A.M. Executive Briefing - Oct. 31
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Trailer Bridge Reports 3Q Loss
Trailer Bridge (TRBR), which provides trucking and marine freight service to 48 states and Puerto Rico, reported Monday a third-quarter loss of 2 cents per share, up from a 20-cents-per-share loss in the same quarter of 1999. The company said it expects to report a profit in the fourth quarter of 2000. Trailer Bridge also recently expanded to a weekly direct service between Port Newark and San Juan from the previous bi-weekly service. Total volume on the Northeast-to-Puerto Rico lane increased 27.4% and 13.1% southbound and northbound over the second quarter, the company said. Transport Topics
Soft Market Results in 3Q Loss for Boyd Brothers
Softness in freight market conditions was the primary reason for a third-quarter loss of 2 cents per share, Boyd Brothers Transportation (BOYD) reported Monday.
Boyd Bros. is a flatbed carrier providing transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries. Transport Topics
Cargo Revenues Helped KLM in 2Q
The bottom line of KLM Royal Dutch Airlines got a boost from cargo, helping offset rising fuel costs during the second quarter, the New York Times reported Tuesday.A fuel surcharge on cargo rates helped, the article said. KLM said it earned 118 million euros, or $99 million, in the July-September operating period. Operating revenue rose 12%, to 210 million euros or $176 million, the paper said. Transport Topics
Globalstar Wants Trucking Business
Globalstar Telecommunications (GSTRF) is aiming at the trucking industry, as part of its effort to stem losses that have reached 60% in the third quarter, the Wall Street Journal reported Tuesday.The 3Q loss was $211.2 million, exceeding analysts' expectations, the paper said. A shift away from individual mobile-telephone subscribers and toward data transmission is planned, aimed at government, military and large corporate subscribers.
Truckers and exploration firms will be targeted, according to the paper, as well as the fishing industry and maritime users.
Globalstar's financial woes have hit partner Qualcomm (QCOM), which had a 9% drop on yesterday's Nasdaq, the paper said. Qualcomm closed at $68.13, while Globalstar closed at $2.38 - falling $3.63 after the company announced its new strategy. Globalstar is based in San Jose, Calif. Transport Topics
Viastar, Integra to Offer Fuel-Card Services to North American Truckers
Viastar Services Corp. and Integra-Corporativo announced that they have teamed up to provide fuel-card services to truckers across North America.The agreement will allow Mexican truckers in the United States to use Viastar's fuel and cash management cards, and U.S. and Canadian truckers in Mexico to use Integra's fuel-card system.
This agreement will also provide solutions for several issues regarding cross-border fuel transactions and regulatory services expected to arise upon the full implementation of the North American Free Trade Agreement, the companies said. Transport Topics
American Trucking Associations, NetAlive Launch Wireless Portal
The American Trucking Associations announced Monday it has partnered with NetAlive Inc. to launch a wireless Internet portal for its trucking information Web sites.TransportTopics.com and other sites on the Truckline network will be available via wireless communication devices such as Palm Pilots and cellular phones, ATA said.
"With NetAlive's portal software, we can give ATA members and Transport Topics subscribers across the country information they can use to make their lives easier on the road," said ATA Chief Information Officer Bob Rast. Transport Topics
Headlines From Yesterday's P.M. Briefing
- Development Costs Blamed for 28% Drop in Scania 3Q Profits
- Ryder Signs Logistics Deal With Wendy's
- Crude Prices Rise Slightly as OPEC Boosts Output
- Comdata's GoComcheck.com Announces 'Comprehensive' Fuel Info
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