News Briefs - Feb. 13
The Latest Headlines:
- Schneider Reports Strong Quarterly Results
- Erickson Transport Closes Doors
- Crude Oil Prices Rise as Inventories Continue Declining
- New Road Forecasting Treatment Tested in Iowa
- USF Tabs Descartes for ‘Last Mile’ Cost Management
- Erickson Transport Closes Doors
Schneider Reports Strong Quarterly Results
Privately held truckload carrier Schneider National said Feb. 13 that it posted strong operating results for 2002, including significant cost reductions, revenue growth and driver capacity increases.Green Bay, Wisc.-based Schneider is not required to disclose its quarterly earnings because it is not publicly traded.
During the year, the carrier reduced costs by 130% of its goal and increased revenue by 12%, Schneider said in a statement.
Schneider also said it saw revenue growth at its subsidiaries.
Schneider Intermodal grew its business by 19%, while Schneider Logistics had revenue growth of 27.4%, the company said.
Schneider ranks No. 9 on the 2002 Transport Topics listing largest trucking companies in the United States and Canada. Transport Topics
(Click here for the full press release.)
Erickson Transport Closes Doors
Erickson Transport Corp., a family-owned bulk liquid carrier, closed Tuesday, citing increasing operations costs, the Associated Press said.The Springfield, Mo.-based company had employed 110 people, most of whom had no idea there was trouble ahead for carrier, President Jim Erickson told AP.
The company specifically pointed to increasing fuel, insurance and health care costs as the reasons for its shutdown, AP said.
Seventy-five workers are based in Springfield, with the rest being employed at terminal facilities in Houston and Laredo, Texas; Chicago; and Spartansburg, S.C. Erickson said a few employees would be retained to help the company dispose of its assets.
The company began hauling chemicals and food products like milk across the U.S. in 1953, AP reported. Transport Topics
Crude Oil Prices Rise as Inventories Continue Declining
The price of crude oil rose to a new two-year high after the Department of Energy said that U.S. oil inventories fell to their lowest point since 1975, Bloomberg reported Thursday.Inventories fell 1.6% to 269.8 million barrels, 14% lower than they were at the same time last year. The executive director of the International Energy Agency said that declining supplies in the oil market could lead to a "crisis," Bloomberg said.
In the United States, the price of a barrel of oil rose 35 cents to $36.12 in trading Thursday on the New York Mercantile Exchange, Bloomberg said. Transport Topics
New Road Forecasting Treatment Tested in Iowa
A new road condition monitoring system is being tested in Iowa, the Associated Press reported Wednesday.The system may eventually be able to monitor the specific road conditions for one section of highway or bridge relative to other ones in the area, AP said.
The information, officials said, will help highway crews better treat icy roads, AP reported.
The project is in its third year of development, but this is the first time it is being tested in the field, AP said. Transport Topics
USF Tabs Descartes for ‘Last Mile’ Cost Management
USFreightways said Wednesday that it has selected Descartes Systems Group Inc. to provide “last mile” delivery cost management in the Chicago-based carrier’s U.S. operations.USF said it will use Descartes Routing and Scheduling program to monitor shipments and help avoid potential delivery delays.
Descartes said its Routing and Scheduling wirelessly connects drivers to their customer service offices in real-time.
USF is ranked No. 8 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States. Transport Topics
(Click here for the full press release.)
