Latest posts about Transportation
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Q&A: Adam Satterfield, CFO, Old Dominion Freight Line
March 22, 2023
Logistics Management Group News Editor Jeff Berman recently spoke with Adam Satterfield, CFO of Thomasville, North Carolina-based national less-than-truckload (LTL) carriers Old Dominion Freight Line about various industry trends and themes, including: the current state of the LTL market, the freight economy, rates and pricing, and supply chain shifts, among others.
DSV announces acquisitions of S&M Moving Systems West and Global Diversity Logistics
March 21, 2023
DSV said that the objective of these acquisitions are three-fold: to augment its position within the semiconductor industry; align with its new Phoenix-Mesa Gateway Airport operations; and support its growing cross-border services into Latin America. It added that these acquisitions are expected to be made official next month.
ATA reports February truck tonnage increase
March 21, 2023
The ATA’s advanced Seasonally Adjusted (SA) For-Hire Truck Tonnage Index, for February, came in at 118.4 (2015=100), for a 1.2% increase, over January’s 117 reading.
Biggest gets bigger: Knight-Swift buying USX for $808 million in huge TL deal
March 21, 2023
Phoenix-based Knight-Swift Transportation, already the biggest player in the TL market at $4.5 billion revenue last year, is buying Chattanooga, Tenn.-based U.S. Xpress, which ranked ninth in TL revenue last year at $2.2 billion. The deal is valued at $808 million, including assumption of $484 million of debt.
ATA has ‘grave concerns’ that EPA may allow California-type air quality rules on heavy trucks
March 21, 2023
The American Trucking Associations (ATA) expressed what it called its “grave concerns” about media reports that the Environmental Protection Agency (EPA) may be on the verge of granting the state of California waivers to implement potentially harmful and unrealistic emissions rules on the industry. Under California rules, new Class 8 heavy truck models would be zero-emission next year. Diesel and gasoline-powered drayage trucks must retire after 18 years to guarantee that they meet a zero-emission requirement by 2035.
National diesel average falls 6.2 cents, to $4.185, reports EIA
March 21, 2023
The national average decreased 6.2 cents, to $4.185, following a 3.5-cent decline, to $4.247, for the week of March 13.
POLA and POLB report February volume declines
March 20, 2023
The Port of Los Angeles reported that February volume—at 487,846 TEU (Twenty-Foot Equivalent Units)—were down 43% compared to February 2022. The Port of Long Beach reported that total February volume—at 543,675 TEU—dropped 31.7% annually
FTR Trucking Conditions Index shows solid sequential improvement, to start 2023
March 20, 2023
For January, the most recent month for which data is available, the TCI came in at -1.71, a significant improvement over December’s -6.1 and November’s -7.94. That was preceded by October’s -11.25, its lowest level since the April 2020 all-time low, at -28.66. The September TCI reading came in at -2.35.
U.S. rail carload and intermodal volumes are down for the week ending March 11, reports AAR
March 17, 2023
Rail carloads—at 229,246—fell 1.5% annually, and intermodal containers and trailers—at 229,383—fell 13.0%.
STB decision officially signs off on Canadian Pacific-Kansas City Southern merger
March 15, 2023
The long-awaited decision regarding the acquisition of Kansas City Railway Company (KCS) by Canadian Pacific (CP) reached its expected outcome today, with the Surface Transportation Board (STB), an independent adjudicatory and economic-regulatory agency charged by Congress with resolving railroad rate and service disputes and reviewing proposed railroad mergers, saying it has approved the $31 billion deal, which will go into effect on April 14.
DAT Truckload Volume Index sees February declines
March 15, 2023
February’s van freight TVI—at 207—fell 8%, from January to February, and was down 5% annually. The refrigerated (reefer) TVI—at 162—was down 7.9% compared to January and off 4.7% annually. And the flatbed TVI—at 217—was in line with January’s 218 reading and up 7.9% annually. DAT observed that these lower February TVI readings are not uncommon, due to February having fewer days.
February Cass Freight Index report sees annual shipment and expenditures declines
March 14, 2023
February’s shipment reading—at 1.167—was down 0.3% annually, up against an easy annual comparison, while rising 3.8% over January’s 1.124 reading. And the February expenditures reading—at 4.020—was off 9.7% annually, while seeing a 1.9% decline, from January to February.
Q&A: Matt Muenster, Chief Economist, Breakthrough
March 14, 2023
Logistics Management (LM) Group News Editor Jeff Berman recently spoke with Matt Muenster, Chief Economist for Green Bay, Wisc.-based Breakthrough, an innovator in transportation management, dedicated to creating transparent and fair strategies for the world’s leading shippers. Muenster provided Berman with an overview of steps shippers need to take and consider, relating to inventory management, and the impact of key economic indicators on freight volumes, among others.
Driver recruitment woes have ‘abated somewhat,’ top TL executives say
March 14, 2023
The decades-long and ever-perplexing truck driver shortage—estimated in excess of 80,000 by the American Trucking Associations—has eased somewhat, according to leading trucking executives. In exclusive interviews with LM, top executives say years of pay increases have apparently paid off in better retention and recruitment of qualified drivers.
State of Less Than Truckload (LTL) 2023: Volumes down, yields up
March 12, 2023
The LTL market’s surprising profitability and ability to not only exist, but to become the most lucrative and well-managed niche of the overall $830 billion trucking industry, is astounding to even veteran leaders in the sector. How is this happening?