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Reddaway celebrates centennial anniversary while continuing its evolution

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One hundred years after its founding, Reddaway operates with 5,000 trailers, 1,500 tractors, and is now part of YRC Regional Transportation, along with Holland in the Midwest and Southeast, and New Penn serving the Eastern United States (Courtesy: REDDWAY)

TUALATIN, Ore. — Reddaway, the longest continuously operating Oregon-based regional less-than-truckload carrier, is celebrating its 100-year anniversary this year.

Founded in 1919 in Oregon City, Reddaway continues to advance its services for the 21st century while remaining the premier service provider in the Western United States and Canada, according to Reddway President Bob Stone.

Reddaway’s founder, William Arthur Reddaway, began the company with one Ford Model T truck primarily serving Portland and Oregon City. One hundred years later, Reddaway operates with 5,000 trailers, 1,500 tractors, and is now part of YRC Regional Transportation, along with Holland in the Midwest and Southeast, and New Penn serving the Eastern United States.

“It’s humbling to think about the legacy of innovation, continuous improvement, exceptional reliability and the personalized support that have not only carried us through the past 100 years, but have allowed us to thrive,” Stone said. “I have had the pleasure of witnessing it firsthand for the past 25 years. I’m honored to work alongside the dedicated people who make Reddaway a company that our customers enjoy doing business with. It’s this culture and our people who help us continue to thrive into the next century.”

As part of the company’s 100-year celebration, Reddaway will be hosting appreciation events in the Tualatin office as well as field offices to recognize and thank the thousands of loyal employees who work hard to take care of the customers they serve, Stone said.

The western U.S. provider of LTL services, Reddaway currently employs over 2,800 people and operates more than 40 service centers. With high on-time reliability and one of the lowest claim ratios in the west, Reddaway continues to lead the industry in customer satisfaction.

Reddaway has earned multiple distinctions over the years, including these recent awards such as the 2018 West Coast Regional Carrier of the Year from Worldwide Express, 2018 LTL Carrier of the Year from DHL Supply Chain and the 2018 Carrier of the Year, West Regional, by GlobalTranz.

For more information, visit www.reddawayregional.com.

 

 

 

 

 

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FTR’s Shippers Conditions Index improves again in June up two point to 8.8

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The chart shows that the 2019 Shippers Condition Index is considerable higher that for the comparable period in 2018. (Courtesy: FTR)

BLOOMINGTON, Ind. — FTR’s Shippers Conditions Index (SCI) rose to a good positive reading in June of 8.8, up two points from the updated May measure.  The June SCI reading is the strongest since February 2016.

Freight-related indicators are mixed, FTR said.

Manufacturing is growing very slowly, and construction is weaker. However, consumer spending remains strong.  Truckload rates are about 7.5% below 2019 with spot rates down nearly 18% whereas less-than-truckload rates have been higher this year.

Both are expected to decline in 2020.   Intermodal rates continue to be soft with rail expecting 5% growth in 2019.

“The relatively weak rate environment for truckload allows it to compete more effectively with intermodal,” said Todd Tranausky, vice president of rail and intermodal at FTR. “Intermodal volumes have been stymied by trade headwinds, changes in rail service offerings, overall rail service levels, and the weak truck market. International and domestic intermodal each struggled in June with weak results.”

The Shippers Conditions Index tracks the changes representing four major conditions in the U.S. full-load freight market. These conditions are: freight demand, freight rates, fleet capacity, and fuel price. The individual metrics are combined into a single index that tracks the market conditions that influence the shippers’ freight transport environment. A positive score represents good, optimistic conditions. A negative score represents bad, pessimistic conditions. The index tells you the industry’s health at a glance. In life, running a fever is an indication of a health problem. It may not tell you exactly what’s wrong, but it alerts you to look deeper. Similarly, a reading well below zero on the FTR Trucking Conditions Index warns you of a problem…and readings high above zero spell opportunity. Readings near zero are consistent with a neutral operating environment. Double digit readings (both up or down) are warning signs for significant operating changes.

 

 

 

 

 

 

 

 

 

 

 

 

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Descartes Systems Group acquires BestTramsport.com for $11.2 million

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BestTransport has been connecting shippers and carriers to streamline transportation processes for more than 15 years. (Courtesy: DESCARTES)

WATERLOO, Ontario — Descartes Systems Group, a global company that unites logistics-intensive businesses in commerce, said it had acquired BestTransport.com Inc. (BestTransport), a cloud-based transportation management system (TMS) provider focused on flatbed-intensive manufacturers and distributors.

BestTransport has been connecting shippers and carriers to streamline transportation processes for more than 15 years.

Shipper and carrier customers leverage BestTransport’s platform to more efficiently manage numerous shipments each year across North America and Europe, according to Andrew Roszko, executive vice president of global sales at Descartes, adding that the company offers a full TMS suite of solutions from contract rate management through to load building, shipment execution and freight payment, with extensive capabilities for flatbed transportation moves.

“Moving goods in the flatbed market requires domain expertise and special equipment, and the associated transportation management processes have some unique characteristics,” Roszko said. “BestTransport has built a great business by creating a platform that addresses these unique characteristics with solutions available for both shippers and carriers.”

“BestTransport, like Descartes, sees the value in creating a common platform for multiple constituents to collaborate and manage the lifecycle of shipments,” said Edward J. Ryan, Descartes’ CEO. “By combining BestTransport’s platform with our Global Logistics Network, we can offer additional solutions to the community, such as Descartes MacroPoint Visibility and Capacity Matching. We welcome the BestTransport team of domain experts and community of customers to Descartes.”

BestTransport is headquartered in Columbus, Ohio. Descartes acquired BestTransport for $11.2 million, net of working capital, satisfied from Descartes’ existing line of credit.

 

 

 

 

 

 

 

 

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ATA Freight Forecast projects 25.6% increase in tonnage by 2030

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ARLINGTON, Va. — The American Trucking Associations Wednesday released its latest ATA Freight Transportation Forecast: 2019 to 2030, an annual projection of the state of the freight economy, showing continued growth in the industry.

“America’s trucking industry, and the overall freight transportation industry, are poised to experience strong growth over the next decade as the country’s economy and population grow,” said ATA Chief Economist Bob Costello. “Our annual Freight Forecast is a valuable look at where we are headed so leaders in business and government can make important decisions about investments and policy.”

Among the findings in this year’s Freight Forecast:

  • Overall freight tonnage will grow to 20.6 billion tons in 2030, up 25.6% from 2019’s projection of 16.4 billion tons.
  • Freight industry revenues will increase 53.8% to $1.601 trillion over the next decade.
  • Trucking’s share of total freight tonnage will dip to 68.8% in 2030 from 71.1% this year, even as tonnage grows to 14.2 billion tons in 2030 from 11.7 billion tons.
  • Truckload volume will have an average annual expansion of 1.5% a year through 2024 and 2.1% for 2025-2029.
  • Less than truckload volume will have an average annual expansion of 1.8% through 2024 and 2% for 2025-2020.
  • Private carrier volume will have an average annual expansion of 1.5% percent year through 2024 and 2.2% per year for 2025-2029.
  • In 2019, truckload will handle 71.1% of truck freight volume, LTL 0.9% and private truck 35.1%
  • Trucking and total rail transportation will lose relative market share, even as revenues and tonnage grows, while intermodal rail, air and domestic waterborne transportation will show modest growth and pipeline transportation will experience explosive growth – surging 17.1% in tonnage and 8.6% in revenue over the next decade.

As with any industry, forecasts are in part based on what’s happening with the U.S. economy.

The executive summary of the Freight Forecast notes that the forecast is being released when the U.S.  economy is experiencing some volatility as uncertainties mount.

“Despite prospects for solid trend-like growth in the U.S. in 2019, investor concerns over rising risks of a downturn after 2019, stoked by developments abroad and policy concerns, resulted in sharply worsening financial conditions in late 2018.

“Helped by a dovish pivot in Federal Reserve Board monetary policy, a recovery in financial conditions is now supporting Gross Domestic Product (GDP) growth above trend. The second estimate of first-quarter 2019 U.S. GDP growth was 3.1%, up from 2.2% in the fourth quarter of 2018 and in line with the strong 2.9% economic growth for 2018. The healthy economy in 2018 resulted in a very strong freight market for the year.

“The robust first-quarter pace of 2019 economic growth is expected to be temporary, as it was driven by two sources of strength that could easily reverse later this year: inventory investment and net exports. Both components are volatile and rarely indicative of underlying momentum in the economy.

“Real 2019 GDP growth is expected to moderate beginning in the second quarter, and we look for a 2.7% increase for calendar year 2019. We predict annual real GDP growth will slow further to 2.1% in 2020 and 1.8% in 2021, with implications for slower growth in freight transportation demand.

“Freight Forecast clearly lays out why meeting challenges like infrastructure and workforce development are so critical to our industry’s success,” said ATA President and CEO Chris Spear. “It belongs on the desk of every decision maker in our industry and in the supply chain.”

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