Month: March 2018

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Trucker News

More than 80% of carriers optimistic about 2018: TransCore

Canadian carriers and brokers benefited from a strong market in 2017, and are optimistic about the current year, according to a new report from TransCore Link Logistics. Seventy-three percent of respondents were carriers, while 27% were brokers. Most reported that the increase in load volumes seen in 2017 positively impacted their businesses, including 54% of carrier respondents. 21% of carrier respondents said the increase in volumes had a negative effect on their business, primarily because they didn’t have sufficient trucks and drivers to keep up. Those carriers cited an inability to find quality, experienced drivers, as a problem.
Forty percent of brokers said the increase in load volumes positively impacted their business, while 31% said it was negative. Only 38% of responding carriers said their expenses increased in 2017, compared to 2016. The technology was a key area of investment for carriers, with 71% saying they invested in technology. Fifty-two percent of carriers said they invested in trucks, and 45% invested in new staff. Other areas of investment for carriers included: building space; trailers; security; and electronic logging devices. “It is possible for brokers to expand into the carrier sector by purchasing trucks,” TransCore noted. “With freight volumes at an all-time high, brokers may be struggling to find trucks. This could lead them to invest in a trucking division of their own.”
In terms of profit margins, half of the carriers reported 5% or better margins in 2017; with 40% between 5-15% and only 10% of carriers had margins greater than 15%. This means half of the carriers had profit margins below 5%. But 82% of carriers said they are optimistic about 2018. A quarter of brokers said their profit margins were above 15%, with 90% having profit margins greater than 5%. Not surprisingly, carriers with higher profit margins were less affected by the U.S. exchange rate. Seventy percent of responding carriers and brokers said the “Trump Effect” had no impact on their businesses. More than half of carriers and brokers felt freight volumes, rates, and fuel prices would rise in the first quarter of 2018.

Source: https://www.trucknews.com/

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Trucker News

Bison Transport, Central Oregon Truck Company Win TCA Best Fleets to Drive For

Central Oregon Truck Company and Bison Transport have been named the overall winners of the annual 2018 Best Fleets to Drive For the contest, put on by the Truckload Carriers Association and its partner CarriersEdge.Central Oregon Truck Company of Redmond, Ore., won in the small fleet category, sponsored by EpicVue, and Bison Transport of Winnipeg, Manitoba, Canada, won in the large carrier category, sponsored by Northbridge Insurance.
“These two companies are shining examples of consistency and innovation in trucking,” said John Lyboldt, TCA’s president. “Congratulations to Central Oregon and Bison for continuing to go above and beyond to create exemplary workplaces for their drivers.”Best Fleets to Drive For is an annual survey and contest that recognizes North American for-hire trucking companies providing the best workplace experiences for their drivers. Central Oregon also received top marks for their compensation programs and operational strategy.
Bison Transport has placed in the Top 20 for eight of the ten years since the Best Fleets program was initiated, including three consecutive years winning Best Overall Large Fleet. This year also marks Bison’s fourth total Best Overall Large Fleet title, the first fleet to reach this milestone.With a 1,456-truck fleet, the company continues to find new ways to improve its offerings for drivers.

Source: http://www.truckinginfo.com/

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Trucker News

Uber Freight Seeks to Corral Truckers With Discount Program

Uber Freight has an offer that it hopes truck drivers cant refuse thousands of dollars in discounts on Navistars International brand big rigs if truckers use its freight-matching service. Uber also will provide price breaks for maintenance, tires, gas and cellphone services. that have materialized as freight demand climbs and more segments of the trucking transportation industry go digital. The discount program piggybacks on existing relationships between third-party vendors and Uber Freights parent company, Uber Technologies.
The ride-hailing business has long offered price breaks on gas and other services to Uber drivers. Offering a fuel card is a natural extension of what weve done so far with our mission to make it more affordable and efficient for truckers, said Eric Berdinis, Uber Freight product lead. When we talked to Uber Freight they were on a similar pathway. To be eligible for Navistar vehicle discounts, drivers must use the Uber Freight app at least 10 times. Uber Freight isn’t exactly reinventing the wheel by rolling out a loyalty program. Uber Freight Plus competes with existing fuel card discounts and loyalty programs offered by truck stop networks, trucking associations, and other industry groups. Some truckers are trying out the Uber program after having negative experiences with rivals.
When I heard about the Uber fuel card I was looking forward to signing up, he said. Uber Freight pegged the program’s announcement to the opening of the annual Mid America Trucking Show, which begins this week in Louisville, Ky. Ubers Advanced Technologies Group manages Uber Freight and the company’s autonomous vehicle development programs. Uber Advanced Technologies Group announced earlier in March that it had been testing autonomous trucks in Arizona since late 2017 as part of an experiment to blend self-driving and conventional driver-operated trucks.

Source: https://www.trucks.com/

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Trucker News

Brokers Issue Forecasts for Knight-Swift Transportation Holdings Inc’s FY2018 Earnings (KNX)

Morgan Stanley started coverage on shares of Knight-Swift Transportation in a research note on Wednesday, December 13th. Knight Equity raised shares of Knight-Swift Transportation to a buy rating in a research note on Sunday, November 26th. Barclays raised shares of Knight-Swift Transportation from an underweight rating to an equal weight rating and lifted their price target for the stock from $47.00 to $50.00 in a research note on Thursday, February 1st. UBS Group lifted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, Stephens lifted their price target on shares of Knight-Swift Transportation from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, January 31st. Knight-Swift Transportation has an average rating of Buy and an average target price of $49.60.
Knight-Swift Transportation has a 12-month low of $26.68 and a 12-month high of $51.94. Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters consensus estimate of $0.39 by $0.13. Knight-Swift Transportation had a net margin of 12.58% and a return on equity of 5.92%. Knight-Swift Transportations payout ratio is currently 8.35%. bought a new stake in shares of Knight-Swift Transportation during the 4th quarter valued at about $231,000.
Grandeur Peak Global Advisors LLC boosted its stake in Knight-Swift Transportation by 119.3% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 591,570 shares of the transportation companys stock valued at $25,863,000 after purchasing an additional 321,850 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Knight-Swift Transportation during the 4th quarter valued at about $1,284,000.

Source: https://www.thelincolnianonline.com/

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Trucker News

Kenworth Donates T680 to Award Honoring Veterans Who Become Truckers

For the third consecutive year, Kenworth has donated a T680 Advantage to the Transition Trucking: Driving for Excellence program recognizing the top rookie military veteran truck drivers. Armed Forces into a career in trucking. Around 200,000 service members transition out of the military into the private sector every year, and the program is part of an outreach to veterans informing them of career opportunities within the trucking industry, according to Fastport President Brad Bently.Kenworth recognizes the importance of our veterans, and the donation of our on-highway flagship Kenworth T680 …

We encourage those transitioning from military service to consider the trucking industry as their future career, and urge fleets in America to nominate their best drivers who have served to protect our country.The donated T680 Advantage is equipped with a 76-inch sleeper, Paccar MX-13 engine with 455 hp, and a Paccar 40,000-pound tandem rear axle.The top driver will be determined by an expert panel of judges.

Source: http://www.truckinginfo.com/

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Trucker News

Local program helps Welfare recipients find jobs in the trucking industry

“It’s pretty incredible getting in the truck and feeling so much power,” said Luna.She works at Lawson Rock and Oil in Fresno and is now in the driver’s seat after passing a truck driver training program that takes people off welfare and to work.The program was the brainchild of owner John Lawson and Leann Eager of the Economic Development Commission (EDC) after a chat about High-Speed Rail turned into the need for drivers. Lawson donated his land and time to create the program.
“When you’ve got the truck driving school on your property, you get your pick of the best ones in class,” said Lawson. They learn the components of the truck, how to do a proper pre-trip, inspect their vehicle,” said Glen Wills, truck driving instructor.Since it started 2 and a half years ago, 138 people have been trained.”Everybody that wants a job, can get a job. And in the welfare to work world, 82 percent is miraculous,” said LeeAnn Eager, Fresno County EDC President, and CEO.Pay for drivers can range from $15 dollars and go up. The program is free for those who qualify. So when it did arise, I went for it,” said Luna.
The New Employment Opportunities (NEO) program pays for a new employees salary for the first three months and there’s more compensation after that. We’re partnering with the Fairgrounds to have the training over there,” said Eager.A success story created here in the Valley.Interested applicant must qualify as ready to work.

Source:http://abc30.com/

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Trucker News

Trucking company sued for $3.25 million for wreck

CHEMULT — A California trucking company has been sued for $3.25 million in Klamath County Circuit Court by a man injured in a semi-truck collision near Chemult two years ago.On Thursday, Scott Hinojosa, of Jacksonville, filed suit against FDF Trucking, of Indio, Calif., for a wreck March 9, 2016, on Highway 97.
Also named as defendants were FDF Trucking owner Fabian Fernandez, of Indio, Calif., and truck driver Rony Espinoza-Martinez, of Las Vegas, Nev.The suit claims Hinojosa was a passenger in a Dodge sedan traveling on Highway 97 near Chemult in icy conditions when a semi driven by Espinoza-Martinez attempted to pass the Dodge.
This has led to an inability to manage personal affairs and enjoy his life, said the suit.Hinojosa claims Espinoza-Martinez was responsible for driving carelessly in unsafe conditions, Fernandez was responsible for failing to properly train Espinoza-Martinez, and FDF Trucking was responsible as Espinoza-Martinez was on the job at the time.
Hinojosa is seeking $220,000 for current medical expenses, $350,000 for future medical expenses, $50,000 for lost wages, $887,040 for lost earning power and $1.75 million in non-economic damages.
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Trucker News

Starsky Robotics wants to fix long haul trucking, save jobs

Starsky Robotics ” might have you believe, the world of long-haul trucking isn’t a slam-bang adrenaline-fueled thrill ride. But Florida startup wants to change all that by making autonomous semi a reality.Starsky is doing a pretty good job of taking autonomous trucks out of the realm of the theoretical and getting them onto the road. Just this month, the company conducted the first ever fully unmanned autonomous truck drive on a public highway. Unmanned means unmanned too, there were no emergency drivers or engineers onboard. The truck traveled for 7 miles on a stretch of Florida highway, admittedly one that was dead-straight and empty, without incident.

Starsky has previously used manned but autonomous trucks to deliver aid in the wake of Hurricane Irma. One of its trucks on an aid trip was able to complete a 68-mile trip with no safety driver interventions. The thing that makes the Starsky approach a little different than that of some other autonomous trucking companies is that it’s only focused on autonomy on the highway, where it’s simpler to do cleanly and safely. For “first mile” and “last mile” portion of a truck’s trip, a remote driver takes over and navigates the more complex city streets.Starsky isn’t so much trying to replace truck drivers as take away the tedious and dangerous parts of their jobs while keeping them around for the parts that require real human skill.

There are a few other, infrastructure-based limitations to be worked out — who puts the diesel in the autonomous semi in the middle of the night at a rural truck stop? But the Starsky Robotics approach seems to have a real chance of actually becoming a thing, even if it isn’t the sexiest solution.Now I just need to convince Starsky to let me remote drive a semi-truck.

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Source: https://www.cnet.com/