News Briefs - July 31
The Latest Headlines:
- Calif. Garbage Fleet Switching to Natural Gas
- USF Reddaway Opens New Terminals
- TransForce Completes its Purchase of Canpar
- Chicago-Area Factory Activity Slips in July
- West Virginia Agency to Focus on Coal Trucks
- Oil Price Jumps on API Report of Inventory Drop
- Texas Cities Want 'No Truck' Lane on I-35
- Frozen Food Express Shows 2Q Earnings Gain
- Endeavour Capital Buys Stake in Market Transport
- USF Reddaway Opens New Terminals
Calif. Garbage Fleet Switching to Natural Gas
The California town of Sunnyvale is switching its fleet of garbage and recycling trucks over to natural gas power, the San Jose Mercury News reported Wednesday.Natural gas has often been discussed as a cleaner alternative to diesel fuel for the trucking industry.
A fleet of 20 trucks was recently delivered to Specialty Solid Waste & Recycling, the company that handles Sunnyvale’s waste hauling, adding to the 24 natural gas-powered vehicles already in the fleet. Also a new publicly accessible natural gas fueling station has been set up by the company, the paper said.
USF Reddaway Opens New Terminals
Oregon-based less-than-truckload carrier USF Reddaway Inc., an operating company of USFreightways Corp., announced Wednesday the opening of two new terminals, one in Salem, Ore., and the other in the Port of Tacoma, Wash.These replace smaller facilities and will allow for future growth, the company said in a press release.
The Salem terminal opened in March and has 30 doors over nine acres of land.
The Tacoma terminal, located at the southern end of Puget Sound, is located on approximately 11 acres with 57 doors and will serve the Tacoma market in addition to the company's Alaska operations. It opened for business in June.
Based in Chicago, USFreightways is ranked No. 8 on the 2002 Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
(Click here for the full press release.)
A NAME="story9">
TransForce Completes its Purchase of Canpar
Canadian transportation and logistics company TransForce Inc. said Wednesday that it has completed its purchase of Canpar Transport Ltd.TransForce paid $24.95 million for Canpar, the company said. TransForce financed the purchase with a bridge load, according to a press release.
Based in Montreal, Quebec, TransForce is ranked. No. 58 on the 2002 Transport Topics 100 listing of the largest trucking companies in the United States and Canada. It is the third-largest Canadian company on the list. Transport Topics
Chicago-Area Factory Activity Slips in July
Manufacturing activity in the industrial Midwest grew at a slower pace in July than it did in June, a study by the Institute of Supply Management-Chicago showed Wednesday.A slowing of factory output is bad news for the trucking industry.
The ISM-Chicago said that its factory index fell to 51.5 in July from 58.2 in June. Economists had forecast a decline to 56 for the month, Bloomberg said.
The ISM bases its reports on a figure of 50, with readings above 50 indicating expansion. Bloomberg said that some economists feel that the days of rapid recovery and expansion are behind us and that the economy should see some sustained, slower growth as the year moves ahead. Transport Topics
A NAME="story6">
West Virginia Agency to Focus on Coal Trucks
The West Virginia Office of Miners' Health Safety and Training will use a boost in funding to increase staff and focus more on safety and inspections of coal truck drivers and other contractors, the Associated Press reported Saturday.Director Doug Conaway said he wants much of the funding to go toward the inspection of the 2,390 mining contracting companies registered with his office, including the 693 coal trucking companies, AP said.
The story said that in order to operate a coal truck on mine property, drivers must obtain a coal truck driver's certification card after undergoing training. Drivers must update their training each year, although the agency does not track recertification, AP said.
Since 1992, the office has issued 7,340 coal truck certification cards, but the agency said it has no idea how many of those card holders are currently driving coal trucks, according to AP. Transport Topics
Oil Price Jumps on API Report of Inventory Drop
Prices for crude oil rose following a report by the American Petroleum Institute that showed a larger-than-expected decline in U.S. oil inventories last week, Bloomberg said.The report by API showed declines in not only crude oil stocks, but also in reserves of gasoline and distillate fuels including diesel fuel. Tighter supplies of crude oil and of motor fuels could push prices higher in coming weeks.
In electronic trading at the New York Mercantile Exchange, the price of industry benchmark Brent crude for September delivery rose 18 cents overnight to $27.54 a barrel, Bloomberg said. Transport Topics
Texas Cities Want 'No Truck' Lane on I-35
The central Texas cities of Round Rock, Austin, San Marcos and Georgetown are joining forces to prohibit large, commercial trucks from using the far left lane of Interstate 35, the Austin American Statesman reported last week.More than 16,500 trucks and 132,000 cars use this stretch of I-35 each day, the paper said. This highway is a major artery for shipping goods into and out of Mexico.
The ban is likely to take effect next spring, after these cities pass the legislation and hold public hearings later this year, the story said. Other smaller cities along the highway are also likely to join the coalition.
Tentative plans would allow truckers to use the far left lane for passing only. Fines for breaking the law have not been determined. Transport Topics
Frozen Food Express Shows 2Q Earnings Gain
Refrigerated trucking company Frozen Food Express Industries Tuesday reported second-quarter net income of $303,000, or 2 cents a share, compared with last year's $248,000, which also rounded to 2 cents a share.For the period ended June 30, the Dallas-based truckload and less-than-truckload carrier had income from operations of $836,000, compared to last year's $856,000. However, the FFE press release said pre-tax income improved from $426,000 last year to $655,000 this year.
Frozen Food Express Industries is ranked 45th in the Transport Topics list of the 100 largest trucking companies in the United States and Canada. Transport Topics
(Click here for the press release.)
Endeavour Capital Buys Stake in Market Transport
Market Transport Ltd., a transportation services company, said Monday Endeavour Capital has acquired majority ownership in the company.As part of the deal, Market's founder Peter Stott will retain ownership and management will own an increased stake in the company.
"We are delighted that Endeavour Capital will be our strategic and equity partner as we take Market Transport to the next level of customer service and profitable growth," said Brian Fitzgerald, president and chief executive officer. Transport Topics
(Click here for the full press release.)
