Results from TCP’s second quarter 2013 Business Expectations Survey were highlighted in a recent article from FleetOwner.com.
Truck capacity is tightening, but many carriers are still not earning a rate of return large enough to warrant an expansion of their fleets. Stagnant cargo volumes combined with higher operating and equipment costs will likely force carriers to hold back expansion efforts for the foreseeable future.
Read the full article here.
There is an increasingly positive outlook for volume and rate growth in the industry. Both TheTrucker.com and TruckingInfo.com recently shared encouraging data from TCP’s 2nd quarter industry survey. The survey indicated that eighty percent of all carriers have seen rates hold steady over the past quarter. Furthering optimism, seventy-three percent of carriers are expecting rates to increase over the next year.
“Even with modest improvement in freight demand, carriers are anticipating much-needed higher rates from customers,” says Steven Dutro, TCP partner.
TheTrucker.com full article.
TruckingInfo.com full article.
FleetOwner shares results from Transport Capital Partners’ First Quarter Business Expectations Survey which found that broker usage amongst carriers has increased in recent months. The percentage of carriers using broker freight services increased from 16% in August 2012 to 25% in February of 2013. TCP Partner Steven Dutro is quoted in the article: “Freight brokers continue to provide loads that improve asset utilization and efficiency as customer demand fluctuates.” Dutro also discusses how the increase in broker services is a reflection of the ebb and flow of seasonal freight. Read the full article.
Transport Capital Partners’ First Quarter 2013 Business Expectations Survey found split reactions to the fuel economy and maintenance costs of 2010 engines versus 2007 engines reports FleetOwner.com. Over half of the carriers surveyed have seen fuel economy improve with 2010 engines, but 40% say that there has been no change. There was an even larger discrepancy between large carriers (over $25 million) and small carriers.
“Carriers differ in their measurement systems and tracking procedures, but the real story here is that very few carriers have seen a decline in fuel economy with the 2010 engines,” said Steven Dutro, TCP partner. “Most of the carriers we talk to have reported overall improvement in mpg in recent years from a combination of technology and training efforts.”
There are mixed results from truckers on the new 2010 engines versus 2007 engines. TheTrucker.com shares findings from Transport Capital Partners’ first-quarter 2013 Business Expectations Survey. Over half of the carriers surveyed say that fuel economy has improved with new engines, but almost 40% report that there has been no change.
“Carriers differ in their measurement systems and tracking procedures, but the real story here is that very few carriers have seen a decline in fuel economy with the 2010 engines. Most of the carriers we talk to have reported overall improvement in miles per gallon in recent years from a combination of technology and training efforts,” states Steven Dutro, TCP Partner.
Read the full article to learn more.
Would you like to share your experiences and expectations with others in the industry? Click here is you are a trucking company executive or owner interested in participating in the next survey.
FleetOwner reports on the findings from the first quarter 2013 Transport Capital Partners Business Expectations Survey that found that a growing number of carriers have made the switch to electronic logs (elogs). Thirty-five percent of the carriers surveyed are now using elogs and other carriers are strongly considering. The increase in the number of carriers using elogs may be due to a likely federal mandate. While the Federal Motor Carrier Safety Administration has attempted to mandate the use of electronic onboard recorders (EOBRs) in the past, the implementation of new hours-of-service regulations in July might force a rule to finally pass. TCP Partners Steven Dutro and Richard Mikes were both quoted in the article. Read the full article.
The Second Quarter Business Expectations Survey will launch at the beginning of May. Interested carriers can sign up by clicking 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.
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.
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
