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COLUMBUS, Ind. — Preliminary used Class 8 volumes (same dealer sales) fell 8% month-over-month in June, the third consecutive sequential drop, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Additionally, the report indicated that longer-term comparisons yielded a 25% decline compared to June 2018, as well as a year-to-date drop of 18%. Other data released in ACT’s preliminary report included year-over-year comparisons for June 2019, which showed that average prices rose 5%, while average miles shed 1%, and average age was unchanged from the prior year. “At the risk of sounding like a broken record, the used truck market continues to slow, despite some segments having not yet experienced any meaningful signs of deceleration, said Steve Tam, ACT Research vice president. “ACT has reported that the U.S. has entered a freight recession, two consecutive quarters of contraction. Despite six months of declining freight, most carriers are just now coming to grips with the reality of their markets and thus, it is not surprising that dealers’ experiences range from little to no impact on sales to significant drops in volume and pricing.” ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). ACT Research is a publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasting services for the North American and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. More information can be found at www.actresearch.net.  

ST. LOUIS — June’s Cass Information System’s June report begins with a statement of fact and two follow up questions. The statement: Dropping another -5.3 in June, negative volume seven months in a row. Questions: Has economic contraction already begun? Will GDP be native in Q2? “When the December 2018 Cass Shipments Index was negative for the first time in 24 months, we dismissed the decline as reflective of a tough comparison,” wrote the report’s author, Donald Broughton, founder and managing partner of Broughton Capital, a deep-data driven quantimental economic and equity research firm. “When January 2019 was also negative, we again made rationalizations. When February was -2.1%, we said, ‘While we are still not ready to turn completely negative in our outlook, we do think it is prudent to become more alert to each additional incoming data point on freight flow volume.’ When March was -1.0%, we warned that we were preparing to ‘change tack’ in our outlook, and when April was -3.2%, we said, ‘we see material and growing downside risk to the economic outlook.’” With the -5.3% drop in June following the -6.0% drop in May, Broughton said Cass was repeating its message from last month: the shipments index has gone from “warning of a potential slowdown” to “signaling an economic contraction.” “We acknowledge that all of these negative percentages are against extremely tough comparisons; and the Cass Shipments Index has gone negative before without being followed by a negative GDP,” Broughton said. “May and June’s drops are significant enough to pose the question, ‘Will the Q2 ’19 GDP be negative?’” The report said the weakness in spot market pricing for many transportation services, especially trucking, is consistent with the negative Cass Shipments Index and, along with air freight and railroad volume data, strengthens Cass’ concerns about the economy and the risk of ongoing trade policy disputes. Weakness in commodity prices and the decline in interest rates have joined the chorus of signals calling for an economic contraction, Cass said. “We should note that the Cass Freight Index was one of the first freight flow indicators to turn positive (in October 2016) and confirm our prediction of a recovery in the U.S. economy,” Broughton wrote. “As we try to navigate the ebb and flow of the economy, we don’t pretend to have any ‘secret sauce’ or incredibly complex models that have exhaustively analyzed every data point available. Instead, we place our trust in the simple notion that the movement of tangible goods is the heartbeat of the economy, and that tracking the volume and velocity of those goods has proven to be one of the most reliable methods of predicting change because of the adequate amount of forewarning that exists.” Beyond current concerns that the index is negative on a year-over-year basis for the seventh month in a row, Broughton said Cass is concerned about the severe declines in international air freight volumes (especially in Asia) and the ongoing swoon in railroad volumes, especially in auto and building materials. ”We see the weakness in spot market pricing for transportation services, especially in trucking, as consistent with and a confirmation of the negative trend in the Cass Shipments Index,” he said. adding that as volumes of chemical shipments have lost momentum, Cass’ concerns of the global slowdown spreading to the U.S., and the trade dispute reaching a ‘point of no return’ from an economic perspective, grow. “Bottom line, more and more data are indicating that this is the beginning of an economic contraction,” Broughton said. “If a contraction occurs, then the Cass Shipments Index will have been one of the first early indicators once again.”

NEW BRIGHTON, Minn. — New Brighton-based LME trucking abruptly closed 30 delivery terminals in several states Thursday, leaving hundreds of workers without a job and a paycheck. “Effective immediately LME will no longer be accepting any pickups,” read a notice posted on the company’s website Friday. Later Friday, an additional noticed was posted. It read “We apologize for the inconvenience of the situation, but effective July 12, 2019, LME Inc. will no longer be making pickups or deliveries of freight due to unforeseen circumstances and have ceased operations. Our plan is to utilize an alternate carrier to assist in getting all freight delivered and some staff are remaining to help with that. Freight handled by the alternative carrier will be billed by the alternative carrier but with your LME rates applied to the invoice. There will be some delays in the transits of these moves and they may be significantly delayed in some remote locations.” Then Sunday, in a likely response the employees wanting to know when they would be paid for work prior to the shutdown, LME posted yet another notice, reading “Unfortunately, our lender is in control of all finances. The lender must be paid all monies owed to the lender first before payment can be made to the employees. This process will take at least 90 days if not longer. Updates will be provided over time. According to the Federal Motor Carrier Safety Administration, LME operates 382 power units and employed 424 drivers. LME trucker Tom Mason told the Minneapolis StarTribune that he was told late Thursday to turn around his truck and go home after he had driven to LME’s Sioux Falls terminal to pick up a delivery, and the next day came more bad news. His weekly paycheck of $830 was not automatically deposited into his bank account as it was supposed to be. Mason said LME owes him close to $3,000 for regular and overtime work done during the past three weeks. “I feel sick to my stomach. How am I going to make my rent?” Mason said in an interview with the Minneapolis newspaper. “My brother, who is a dock worker, is owed about $2,400. LME should have learned their lesson after they pulled this … two years ago.” Mason was referring to a case involving Lakeville Motor Express, which was ordered to pay a $1.25 million settlement to nearly 90 union workers in Minnesota who were abruptly locked out of work and laid off in November 2016 from Lakeville Motor Express in Roseville. Should any of the new monthly payments to affected workers be missed, the penalty will double what LME must pay workers to $2.4 million, according to the agreement LME signed with the National Labor Relations Board. Payments to those affected employees had just begun with LME shut down. In the 2016 case, affected workers had filed complaints that Lakeville Motor Express only pretended to close. They said it essentially continued to operate as LME, but with cheaper, nonunion labor. The state of Minnesota and the National Labor Relations Board ruled against the trucking firm, which operates in about five Midwestern states with roughly 600 workers. Kansas City television station KSHB reported more than 60 of the LME employees worked at the Kansas City terminal. That included Scott Evans, who has been driving trucks for the company for eight years and who was told late Thursday to turn his truck around and go back to the Kansas City terminal. When he pulled in, he was told the company was closing. “The first thing that comes to my mind … how am I going to feed my family?” Evans told the television station. “It’s almost like they didn’t care.” Christian Dawson had been working six days a week for LME. “I was in the middle of working,” he said. “I have a baby on the way, due at any time. We just moved into our apartment, and I have to pay rent. It’s inhumane is what it is.” Dawson is considered one of the “lucky” employees who managed to take home a paycheck at the end of the day Thursday. Employees told 41 Action News they are paid weekly but, due to the payroll system, are always two weeks behind. Many of the employees said they are owed three weeks’ worth of pay. “We’re all doing good and then all of the sudden, it was stopped,” Steve Cain, who had been with the company for eight years, said. “We hit a brick wall.” On its website, LME listed major accounts in the industrial, commercial and retail sectors included 3M, John Deere, Osram Sylvania, Brake Parts & Toro.  

COLUMBUS, Ind. — ACT Research has released the July installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK, covering the truckload, intermodal, LTL and last mile sectors with ACT maintaining its view that truckload and intermodal contract rates will fall this year because overcapacity and weak freight demand. “It’s a good news/bad news report this month,” said Tim Denoyer, ACT Research’s vice president and senior analyst. “The bad news is we’re in a freight recession and the factors we focus on tell us spot rates are headed still lower near-term, but that’s been going on for a while. The good news is that for the first time this cycle, we see evidence on the horizon for an eventual bottoming and upturn in spot truckload rates, thanks to low new truck orders and improving capital discipline from the trucking industry.” Denoyer said the Truckload Rate Gauge is currently signaling significant overcapacity, favoring shippers in rate negotiations. “But based on our expectation for a decline in U.S. Class 8 tractor build rates later in the year, the supply side should begin to improve,” he said. Denoyer said the Truckload Rate Gauge is ACT’s measure of industry supply/demand, balancing changes in the number of active trucks and the amount of available freight. “The current gauge gives us a good directional feel for spot today and contract in about six months, and the ‘six months out’ gauge tells us about spot in six months and contract in about a year,” he said.. The ACT Freight Forecast provides quarterly forecasts for the direction of volumes and contract rates through 2020 and annual forecasts through 2021 for the truckload, less-than-truckload and intermodal segments of the transportation industry. For the truckload spot market, the report provides forecasts for the next twelve months. For more information about ACT’s Freight Forecast, U.S. Rate and Volume OUTLOOK, please click here. ACT Research is a publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasting services for the North American and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, transportation and logistics companies, as well as banking and investment companies. More information can be found at www.actresearch.net.              

According to ACT Research’s latest release of the North American Commercial Vehicle OUTLOOK, current Class 8 build rates may suggest upside to the 2019 forecast, but large new inventories and deteriorating freight and rate conditions suggest erring on the side of caution remains the right call. The statement was given an exclamation point Wednesday with the release of Wards Intelligence’s month report on Class 8 sales in the United States. According to Wards Class 8 sales in June were down 3.8% from May, the first month-over-month decline since February, albeit the fact that the months increased from March through May had steadily declined from 15% in March to 1.7% in May. The 22.5% increase year-over-year for June was the lowest the first six months of the year. Wards said 23,500 Class 8 trucks were sold in June compared with 24,424 in May 2019 and 21,251 in June 2018.The best month-over-month increase in June was International at 8.9%. Mack was second at 4%. On the other end of the spectrum, Volvo sales dropped 23.8 percent from May to June and Western Star was down 20.9% International also has the best year-to-date gain at 36.6%, Freightliner is second at 29%. “Current Class 8 market activity is rapidly approaching the precipice, and everyone should be preparing for a rapid downward correction in production levels in the next handful of months,” said Kenny Vieth, ACT’s president and senior analyst. “Current data and anecdotes make a strong case that the call for a Q3’19 inflection point expectation remains intact.” Regarding heavy vehicle demand, Vieth noted, “At the heart of our cycle duration prediction, carrier profitability and production peaks always lag the freight cycle, so capacity building always accelerates relative to freight growth at exactly the wrong time.” He added, “Excluding the prebuy and housing bubble impacted 2004-2006 cycle, peak-of-cycle build rates have historically lasted around 5 quarters. For this Class 8 cycle, we date peak build rates to June 2018, so we are just now entering quarter five.”                    

WASHINGTON — The Bureau of Transportation Statistics’ Freight Transportation Services Index (TSI), which is based on the amount of freight carried by the for-hire transportation industry, fell 0.7% in May from April, falling for the second consecutive month. From May 2018 to May 2019, the index declined 0.2% compared to a rise of 8.6% for the previous year. The level of for-hire freight shipments in May measured by the Freight TSI (135.4) was 2.4% below the all-time high level of 138.7 in November 2018. BTS’ TSI records begin in 2000. See historical TSI data. The Freight TSI measures the month-to-month changes in for-hire freight shipments by mode of transportation in tons and ton-miles, which are combined into one index. The index measures the output of the for-hire freight transportation industry and consists of data from for-hire trucking, rail, inland waterways, pipelines and air freight. The TSI is seasonally-adjusted to remove regular seasons from month-to-month comparisons. The BTS said the May decline in the Freight TSI was driven by decreases in rail carloads, rail intermodal, trucking and water, while air freight and pipeline increased. The TSI decline took place against a background of growth for other indicators. The Federal Reserve Board Industrial Production index increased by 0.4% in May, with growth in all sectors. Personal income increased by 0.5%, while housing starts grew by 0.3%. The Institute for Supply Management Manufacturing index declined from 52.8 in April to 52.1 in May, indicating continued but decelerating growth. With the decline of 0.7% in May, the index fell for the second consecutive month, the third time in four months and the fourth time in six months for a total drop of 2.4% since peaking in November 2018. The November high followed an increase of 6.5% in the 10 months since January 2018, and of 14.1% percent in the 27 months since September 2016. The index is down 0.2% from May 2018 but up 8.4% from May 2017 and up 11.3% from May 2016. The May index was 42.8% above the April 2009 low during the most recent recession. For additional historical data, go to TSI data.      

PORTLAND, Ore. — National average spot van and refrigerated freight rates shot higher last week as shippers looked for carriers to move freight during a holiday-shortened week, said DAT Solutions, which operates the industry’s largest network of load boards. Load-posting volume on the DAT network fell 45% compared to the previous week as many businesses reduced their schedules due to the Fourth of July holiday. National average spot rates through July 6 included: Van: $1.91/mile, 2 cents higher than the June average and 12 cents higher than May Reefer: $2.28/mile, 4 cents higher than June Flatbed: $2.30/mile, unchanged from June Van trends The van load-to-truck ratio fell from 3.2 to 2.0, more than a point below the June average of 3.1 loads posted for every truck. Still, spot rates were higher on 52 of the top 100 van lanes. Chicago and Columbus, Ohio, were two major markets in the Midwest that improved: Chicago: $2.20/mile, up 4 cents Columbus, Ohio: $2.22/mile, up 5 cents The average outbound rate from Houston was down 3 cents to $1.76/mile, continuing a trend of weaker outbound rates, likely because of a slowing oil market in Texas. One bright spot: Dallas to Houston increased 14 cents to $2.51/mile. Reefer trends The holiday helped send the national average reefer load-to-truck ratio from 5.5 to 3.5. Of DAT’s top 72 reefer lanes by volume, rates were higher on 46 and declined on 23. Three lanes were neutral. Rates rose on higher volumes rose in California’s four major reefer markets: Fresno, California: $2.52/mile, up 3 cents Los Angeles: $3.06/mile, up 9 cents Ontario, California: $2.80/mile, up 5 cents Sacramento, California: $2.83/mile, up 6 cents There was more good news in the Midwest as the average outbound rate from Grand Rapids, Michigan, increased 17 cents to $2.73/mile. Grand Rapids to Cleveland surged 44 cents to $3.87/mile and Grand Rapids-Atlanta gained 32 cents to $2.23/mile. It’s too early for Michigan apples, but asparagus, blackberries, peaches, potatoes and strawberries appear ready to move. DAT Trendlines is a weekly snapshot of month-to-date national average rates from DAT RateView, which provides real-time reports on spot market and contract rates, as well as historical rate and capacity trends. The RateView database is comprised of more than $60 billion in freight payments. DAT load boards average 1.2 million load posts searched per business day.      

FRANKLIN, Tenn. — QuikQ, an independent full-service fuel payment solutions provider founded in 2008, said strategic investments had been made by truck stop and truck maintenance industry providers Love’s Travel Stops and TravelCenters of America. With the financial backing of Love’s and TA, QuikQ is strategically poised for continued growth and expansion in the fuel payments marketplace, where the Tennessee-based company has a nationwide network of more than 3,400 chain and independent merchant locations to serve its customers, according to QuikQ CEO Dean Troester. The network is further solidified through long-term agreements QuikQ has with all of the country’s largest truck stop operators, he said. QuikQ will continue to operate as an independent company, focused on saving customers time and money. Investments by Love’s and TA enable QuikQ to grow its streamlined approach to building more direct, transparent relationships between merchants and carriers and their payment solutions provider. “QuikQ offers high-quality products designed to compete in the fuel payments industry,” said Troester, a 36-year trucking industry veteran who joined the QuikQ team in that capacity in early 2017. “With Love’s and TA as investors, QuikQ brings immediate competition in the fuel payments marketplace while minimizing costs for our merchant and trucking company customers.” In addition to QuikQ’s own fuel payment card, the company’s technology also supports other universally-accepted co-branded and private label cards, including cards for Love’s and TA. The long-term success and growth of these platforms provides QuikQ proven experience to better serve the trucking industry. “QuikQ has been the successful, cost-effective backbone of our Love’s Express payment platform for many years. A large segment of our customers have benefited from the convenience and savings QuikQ’s technology provides, and QuikQ can deliver the same advantages across the trucking industry,” said Frank Love, co-CEO of Love’s and Speedco. “QuikQ offers trucking companies another choice.” “With the financial support of two of the truck stop industry’s largest players and nationwide merchant acceptance of its products, QuikQ is positioned to add competition to the fuel payment industry, improve customer service, and reduce fees to merchants and fleets,” said Andy Rebholz, CEO of TA. “Competition is needed, and QuikQ is positioned to positively impact merchants and trucking companies alike.” Troester said QuikQ offers a full suite of payment products, including a fuel payment card; SmartQ, an RFID based card-less system; and Start Code, a card-less payment solution. QuikQ’s fuel payment solutions increase accountability, efficiency and convenience for professional truck drivers. For fleets and drivers, QuikQ offers Q-Checks, cash advances, payroll cards, a mobile app and more, all designed to better manage transportation-related fuel payment costs. QuikQ’s technology is integrated with the major transportation management systems. For merchants and other parties, QuikQ also offers its RFID hardware and technology, along with private label and co-branded cards.    

LEBANON, Pa. — Penn Motor Express said Monday that the administrative positions at its Lebanon, Pennsylvania, headquarters will be consolidated with the YRC Worldwide Field Resource Center in Overland Park, Kansas. This move relates only to the administrative personnel at the New Penn headquarters. All New Penn service centers in Pennsylvania and throughout the network are unaffected by this announcement and continue to serve our customers on a business as usual basis, a company official said. “Consolidating the New Penn administrative headquarters functions with existing enterprise teams enables us to leverage best-in-class practices across the YRC Worldwide enterprise. Ultimately, this allows us to focus our resources on services that directly impact New Penn customers while reducing enterprise-wide costs with duplicative administrative roles,” said Howard Moshier, president of New Penn. “This consolidation is solely focused on the administrative positions at the Lebanon, Pennsylvania headquarters. New Penn service centers are unaffected by this move. For more information, visit www.newpenn.com.      

WASHINGTON — The average on-highway price of a gallon of diesel increased 1.3 cents to $3.055 for the week ending July 8, according to the Energy Information Administration of the Department of Energy. The increased followed six consecutive weeks of declines. Regionally, it was a mixed bag. The largest increase was in Midwest region (North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Missouri, Iowa, Minnesota, Michigan, Illinois, Indiana, Ohio, Kentucky and Tennessee) where the average price went up 4.4 cents a gallon to $2.968. The largest decrease was in the Rocky Mountain states (Utah, Idaho, Montana, Wyoming and Colorado) where the price dropped 1.8 cents a gallon to $2.98. The highest average was California at $3.953, the lowest was in the Gulf Coast states (New Mexico, Texas, Louisiana, Arkansas, Mississippi and Alabama) at $2.804. The price for the week ending July 8 was 18.8 cents a gallon less than the comparable week in 2018. For a complete list of prices for the past three weeks by region click here.   

The two organizations that collect, analyze and report data on new truck sales both report June Class 8 orders in the 13,000 range, considerably below the same month in 2018. ACT Research said preliminary North America Class 8 net order data show the industry booked 13,100 units in June, gaining 20% from May’s three-year low, but down a significant 69% from year-ago June’s very tough comparison. FTR reports preliminary North American Class 8 orders for June at 13,000 units, up 24% from May, but continuing to track well below 20,000 units. Including June activity, this is the weakest six-month start to a year since 2010.  Most orders for 2019 delivery have already been placed. Fleets are moving around previously placed orders and adjusting delivery times according to business conditions and smaller fleets and dealers are placing small fill-in orders, as production slots become available in the near term.  Backlogs should fall under 200,000 units for first time since May 2018. Class 8 orders for the past 12 months now total 331,000 units. “Weak freight market and rate conditions across North America and a still-large Class 8 backlog continue to bedevil new Class 8 orders,” said Kenny Vieth, ACT’s president and senior analyst. “Seasonal adjustment lifts June’s Class 8 net orders to 15,100 units, and through the first half of 2019, Class 8 net orders were booked at a 181,000 seasonally adjusted annual rate.” Don Ake, FTR vice president of commercial vehicles, said “The orders are truly a mixed bag. One OEM reportedly started to take orders for 2020, but the other OEMs apparently did not. Without the 2020 orders, the total would have dipped below the 10,000-unit mark. Most OEMs are reluctant to quote future trucks due to uncertainty over material costs. Until the tariff situation is resolved, it is risky to quote prices for 2020. Fleets are also reluctant to accept material surcharges with this much ambiguity present.” The economy and freight are still growing, but the latest manufacturing data is not promising, Ake said. “The consumer sector is sturdy, but freight growth is expected to moderate the rest of the year. As a result, Class 8 truck build rates should begin to decrease in the coming months,” he said.        

KNOXVILLE, Tenn. — St. Christopher Truckers Development and Relief (SCF) is teaming with Life From the Passenger’s Seat’s Melanie Walker and Scott Wagner for two events at the 2019 Great American Truck Show in Dallas August 22-24. Both Walker and Wagner have been giving back to the trucking community for years with auctions and fundraisers, but after meeting Shannon Currier, SCF director of philanthropy and development last year, they decided to focus their future efforts on the St. Christopher Fund.  Scott is a driver for Spartan Direct and his fiancé Melanie rides with him, sharing photos, travel and weather information and encouragement to the trucking community, Currier said. Last year at GATS, Walker and Wagner, along with a team of volunteers and GATS parking lot organizer Les Willis, raised $17,000 through silent and live auctions to support drivers out of work because of injury or illness, breaking any previous fundraising efforts. An after-show surprise saw Heartland Express match the live auction amount of $16,038. “Since this is the 20th anniversary of GATS, Scott and Melanie wanted to pull out all the stops and do something that has never been done and have a truck show within a truck show,” Currier said. With the support and approval of the GATS team, the American Pride Truck Charity Event to benefit SCF was born, and will take place this year in the TA/Petro free truck parking lot. “We are so excited to team with Scott and Melanie again to increase awareness of SCF as well as raise support for drivers out of work because of injury or illness, and we thank the GATS team for allowing us to do something new and different for the drivers,” Currier said. There are four categories for the event, including company driver, owner-operators, “Dressed To Impress” and “Light ’Em Up.” Registration fee for each category entered is $5 and 100% of the registration fee is donated to SCF. Corporate sponsor support each category includes RoadPro Family of Brands, National Truckin’ Magazine, 4 State Trucks and Boogey Lights. There will also be a peer choice category sponsored by James Rogers, owner and CEO of Spartan Direct, where all show participants get to vote for their favorite truck. Registration for the event will be available onsite, but everyone is encouraged to register online here. The first 100 participants will receive a commemorative dash plaque.  First, second and third place trophies will be awarded for each of the 4 categories and a single winner will be announced for the peer choice category. “We are so excited to be a part of both of these events organized by Scott and Melanie and we are honored to have such great support from the drivers,” Currier said. Questions about the auction and American Pride Truck Charity Event can be directed to Melanie Walker at 636.725.3885. St. Christopher Fund will be in the Health Pavilion at GATS in booth 4040. Participants can register for GATS here. St. Christopher Truckers Development and Relief Fund, headquartered in Knoxville, Tenn., is a 501(c)(3), nonprofit organization that provides assistance to over-the-road semi-truck drivers and their families when an illness or injury has caused the driver to be out of work and suffer financial hardship. Assistance may be in the form of direct payment for mortgage/rent, utilities, vehicle payments and insurance. The SCF also provides programs to benefit professional drivers and the trucking industry. For more information, please visit www.truckersfund.org or call (865) 202-9428. Life From the Passenger’s Seat is a Facebook page run by Melanie Walker where she shares photos, insight, traffic and weather information and encouragement to the trucking community.      

TOLEDO, Ohio — Premium Transportation Logistics’ (PTL) senior management team of current President Jeff Curry, longtime PTL Operations Manager Keith Avery and expedited transportation sales veteran Brad Kelley said they have acquired PTL from Magnate Worldwide. PTL will continue to serve the ground expedite market in North America. “PTL is excited to take the next step in its growth while continuing to provide the high service levels that our customers demand,” Curry said. “PTL is a great company with a great future. We look forward to continuing the partnership, in its new form, and utilizing PTL for our expedited service needs,” said Dante Fornari, CEO of Magnate Worldwide. Fornari said the business will benefit from the senior management team’s combined experience of 75-plus years of experience. Curry is a veteran of both the finance and transportation industries serving previously as president of Express-1, a top-100 motor carrier sold to XPO Logistics in 2011, where he oversaw three locations with 120 employees and 700 independent contractors and managed over $100M in revenue. Avery and Kelley have decades of experience in expedited trucking as well. Avery is the former vice president of Express-1 and current manager of operations at PTL. Kelley will join PTL to continue to increase the company’s sales efforts as PTL expands its geographic footprint. PTL will also have an advisory board that includes former Express-1 CEO Mike Welch, former COO of PTL Welch and former CFO of XPO Logistics John Welch. The advisory board will help guide leadership on strategic decision making during the next phase of the company’s lifecycle. Founded in 2002, Premium Transportation Logistics provides premier ground transportation and logistics services to the entire North American market. For more information, visit www.shipPTL.com.    

NEW RIVER VALLEY, Va. — The Volvo Group Friday said it would invest nearly $400 million over six years to upgrade the New River Valley plant that produces all Volvo trucks sold in North America. The upgrades include expansion of the industrial footprint and installation of a variety of state-of-the-art equipment that will improve plant efficiency and deliver even higher product quality for customers. “The outstanding product line currently produced at NRV has strongly positioned Volvo Trucks for the future,” said Peter Voorhoeve, president of Volvo Trucks North America.  “This investment is another sign of our confidence in that future and will help us prepare for even more exciting products — powered by both diesel and electric drivetrains — in the coming years.” Virginia Gov. Ralph Northam joined company and local officials to reveal the expansion, which will be eligible for a Virginia Major Employment and Investment grant of up to $16.5 million and other incentives. Virginia’s Pulaski County will support the project by granting Volvo 222 acres of adjacent property to expand the campus, and providing $500,000 toward site improvements.  In addition to its financial investment, Volvo announced plans to create 777 new jobs at the facility over the next six years. Major components of the investment include a new 350,000-square-foot building that will ultimately house truck cab welding operations; an expansion of the existing plant to allow for further improvements to the facility’s paint operations and overall material/production flow; and a variety of  equipment upgrades, including installation of several state-of-the-art dynamometers for vehicle testing. “This investment will give our employees the tools they need to continue providing our customers the highest quality products,” said Franky Marchand, vice president and general manager of the NRV plant.  “We’re very grateful to the Commonwealth of Virginia, Pulaski County and the citizens in this community for their continued support of our business and our people.  Creating more value-added processes through these investments is good for our employees, our plant and our region.”

GREEN BAY, Wis. —  In June, Schneider, a provider of truckload, intermodal and logistics services, began offering intermodal services at the CSX Indianapolis ramp. This new intermodal ramp service provides shippers in the central/southern Indiana, Louisville, Kentucky and Cincinnati markets with a more cost-competitive transportation option to eastern markets, according to Jim Filter, senior vice president and general manager of Schneider’s Intermodal division . Eastbound freight will travel from Indianapolis to North Bergen, New Jersey, and Worcester, Massachusetts. Each lane operates six days per week and offers eastbound two- to three-day transit times, competitive with truckload transit time. Inbound freight will travel from North Bergen, New Jersey, to Indianapolis. “Customers are excited to experience our expanding intermodal service with CSX through its Indianapolis ramp,” Filter said. “This is a new option for shippers to reliably move loads at transit times competitive to truckload. We’re also confident this will provide cost-competitive intermodal service to the region, as eastbound freight will not have to be drayed to Chicago.” With the addition of the Indianapolis ramp, Schneider now offers intermodal service to more than 40 ramps throughout North America. Shippers interested in learning more about how the new intermodal service in Indianapolis can impact their business can call 844-701-LOAD or visit https://schneider.com/our-services/intermodal-transportation . A $5 billion company, Schneider has been in business for over 80 years. For more information about Schneider, visit www.schneider.com or follow on Twitter: @WeAreSchneider.          

TYSONS, Va. — May’s Class 8 market was basically the opposite of April, with pricing down and volume up in both the auction and retail channels. So says the J.D. Power Valuation Services Commercial Truck Guidelines published by the National Automobile Dealers Association. “What April bringeth, May taketh away,” the report begins. “Pricing of our benchmark model was back down after an unusual April with volume way up compared to recent months. May’s activity looked more logical than April’s given the market dynamics currently in effect. The report detailed Class 8 used truck sales for model years 2011-2016: Model year 2016: $36,500 average; $7,420 (17.0%) lower than April Model year 2015: $36,000 average; $8,380 (18.9%) lower than April Model year 2014: $28,750 average; $3,428 (10.7%) lower than April Model year 2013: $23,500 average; $1,300 (5.2%) lower than April Model year 2012: $18,750 average; $2,964 (13.7 %) lower than April Model year 2011: $17,765 average; $1,730 (10.8%) higher than April In the first 5 months of 2019, 4-6 year-old examples of the benchmark model brought 2.5% more money than in the same period of 2018, the review said, noting that the number of 4-6 year-old trucks sold was notably higher than any month since June 2018. Monthly depreciation for this cohort is now averaging 2.5%, in line with what experts were predicting. Low-mileage trucks are still bringing strong money, but the market is redefining “low mileage” downward. The review said May’s retail pricing was similar to April’s, with spec and model mix accounting for month-over-month variation. Market weakness in the auction channel did not carry over to the retail channel. The average sleeper tractor retailed in May was 69 months old, had 456,127 miles, and brought $57,613. Compared to April, the average sleeper was two months younger, had 12,103 (2.6%) fewer miles, and brought $815 (1.4%) more money. Compared to May 2018, this average sleeper was one month older, had 7,950 (1.8%) more miles, and brought $4,551 (8.6%) more money. Looking at trucks three to five years of age, May’s average pricing was as follows: Model year 2017: $93,430; $4,604 (5.2%) higher than April Model year 2016: $68,297; $1,939 (2.8%) lower than April Model year 2015: $57,137; $532 (1.5%) lower than April The high average for model year 2017 is due to a group of owner-operator spec trucks in the data. On an apples-to-apples basis, there was little change in value month-over-month. Year-over-year, late-model trucks sold in the first five months of 2019 brought 12.3% more money than in the same period of 2018. Depreciation in the first five months of 2019 averaged 1.3% per month, compared to 1.6% in the same period of 2018. Class 8 sales per dealership dropped to 3.9 in May, a 0.4 truck decrease compared to April, and the first time the average has dropped below 4.0 since January. Dealers are selling an average of 10.6% fewer trucks in 2019 compared to the same period of 2018. As for a forecast, the review said the second quarter is drawing to a close, and, as predicted, used truck pricing remained strong in the first half of the year. This month’s lower pricing should be indicative of what to expect in upcoming months, but in an economy heavily impacted by policy uncertainty, forecasting is more difficult than in more stable times. According to the review, the freight, financial, and manufacturing sectors are pointing to slowing growth, while the consumer sector remains strong. Unfortunately, the review said, the consumer sector is a trailing indicator while the others are leading. The bottom line is any notable decline in economic conditions will cause an equally notable influx of used trucks to enter the market.