TransVix LLC, the company looking to become the first Trucking Futures Exchange, has announced the move of its corporate headquarters to Chattanooga, TN, from Fort Worth, TX.
TransVix said it is working to revolutionize the trucking industry by addressing one of the most significant challenges in freight transportation today— rate volatility.
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...Read the rest of this storyThe Internet of Things (IoT) is creating a lot of change within the transportation and logistics world, much of it disruptive in nature for trucking due to how it can help more deeply infuse the use of “Big Data ...Read the rest of this story
Image: U.S. Dept. of Transportation
">Image: U.S. Dept. of Transportation
">Among the numerous recommendations laid out in a public-policy roadmap issued on Feb. 8 by the Intelligent Transportation Society of America, is a call to a potentially leverage a “tax overhaul” to fund new transportation infrastructure.
The expansive document covers a range of policy arenas that impact the research and deployment of intelligent transportation— aka “mobility”—technologies. These include everything from robotics and automation to artificial intelligence and cloud computing.
ITS America said the related issues in play include “looking for new and long-term funding and financing options around much needed transportation investment” along with cybersecurity/privacy, easing the transition to automated and connected vehicles, increasing integration of technologies that improve the operational life and efficiency of road networks, and “energizing new business models of passenger and freight mobility.”
President and CEO Regina Hopper. “This roadmap provides Federal, State, and Local policymakers with the tools to capitalize on this innovation—from automated vehicles to highways and traffic lights that communicate in real time with drivers on the road. Now is the time to jumpstart the economy and save thousands of lives per year.”
Specific to transportation funding, the roadmap's recommendations include:
Promote Innovative Models in Transportation Funding, Finance, Partnerships and Performance Measures. “Address potential use of a tax overhaul to fund new and long-term transportation infrastructure and systems with a focus on technology-driven mobility investments.”Increase Overall Investments in Transportation with a Greater Focus on Technology. “Support new and long-term sustainable funding and financing in transportation infrastructure that expand technology-driven mobility investments and preserves the broad ITS eligibilities under the Fixing America's Surface Transportation Act (FAST Act) to fund technology capital projects and operations and maintenance. Advocate for flexible policies regarding Federal/State/Local matching requirements (e.g., 100% Federal funding upfront for technology-driven mobility infrastructure investments).”Encourage Federal Funding Flexibility and New Funding Mechanisms. Advocate for flexible ...Read the rest of this story
The parent to less-than-truckload carrier ABF Freight and other trucking and logistics operations reported that its fourth quarter net income fell in both the final quarter of 2016 and all of last year.
ArcBest Corp. said on Wednesday that its fourth quarter 2016 net income totaled $1.6 million, or 6 cent per share, compared to fourth quarter 2015 net income of $5 million, or 19 per share. In contrast, revenue increased 6.2% to $688.2 million.
The company said its bottom line during the quarter was affected by a $10.3 million reorganization charge for impairment of software, contract and lease terminations and severance associated with its new corporate structure that was implemented beginning this year.
For all of 2016, ArcBest reported net income fell to $18.7 million, down from $44.9 million in 2015, as revenue increased slightly to $2.7 billion from $2.67 billion.
In the company's asset based operations, which includes ABF Freight, 2016 fourth quarter revenue of $482.1 million compared to $461 million, a per-day increase of 5.4%.
Tonnage per day increased 0.9% during the quarter while shipments per day increased 6.1%. Total billed revenue per hundredweight increased by 3.6%
ArcBest's asset-based services experienced higher average daily revenue resulting from increased revenue per hundredweight, according to a statement from the company.
“In the midst of a competitive but rational industry yield environment, ArcBest's asset-based pricing remained disciplined. In fourth quarter 2016, freight shipments grew at a faster rate than freight tonnage,” ArcBest said. “Thus, the average weight, and resulting revenue, of each shipment was below that of fourth quarter 2015. The shipment growth contributed to increased freight handling labor and purchased transportation costs."
The company's asset-light segment, which incudes its ABF Logistics, Panther, ABF Moving and FleetNet, reported revenue of $211.2 million in the fourth quarter compared to $191.5 million during the 2015 fourth quarter. Despite the increase, ...Read the rest of this story
J.J. Keller & Associates has introduced Everyday Transportation Safety Management: A proactive and Practical Approach for the Transportation Safety Professional, new resource for transportation safety professionals.
The publication was developed to help transportation safety professionals comply with complex and changing Department of Transportation regulations, foster a safety culture and protect a company's bottom line. It includes callouts to draw attention to critical aspects of the regulations, as well as best practices and actionable content for structuring and maintaining transportation safety programs.
The major topics in Everyday Transportation Safety Management reflect common challenges in maintaining a safe, efficient, compliant operation: safety responsibilities, safety compliance management, maintaining a safety fitness rating, risk management and loss prevention, and safety training. It also addresses employee retention and involvement.
“This valuable resource will help novice and seasoned safety professionals alike navigate their safety journey,” said Mark Schedler, senior transportation editor for J. J. Keller. “It takes the approach that safety is always a work in progress, with many barriers to be addressed.”
Everyday Transportation Safety Management is also available in an online edition that provides access to the content from anywhere, using a web browser and mobile device. An update service is available to ensure that transportation safety professionals can stay current with any changes to DOT regulations.
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