A.M. Executive Briefing - July 11
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Crunch in Heating Oil, a Diesel Competitor, Seen This Winter
The International Energy Agency is warning that oil refiners in the United States and Europe are likely to hit a crunch in stocks of home heating oil, Reuters reports.Since heating oil is a fuel close to diesel and therefore competes with it, supply and price problems for heating oil will automatically become a problem for truckers and others who depend on diesel for commercial operations. Reuters said that in the IEA's monthly Oil Market Report the agency said refiners now trying to boost gasoline stocks are allowing a shortage to develop in distillates that make up heating oil and diesel. Last winter was a tough one for diesel and heating oil, but the IEA report suggests the upcoming winter supply situation could be worse. Transport Topics
Yellow's Expedited Service Got Into the Harry Potter Mode
Overland Park, Kan.-based Yellow Corp., parent of the largest general-freight or less-than-truckload carrier Yellow Freight, said its Exact Express service played a role in the past week's unveiling of the long-awaited new Harry Potter book.
FedEx to Boost Global Network with New Europe, Asia Connections
FedEx Express today said it will reconfigure its global transportation network this summer to "respond to the growing demand for reduced transit times, later customer pick-ups and earlier deliveries in key global markets."The changes include new wide-body aircraft flights directly connecting the FedEx EuroOne hub in Paris to the FedEx AsiaOne hub in Subic Bay, The Philippines. With such changes, the improvements affect various other markets as well.
"FedEx customers in India will be able to get their products to the East Coast of the United States a full business day faster as a result of these new flights," said David J. Bronczek, CEO of the Memphis-based company. "Companies in southeast Asia doing business in Europe will be able to take orders from their customers two to three hours later in the evening, thanks to later cut off times for FedEx pick-ups." Transport Topics
Schneider National Spins Off Logistics Operation
Schneider National will spin off Schneider Logistics as a separate entity and will seek alternative funding for the logistics business, the company has announced.Chris Lofgren, who has served as chief operating officer as well as chief information and logistics officer for Schneider National, has been tabbed as chief executive officer for the new venture. Vice President of Logistics Rodger Mullen will be senior vice president of operations.
Schneider Logistics will handle the current logistics business as well as information technology for Schneider National, and plans to further develop the company's technological opportunities. Transport Topics
Trucker Charged With Murder In Arizona Crash Was Sober, Attorney Says
The attorney for a truck driver charged with murder after an accident on an Arizona highway will ask the grand jury to revisit its indictment and review toxicology reports she says proves her client was not driving under the influence, the Associated Press reported Tuesday.Stephanie Meade, the defense attorney for 48-year-old Richard Reynolds Wagner of Oregon, claims the report shows the J.R. Madrigal Trucking Co. driver did not have drugs or alcohol in his system at the time of the June 8 accident. Wagner has been held in the Pima County Jail on a $150,000 bond since the accident, which killed two Tucson residents.
A previous accident on Interstate 10 had occurred before Wagner came upon the scene in his rig that was hauling apples. He collided with vehicles stopped for the earlier accident, resulting in a fiery crash that shut down the interstate for more than 10 hours. Wagner is facing two charges of second-degree murder and nine counts of endangerment. Transport Topics
Trailer Bridge Expecting Higher Earnings
Citing increases in efficiency and shipping volume, Trailer Bridge, Inc., announced this week that it expects significant improvement in second-quarter results over 1999.The Jacksonville, Fla.-based company also said it will report second-quarter and six-month results for this year after market closing July 25, and will discuss the results the next day during at 10 a.m. EDT conference call that will also be broadcast over the Internet via www.vcall.com. The company expects a 5% increase in revenues over the 1999 second quarter.
Trailer Bridge, Inc., provides integrated trucking and marine freight service to and from the contiguous 48 states as well as Puerto Rico. Company officials cite the new Triplestack Box Carriers – the first vessels designed to exclusively carry 53-foot high-cube containers – as making the company's operations more cost-efficient. Transport Topics
Canada's TransForce Buys Flatbed Specialist
TransForce Inc. of Saint-Laurent, Quebec, has acquired Entreprises R.R. Mondor Inc., a flatbed specialist serving Canada and the United States, Canada NewsWire reported Monday.Entreprises R.R. Mondor will be a wholly owned subsidiary of TransForce, retaining its current name and management team. The company employs 80 people and 14 owner-operators and operates a fleet of 100 tractor-trailers.
TransForce and its subsidiaries form a network of less-than-truckload, truckload, logistics and warehousing operations across all of the United States and Canada. Transport Topics
