U.S. diesel prices have fallen to a low not seen since Avatar raked in hundreds of millions of dollar at movie theaters across the country.
Refrigerated trucking operator Marten Transport nearly doubled net profit in the first quarter while expanding dedicated operations as shippers scrambled to secure truck capacity.
A resurgent economy kick-started the revenue engines of the largest U.S. trucking companies in 2014, fueling the most rapid growth those big freight haulers have seen in three years.
The truck driver shortage was supposed to push freight from the highways to intermodal rail, but now that shortage may be the biggest threat to intermodal growth. Drayage truck drivers are increasingly hard to find, and that hurts intermodal service even when trains run on time, speakers at the NASSTRAC Shippers Conference said.
U.S. freight shipments increased just 0.3 percent in March, down 5.1 percent year-over-year, according to the Cass Freight Index.
The pace of truck rate increases could slow this year, if manufacturing continues to grow slowly and low energy prices deter capital investment, Wall Street analysts said. However, they see a storm coming in 2016-17.
The U.S. House and Senate may have to act to preserve changes to a controversial restart provision in 2013 truck driver hours-of-service rules if a report on those rules isn't ready by Sept. 30, NASSTRAC officials told shippers.
Stronger pricing, better equipment utilization and strong intermodal growth helped lift the Arkansas-based carrier's fiscal first quarter profit to $91.9 million.
The Feb. 20 tentative agreement on a new coastwide labor contract was a godsend to harbor truckers in Los Angeles-Long Beach, with turn times improving noticeably, according to researcher Val Noronha.