Connect with us

Business

ATA Truck Tonnage Index down in March, but up over previous year

Published

on

ARLINGTON, Va. — The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index declined 1.1 percent in March after easing downward by 0.8 percent in February.

In March, the index equaled 110 (2015=100), down from 111.2 in February.

ATA revised the February decline from the originally reported 2.6 percent to 0.8 percent.

Compared with March 2017, the SA index jumped 6.3 percent, which was below February’s 7.7 percent year-over-year gain, but still well above 2017’s annual increase.

For all of 2017, the index increased 3.8 percent over 2016. In the first quarter of this year, tonnage rose 0.9 percent and 7.4 percent from the previous quarter and a year earlier, respectively.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 114.6 in March, which was 12.9 percent above the previous month (101.5).

“Despite a softer March and February, truck freight tonnage remains solid as exhibited in the year-over-year increase of 6.3 percent,” said ATA Chief Economist Bob Costello. “While I expect the pace of growth to continue moderating in the months ahead, if for no other reason than year-over-year comparisons will become more difficult as tonnage snapped back in May of 2017, the levels of freight will remain good going forward.”

Trucking serves as a barometer of the U.S. economy, representing 70.6 percent of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled nearly 10.5 billion tons of freight in 2016. Motor carriers collected $676.2 billion, or 79.8 percent of total revenue earned by all transport modes.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 10th day of the month. The report includes month-to-month and year-over-year results, relevant economic comparisons and key financial indicators.

 

 

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

4 ex-Pilot Flying J workers get probation in fraud plot

Published

on

Headquartered in Knoxville, Pilot Flying J has more than 750 retail locations in 44 states, Roadside assistance available at over 135 locations nationwide and growing as part of its Truck Care program, 44 Goodyear Commercial Tire and Service Centers, and 34 Boss Shops.(Courtesy: PILOT FLYING J)

CHATTANOOGA, Tenn.  — Four former account representatives from nation’s largest fuel retailer will serve probation for their roles in a plot to cheat trucking companies.

The Knoxville News Sentinel reports ex-Pilot Flying J employees Holly Radford, Lexie Holden, Janet Welch and Ashley Judd were sentenced Wednesday. They admitted to skewing the books to cover up the fraud prosecutors say was committed by their male bosses. Nearly 20 former workers were accused in the $56.5 million scheme.

The judge also ordered Radford, Welch and Judd to do community service. He exempted Holden because she works full-time and runs a business.

Prosecutors say the company lured trucking companies with discounts on fuel, then shortchanged them.

The Knoxville-based company is controlled by the family of Cleveland Browns owner Jimmy Haslam and former Tennessee Gov. Bill Haslam.

Jimmy Haslam has long contended he knew nothing about the fraud scheme. Gov. Bill Haslam said he was not active in company affairs.

Continue Reading

Business

ACT Research For-Hire Trucking Index: volumes up, but supply-demand balance loosens

Published

on

The January fleet purchase intentions reading indicated an uptick in equipment demand, with 53.7 percent of respondents planning to buy trucks in the next three months, up from 52.3 percent, seasonally adjusted, in December. (The Trucker file photo)

COLUMBUS, Ind. — The latest release of ACT’s For-Hire Trucking Index showed an improvement in freight volumes and truck productivity in January, after a soft finish to 2018. The Volume Index rose to 52.0 in January from 49.0 in December.

“The recovery in the Volume Index was offset by an increase in the Capacity Index in January, keeping the balance signal to the loose side,” said Tim Denoyer, ACT Research’s vice president and senior analyst. “The past three readings have shown the loosest industry supply-demand balance in almost three years, since April 2016.”

The Driver Index was in negative territory, below the neutral 50 mark, at 47.2 in January 2019. “Based on fleet feedback, we added a question about the driver market in January 2018, and after a year, we are now able to start reporting on this metric,” Denoyer said. “The January 2019 reading, as well as the December 2018 reading of 47.0 were up significantly from the 38.6 recorded in January of 2018. The index has been below the neutral 50 level since we started asking the question last year. However, the rise in the index over the past year signals modest easing of ongoing driver constraints.”

The January fleet purchase intentions reading indicated an uptick in equipment demand, with 53.7 percent of respondents planning to buy trucks in the next three months, up from 52.3 percent, seasonally adjusted, in December.

“After record orders last year, this series should remain elevated as long lead-time truck orders are built and hit the highways,” Denover said. “Over the past 12 months, the Buying Index has averaged a strong 57.6% reading.”

ACT is a publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market.

For more information, visits www.actresearch.net.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continue Reading

Business

dexFreight initiates early adopters program

Published

on

By joining the Early Adopters Program, companies will have exclusive access to early release versions of the dexFreight platform. (Courtesy: DEXFREIGHT)

SUNRISE, Fla. — dexFreight, providers of a decentralized, blockchain-based logistics platform, has launched the dexFreight Early Adopters Program for U.S. shippers, carriers, brokers, and forwarders.

“The dexFreight platform built on blockchain technology allows supply chain stakeholders to transact and collaborate more efficiently, transparently and securely,” said Rajat Rajbhandari, CEO and co-founder of dexFreight. “Through our Early Adopters Program, we will be using the real-world expertise of logistics stakeholders to evaluate new and advanced features of our platform that will be launched in the near future. We don’t want to develop in a vacuum, and we believe the dialogue with and feedback from early adopters is vital in creating a platform that helps the entire logistics community.”

The dexFreight Early Adopters Program is open to U.S.-based companies. By joining the Early Adopters Program, companies will have exclusive access to early release versions of the dexFreight platform. As members of the Early Adopters community, they will have the opportunity to interact with dexFreight’s development and product teams.

Early Adopters Program participants will have free access to the platform’s basic features for three months and to advanced features at no charge when they first become available, and then at a discounted rate, Rajbhandari said. They will receive early notifications about new features before they are offered to all platform users.

Basic features of the dexFreight platform include TMS/FMS integration, load and capacity matching, safety data, rate negotiation, accessorial selection, P&D scheduling, shipment tracking, navigation and communication, and payments built on blockchain technology from the ground up.

Plans for the platform include escrow services, tokenized invoices, rate forecasting, on demand warehouse, load chaining, fleet optimization, bid preparation and risk prediction features, as well as third party apps.

In October 2018, dexFreight completed its first blockchain-based shipment using smart contracts. The platform, an ecosystem of open source protocols, blockchain and machine learning technologies, allowed the shipper and carrier to directly connect, negotiate rates, and schedule pickup and delivery.

For more information, visit www.dexfreight.io.

Continue Reading

Trending