As reported by Transport Topics, more carriers are using electronic logging on their trucks than in the past. According to a survey by Transport Capital Partners, 35% of carriers have electronic logging on their whole fleets, up from 25% last May. A majority of truckers are using or testing electronic logging, while 10% said they were considering the new tool, but have yet to implement it.
Read the full report here.
Citing the Business Expectations Survey, conducted quarterly by Transport Capital Partners, Truckinginfo.com reports that carriers are increasingly installing e-log systems on their fleets. The survey shows that 35% of carriers have implemented e-logging systems on their entire fleet. Just 10% of survey responders report that they have yet to begin implementation.
Another trend from the survey indicates that carriers are making efforts to improve CSA scores, but not without expense. “The cost of compliance, along with decreasing productivity, the corresponding decrease in driver earnings, and the planned tightening of hours-of-service rules are part of the regulatory burden which has both directly and indirectly impacted carriers,” said TCP partner Richard Mikes.
Read the full article at Truckinginfo.com.
FleetOwner.com reports on the results of the Transport Capital Partners Business Expectations Survey. The first quarter 2013 survey found that carriers are optimistic in their plans to increase capacity in the year ahead. Just over a third of carriers surveyed plan to add 5% or less in capacity, while 20% of carriers plan to increase by 6-10%.
The article also discusses the American Trucking Associations’ (ATA) For-Hire Truck Tonnage Index for February. The report shows that tonnage has increased four months in a row – something that has not happened since late 2011.
Bob Costello, ATA chief economist, is also optimistic:
“Fitting with several other key economic indicators, truck tonnage is up earlier than we anticipated this year. While I think this is a good sign for the industry and the economy, I’m still concerned that freight tonnage will slow in the months ahead as the federal government sequester continues and households finish spending their tax returns. A little longer term, I think the economy and the industry are poised for a more robust recovery.”
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To learn more about carriers’ expectations for capacity increases, read the full article.
Steven Dutro, TCP managing partner, was recently quoted in an article by Transport Topics about Transport Capital Partners’ First Quarter 2013 Business Expectations Survey. The survey that found that almost two-thirds of carriers plan to increase capacity in the next 12 months. TCP believes that the increases in capacity will most likely be intermodal, dedicated carriage, and other specific business lines.
“Going into the recession, publicly owned carriers cut trucks 20% to 25%, and they have not added back more. Most trucks are being sold as replacements,” Steven Dutro, TCP partner, said in a statement.
For more information about the survey, visit the survey page: https://transportcap.com/industry-survey.
To read the full article, click here.
According to multiple trucking industry researchers, economy conditions point towards an increase in rates and profitability. According to the Business Expectations Survey, conducted quarterly by consulting firm Transport Capital Partners, two-thirds of respondents are “optimistic” that volumes and rates will increase over the next year.
“With the present tight supply of trucks, an increase of just 1% to 2% over forecasted GDP growth could spike rates upwards at any time, which would help to cover costs,” noted TCP partner Richard Mikes.
On the other hand, TCP partner Steven Dutro suggested that the limited availability of drivers and impending HOS rules could damper the benefits of a slowly recovering economy.
Read the full article at FleetOwner.com.
BulkTransporter.com reports on the most recent trucking industry survey by Transport Capital Partners. The survey found that for the first time since February of 2012, the trend line for carriers expecting rates to increase over the next twelve months went up. While freight rates remained the same for a majority of carries over the last three months, there are optimistic expectations for increases in both business volumes and freight rates in the next 12 months. For more information, click here to read the full article.
At the recent Truckload Carriers Association (TCA) Convention in Las Vegas, Transport Capital Partners (TCP) was pleased to make a contribution to the TCA Scholarship Fund. The fund provides up to $6,000 per year scholarships to full-time college students associated with the truckload industry. TCP is excited to invest in the next generation of leaders in the trucking community. For the 2012-2013 season, TCA provided scholarships to 24 students in our trucking community. To learn more about this year’s recipients and the TCA scholarship fund, click here.
TCP Partners Miller Welborn, Jim Parham, and Steven Dutro with TCA Representative
Lana Batts, Partner with Transport Capital Partners (TCP), was recently quoted in an article by TruckingInfo.com about the increase in fleet acquisitions and mergers in recent months. TCP is an advisory firm that facilitates merger and acquisitions for trucking companies. According to Batts, “we are just at the beginning of the cycle” for M&A activity. There are a number of businesses that are currently looking to sell, and it looks like this will continue for the forseeable future. Batts also says that the “uncertainty about the number of taxes that carriers pay, such as the ‘Obamacare’ tax increase, fuel taxes, tolls, etc., have many carrier executives scratching their heads and wondering if they should stay in the business.”
TCP recently conducted its first quarter Business Expectations Survey which included questions about carriers’ expectations for buying or selling a company in the next 18 months. These results will be released in the next few weeks.
To read the full TruckingInfo.com article, click here.
