Trucking

ExxonMobil’s diesel formulation saves fuel and cuts emissions

ExxonMobil fuel pump with engineer Lilo Hurtado

Two years after it went on sale in small test markets in Michigan and Texas, ExxonMobil (NYSE: XOM) and its Synergy Diesel Efficient now adorn fuel canopies at 7,500 independent truck stops and 425 commercial fuel depots.

The 20% drop in diesel fuel prices could get more truckers to check out the diesel formulation’s benefits: 

  • At least 2% or better fuel efficiency.
  • Lower oxides of nitrites (NOx) emissions
  • Elimination of fuel additives
  • Cleaner fuel system operation

When diesel prices were...

https://s29755.pcdn.co/news/exxonmobils-diesel-formulation-saves-fuel-and-cuts-emissions

Celadon in talks to sell Mexican business for $2.4 million

Tractor-trailers of Celadon's Jaguar Transportation

Bankrupt Celadon Group is pursuing a deal to sell its Mexican businesses to White Willow Holdings for $2.4 million after the proposed $7 million sale to P.A.M. Transportation Services fell through, according to a court filing.

Luminus Management-backed White Willow “put forth the best offer” for its Mexican subsidiaries, Celadon said in an April 30 filing in U.S. Bankruptcy Court. The deal also provides for 78% of Mexican tax refunds owed to Celadon – worth as much as $18.5 million – going back...

https://s29755.pcdn.co/news/celadon-in-talks-to-sell-mexican-business-for-2-4-million

Borderlands: Trucking schools see demand surge during coronavirus; $11.5 million drug bust at Laredo’s World Trade Bridge

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Trucking schools see demand surge during coronavirus; $11.5 million drug bust at Laredo’s World Trade Bridge; cargo theft of trucks in Mexico up 25% during pandemic; Arizona fast-tracks project to expand truck parking on Interstate 40.

Trucking academies sees demand surge during Coronavirus

Officials at the 160 Driving Academy said demand for commercial driver’s license...

https://www.freightwaves.com/news/borderlands-trucking-schools-see-demand-surge-during-coronavirus-11-5-million-drug-bust-at-laredos-world-trade-bridge

Diesel set to be the ‘runt of the litter’ among oil markets

Diesel markets in the U.S. are starting to lag the rest of the oil barrel, with a surge in output in recent weeks sending inventories higher.

While the ultimate price of diesel will still be based mostly on what happens to the price of crude oil, all signs are pointing to a diesel market that is weakening under a market-driven decision by refiners through much of April to shift as much of their production as possible away from gasoline and jet fuel and toward diesel. While all markets have...

https://www.freightwaves.com/news/diesel-set-to-be-the-runt-of-the-litter-among-oil-markets

Cancer advocate reminds truckers May is Melanoma Awareness Month

If you are friends with trucking advocate Ingrid Brown on social media, she says you can expect to see “friendly reminder” posts from her over the next couple of weeks to bring awareness that May is Melanoma Awareness Month.

While the American Academy of Dermatology Association usually offers free skin cancer screenings in May, the organization had to cancel them this month because of the coronavirus pandemic.

Since being diagnosed with melanoma in 2017, Brown, a 40-year trucking veteran with...

https://www.freightwaves.com/news/cancer-advocate-reminds-truckers-that-may-is-melanoma-awareness-month

Volumes show signs of life, now 8% below year ago levels

There is life in the outbound tender volume index (OTVI) once again. After two weeks of walking along the x-axis, OTVI has turned to the upside. Volumes have risen just over 4% since last week and have broken the 9,000 mark. 

Federal social distancing guidelines expired on Thursday, April 30, and the White House has indicated the restrictions will not be extended. Despite warnings from health and disease experts, half of U.S. states are moving forward with relaxing some restrictions....

https://www.freightwaves.com/news/volumes-show-signs-of-life-now-8-below-year-ago-levels

Freight Futures daily curve: 5/1

Freight Futures data to watch today:April Settlements vs. May Settlements

Thursday’s session was the last trading session for the April Trucking Freight Futures contracts, and prices were lower across the board for a seventh consecutive session. The spot National contract (FUT.VNU202004, FUTC1.VNU) finished down 0.7% to close at $1.320 per mile. With the May contract (FUT.VNU202005, FUTC2.VNU) set to become the new “Spot” contract, the roll will bring a nearly $0.10, or 7.5%, premium to the...

https://www.freightwaves.com/news/freight-futures-daily-curve-5-1

Universal Logistics reports brutal April as CEO looks toward recovery

A Universal Logistics tractor-trailer.

Universal Logistics Holdings (NASDAQ:ULH) offered a glimpse of how COVID-19 is playing out at the beginning of the second quarter – a 30% drop in revenue in April. The worst of it was due to shutdowns in auto and heavy truck plants, where dedicated freight volumes fell to zero.

“We had to make some difficult decisions,” CEO Tim Phillips told analysts on Friday, May 1, after the Michigan-based transportation and logistics firm reported first-quarter financial results. 

Phillips said Universal...

https://www.freightwaves.com/news/universal-logistics-reports-brutal-april-as-ceo-looks-toward-recovery

Updated: Trump appointee reaches out to ‘Mayday’ trucker to set up possible meeting

Scott Jordan of Peculiar, Missouri, arrived at the nation’s Capitol early Friday morning with a mission – to meet with President Donald Trump and deliver his letter in person about how some small-business truckers are days or weeks away from shuttering operations because of low freight rates amid the coronavirus outbreak.

Jordan, the owner of Powerhouse Transportation, said he went to the U.S. Secret Service gate outside of the White House to ask for a meeting with the president and deliver his...

https://www.freightwaves.com/news/updated-trump-appointee-reaches-out-to-mayday-trucker-to-set-up-possible-meeting

Pandemic offers opportunity to end the tug of war between carriers, shippers

Carriers and shippers have been playing a decades-long game of tug of war, passing pricing power amongst themselves as the transportation markets rise and fall. These pricing surges are one of the few certainties in an unpredictable market. 

The global pandemic offers industry players the chance to trade competition for collaboration and disrupt the status quo. Carriers, 3PLs, and shippers alike are feeling the impact of the coronavirus pandemic, and companies in every corner of the industry are...

https://www.freightwaves.com/news/pandemic-offers-opportunity-to-end-the-tug-of-war-between-carriers-shippers

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