Economic Watch: Global Growth Expected to Hit 3% in 2018

Global outlook for gross domestic product growth rates, 2017-2027. Graphic: The Conference Board

After exceeding expectations in 2017, the global economy is projected to continue its current momentum to generate a 3% growth rate through 2018, according to The Conference Board's latest Global Economic Outlook.

The non-profit, private research group's analysis provides projections for the output growth of the world economy, including 11 major regions and individual estimates for 33 mature and 36 emerging market economies for 2018–2022 and 2023–27.

“Global growth has finally left the starting gate since the global economic and financial crisis."

“Global growth has finally left the starting gate since the global economic and financial crisis,” said Bart van Ark, chief economist of The Conference Board. “GDP (gross domestic product) growth, which we predicted to grow at 2.8% [annually] a year ago, is likely to end at about 3% for 2017, and through 2018.”

While the growth path of mature markets will remain solid in the short term, potential for much faster growth is limited, and a growth slowdown is likely to set in later in the decade, according to the report.

“As some major emerging markets are maturing themselves, especially China, they are unlikely to return to growth trends of the past,” said van Ark. “The good news is that a larger role for qualitative growth factors; an improvement in labor force skills, digitization, and especially stronger productivity growth; may help sustain growth and provide better conditions for businesses to thrive over the next decade.”

Momentum in mature economies increased during 2017, which sets them up to continue growing at a decent pace in 2018 compared to the previous five-year average of 1.8% (2012–2017).

Mature economies are projected to grow by 2.1% in 2018 compared to 2.2% in 2017. The U.S. economy will especially benefit from carrying stronger investment ...Read the rest of this story

McLeod Updates LoadMaster Enterprise and PowerBroker

McLeod Software is releasing Version 17.2 of its flagship products, LoadMaster Enterprise and PowerBroker adding new features for paying drivers, managing assignments, and new integrations.

LoadMaster's Driver Settlement module has been enhanced to enable a wider variety of compensation options, or combinations of those options, for company drivers in both LTL and truckload operations. Any company driver can be paid hourly, by the mile, by the trip, or as salary payroll. Those pay options may now be configured by the trip for drivers who might be compensated differently based on the specific work activity in which they are engaged. Any driver's work hours can be entered through the native LoadMaster timecard functions and screens.

LoadMaster's Order Planning has a new set of filtering capabilities that allow fleet or driver managers better visibility for each driver's current and pre-assigned movements. These users can easily see their entire fleet or driver group, as well as all preassigned movements for each driver in that group. This view is especially helpful when multiple pre-assignments are planned for drivers or tractors.

LoadMaster now includes integration with a number of new Mobile Communications solutions. EROAD, Forward Thinking Systems, KeepTruckin, and Teletrac Navman Director have been added. The existing integration solutions with Coretex iBright and Omnitracs Enterprise Services have been enhanced.

The LoadMaster Safety Module now offers integration with Lytx DriveCam to supply driver and tractor associations plus start times from the LoadMaster system for video recording in Lytx.

The Vehicle Maintenance Solution from RTA Fleet Management Software has been integrated with LoadMaster to both pass and receive vehicle maintenance information.

An interactive fuel integration with Multi Service has been added and enhancements to Comdata's interactive fuel integration are also part of the Version ...Read the rest of this story

NTSB Says FMCSA Not Doing Enough to Keep Unsafe Operators Off Highways

Aerial view shows motorcoach at final rest and impact damage caused by signpost penetrating two-thirds of vehicle. Photo: California Highway Patrol

In the wake of its investigation of a crash caused by a fatigued motorcoach driver, the National Transportation Safety Board reiterated its call for the Federal Motor Carrier Safety Administration to change its motor carrier safety rating system to ensure carriers with serious safety issues either mitigate those risks or be placed out of service.

While the board's recommendations primarily apply to passenger-carrying carriers, some of them would likely affect freight carriers as well.

A sleep-deprived driver operating a motorcoach during early morning hours on a California highway caused a crash that killed four of the 24 passengers, NTSB said in a report released Nov. 13.

A motorcoach operated by Fresno-based Autobuses Coordinados USA Inc., traveling from Los Angeles to Modesto on State Route 99, drifted out of its travel lanes, striking a barrier system and a highway signpost shortly after 3 a.m., Aug. 2, 2016, near Livingston, California. The crash forces resulted in the signpost entering the passenger compartment and tearing through almost the entire length of the vehicle. The surviving passengers received serious-to-minor injuries.

Investigators determined the driver, who was seriously injured, had only about five hours of opportunity for sleep in the 40 hours preceding the crash, leaving him in a state of “acute sleep loss” at the time of the crash. There were no tire marks or other indication the driver took any action to avoid the barrier after the motorcoach drifted out of its travel lane.

According to FMCSA records, Autobuses Coordinados vehicles failed eight of 29 federal inspections in just under two years, pushing its out-of-service rate to 38%, almost five times greater than the national average of 8%.

NTSB determined that inadequate safety practices ...Read the rest of this story

All Eyes on Tesla as Musk Teases ‘Mind-Blowing’ Truck Launch

Many questions regarding Tesla's much-anticipated electric truck are due to be answered this Thursday night at a press event in California. Photo: Tesla

This week Tesla will officially (and finally) unveil its much-anticipated electric truck in Hawthorne, California.

And Tesla CEO Elon Musk is certainly not tamping down expectations, tweeting over the weekend that the upcoming truck would “blow minds out of their skulls” when it is unveiled this Thursday evening at 8 p.m. PST.

Tesla Semi Truck unveil to be webcast live on Thursday at 8pm! This will blow your mind clear out of your skull and into an alternate dimension. Just need to find my portal gun ...

Last month, Tesla delayed the launch of its new truck, due to the company's need to focus on Model 3 sedan production issues and Musk's desire to help restore and modernize Puerto Rico's power grid in the aftermath of Hurricane Irma.

Musk also generated headlines in August when he indicated on Twitter that the new truck would likely be a medium-duty model with a daily range of 200 to 300 miles, and that it would debut with autonomous driving technology already in place.

The following month, speculation arose that Tesla would try a technological end run around the size, weight and range limitations of current battery technology by offering the truck with some sort of quick-change battery pack system. These reports came after it was revealed Tesla filed a patent application in May for a system that can elevate a vehicle and replace a depleted battery pack with a fresh one. The patent says at least one technician would monitor the machine, which could be installed at remote locations along highways between cities and would be able to complete a battery swap job in ...Read the rest of this story

2017 Fleet Forward Conference

The inaugural Fleet Forward Conference took place from Nov. 7 to 8 at Miami Hilton Downtown. The event connected fleet stakeholders with technology providers and offered education regarding the rapid changes in transportation and mobility. Photos by Jasen Delgado.

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Siemens Begins Zero-Emissions Highway Testing in California

Three different types of trucks are being tested: one battery-electric truck, a clean natural-gas hybrid-electric truck, and a diesel-hybrid truck. Photo: Siemens

A new, zero-emission highway concept for moving freight is undergoing testing near Long Beach, California.

German technology giant Siemens and the South Coast Air Quality Management District are conducting a one-mile, zero-emission eHighway demonstration in Carson, California, to determine the feasibility of a dedicated electric highway. The test involves three big-rig trucks hauling freight along a stretch of highway that uses Siemens technology to electrify select highway lanes via an overhead catenary system. This catenary system supplies the trucks with electric power, similar to how modern-day trolleys or streetcars are powered on many city streets, but the system also allows for truck operation outside the electrified sections of infrastructure.

Currently, one battery-electric truck, a clean natural-gas hybrid-electric truck, and a diesel-hybrid truck are driving on the mile-long catenary system on the north- and south-bound lanes of South Alameda Street from East Lomita Boulevard to the Dominguez Channel in Carson. The demonstration system features an overhead contact line that makes power available to trucks along the road. An active pantograph on top of the eHighway trucks transfers energy from the overhead lines to the trucks' electric motors, allowing them to operate with zero emissions while on the catenary system.

The pantograph can connect and disconnect automatically with the contact line via a sensor system while the trucks are moving. This allows the eHighway trucks to easily switch lanes or pass other vehicles without being permanently fixed to the overhead systems. To further ensure the same flexibility as conventional trucks, the eHighway vehicles use an electric-hybrid drive system, which can be powered by diesel, compressed natural gas, battery or other on-board energy source, when driving outside of the catenary lines.

The system is ...Read the rest of this story

Earnings Watch: Daseke Returns to Profitability in Third Quarter

Flatbed and specialized trucking company operator Daseke Inc. moved back into the black – barely – during the third quarter after reporting a loss during the same time in 2016.

Net income totaled $50,000, compared with net loss of $1.3 million for the prior year and a net loss of $4.1 million for the second quarter of 2017.

Revenue for the most recent quarter was $231.3 million compared with $174.1 million for the same period in 2016, a 32.8% increase, while it improved 17.2% over second quarter 2017 revenue of $197.3 million.

During the quarter, Daseke completed the acquisition of two companies, the Steelman Cos. and R&R Trucking.

“Revenues and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the 2017 third quarter increased year-over-year, and the company posted positive net income for the quarter,” said Scott Wheeler, executive vice president and CFO. “Our third quarter adjusted EBITDA of $27 million included a $5.7 million negative impact related primarily to costs associated with Hurricanes Irma and Harvey and, to a lesser extent, lower tractor utilization from an increase in unseated trucks.”

Third quarter 2017 revenue for the company's flatbed segment climbed 8.4% to $85.6 million, compared with $79 million for the 2016 period. Operating income for the third quarter of 2017 was $4.8 million, a 25.3% increase from a year earlier. Total miles for the segment in the most recent quarter were 36.6 million, compared with 37.8 million miles reported for the same period last year.

The company's specialized segment posted revenue of $147.6 million for the 2017 third quarter, and $96.5 million for the year-ago period, an increase of 53%. Third quarter operating income for the segment was $7.2 million compared with $5.7 million a year earlier, an increase of 24.7%. Total miles for the segment were 38.9 ...Read the rest of this story