TA earnings reflect improved market for truck stops in Q2

The earnings of Travelcenters of America showed significant improvement in most categories for the second quarter in comparison to 2020’s second quarter, when truck stops were rapidly adjusting to wildly swinging changes in their business because of the pandemic.

The rate of growth at TA (NASDAQ: TA) in 2021 compared to 2020 generally landed in the 20% to 25% range. For example, diesel fuel sales measured in volume were 21.2% more than last year. Nonfuel revenues from stores and retail services...

https://www.freightwaves.com/news/ta-earnings-reflect-improved-market-for-truck-stops-in-q2

After a decline, DOE/EIA weekly diesel price heads higher again

The weekly Department of Energy/Energy Information Administration (DOE/EIA) average retail diesel price resumed its upward course Monday, climbing 2.5 cents to $3.367 a gallon.

The increase comes after last week’s decline of 0.2 cents a gallon, the first after a 12-week run of increases. 

This week’s price is the highest since Oct. 22, 2018. It is up 94.3 cents a gallon from where it stood at this time last year. 

But as has oddly seemed to be the case recently, the increase came on the same day...

https://www.freightwaves.com/news/after-a-decline-doe-eia-weekly-diesel-price-heads-higher-again

FreightWaves Classics: Port of Mobile is a key Gulf Coast port

An aerial view of the Port of Mobile. (Photo: Alabama State Port Authority)

The ports of the United States are our nation’s windows to the rest of the world. Imports and exports flow through them daily, helping maintain the world’s largest economy. 

A key Gulf Coast port is located in Mobile, Alabama. It is one of the top 20 U.S. ports by volume. Located along the Mobile River where it empties into Mobile Bay, the Port of Mobile has  deepwater terminals with direct access to 1,500 miles of inland and intracoastal waterways. These waterways serve the Great Lakes, the...

https://www.freightwaves.com/news/freightwaves-classics-port-of-mobile-is-a-key-gulf-coast-port

Former Roadrunner CFO guilty in $245M securities, accounting fraud scheme

Former Roadrunner CFO Peter Armbruster found guilty

The former CFO of Roadrunner Transportation Systems was convicted of violating federal securities laws in a complex, $245 million securities and accounting fraud scheme.

A federal jury convicted Peter R. Armbruster, 62, of Milwaukee, on four counts, including securities fraud, misleading Roadrunner’s auditors and two counts of falsifying Illinois-based Roadrunner’s books and records.

The jury rendered its verdict on Thursday following a 14-day trial in the U.S. District Court for the Eastern...

https://www.freightwaves.com/news/former-roadrunner-cfo-guilty-in-245m-securities-accounting-fraud-scheme

$92M Werner verdict from 2018 becomes a hot potato on appeal

A nuclear verdict handed down against Werner Enterprises in 2018 has set off a dispute within a Texas appellate court as the truckload carrier appeals the more than $90 million award.

There is no immediate impact from the decision of the Texas 14th Court of Appeals that Werner’s (NASDAQ: WERN) appeal should be heard en banc, which would be a larger panel than the three-judge panel of the same court that originally heard the appeal but never published its ruling.

While questions about whether the...

https://www.freightwaves.com/news/92m-werner-verdict-from-2018-becomes-a-hot-potato-on-appeal

Daimler Truck spinoff on track after parent company’s board vote

Daimler Truck Holding AG has received the go-ahead to become a stand-alone company from the Board of Management and Supervisory Board of Daimler AG.

After the planned spinoff of Daimler Truck by the end of this year, shareholders of Daimler AG will hold a 65% stake in the new company, which will be listed on the stock exchange as an independent company. Daimler shareholders will get one additional share in Daimler Truck Holding AG for every two shares they hold in Daimler AG (OTC: DDAIF).

Daimler...

https://www.freightwaves.com/news/daimler-truck-spinoff-on-track-after-parent-companys-board-vote

Electronic recordkeeping: Are you falling behind?

In 2017, the idea of a Federal Motor Carrier Safety Administration off-site audit rarely crossed the minds of carrier executives, and with good reason — FMCSA almost never conducted one.

In fact, in 2017 and 2018, FMCSA conducted just 329 off-site audits in total as it trialed the process. That changed in 2019 when the agency ramped up the program, conducting 1,374 audits. Last year, in part because of the COVID-19 pandemic, that number jumped to 5,551 audits — 50.5% of the total audits...

https://www.freightwaves.com/news/electronic-recordkeeping-are-you-falling-behind

‘Full-court press’: Trucking industry relieved I-40 bridge repairs almost done

Crew installing steel plates during repairs on the Hernando de Soto bridge on May 22, 2021.

The trucking industry was dealt a big blow when the Arkansas Department of Transportation (ARDOT) shut down the Hernando de Soto Bridge on May 11. Inspectors found a major fracture in a deck beam, compromising the stability of the Interstate 40 bridge between Memphis, Tennessee, and eastern Arkansas.

The closure has put the most pressure on carriers of fuel, asphalt and other products that are sourced and delivered regionally in the mid-South. They typically have to load at one spot, then...

https://www.freightwaves.com/news/full-court-press-trucking-industry-relieved-i-40-bridge-repairs-almost-done

What will the reopening of the Canadian border mean for freight?

An aerial view of the U.S.-Canada border. The Canadian side is set to reopen for non-essential travel.

Canada is beginning to reopen its borders for nonessential travel after a 16-month shutdown in response to COVID-19. Starting Aug. 9, fully vaccinated U.S. citizens and permanent residents can enter the country.

Even though trade has been exempt from the restrictions — allowing trucks to move freely between Canada and the U.S. — the reopening of the border still has significant implications for freight. And not just because more congestion and wait times will undoubtedly accompany the return of...

https://www.freightwaves.com/news/what-will-the-reopening-of-the-canadian-border-mean-for-freight

Borderlands: More investment, manufacturing jobs for Mexico

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: More investment, manufacturing jobs for Mexico; new 3,000-acre logistics hub for Texas; TUM Logistics acquires 110 Kenworth tractors; and CBP seizes 6 kilos of DMT en route to Arkansas. 

More investment, manufacturing jobs for Mexico

Four companies recently announced big plans in Mexico, including a new factory and several major expansion projects.

Phillips Industries,...

https://www.freightwaves.com/news/more-investment-manufacturing-jobs-for-mexico

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