Activist applauds Stoughton for tougher guards
Spot Freight Volume Up Slightly Over Past Week, Rates Flat
Spot truckload freight volumes improved a bit during the week ending Feb. 25 thanks to a 7% gain in flatbed load posts, according to DAT Solutions and its network of load boards, but rates were virtually unchanged.
Van and refrigerated freight posts declined 5% and 6%, respectively. Stronger flatbed volume and declining van and reefer freight posts were reflected in the week's load-to-truck ratios:
Van ratio: 2.3 available loads per truckReefer ratio: 4.4 available loads per truckFlatbed ratio: 29 available loads per truckWhile spot load-to-truck ratios remain solid for February, they did little to move national average outbound rates, while the national average price of diesel gained 1 cent to $2.57 per gallon:
Van: $1.62 per mile, unchangedReefer: $1.87 per mile, down 1 centFlatbed: Unchanged at $1.96 per mileWhile van volumes slipped 5% overall, more activity on the top 100 van lanes may soon bring upward pressure to spot rates, according to DAT. But not yet, as no major van market saw a big increase in the average outbound rate:
Los Angeles, $1.84 per mile, unchangedChicago, $1.92 per mile, down 2 centsDallas, $1.51 per mile, unchangedAtlanta, $1.83 per mile, unchangedPhiladelphia, $1.60 per mile, down 1 centThe number of spot reefer load posts declined 6% against a 1% drop in truck posts. The national average reefer declined for the third week in a row.
Average rates out of were major reefer markets were mixed. Two bright spots were in the Northeast. Philadelphia hit $2.28 per mile, up 6 cents from last week, and Elizabeth, New Jersey was, at $1.67 mile, up 1 cent. In the West, Los Angeles averaged $2.32 per mile, unchanged. In the South, both Atlanta, at $2.11 per mile, and McAllen, Texas, hit $1.93 per mile, down 2 cents on average.
With vans and reefers in a seasonal lull, flatbed rates and volumes are ...Read the rest of this story
Bison, J.G. Drapeau host international women
Omnitracs unveils Routing, Dispatching and Compliance product
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Fleet Owner names Fleets of the Year at annual event
Fleet Owner hosted the magazine's 2016 Fleet of the Year awards presentation at a special dinner held at the Country Music Hall of Fame and Museum in conjunction with the 2017 Technology & Maintenance Council (TMC) convention in Nashville, TN, with WIX Filters co-sponsoring the 15th annual recognition of fleet excellence.
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Looking to the future of future truck technology
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Navistar, Volkwagen Close Strategic Alliance Deal
Navistar International Corp. announced the closing of its "wide-ranging strategic alliance" with Volkswagen Truck & Bus, which includes an equity investment in Navistar, a procurement joint venture, and technology and supply collaboration.
"This alliance with Volkswagen Truck & Bus marks a significant milestone in our company's history, and we expect it will create multiple benefits for both companies in both the near and long term," said Troy Clarke, Navistar chairman, president and CEO. "Now that the transaction has closed, we will move quickly to collaborate with an industry-leading, strategic partner to increase our global scale, strengthen our competitiveness, and provide our customers with expanded access to cutting-edge products, technology and services."
In fact, evidence of the new collaboration was already evident this week with Navistar's announcement at the ATA Technology & Maintenance Council annual meeting of the new A26 engine, based on the crankcase of a D26 engine from MAN – a German truck and engine manufacturer wholly owned by Volkswagen.
"The authorities have given our strategic alliance with Navistar the green light. Our newly-founded purchasing cooperation will begin work immediately. This puts both partners in a stronger position for the future. The strategic alliance provides Volkswagen Truck & Bus with access to the all-important North American market. This is a major step toward becoming a global champion," said Andreas Renschler, CEO of Volkswagen Truck & Bus.
With the closing of the alliance, Volkswagen Truck & Bus acquired approximately 16.2 million newly issued shares in Navistar, representing 16.6% of post-transaction undiluted common stock (or 19.9% of pre-transaction outstanding common stock), effective Feb. 28. As a result, Navistar receives $256 million to be used for general corporate purposes.
Renschler and Matthias Gründler, Chief Financial Officer of Volkswagen Truck & Bus, are joining Navistar's board of directors.
The companies' ongoing technology and supply collaboration, which operates out of ...Read the rest of this story