Connect with us

Business

Price of gallon of on-highway diesel declines one-half a penny

Published

on

The average price nationally is 27.7 cents a gallon lower than the comparable week last year. (The Trucker file photo)

WASHINGTON — The average on-highway price of a gallon of diesel declined half a cent to $2.971 for the week ending September 9, according to the Energy Information Administration of the Department of Energy.

It marked the ninth consecutive week the price has declined, according to EIA data.

The largest decline was 1.7 cents in the Central Atlantic states (New York, Pennsylvania, Maryland, Delaware and New Jersey) followed by a one cent a gallon drop in the Midwest (North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Missouri, Iowa, Minnesota, Wisconsin, Illinois, Tennessee, Kentucky, Ohio, Indiana and Michigan).

Only the Rocky Mountain States (Colorado, Utah, Wyoming, Idaho and Montana) at nine-tenths of a cent and the Gulf Coast (New Mexico, Texas, Arkansas, Louisiana, Mississippi and Alabama) at half a cent posted an increase.

The average price nationally is 27.7 cents a gallon lower than the comparable week last year.

For complete prices by region for the past three weeks, click here.

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Schneider now offers rail dray intermodal service

Published

on

Expanding its strength of intermodal expertise to include Rail Dray ensures that the carrier is continuing to meet the demands of a changing industry, a Schneider official said. (Courtesy: SCHNEIDER)

GREEN BAY, Wis. — Schneider, a provider of trucking, intermodal and logistics services, has added a new service to its lineup of intermodal solutions. Schneider Rail Dray focuses on the initial and end moves of intermodal transportation, getting freight from shipper to ramp and ramp to receiver — safely and seamlessly.

“Expanding our strength of intermodal expertise to include Rail Dray ensures that we’re continuing to meet the demands of a changing industry,” said Jim Filter, Schneider’s senior vice president and general manager of intermodal. “The new service provides capacity and control to reliably move dray freight without the inconveniences typically associated with rail moves.”

Schneider Rail Dray is optimal for:

  • Railroad providers needing to move shipper freight.
  • Third-party logistics providers lacking driver capacity.
  • Direct shippers using their own intermodal containers.

Filter said with one call, Schneider provides premium support and visibility needed for rail dray freight:

  • Scale: Conducting over 1 million drays a year, Schneider has the scale to expertly dray freight across an entire network.
  • Visibility: Satellite-tracking technology enables real-time visibility of dray freight and early notification of delays.
  • Risk Mitigation: Schneider’s professionally trained, uniformed drivers operate newer company equipment that is maintained to the highest standard to safeguard against delays and minimize safety and regulatory exposure.
  • Optimization: Schneider has the resources and know-how to efficiently optimize an entire dray network.

To learn more about how Schneider Rail Dray avoids costly hang-ups and keeps rail freight moving, visit Schneider.com.

Schneider’s services include regional and long-haul truckload, expedited, dedicated, bulk, intermodal, brokerage, warehousing, supply chain management and port logistics.

 

 

 

Continue Reading

Business

ACT Research says freight markets still weak, data still trending negative

Published

on

This chart shows the net orders on a 12-month average versus the build rate. Only recently has the build rate been better than the order average. (Courtesy: ACT RESEARCH)

COLUMBUS, Ind. — According to ACT Research’s (ACT) latest State of the Industry: Classes 5-8 Report, economic reports over the past month have more often risen above consensus than fallen below it, but it is premature to declare an end to freight market weakness.

“Data points indicating increased economic activity represent the essential first steps in the process of increasing demand to rebalance the heavy freight markets. However, as in any commodity market, it is not just demand, but supply, and until the supply-side of the market is addressed, the disequilibrium story will continue to weigh on freight rates and by extension the heavy vehicle industry,” said Kenny Vieth, ACT Research president and senior analyst. “While the data are starting to suggest ‘less bad,’ reports suggesting recovery are premature, as key freight metrics continues to trend negative in the latest round of data releases.”

Speaking about the Class 8 market, Vieth said that in concert with weak/deteriorating freight volumes and rates, forward-looking demand indicators continue to erode, even as mid and downstream data points remain robust.

“Ultimately, the current situation of weak orders and strong build is unsustainable,” he said.

Regarding the medium duty markets, Vieth said medium-duty demand metrics remain in better balance, but there are signs of modest fraying on weak net orders, relative build strength and excessive inventories.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continue Reading

Business

Navistar to build new Class 6-8 manufacturing plant in San Antonio area

Published

on

Navistar’s new manufacturing plant will have the flexibility to build Class 6-8 vehicles, complementing the company’s existing assembly manufacturing footprint, which includes truck assembly plants in Springfield, Ohio, and Escobedo, Mexico. The plant will have the flexibility to build Class 6-8 trucks. Pictured is the International LT Series farm model. (Courtesy: NAVISTAR)

LISLE, Ill. — Navistar, a maker of commercial trucks and buses, said Thursday it will be making a capital investment of more than $250 million to build a new manufacturing facility in Texas.

The investment, which is contingent on finalization of various incentive packages, will bring approximately 600 jobs to the San Antonio area.

“Over the last five years, Navistar has made significant investments to improve our position in the market,” said Troy Clarke, Navistar chairman, president and chief executive officer. “This investment will create a benchmark assembly facility to improve quality, lower costs and provide capacity to support anticipated industry growth, as well as market share gains.”

The new manufacturing plant will have the flexibility to build Class 6-8 vehicles, complementing Navistar’s existing assembly manufacturing footprint, which includes truck assembly plants in Springfield, Ohio, and Escobedo, Mexico.

Navistar’s trucks are manufactured under the brand name International.

The announcement of the new Texas plant was part of Navistar’s Investor Day, where company executives presented their 2020-24 strategy “Navistar 4.0” that includes a plan to increase its EBITA margins to 12%.

Clarke said “Navistar 4.0” includes the following elements:

  • Improve EBITDA margins to 10% by 2022 and 12% by 2024.
  • Grow market share and become the number one choice of the customer through new product offerings and customer segmentation.
  • Implement a single platform strategy to optimize use of R&D resources and commonization of parts and tooling.
  • Increase modular design resulting in customer benefits, speed to market and lower product costs.
  • Build a new truck assembly facility in San Antonio, Texas, reducing logistics and manufacturing costs.
  • Use the TRATON alliance to provide significant procurement savings, more efficient research and development spend and new integrated power train offerings for customers.
  • Grow aftersales revenues with an expanding distribution network, growing private label sales and e-commerce initiatives.
  • Improve financial results allowing the company to invest in growth initiatives, de-lever the balance sheet and fully fund its defined benefit pension plans by 2025.

Building on the major advances achieved in the last five years, including gains from an alliance with TRATON Group, Navistar 4.0 lays out a clear path for the company’s ongoing transformation, Clarke said.

“Navistar is committed to building on the gains of the past five years to improve financial returns to shareholders,” he said. “Navistar 4.0 establishes a clear road map to grow EBITDA margins to 12%, while also winning in the marketplace.”

The new Texas investment builds on Navistar’s recently announced plans to invest $125 million in the Huntsville, Alabama, engine plant to produce next-generation, big-bore powertrains developed as part of the alliance with TRATON, a subsidiary of Volkswagen AG and a global commercial vehicle manufacturer worldwide.

The Texas site is located on a critical corridor along Interstate 35, which links Navistar’s southern United States and Mexico supply bases, allowing for significant logistic improvements, resulting in lower cost and enhanced profitability.

“This investment by Navistar is paramount to Texas’ success in growing our diverse and highly skilled manufacturing workforce,” said Texas Gov. Greg Abbott. “The Lone Star State is the new frontier in innovation, and I am confident that this partnership will usher in even greater economic prosperity for our state.”

“We are so proud to have a company like Navistar, a leader in vehicle innovation, in San Antonio,” said San Antonio Mayor Ron Nirenberg. “It shows that our strategy to grow our advanced manufacturing sector is working.”

“The county has, for many years, been touting the strength of our Texas-Mexico region as a platform for vehicle production,” said Judge Nelson Wolff. “Navistar’s decision to locate their newest facility here is just the latest affirmation that our community is uniquely situated to host world-class companies in advanced manufacturing industries. We are thrilled to have them in Bexar County.”

Navistar plans to break ground on the property later this year and anticipates production to begin approximately 24 months later.

In its presentation Thursday, Navistar also provided industry and company financial guidance for 2020, including:

  • Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be between 335,000 and 365,000 units.
  • Revenues are expected to be between $10.0 billion and $10.5 billion.
  • Adjusted EBITDA is expected to be $775 million to $825 million.
  • Manufacturing free cash flow is expected to be break-even excluding changes in working capital.

For more information, visit www.navistar.com.

Continue Reading

Trending