Australian Transport News reports on the ongoing battle in the US over “hours of service” HOS reform. This battle over HOS reform has led to an increase in the use of electronic logs as TCP’s first quarter Business Expectations Survey recently found. Australia also struggles with heavy vehicle laws. Read the full article.
Results from TCP’s first quarter 2013 Business Expectations Survey were highlighted in a recent article by Commercial Carrier Journal. Nearly 70% of carriers surveyed are either already using or considering the use of electronic logs (elogs). Thirty-five percent of fleets are using e-logs on all of their trucks compared to only 25 percent when the question was asked in May of 2012. TCP says that the use of elogs is tied to better CSA scores. The survey also covered the steps carriers are taking to improve their CSA scores, especially since shippers are starting to pay more attention to these scores. Read the full article to learn more.
The next survey will launch at the beginning of May 2013. Interested carriers can sign up by clicking here.
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.
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
