Business Archives

Echo Global Logistics earns ‘Best and Brightest Company to Work For’ honor for 10th straight year

The Trucker News Staff - May 25, 2023

CHICAGO — Supply chain technology management company Echo Global Logistics Inc. has again been recognized as a great place to work by Chicago’s 2023 Best and Brightest Companies to Work For. According to a news release, the award program, hosted by the National Association for Business Resources, “honors companies that demonstrate a steadfast commitment to their employees, identifiable in their human resources practices.” This is the 10th time Echo has received the award. “Our workplace culture fosters success within our dedicated team and across our business,” said Doug Waggoner, chief executive officer at Echo. “Cutting-edge technology combined with collaboration from our talented employees allows Echo to provide exceptional transportation management services for our clients and carriers and thriving careers for our team members.” Paula Frey, chief human resources officer at Echo, said that Echo’s employees “drive our business and boost each other up with our wins.” “We’re proud to be recognized for the 10th time as a Best and Brightest company along with so many equally outstanding organizations,” Frey said. “I’m appreciative of all the Echo team members who work hard and carry the load together every day.”

For-Hire Trucking Index shows continued declines in April, ACT Research reports

The Trucker News Staff - May 25, 2023

COLUMBUS, Ind. – Freight volumes, rates and capacity continued their decline in April, according to the latest release of ACT’s For-Hire Trucking Index. The Trucking Volume Index weakened further in April, at 37.6 versus 44.6 in March, the ACT report notes. Destocking contributed to the softness, although the 24% year-over-year decline in container imports in Q1 likely represents the worst of the destocking. “A slowing in destocking would be a positive for volumes. Inflation, while showing tentative improvement, continues to impact consumer spending power, with retail sales in real terms down 3.6% year-over-year in April,” said Tim Denoyer, vice president and senior analyst at ACT Research. “The slow start produce season may also be a headwind.” The Pricing Index’s slide continues, falling 2.7 points to 33.4 in April from 36.1 in March. This is the second lowest reading in the index’s history, with only April 2020 being lower. Denoyer added, “We believe the cure for low prices is low prices, and since October 2022 the DOT has revoked a net 11,000 operating authorities. While the pricing pendulum remains with shippers for now, the next capacity rebalancing has begun. With capacity slowing and set to decline later this year, rate trends should begin to recover as soon as traction on freight volumes is established.” The Capacity Index ticked down by 0.8 points month-over-month to 51.8 in April, still growing, but at a slower rate than in 2022. Improvements in equipment production and drivers, due to improvements in the supply chain and drivers seeking safe harbor in larger fleets, helped grow capacity for the past 18 months. The Supply-Demand Balance loosened further in April, to 35.8 from 42.0 in March, largely due to the month-over-month decline in volumes, but the slight downtick in capacity also added to the looser reading. “April marked the fourteenth consecutive underwater point in the series,” Denoyer said. “For context, in the 2015-2016 downcycle, the Supply-Demand Balance was loose for 17 of 19 months. While conditions remain loose, the seeds have been sown for a rebalancing.”

Newest Sheetz location in Bloomington, Pennsylvania, to feature 25 free big rig parking spaces

The Trucker News Staff - May 24, 2023

ALTOONA, Pa. — Restaurant and convenience store chain Sheetz is holding a grand opening for a new location at 6 Wedgetown Road in Bloomington, Pennsylvania. The grand opening festivities will begin outside the store at 9 a.m. on Thursday, May 25, with multiple prizes awarded, including a grand prize giveaway of free Sheetz for a Year, according to a news release. The store’s official ribbon-cutting ceremony is set for 10:45 a.m. This new location, which opens to the public at 8 a.m., will also welcome customers by offering free self-serve coffee and soda for the entire grand opening day. The store will include four lanes that offer high flow diesel fuel and diesel exhaust fluid for semi-trucks, along with 12 fuel terminals for other vehicles. The store will also feature 26 free parking spaces, available for overnight parking to truckers. This new location, which will be Sheetz’s 36th store to offer truck diesel fuel lanes, is in close proximity to Interstate 80. “Deeply committed to the communities it serves and in honor of this grand opening, Sheetz will donate $2,500 to the Central Pennsylvania Food Bank,” according to the news release. “The nonprofit is committed to ending hunger in 27 counties across central Pennsylvania. By working with more than 1,100 local agencies and programs, they serve more than 144,000 people in need each month through their two Healthy Food Hubs, located in Harrisburg and Williamsport.” Customers attending the grand opening are encouraged to donate a non-perishable food item to the nonprofit. Those who donate will receive a Sheetz branded thermal bag, limit one per customer while supplies last from 9-11 a.m. A second donation of $2,500 will also be presented to the Special Olympics of Pennsylvania.

ATA’s Truck Tonnage Index notes 1.7% decrease in April

The Trucker News Staff - May 24, 2023

WASHINGTON — American Trucking Associations’ (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index fell 1.7% in April after decreasing 2.8% in March. In April, the index equaled 112.7 (2015=100) compared with 114.7 in March. “While the broader economy continues to surprise and thus far stave off an expected recession, the freight economy is starkly different,” said ATA Chief Economist Bob Costello. “The goods-portion of the economy is soft and as a result, even contract truck freight is now falling, albeit not nearly as much as the spot market. The tonnage index hit the lowest level since September 2021 in April and has now fallen on a year-over-year basis for two straight months.” March’s decline was revised up from our April 18 press release. Compared with April 2022, the SA index decreased 3.4%, which was the largest year-over-year decrease since February 2021. In March, the index was down 2.4% from a year earlier. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 109 in April, 9.5% below the March level (120.4). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight. ATA notes that “trucking serves as a barometer of the U.S. economy, representing 72.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods.” Trucks hauled 10.93 billion tons of freight in 2021. Motor carriers collected $875.5 billion, or 80.8% of total revenue earned by all transport modes. ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.

Eagle Transport Corporation acquires bulk carriers

The Trucker News Staff - May 23, 2023

ROCKY MOUNT, N.C. — Petroleum and chemical transportation company Eagle Transport Corporation has bought Dalton, Georgia-based Bulk Carriers Inc. Terms of the deal weren’t made available. According to a news release, “Eagle Transport has continued to scale its company footprint, services and operational capabilities in recent years through a combination of strategic acquisitions and organic growth initiatives. Eagle continues to grow and deliver customer-focused transportation solutions within the petroleum, chemical, and hazardous materials sectors.” Lance Collette, president and COO of Eagle Transport, said that “Bulk Carriers is a highly-respected leader in the dry bulk logistics market, with a long reputation of service and safety. We are excited to welcome their team into the Eagle family. This acquisition supports our strategy of providing an even greater level of service to our growing list of dry bulk clients.” Established in 1969, Rocky Mount, North Carolina-based Eagle Transport has more than 20 terminals across the southeast, along with 500 tractors, 650 trailers and 800 team members. Kevin Brown, president of Bulk Carriers, said his company is excited to move into what he called “the next phase of high-quality customer service as we merge with Eagle Transport Corporation.” “Like Bulk Carriers, Eagle Transportation Corporation shares the same passion for offering personalized customer service,” Brown said. “We are excited to join the Eagle team and continue to serve our customers for many years to come. We also thank our customers and suppliers for supporting a local-owned, small business and allowing us to serve and grow with you. We also extend a heartfelt and personal thanks to our dedicated drivers, maintenance crew, and office staff. Without those valued people, our success would not have been possible.” Bulk Carriers, established in 1998, operates 22 tractors, 34 trailers and employs 18 team members.

Progressive introduces roadside assistance for large trucks

The Trucker News Staff - May 22, 2023

MAYFIELD VILLAGE, Ohio — Roadside assistance for big rigs is now available through Progressive Insurance. According to a news release, the Heavy Truck Roadside Assistance (HT RSA) will be an option available on all of its commercial insurance policies. The company says the offering is “a direct response to market research on preferred truck coverage needs HT RSA helps cover the cost of towing and labor at the site of disablement. In collaboration with TTN Fleet Solutions, which operates an extensive network of heavy-duty service providers, Progressive can now offer roadside assistance coverage in most policy states to commercial auto customers with heavy vehicles, including tractor-trailers, dump trucks, straight trucks and more.” To obtain the new service, covered customers should call Progressive’s roadside number to connect with TTN Fleet Solutions, which will dispatch a service provider to the site of disablement. “Heavy Truck Roadside Assistance offers peace of mind on the road and efficiently connects covered customers with a qualified service provider that specializes in handling heavy vehicle breakdowns,” said Peter Niro, Truck Product Development Manager at Progressive Insurance. “We are bringing this top-requested offering to market to help customers overcome challenges on the road in a time of need and get them back on the road as soon as possible.” Heavy Truck Roadside Assistance can be used throughout the United States and in 10 Canadian provinces, regardless of the policy state, and the coverage is available to local, regional and long-haul truckers. The new service covers: Up to $500 in labor at the site of disablement and up to $5,000 in towing to the nearest qualified repair facility for the insured vehicle and attached trailer ($250 deductible applies at time of service). Insured vehicle and the attached trailer. Mechanical or electrical breakdown, battery failure, flat tire, lock-out, insufficient fuel/fluid, or entrapment in snow, mud, water or sand within 100 feet of a road. Up to three roadside incidents per insured vehicle per six-month period. For more information on Heavy Truck Roadside Assistance, visit click here.

Lawmakers introduce bipartisan bill to strengthen truck driver apprenticeship program

The Trucker News Staff - May 22, 2023

WASHINGTON — Arkansas Republican Rep. Rick Crawford and Democratic Texas Rep. Henry Cuellar have introduced new legislation to help attract more truck drivers to the industry. And already the American Trucking Associations (ATA) and International Foodservice Distributors Association (IFDA) are lauding the new measure, which has been dubbed the DRIVE Safey Integrity Act. The bill builds on the DRIVE Safe Act over the last few Congresses and the inclusion of the Safe Driver Apprenticeship Pilot Program in the Bipartisan Infrastructure Law (BIL) “Building a 21st century supply chain requires a strong, vibrant and growing trucking workforce,” said ATA President and CEO Chris Spear. “The DRIVE Safe Integrity Act will bolster new career pathways into interstate trucking while promoting safety and training standards that far exceed the bar set by states today. This legislation offers a timely and essential trucking workforce and supply chain solution, built off years of broad bipartisan Congressional support.” Mark S. Allen, president and CEO of IFDA, said that the last three years “have proven just how important truck drivers are to the American economy and way of life, and how urgently we need to develop a pipeline of qualified, well-trained professional drivers to meet our nation’s growing freight needs. Strengthening the ability of younger drivers to receive rigorous training and safely enter the trucking workforce will help fill this pipeline, and we thank Representatives Crawford and Cuellar for their bipartisan leadership in addressing this issue.” According to the ATA, the trucking industry is currently facing a shortage of more than 78,000 truck drivers coupled with a need to hire 1.2 million new drivers over the next decade to meet increasing freight demands. “U.S. Department of Transportation regulations bar a vital population of job seekers from interstate trucking, exacerbating the driver shortage as qualified candidates are lost to other industries,” an ATA news release stated. “In 49 states plus the District of Columbia, 18-20-year-olds are permitted to obtain a CDL and drive heavy-duty commercial vehicles in intrastate commerce, but federal rules have long prohibited those same drivers from driving in interstate commerce.” To address this issue, the BIL law enacted in 2021 included a nationwide pilot program modeled after the DRIVE Safe Act to create a pathway for young drivers to operate interstate with rigorous safety and training guardrails in place. The Save Driver Apprenticeship Pilot Program (SDAP) was capped at 3,000 participating drivers at any one time; however, fewer than a dozen driver participants have enrolled. “This failure is partly due to extraneous USDOT requirements for program participation that were not included in the Bipartisan Infrastructure Law,” the ATA noted. ATA officials also said that the DRIVE Safe Integrity Act would help get the pilot program back on track by urging DOT to take corrective actions that would improve participation in the SDAP and requiring DOT to provide Congress detailed reports on SDAP’s status and corrective actions taken to improve participation. “By directing DOT to steer the SDAP back to the course Congress originally intended and providing a path forward for participants to safely enter the workforce, this bill will ensure our industry has the talent it needs to meet the economy’s freight demands in the years to come,” Spear said. “We thank Representatives Crawford and Cuellar for their outstanding leadership.” Upon the sunset of the pilot program, the bill would direct DOT to review the safety data and issue regulations for a permanent apprenticeship program for commercial drivers between the ages of 18-20.

Freight brokers can protect themselves from fraud with key steps

The Trucker News Staff - May 19, 2023

BOISE, Idaho — Fraud is everywhere. From credit card scams to shady deals in the freight market, it’s important to protect yourself and your business from thieves. According to a new report from Truckstop, there has been an increasing number of scammers falsely identifying themselves to access freight or intercept loads and sell off cargo. And while the Federal Motor Carrier Safety Administration (FMCSA) works to get more input on ways to better identify fraud in the industry and establish stronger enforcement, brokers still need to be vigilant to keep their business safe in the interim. “Fraud cases continue to escalate as the market experiences significant fluctuations. Bad actors are getting more savvy on how they obtain information to defraud brokers and truckers,” said Julia Laurin, chief product officer, at Truckstop. Truckstop lists the following as ways to avoid the top scams. Cargo Theft Cargo theft reports increased 20% in 2022, with the steepest jump in Q4 for a total loss value of $223 million, a Truckstop news release noted. And while cargo theft is nothing new, the tactics thieves use continue to get more sophisticated. Cargo is still being physically stolen from truck stops, parking lots, warehouses, and distribution centers. But there are more strategic methods in play now. Due to the fast-paced listing and bidding process, criminals are tapping into load board technology to pose as legitimate carriers and access loads without suspicion. There has also been a noticeable rise of emboldened thieves who continually work to find new ways to circumvent the carrier vetting process and contact brokers directly with available capacity. They then quickly get multiple loads in succession before the brokers are made aware by the customer that the cargo hasn’t been delivered. These big fraudulent hits are financially devastating and can destroy a broker’s business Brokers can and should protect their cargo by taking extra precautions, even if it slows down processes. Security measures to avoid cargo theft: Thoroughly vet every carrier, every time. Dig into all the details to ensure the carrier is who they say they are. Verify the carrier’s authority and DOT number. Confirm insurance coverage and get a copy of the insurance certificate. Check that the carrier is licensed to transport specific types of freight. Confirm the carrier’s phone number and call the carrier directly to verify accuracy before booking a load. Make sure the email address matches what is listed on the carrier’s registered authority. Improve freight visibility by using Electronic Logging Devices (ELDs) or GPS tracking to view the freight’s location in real-time. Refer to the FMCSA website for additional verification. Plan routes to avoid high-risk areas. If they are unavoidable, be sure to instruct the driver where to stop or fuel prior to avoid stops. Use load boards with additional data security such as two-factor or multi-factor authentication. Use additional security. Locks may seem unsophisticated but are an additional hurdle for thieves. Maintain your records of the truck, including its DOT number and VIN along with photos. Ask questions if something looks suspicious, like a driver using a day cab for a three-day haul. Double-Brokering Double-brokering happens when a carrier accepts a load from a broker and then illegally transfers, or re-brokered, the load to another carrier to complete the haul without notifying the original broker or shipper. This can result in the cargo being transported by a carrier without proper authority, insurance, or not being delivered to its destination. It also voids the shipper’s agreement leaving all parties involved open to significant financial risks, insurance liability, and irreversible reputation damage. This can also result in the permanent loss of FMCSA authority. Brokers may not become aware a load has been double-brokered until there is a problem. Once an accident is reported, a load arrives damaged, or payment isn’t delivered, problems occur and tracking down the guilty party can be difficult. Over the past six months, Truckstop has tracked a 400% increase in double-brokering complaints. And in today’s down market, fraud complaints like double-brokering are only expected to increase. Ways to detect and prevent double brokering: Properly onboard and monitor carriers. Bad actors can be tricky so take time to dig into details such as credit history, tenure, inspection records, and CSA scores. Build solid relationships. Working with carriers you know and trust decreases the risk of fraud. Create open and clear communication that benefits both parties. Trust your gut. If you suspect a double-brokering situation, hold payment until you can verify. Once the payment goes out, you are unlikely to recover what you’ve lost. Protect Your Business You are one of the first lines of defense when it comes to protecting your business. Knowing what to expect, from whom, and when will help you quickly weed out the good from the bad. And remember, trust your instinct if something looks suspicious. Truckstop RMIS Carrier Onboarding helps you quickly and accurately qualify carriers, minimizing your risk of fraudulent activity. Get daily status updates, change notifications, and carrier directory sourcing tools to save you time and protect your business.

Premier Truck Rental celebrates grand opening of Fort Worth facility

The Trucker News Staff - May 19, 2023

FORT WORTH, Texas — Premier Truck Rental (PTR), a provider of custom truck and trailer rentals, has announced the grand opening of its new facility in Fort Worth. “This facility is part of the company’s ongoing expansion strategy and will enable it to better serve its growing customer base across the country,” a news release stated. Founded in 2014, PTR is a family-owned and operated provider of commercial vehicles and equipment rentals, offering a wide range of products. Based in Fort Wayne, Indiana, Premier Truck Rental serves a wide variety of clients across the United States, including commercial construction companies, investor-owned utilities, utility contractors and renewable contractors. The new Fort Worth facility spans 84,187 square feet over 14.4 acres and features 18 EV stations, 4 overhead cranes, a wash bay and a body shop with a paint booth large enough for a Class 8 truck. “We are thrilled to open our second facility in Fort Worth and expand our presence in the region,” said Adriene Horn, PTR’s President. “This facility will allow us to better serve our customers and we look forward to continuing to grow in this thriving market.” PTR’s Fort Worth facility is expected to create 40 jobs in the area, with administrative and technician positions available. A ribbon-cutting ceremony is planned for fall 2023.

Elite Truck Accessories announces merger with 4 State Trucks

The Trucker News Staff - May 17, 2023

DALLAS — Elite Truck Accessories has joined the 4 State Trucks family of companies. The official announcement was made May 9, according to a news release. “This joint effort is the first of many exciting growth initiatives we have planned over the next few years.” said Bryan Martin, President of 4 State Trucks. “We have worked very well with John in years past, and I can’t tell you how truly excited we are to have him ‘sign on’ with us to grow our customer base in the Lone Star State. At the end of the day, we just want to have the opportunity to reach more customers, each and every day.” John White, owner of Elite Truck Accessories, said that his company is “fired up to unite with 4 State Trucks in our mutual efforts to expand providing parts beyond the DFW Metro, and throughout the entire region…” White added: “The addition of crash repair parts, as well as general repair parts to our already extensive offering of chrome and accessories is going to be monumental, as it pertains to taking care of Texas truckers.” 4 State Trucks, founded in 1979, provides heavy-duty truck parts to the aftermarket industry, the news release stated. They offer a wide range of accessories, collision repair parts, maintenance parts, as well as four regional warehouses throughout the U.S. Chrome Shop Mafia, a division of 4 State Trucks, provides truck designs, customization, as well as parts and accessories for big rigs. Elite Truck Accessories was founded in 2010 and has built a reputation in the Dallas area for being the “go-to” for truckers, dealerships, up-fitters and repair shops to obtain their chrome and accessories for semi-trucks, the news release stated. “We are delighted to partner with Elite Truck Accessories,” said Brice Martin, vice president of 4 State Trucks. “They share our core values and vision for accelerating the growth of the truck parts distribution in Texas and surrounding states, while maintaining the strong relationships with our customers, suppliers and employees.”

Jim Burg appointed to ATRI Board of Directors

The Trucker News Staff - May 16, 2023

WASHINGTON — James Burg Trucking Company President Jim Burg has been appointed to the Board of Directors of the American Transportation Research Institute (ATRI). Burg was appointed by ATRI Chair Derek Leathers, chairman, president and CEO of Werner Enterprises, at the Institute’s Board meeting on May 5 in Hollywood, Florida, according to a news release. Burg began his career in trucking more than 40 years ago. He was an owner-operator for eight years before incorporating and licensing his company, James Burg Trucking Company, which is a flatbed carrier currently operating over 90 trucks throughout the Midwest. During Burg’s career, he has logged more than 1.3 million miles operating commercial motor vehicles. “He has spent countless hours on innovative truck and trailer design to achieve the most efficient flatbed equipment in the industry,” the news release noted. Burg has served on numerous committees and boards of the American Trucking Associations, PrePass Safety Alliance, Commercial Vehicle Safety Alliance and the Michigan State Police. He has received a number of trucking industry awards and honors, including being the 2010 recipient of Heavy Duty Trucking magazine’s Innovator of the Year award and the 2016 Michigan State Police Distinguished Partner award. Burg has been married to his wife Carol for 22 years and is the father of two daughters. Olivia is a junior at Marist College, Poughkeepsie, New York, and Isabelle is a freshman at Vanderbilt University in Nashville. “Jim has been a loyal supporter of ATRI and we are excited to welcome him to the Board of Directors,” Leathers said. “As a regional carrier, he brings an important perspective to the Board, and we look forward to his involvement as we continue to address trucking’s top research priorities.” A complete listing of the ATRI Board of Directors is available at TruckingResearch.org.

Stephen Roy hired as president of Mack Trucks

The Trucker News Staff - May 15, 2023

GREENSBORO, N.C. — Stephen Roy has been named president of Mack Trucks, a subsidiary of Volvo Group. In that role, he will also sit on Volvo’s Executive Board, according to a news release. Roy will succeed Martin Weissburg, who will retire after a long career within the Volvo Group, on June 1. Roy began his Volvo Group career in 1996 and is currently the head of the North American region of Volvo Construction Equipment. Prior to his current role, Roy has held many senior positions in the company, including within Mack Trucks and the Group’s North American truck organization, the news release noted. Weissburg has served as a member of the Volvo Group Executive Board for more than a decade and has been leader of Volvo Financial Services, Volvo Construction Equipment and Mack Trucks. He will now join the Board of Nova Bus.

PACCAR, Toyota expand hydrogen fuel cell truck collaboration using Kenworth, Peterbilt models

The Trucker News Staff - May 15, 2023

BELLEVUE, Wash. and PLANO, Texas — PACCAR and Toyota Motor North America Inc. (TMNA) are expanding efforts to develop and produce zero emissions, hydrogen fuel cell (FCEV) Kenworth and Peterbilt trucks powered by Toyota’s next-generation hydrogen fuel cell modules. According to a news release, “the expanded agreement supports ongoing development and commercialized zero-emission versions of the Kenworth T680 and Peterbilt 579 models featuring Toyota’s hydrogen fuel cell powertrain kit, with initial customer deliveries planned for 2024.” “Having worked extensively with the Toyota team, we are confident that our combined efforts can deliver industry leading FCEV trucks with all of the quality, reliability and aftermarket support that Kenworth and Peterbilt customers depend upon,” said John Rich, PACCAR’s chief technology officer. “This partnership further expands PACCAR’s industry-leading lineup of zero emissions vehicles that enhance customers’ operational efficiency and reduce their environmental impact.” PACCAR and Toyota have collaborated on FCEV truck development for the past several years, including a pilot program that deployed 10 Kenworth T680 FCEV trucks at the Port of Los Angeles. The pilot provided both Kenworth and Toyota “with real-world feedback that further enhanced the performance and range of the vehicle,” the news release stated. Designed for use in heavy-duty commercial vehicles, Toyota’s heavy-duty fuel cell electric powertrain kit was recently awarded the Zero Emission Powertrain certification by the California Air Resources Board (CARB). Toyota will begin assembly of the modules in the United States in late 2023. “Toyota aims to reduce or eliminate emissions for all mobility solutions, and our fuel cell electric powertrains have proven that hydrogen can play a significant role in the emissions reduction of emissions from heavy-duty transportation,” said Scott Friedman, senior program manager advanced mobility at TMNA. “Receiving the Zero-Emission Powertrain Executive Order from CARB is a key achievement for our teams who have dedicated an incredible amount of time and effort, and we are excited to offer this powertrain commercially in the near future.” Christopher Yang, TMNA group vice president of Business Development, said his company is excited to work with PACCAR “to realize a future where Toyota’s industry leading hydrogen fuel cell technology can power heavy-duty trucks that will travel across highways throughout the U.S. with zero emissions.“ “This innovative technology enables us to provide our commercial customers with a viable carbon-neutral option to further their business, while also contributing to Toyota’s mission to reduce and ultimately eliminate carbon from the environment,” Yang concluded.

CTK Trucking & Logistics expands services in New York area

The Trucker News Staff - May 15, 2023

NEW YORK — CTK Trucking & Logistics, a family-owned company offering trucking, logistics, demolition and junk removal services in the New York City area, has announced that it is expanding its service offerings. The company has been serving the Tri-State region for more than seven years, and since winning the largest-ever recycling contract in New York City in November 2021, it has “continued to grow its business and reputation as a reliable and affordable service provider,” a news release stated. CTK Trucking & Logistics was founded by President Neal Mcleod, who, after working in the trucking industry for 15 years, decided to pursue his own business venture. “Our goal has always been to offer our clients reliable and affordable trucking and junk removal services, and we’re thrilled that our clients have responded so positively to our offerings,” Mcleod said. “With our expanded service offerings, we’re confident that we can meet the needs of even more clients in the Tri-State area.” CTK Trucking & Logistics’ expanded service offerings include additional container rental services and specialized transportation services. The company is now equipped to handle more complex demolition projects, including interior demolition, structural demolition and selective demolition, according to the news release. “The specialized transportation services will cater to the specific needs of clients with unique shipping and logistical challenges,” the news release stated. “These services will provide customized solutions to help clients navigate complex transportation and logistics requirements, such as overweight loads, time-sensitive deliveries, and earth materials transportation.” In addition to these expanded services, CTK Trucking & Logistics is also investing in new technology and equipment. The company recently upgraded its fleet of trucks and equipment to reduce emissions and increase efficiency. “We believe that our clients deserve the best service possible, and that means constantly evaluating and expanding our offerings to meet their needs,” Mcleod said. “By offering these specialized services, we can help clients tackle their toughest transportation and demolition challenges, all while providing the same exceptional customer service they’ve come to expect from CTK Trucking & Logistics.”

TravelCenters of America approves BP takeover

The Trucker News Staff - May 15, 2023

WESTLAKE, Ohio — Stockholders with TravelCenters of America Inc., franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, have approved the company’s merger with and into BP Products of America. According to a news release, BP’s wholly-owned subsidiary will acquire all of the outstanding shares of TA common stock for $86.00 per share, which amounts to $1.3 billion in cash. The transaction price represents an 84% premium to TA’s average trading price over the 30 days ending Feb. 15, 2023, the date the BP merger agreement was signed. TA stockholders approved the BP merger with more than 72% of the shares outstanding and 93.0% of the total shares voted in favor of the merger. The final voting results of TA’s special meeting will be reported in a Form 8-K with the U.S. Securities and Exchange Commission. “We are thrilled to welcome the TravelCenters of America team to BP and give a turbo-boost to our convenience and mobility business in the U.S.,” said Emma Delaney, executive vice president of customers and products with BP. “Combining TA’s sites on US highways with our brilliant retail network off the highway immediately expands our offer and doubles our global convenience gross margin.” Upon completion of the transaction, shares of TA’s common stock will be canceled and will no longer trade on the Nasdaq, and TA will become a wholly-owned indirect subsidiary of BP. n February, BP announced it had agreed to acquire TA, subject to required approvals. Having received those approvals and with the transaction complete, “TA’s strategically located network of highway sites complements BP’s existing predominantly off-highway convenience and mobility business in the US, enabling TA and BP to offer fleets and consumers a seamless nationwide service,” the news release noted. The transaction will provide options to expand and continue to develop convenience and mobility offers through four of BP’s five transition growth engines: EV charging Biofuels Hydrogen Convenience “Convenience is one of five strategic transition growth engines that BP intends to grow rapidly through this decade,” according to the news release. “By 2030, BP aims for around half its annual investment to go into these transition growth engines; with around half of its anticipated cumulative $55-65 billion transition growth engine investment going into convenience, bioenergy and EV charging.”

Preliminary used Class 8 truck same dealer retail sales shrank in April

The Trucker News Staff - May 15, 2023

COLUMBUS, IN – The preliminary Class 8 same dealer used truck retail sales volume balloon deflated in April, shrinking 22% month-over-month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. The decline split the difference with the auction and wholesale markets, the ACT report noted. As expected, auction activity pulled back (-45%) from March’s quarter-end spike. On the flip side, wholesale deals were up 130% month-over-month. Combined, the used truck industry saw preliminary same dealer sales pull back 27% month-over-month. Compared to March 2023, average retail price declined 6%. Miles was flat and age increased 1%. Compared to April of 2022, volumes, price, and age declined, and miles was flat. According to Steve Tam, vice president at ACT Research, “Historically, April is a pretty average month, slowing 8-10% from March, said Steve Tam, vice president of ACT Research. “Clearly, some used truck buyers are beginning to react to the increased pressure of slowing freight and economic uncertainty.” The preliminary average retail price (same dealer sales) of used Class 8 trucks sold in April fell 6.0% month-over-month to $68,500, 32% below the industry peak in April 2022, according to ACT. “While easier comparisons from this point forward might make it feel like the pricing environment is improving, prices will still be falling sequentially, counteracting increasing optimism,” Tam said.

Armstrong Transport Group recognized as a ‘US Best Managed Company’

The Trucker News Staff - May 12, 2023

CHARLOTTE, N.C. — Armstrong Transport Group has been selected as a 2023 U.S. Best Managed Company. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams, according to a news release. This is the second consecutive year that Armstrong Transport Group has been honored as a designee. “Armstrong is honored to be named a US Best Managed Company for the second year in a row, a testament to the hard work and dedication of our team who continue to drive our success,” said Dave Morris, chief financial officer at Armstrong Transport Group. “We are particularly proud of our significant growth in the US market, continuing our investments in innovative technology, and prioritizing our people and culture. We look forward to building on this achievement and continuing to deliver exceptional value and services to our customers and agent network.”

Month of May will be pivotal for truckload volume, says DAT’s Adamo

The Trucker News Staff - May 12, 2023

BEAVERTON, Ore. — Truckload freight volumes declined and national average spot rates for dry van and refrigerated loads fell for the fourth consecutive month in April, according to the latest information provided by DAT Freight & Analytics. The DAT Truckload Volume Index (TVI), which measures loads moved during a given month, was lower for all three equipment types in April. Van TVI was 206 for the month, down 15.5% from March and 12.3% lower year over year. Refrigerated freight fell to 154, a 16.3% decline from March and 12.5% lower year over year. Flatbed volume was 239 —7% lower compared to March but 3.5% higher year over year. According to DAT, it’s not unusual for truckload freight volumes to decline from March to April. However, the van and refrigerated TVI numbers were the lowest since February 2021, when a polar vortex and unprecedented winter storms disrupted logistics activity across large areas of the U.S. and Canada. “May will be pivotal for shippers, brokers and carriers,” said Ken Adamo, chief of analytics for DAT. “After a challenging first four months of the year, we expect to see the effects of seasonality on freight volumes and rates. The question is how sustainable those effects will be.” Truckload demand and pricing eased. National average load-to-truck ratios decreased, indicating weaker demand for truckload capacity on the spot market. The last times van and refrigerated ratios were this low was May and April 2020, respectively, during the supply chain shocks of the COVID-19 pandemic: The van ratio was 1.9, down from 2.0 in March, and 3.4 in April 2022. The refrigerated ratio was 2.7, down from 3.0 in March and 6.3 year over year. The flatbed ratio was 12.1, down from 12.1 in March and 64.5 year over year. Lower demand for truckload services led to a drop in national average spot van and reefer rates: The spot van rate averaged $2.06 per mile, down 10 cents compared to March and 71 cents lower year over year. The spot reefer rate fell 9 cents to $2.41 a mile, 72 cents lower than in April 2022. The spot flatbed rate dipped 4 cents to $2.67 a mile, down 70 cents year over year. Line-haul rates, which subtract an amount equal to a fuel surcharge, continued a pattern of month-over-month declines in 2023. The national average van line-haul rate was $1.59 per mile, down 8 cents compared to March, while the reefer line-haul rate fell 7 cents to $1.89 a mile. The average flatbed line-haul rate was $2.10 a mile, down 2 cents. Fuel surcharge amounts fell 2 cents to an average of 47 cents a mile for van freight, 52 cents for reefers and 57 cents for flatbeds. At $4.10 a gallon, the price of diesel was 11 cents lower compared to March. Will seasonality kick in? National average rates for contracted freight were lower compared to March, but the spread between contract and spot rates rose to near all-time highs: 62 cents for van freight, 60 cents for refrigerated and 66 cents for flatbed. Adamo called the spread between spot and contract rates “an indicator of where we’re at in the freight cycle — the balance of bargaining power among shippers, brokers and carriers.” For the gap to close, two things need to happen, according to Adamo. “One, the supply of trucks on the spot market needs to diminish, which unfortunately means more carriers exiting the market,” he said. “Two, there needs to be higher demand for trucks—in other words, shippers with more loads than they planned for.” Rising TVIs in May could bring relief from depressed rates. “In 2016 and 2019, it was precisely the third week in May when the spot market entered a recovery phase after prolonged declines and stagnation,” Adamo said. “Seasonality kicked in and shippers needed more trucks to move fresh produce, construction materials, imports and summer and back-to-school retail goods. If we see an uptick in demand before Memorial Day, it will be a welcome sign for owner-operators and small carriers as we head into the summer and fall.”

TFI International announces 2 LTL acquisitions

The Trucker News Staff - May 11, 2023

MONTREAL — TFI International Inc. is set to acquire Siemens Transportation Group (STG) and has completed the acquisition of Hot Line Freight Systems. Terms of the transactions were not disclosed, according to a news release. Founded in 1962, a majority of STG’s operations are LTL (less-than-truckload) with a smaller portion of its business in truckload and flatbed. Based in Saskatoon, Saskatchewan, STG is a family-owned business providing a total supply chain solution spanning North America through its 15 terminals, including 11 in Canada and four in the U.S., generating annual revenues of approximately $150 million, the news release stated. STG’s Doug Siemens will continue to manage the business as part of TFI’s LTL segment, reporting to executive vice president Chris Traikos. The transaction is subject to regulatory approval. Founded in 1988, Hot Line is a specialized LTL provider based in Wisconsin. The company’s nearly 200 employees operate a network of 14 terminals (eight of which are owned), generating approximately $30 million in annual revenues. Hot Line has a “strong focus on expedited one-to-two-day LTL service across the midwestern U.S., as well as a nationwide over-the-road division concentrating on high-value and white glove freight,” the news release stated. Hot Line’s Paul Burgmeier will continue to manage the business as part of TFI’s Less-Than-Truckload segment, reporting to Executive Vice President Rick Hashie. “We are pleased to be expanding our LTL footprint in both Canada and the US with these two LTL acquisitions,” said Alain Bédard, chairman, president and chief executive officer of TFI International. “STG’s impressive family-run approach has attracted a loyal customer base across diverse industries, and its compelling geographic presence and well-maintained equipment strategically complement our growing network. Hot Line is another highly attractive acquisition with well-run operations and a strong presence in the midwestern US that will further bolster our LTL presence while allowing us to ramp its cross-border business. We are thrilled to welcome Doug, Paul and their impressive teams to our growing family of companies and look forward to watching both STG and Hot Line succeed under the TFI International umbrella.”

PGT Trucking breaks ground on new Laredo terminal facility

The Trucker News Staff - May 11, 2023

LAREDO, Texas — PGT Trucking Inc., a multi-service transportation firm offering flatbed, dedicated, international and specialized services, broke ground this week to mark the start of the construction for their new logistics center in Laredo. Leading the groundbreaking ceremony at the 7.73-acre site within the Pinnacle Industry Center was Gloria Solis, Laredo Chamber of Commerce Board member. PGT Trucking company representatives, local government officials and business leaders were in attendance, a news release noted. “On behalf of PGT Trucking, and our partnerships with Park Avenue Construction, Kraus Development and the Laredo Chamber of Commerce, we are excited for our expansion in Laredo, and support the continued development of this city and the surrounding areas,” said Pat Gallagher, PGT Trucking CEO. With an expected completion date of Q1 2024, the custom facility will include a full-service operations center, modern driver amenities and a truck maintenance shop, providing a regional base for more than 70 local drivers. PGT Trucking has operated in the Southwest region for more than 25 years, opening their first terminal in Laredo in 1995. The company moves more than 4,000 cross-border loads annually.