P.M. Executive Briefing - July 19
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Transportation Moving Forward Rapidly with E-marketplaces, IDC Says
IT industry analyst International Data Corp. reports the transportation industry is seeing many new business-to-business e-marketplaces springing up.IDC's report, "Driver's Seat Still Open - A Closer Look at Logistics eMarketplaces," analyzes new developments regarding transportation B2Bs and the key players in the growing marketplace.
The report also predicts that the many sites available now will begin consolidating within the next year to 18 months. Transport Topics
Consumer Price Index Rise Blamed on Jump in Energy Prices
The U.S. Labor Department reported a 0.6% increase in the Consumer Price Index this week, the largest increase since March, and various reports attribute the rise to increasing energy prices.For the trucking industry, the rising energy costs have resulted in a higher Producer Price Index, said Bob Costello, chief economist for the American Trucking Associations. Trucking companies are increasing freight rates and fuel surcharges.
A related Reuters story this week reported that U.S. oil companies are expecting very healthy second-quarter profits due to continually increasing prices. The Associated Press reported that energy prices went up 5.6% in May, accounting for higher transportation costs, including airfare. Transport Topics
CNF Inc. Announces Second Quarter Earnings
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Company CEO Gregory L. Quesnel said in the report that the second quarter results were "in line with expectations." Transport Topics
TruckersB2B Tripled Number of Companies Using Its Fuel Network In June
TruckersB2B, a business-to-business providing discounts on fuel, equipment and other services, reported Wednesday that the number of trucking companies using the network tripled in June and fuel purchases doubled.In March, when the website was launched, 37 companies used the fuel network. By May the number had grown to 420 companies, and then more than tripled by June, with 1,300 companies using the network that month. The number of gallons of fuel these companies purchased more than doubled from May to June, the company said.
TruckersB2B is a subsidiary of Celadon Group. Transport Topics
Ohio Ponders Ways To Improve Interstate 75
Ohio Department of Transportation officials are gathering public comment on ways to improve Interstate 75, the Associated Press reported Wednesday.The interstate, built in the 1950s and designed for a 20-year lifespan, carries the heaviest amount of truck traffic in the state – moving $25 billion in freight yearly from northern to southern Ohio. Vehicle miles are expected to increase by 40% in the next two decades, an ODOT engineer said in the article.
ODOT will also study traffic volumes, accident rates, pavement and bridge conditions and construction plans along I-75. Transport Topics
Transportation Companies Among Best Places to Work in IT
Several transportation-related companies are among the 100 listed as this year's "Best Places to Work in IT (information technology)" by Computerworld.GATX Rail (No. 17), International Truck and Engine Corp. (No. 45), J.B. Hunt (No. 60) and Roadway Express (No. 78) all made the list, which was headed by The Home Depot Inc.
Using an online survey of IT executives, Computerworld determined their top 100 based on responses regarding criteria such as companies' benefits, training and development, average salary increases, percentage of staff promoted, turnover rates, percentages of women and minorities in management, projects and mentoring programs. Transport Topics
Ontario Trucking Company Pays $2.6 Million For Part in Bridge Collapse
The Associated Press reported Wednesday that Ontario-based T.T.K. Transport Inc. paid $2.6 million to the victims of an accident caused when one of its trucks hit a bridge.A company truck hit an Arbutus, Md., footbridge last year because it was improperly loaded. That collision caused the bridge to collapse and pieces to fall onto three cars. The settlement was divided among the three people injured and the family of the man killed in the accident, plus the state of Maryland received $100,000 for damage to the bridge, the article said. Transport Topics
TCT Logistics Acquires Daily Transport Canada
Canadian transportation and logistics company TCT Logistics announced Wednesday that it has acquired Daily Transport Canada Inc., parent company of less-than-truckload carrier Daily Motor Freight Ltd., for $7.2 million.Already having one of the largest fleets in Canada, TCT Logistics will add 107 tractors and 161 trailers with the acquisition of Daily. Ken Lockett Jr., the principal of Daily, will join TCT as vice president of LTL operations. Transport Topics
