CEVA Logistics will lease more than 1,000 trailers from Ryder System, bringing its total U.S. trailer capacity to more than 4,700 units, the company said Monday.
The 1,044-trailer deal expands CEVA’s full-service contract with Ryder, which already leases more than 200 power units to the $9.7 billion logistics provider.
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The trailers are lighter weight 4000D-X units with composite sidewalls from Utility Trailer. Terms of the long-term vehicle lease were not disclosed.
CEVA' profit accelerated in the first quarter, growing 36.5 percent year-over-year on improving freight management margins across the company's global network.
In the U.S., the Netherlands-based logistics operator offers truckload and less-than-truckload transportation as well as dedicated carriage and freight brokerage.
Under the 10-year equipment contract, Ryder will provide CEVA with a dedicated fleet coordinator who will use a GPS system to keep track of the trailers.