 2014
Business
Truck tonnage falls in June following four months of big gains
Truck tonnage as measured by the American Trucking Associations’ monthly For-Hire Truck Tonnage Index fell 0.8 percent in June. The index is still up 2.3 percent from the same month last year and 3.2 percent compared to 2014’s first quarter.
July 22, 2014
Business
ATA Forecast: Tonnage to grow, freight revenues ‘surge’ through 2025
The ATA has released the latest edition of its look at the future of freight, and that future is bright: continued growth for not just the trucking industry, but for the freight economy overall. Carriers, however, will need to adapt to thrive.
July 22, 2014
Business
Diesel sees biggest price drop since November, hits 2014 low
The national average price for a gallon of on-highway diesel fell 2.5 cents in the week ended July 21 to $3.869, according to the DOE. That’s the biggest price drop since the week ended Nov. 11, and the lowest the national average price of diesel has been since the week ended Nov. 25.
July 21, 2014
Business
Monday Money: Linehaul rate talks still ‘not favorable’ for shippers
“As demand continues to increase while capacity exits the marketplace, this year’s procurement events and contract negotiations have not, in general, been ending favorably for shippers,” says the latest Cass Truckload Linehaul Index report. The pricing index was up 5.2 percent in June from the year before.
July 21, 2014
Business
June spot market freight soars on economic upturn: 6 slides
Freight availability on the spot market was 50 percent higher in June compared to the same month the previous year, continuing a pattern of elevated activity in 2014, according to the DAT North American Freight Index — a surge backed by an upturn in the economy, as the Federal Reserve reported Wednesday.
July 17, 2014
Business
Diesel price down again, hits one of lowest points of the year
The national average price for a gallon of on-highway diesel fell in the week ended July 14 to $3.894 a gallon, according to the government. This is the second straight week the price of diesel has dropped and the lowest the price of diesel has been since January, save for two weeks in June.
July 14, 2014
Business
Monday Money: Records are made to be broken
Spot market rates and intermodal volumes continue to set records, while import container volume has climbed to a post-recession high as retailers scramble to work around the West Coast ports’ labor issues. Truck fleets are increasingly burdened, however, by contract rates that aren’t keeping pace with increased costs for driver recruitment and retention.
July 14, 2014
Business
DOT’s Freight Index climbs for fourth straight month, sets another record
The amount of freight carried by the for-hire transportation industry rose 0.7 percent in May, according to the Department of Transportation. May’s reading of 120.0 on the index is an all-time high and marked four straight months of increases.
July 11, 2014
Business
Comdata’s FleetAdvance tool receives award
Comdata’s FleetAdvance tool has been named as a 2014 Best Practice Award Winner from The Data Warehousing Institute (TDWI), a provider of education and research in the business intelligence and data warehousing industry.
July 11, 2014
Business
Analyst: Refrigerated freight environment to remain hot
The economic outlook for the refrigerated sector of the trucking industry continues to be strong, according an analyst at the Truckload Carriers Association’s 31st Annual Refrigerated Division Conference. But the distribution landscape for refrigerated freight is changing.
July 10, 2014
Business
Price of diesel falls slightly after two weeks of upticks
The national average price for a gallon of on-highway diesel dropped seven-tenths of a cent to $3.913 in the week ended July 7, according to the Department of Energy’s Energy Information Administration, snapping the short two-week uptick in the price of diesel.
July 8, 2014
Business
Shipment volumes near pre-recession levels, expenditures hit record high, Cass reports
The freight transportation sector continued to strengthen in June, with both shipment volumes and expenditures rising once again on the latest Cass Freight Index. Both indexes have increased every month since January. And even though some measures of the overall economy indicate weakness, the freight sector has gained momentum throughout 2014.
July 8, 2014
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Regulations
Workforce Pell Grant unlocks funds for CDLs, diesel tech certs
Pell Grants would be available for programs lasting 8–14 weeks, helping students fund CDL and certain diesel mechanic certifications.
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