With trucking insurance firms hiking premiums 10% to 30% in the wake of big claims, and with major companies such as Zurich Insurance Group AG and American International Group Inc. exiting the for-hire insurance market, it's suddenly much tougher – and much more expensive – for truckers to obtain adequate coverage.
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...Read the rest of this storyBaylor Trucking President Cari Baylor said she is “more than happy with her company's decision to add 70 new Kenworth tractors – all equipped with Bendix driver assistance and side object detection safety technologies – to its fleet.” She's also not planning to stop there.
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...Read the rest of this storyThe Owner-Operator Independent Drivers Assn. (OOIDA) continues to push back against federal government attempts to mandate speed limiters on heavy-duty trucks, asking members of the House to oppose legislation the Senate tucked into a Veterans Affairs funding bill.
In a letter to the leadership of the House Transportation committee, OOIDA points out that the Dept. of Transportation has already published a rulemaking on speed limiters—so Congress needs to back off.
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The third quarter earnings season continued on Thursday with the release of reports showing more trucking companies had lower earnings compared to a year ago. Much of the blame was placed on lower rates, less freight and excess trucking capacity.
Heartland Express Inc. (NASDAQ:HTLD) reported net income of $12.5 million, or 15 cents per share, down from $15.1 million, or 17 cents per share, a year earlier. Net income is 17% lower from a year earlier, and earnings per share missed a consensus estimate from analysts by 1 cent.
Revenue for the most recent period totaled $149.3 million, compared to $182.5 million in the third quarter of 2015.
Operating income dropped $4.9 million to $19.9 million, mainly due to the current operating environment challenges on freight volume and pricing, according to the Iowa-based company.
“The results achieved during the quarter and year-to-date have been hard fought,” said CEO Michael Gerdin. “We have continued to experience downward pressure on freight rates due to the softness in freight volumes resulting from the available capacity in the industry.”
However, he pointed out the company has continued to show year-over-year improvement in its operating ratio, excluding certain items, for both the third quarter and the year to date results.
“We were able to generate another quarter of solid cash flows from operations, which allowed us to increase our cash reserves and pay for capital expenditures while remaining debt free,” Gerdin said. “This allows us to operate profitably and maintain an efficient fleet of equipment, while keeping resources in reserve to capitalize on future investment opportunities that align with our operating strategy and our corporate values."
Werner Profit Sinks By 41%Meantime, Werner Enterprises Inc. (NASDAQ:WERN) reported third quarter net income fell 41% from a year ago to $18.9 million. Earnings per share moved lower to 26 cents from 44 cents, meeting a ...Read the rest of this story
Controller Sean McAllister and Director of Safety John Bowlby hold the National Tank Truck Council Outstanding Safety Performance Trophy at the entrance to Carbon Express headquarters.
">Controller Sean McAllister and Director of Safety John Bowlby hold the National Tank Truck Council Outstanding Safety Performance Trophy at the entrance to Carbon Express headquarters.
">When Steve Rush was an owner-operator, he would have laughed at the notion that one day he would be running a tanker fleet that would be recognized as the safest carrier by the National Tank Truck Council in the 15 million miles and under category. A fleet with a safety director who was recognized by both New Jersey and NTTC as safety director of the year. A company whose drivers had been honored three years running as state Truck Driver of the Year.
Rush, president of Wharton, N.J.-based Carbon Express, was a driver for the better part of 19 years. On one of his first jobs, he worked some 20 hours a day hauling U.S. mail, and “had more accidents than you could shake a stick at.” He still had his share of accidents as an owner-operator. And even when he started building his own fleet in 1983, he says, he didn't really pay attention to hours of service.
Then about 10 years ago, his then-safety director turned down an invitation to be chairman of safety for NTTC — and turned it down because “it would be a lie,” Rush recalls. That was a wakeup call for Rush, and he and Sean McAllister, today the company controller, set out to build a safety culture that would be worthy of the declined honor.
It wasn't easy. A company that previously had rubber-stamped driver logs now had to get drivers to adhere to hours of service and fill out logs accurately. Two years later, they transitioned to electronic logs.
One of the drivers chosen to be the first to use e-logs “was a great driver who really struggled,” Rush says. Rush ...Read the rest of this story
MacroPoint's load tracking solution has been fully integrated into the GlobalTranz proprietary transportation management system platform, allowing users to automate track and trace capabilities
With MacroPoint enabled, GlobalTranz now has the ability to receive real-time location updates, along with arrival and departure times at shippers and consignees. GlobalTranz is a logistics company specializing in freight management services, including LTL truckload, supply chain management and domestic air/expedited shipping.
“Track and trace automation allows our carrier sales team to focus on procuring new capacity for our growing network, booking more transactions and increasing loads per rep performance,” said Ben Buchanan, vice president of truckload operations at GlobalTranz. “Additionally, MacroPoint technology reduces outbound calls from carrier sales staff to carrier partners. With MacroPoint communicating real-time location updates, we are able to enhance and improve our overall customer satisfaction.”
MacroPoint's freight tracking software is designed to give shippers, brokers, 3PLs and carriers real-time visibility into load status.
“Tracking thousands of shipments for GlobalTranz will enable them to leverage the value that our patented freight tracking and real-time location monitoring solution provides,” said Dave Halsema, senior vice president of MacroPoint. “We are pleased that GlobalTranz has chosen MacroPoint to help them continue growing their business while improving the service they provide to shippers.”
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...Read the rest of this storySmith & Berry has been using a document management system to capture data for 16 years. The Penticton, British Columbia-based carrier has seen improved efficiencies across the board, says Dorothy Vankoughnett, controller and IT manager.
">For a number of years now, motor carriers have been among the many companies ridding their operations of paper. They have done so for a number of reasons: improved efficiencies, streamlined processes and even a desire to “go green.”
According to Matt Johnson, senior product manager at Omnitracs, the key ways document capture improves a carrier's efficiencies include increased driver productivity during downtime, fewer stops (for courier services and LTL carriers), and improved billing payment cycle because delivery documents get to the back office sooner.
Fleets use various technologies to automate driver paperwork, says Pete Allen of MiX Telematics. Workflow apps, for instance, allow fleets to turn documents into digital forms drivers can fill out with their in-cab mobile device or a smartphone or tablet. The MiX Go forms app is one such product, providing easy data entry and allowing drivers to capture signatures, scan barcodes or take a picture.
The paperwork burden varies by particular segment, application and load type. In truckload, the paperwork involves loads and trips. LTL carriers look at paper “a little differently,” explains Ben Wiesen, vice president, product at Carrier Logistics Inc. “It's more about flow. The difficulty the LTL industry has is keeping the paper flow up with the freight flow.” Document management systems help “close the gap between the paper flow and the freight flow,” he says.
While fleets use less and less paper, the information — the data — that used to be on a piece of paper still needs to be captured, stored, and applied to everyday business functions, from the truck to the back office, shop, HR and management. As paper use has dropped, fewer filing cabinets line office walls. But fewer pieces of paper do not mean less data. In fact, there is more data than ever being collected and managed, because technology ...Read the rest of this story
