Class 8 orders rising: ACT Research

Freight Shows Signs of Life in ATA Truck Tonnage Index

Source: ATA

The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index rose 2.9% in January, offsetting some of the decline that was noted in December.

In January, the index equaled 138.8 – up from 134.9 in December, when the Truck Tonnage Index fell by 4.3%. Compared with Jan. 2016, the seasonally adjusted Index increased 2.6% and for all of 2016, tonnage was up 2.5%.

“The freight economy is starting to show some signs of life and January's truck tonnage numbers are a good step forward,” said Bob Costello, ATA chief economist. “Hopefully the ups and downs in truck tonnage during 2016 will not be as pronounced in 2017.”

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 131.6 in January, which was 1.8% below the 133.9 posted the previous month.

“Looking ahead, the most recent positive sign for truck tonnage is the large drop in the inventory-to-sales ratio during December,” said Costello. “The decrease put inventories throughout the supply chain, relative to sales, to the lowest level in two years. There is no doubt that the inventory glut was a drag on truck freight volumes last year.”

Related: Intermodal Freight Rates Jump, Truckload Linehaul Slips

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Navistar board names Clarke chairman

Navistar President and CEO Named Board Chairman

Troy A. Clarke Photo: Navistar

Following Navistar International's annual shareholder meeting on Feb. 14, the board of directors has elected company president and CEO Troy A. Clarke as its chairman.

Clarke replaces the retired James H. Keyes, who had served as non-executive chairman of Navistar's board since April 2013. The change was effective immediately. Additionally, board member Gen. Stanley A. McChrystal was elected as the independent lead director.

"It has been a pleasure to serve on the board for the last four years, and I am honored to have been elected chairman," said Clarke. "This is an exciting time for Navistar, as we pursue our growth strategies highlighted by significant new product launches and our pending strategic alliance with Volkswagen Truck & Bus. I look forward to continuing to work with our very dynamic board, which is focused on the future and supportive of management's efforts to create a great truck company."

At the company's annual shareholder meeting, stockholders elected nine incumbent directors to the board of directors. The company also ratified the selection of KPMG as its independent registered public accounting firm; approved, on an advisory basis, the compensation of key company executives, and approved a preferred one-year frequency of the advisory vote on executive compensation.

Related: Keyes, Hammes Retire from Navistar Board

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Positive signs for truck tonnage

The for-hire truck tonnage index compiled by the American Trucking Associations (ATA) jumped 2.9% in January, after falling 4.3% last December; a sign that “the freight economy is starting to show some signs of life,” according to Bob Costello, chief economist for the trade group.

Compared with January 2016, the index increased 2.6%, he added, with tonnage up 2.5% for all of 2016 versus 2015.

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