Tesla’s new Solar Roof comes with a warranty that lasts forever

Trucking News
Trucking News
10 May by Vitaliy Dadalyan

Pirelli Offers Long-Haul Regional Tire in the U.S.

TP Commercial Solutions has launched the Formula Driver II tire designed for long-haul and regional all-position applications. It is part of the Formula Brand, a Pirelli Tier II brand that will be launched in the U.S. and Canada.

The Formula Driver II tire was designed with Pirelli's Spiral Advanced Technology for Truck, engineered for better wear, tire life, handling, and retreadability.

The tire has a tread pattern featuring siping at the groove edges to resist irregular wear. Large circumferential grooves combined with the optimized structure provides better stability and handling in dry and wet conditions. Stone ejector elements at the bottom of the grooves prevent stones trapping, improving retreadability and durability.

The Formula Driver II All Position rib will start with limited sizes and then expand to a full product line being developed over the coming months. It can be fitted on different axles of several types of vehicles.

TP Commercial Solutions is an entity of Pirelli's industrial business unit that supplies commercial truck tires and fleet solutions in the global market.

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Trucking News
10 May by Vitaliy Dadalyan

Earnings Watch: Daseke Posts $8.6 Million Loss, Radiant Logistics Sees Small Profit

Flatbed carrier group Daseke Inc. has released its first earnings report since becoming a publicly traded company earlier this year. It shows that losses moved higher, but the company's expectations remain high.

The Texas-based operation had a first quarter loss of $8.6 million, or 32 cents per share, compared with a loss of $2.5 million, or 12 cents per share a year earlier. When first quarter 2017 net loss is compared to the fourth quarter of 2016, it declined 28%.

The results include $1.6 million, or 6 cents per share, of transaction costs related to the February merger of Daseke with Hennessy Capital Acquisition Corp. II, according to the company, as well as $3.9 million, or 14 cents per share, of non-cash interest expenses related to the write-off of capitalized loan fees from prior senior loans.

Revenue in the first quarter totaled $160.4 million, 2.3% higher than the same time a year earlier, and improved 6.7% over 2016 fourth quarter revenue at the Texas company.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), was $17.6 million for the 2017 first quarter, compared with $22.7 million for the year-ago period. While Adjusted EBITDA declined 22.7% year over year, it improved 14.6% over fourth quarter 2016 Adjusted EBITDA of $15.3 million.

Stifel Transportation & Logistics Research Group said that the first quarter EBITDA was better than its expectation of $16 million. “This beat, especially given the uncertainty surrounding the first earnings release and various one-time items, tracks favorably with our expectations.”

“As anticipated, we saw sequential improvement in our first quarter 2017 results versus the fourth quarter of 2016, with improvements in miles, revenue, net loss and Adjusted EBITDA, which we believe presents an accurate snapshot of our performance trend and growth,” said Don Daseke, chairman, president and CEO. “We believe rates during the 2016 ...Read the rest of this story

Trucking News
10 May by Vitaliy Dadalyan

Spot Van, Reefer Rates Best Since January; Flatbeds Highest in Nearly Two Years

National average spot truckload rates for van, refrigerated, and flatbed freight rose during the week ending May 6, with van and reefer rates at their highest marks since January, according to DAT Solutions and its network of load boards.

The number of total available loads fell 6% compared to the previous week while truck capacity was virtually unchanged, down just 0.4%. Load-to-truck ratios increased for reefer freight on the strength of produce season but dipped for vans and flatbeds:

Van ratio: 3.3 loads per truck, down 3%Reefer ratio: 6.5 loads per truck, up 11%Flatbed ratio: 39.4 loads per truck, down 12%

The national average van rate climbed 3 cents over the past week to $1.70 mile amid a 3% decline in freight volume while truck posts held steady. Lanes with rising rates continue to outnumber falling lanes on a week-to-week basis, with 52 of the top 100 lanes higher, 37 paying less, and 17 unchanged. Average outbound van rates in key markets:

Los Angeles: $2.02 per mile, up 4 centsChicago: $1.89 per mile, down 1 centAtlanta: $1.92 per mile, up 1 centsPhiladelphia: $1.64 per mile, down 4 centsHouston: $1.73 per mile, up 5 cents

Two notable lanes showed increases. Houston-Chicago increased 13 cents to $1.47 per mile, and Houston to New Orleans also gained 13 cents, but for a much higher $2.38 per mile. All reported rates include fuel surcharges.

The national average spot reefer rate moved 3 cents higher to $1.97 per mile as load posts increased 9% while truck posts declined 2%.

Spot rates out of California are trending up thanks to tomato production, according to DAT. That's good for reefer freight but processed and canned tomatoes in paste and sauces are also a boon for vans. From June to October last year, California shipped 500,000 loads of processed tomato products.

Flatbed load posts decreased 12% ...Read the rest of this story

Trucking News
Trucking News
Trucking News