News Briefs - July 11
The Latest Headlines:
- Blumenfeld to Head CSX Intermodal
- Manitoba to Require Reflective Tape on Large Trucks
- Oil Price Falls From Seven-Week High
- Mayflower Wins $50 Million Contract
- MAN Expects Better Earnings in 2003
- DOT Readies Amtrak Plan
- U.S. Seen Unaffected by Deutsche Post Cuts
- Manitoba to Require Reflective Tape on Large Trucks
Blumenfeld to Head CSX Intermodal
Alan Blumenfeld was named Thursday to the position of president of CSX Intermodal Inc., a subsidiary of CSX Corp.Blumenfeld was previously head of the e-business function for CSX Transportation, which is the corporation's rail unit. He replaces Clarence Gooden, who moves up to become CSX Transportation's senior vice president-merchandise service group.
The position changes are effective immediately. Transport Topics
Manitoba to Require Reflective Tape on Large Trucks
The Canadian province Manitoba will require trailers over 80 inches or more and having a gross vehicle weight of 10,000 pounds to meet the Canadian federal standards for reflective markings effective Sept. 1.The provincial government said in a release that the reflective materials will have to be installed on the sides and rear of the vehicles.
"Increasing the visibility of larger vehicles on our highways will reduce the potential for accidents and help save lives," said Transportation and Government Services Minister Steve Ashton.
Transport Canada regulations require trailers manufactured after January 1997 to be equipped with reflective tape or reflectors and most other Canadian jurisdictions have similar standards in place, the release said.
United States transportation authorities require this equipment on trailers manufactured as of January 1993. Provincial operators of trailers presently travelling in the U.S. have upgraded their units to meet the requirement. Transport Topics
Oil Price Falls From Seven-Week High
The price of crude oil slipped 9 cents in Thursday trading on the International Petroleum Exchange in London, coming down off of a seven-week high as traders looked for signs of increased demand, Bloomberg reported.Crude oil is distilled down to the two basic fuels for trucking -- diesel and gasoline -- so its price can have far-reaching effects on the trucking industry.
The 9-cent decline in oil prices is equivalent to 0.4% and pushed the price of crude down to $25.84 a barrel, Bloomberg said. In the United States, the price of oil was down 3 cents to $26.74 in electronic trading on the New York Mercantile Exchange.
The price of benchmark Brent crude oil in London is 1.3% higher than it was at this point in 2001, Bloomberg said. Transport Topics
Mayflower Wins $50 Million Contract
Mayflower Corp. Plc won a $50 million contract to supply truck cabs to a U.S. commercial vehicle-maker, Bloomberg reported Wednesday.The United Kingdom-based company also said it expects to receive more orders soon.
Last year the company had cut jobs, reduced spending and closed factories to reduce costs as the company saw a steep decline in the U.S. heavy truck market, Bloomberg said. Transport Topics
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MAN Expects Better Earnings in 2003
MAN AG's truck unit will report better earnings in 2003, Bloomberg reported Thursday.The division's chief executive, Hakan Samuelsson, said the German company will have a better volume of sales and will save money through its current restructuring.
He also expects the unit to break even this year before taxes. Second-quarter sales were better than the first quarter, he said, and should continue to improve the rest of the year. Transport Topics
DOT Readies Amtrak Plan
The U.S. Department of Transportation will hand over its plan to Congress to keep Amtrak trains running through the end of September "in a matter of days," Federal Railroad Administrator Allan Rutter told Bloomberg Wednesday.Amtrak brings in $140 million a year from hauling mail and other express freight, and while there is some competition between the nation's passenger railroad and trucks, there are several business relationships between Amtrak and less-than-truckload carriers.
A deal was reached in late June to prevent a shutdown of Amtrak, which needed $200 million to keep operating.
Rutter did not provide details of the plan to save the beleaguered railroad which will be considered by Congress before its recess begins on July 26, Bloomberg said. Transport Topics
U.S. Seen Unaffected by Deutsche Post Cuts
German mail and logistics group Deutsche Post World Net warned Wednesday it may cut up to 10,000 jobs, but its U.S. operations including DHL Worldwide Express should not be affected, the Journal of Commerce reported.The company said the job cuts may be needed due to the anticipated loss of revenue following the German government's decision to lower postage rates.
Deutsche Post has said the move will cost $297 million in fiscal 2003 and lead to total losses of around $1.5 billion by 2007, JoC reported. Transport Topics
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