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The addition of AAA Cooper to Knight-Swift’s portfolio will make LTL the company’s second-largest segment. The trucking industry saw a handful of mergers and buyouts in the first six months of the year. Among the more notable moves was when CCJ Top 250 No. 1 carrier UPS announced in January the sale of its UPS Freight business to TFI International (No. 8) for $800 million. In May, CSX Corp. acquired Quality Carriers from Quality Distribution (No. 34), and Hirschbach Motor Lines (No. 64) acquired Eagan, Minnesota-based Lessors, Inc., a nearly 300-truck reefer fleet last month. CCJ Symposium: Time to Transform Future-proofing your fleet operations for the road ahead ....
After navigating the disruption and uncertainty wrought by the coronavirus pandemic last year, the trucking industry has entered a historically strong business environment that many analysts expect to endure for the rest of 2021 and beyond. Optimism abounds for the overall U.S. economy as a growing percentage of the population receives COVID-19 vaccinations and pandemic-related safety restrictions continue to ease, paving the way for a boom in consumer spending. Some observers have even drawn parallels to last century’s “Roaring ’20s,” a period of economic prosperity in the aftermath of the 1918 influenza outbreak and the end of World War I. ....
Feb 16, 2021 Lack of load availability last spring and the cheap rates on the loads that were available were the prime contributing factor in the spike in carrier failures last year, said Donald Broughton, principal and managing partner of Broughton Capital. Of little surprise, the number of failures by trucking companies in 2020 jumped compared to years prior as the economic effects of the COVID-19 pandemic and associated shutdown orders converged on fleets’ operations and per-mile spot market rates plunged, according to transportation-focused economic analysis firm Broughton Capital, which tracks annual motor carrier failures using debt and default data. “What happened is simple in late March and early April, we had rates plunge to levels below what the variable costs to operate a trucking company are,” said Donald Broughton, principal and managing partner of Broughton Capital. “Rates fell below the cash costs of operation across all modes. Secondly, ....
February 4, 2021 For a little more than 15 years, UPS attempted to shoehorn a less-than-truckload segment into its parcel delivery monolith. Last week, the CCJ Top 250 No. 1 carrier announced the end of the experiment and the sale of its UPS Freight business to TFI International ( CCJ Top 250, No. 8) for $800 million – about $400 million less than UPS paid in 2005 for Overnite Transportation, the acquisition that gave rise to the division. While UPS at the time lauded its new subsidiary for its “extensive transportation network, a strong focus on operational efficiency and flexibility,” the parent company’s inability to leverage that efficiency and flexibility was ultimately its undoing, said Donald Broughton, Principal and Managing Partner at Broughton Capital. ....