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CCI Purchased by TruckPro

Waste360.com reported last month that CCI Corp, a transportation retailer and distributor, was recently bought, for an undisclosed amount, by waste truck distributor, TruckPro LLC.

The addition of Lemont, IL-based CCI now gives Memphis-based TruckPro 165 retail store, service shop, and distribution locations throughout North America.

“The addition of CCI to TruckPro’s existing business positions TruckPro as the leading provider of heavy duty truck & trailer products and advanced repair services in North America,” said Steve Riordan, TruckPro chairman and CEO.

For the full article, click here.

Two-Thirds of Carriers Plan to Boost Capacity

While the growth is moderate, around two-thirds of motor carriers do plan to increase capacity in the next 12 months. A recent Transport Topics article, referencing the most recent TCP trucking industry survey, shares this data.

Additionally, smaller carriers are more optimistic than larger carriers in their buying plans. Thirty-six percent of smaller carriers intend to build capacity by more than 5%. Only 19% of larger carriers plan such additions.

Read the articles from Transport Topics online and in print.

Truck Capacity Growth Expected to be Modest

A recent article from FleetOwner.com sites results from TCP’s Second Quarter Business Expectations Survey.

The survey revealed that, although 65% of carriers are planning to add capacity, those additions will most likely be conservative. More than 75% of carriers plan to add little (1% to 5%) or no capacity in the next 12 months.

“Carriers continue to voice concerns about the ‘headwinds’ impacting operations and returns,” stated TCP Partner, Richard Mikes.

The piece continues by referencing data from the Bureau of Economic Analysis and from the Department of Labor’s recent jobs report that mirrors trends in the trucking industry – slow, conservative growth, and cautious optimism.

Read the full article here.

Your opinion on the trucking business matters!

Are you seeing rate increases this summer? What sort of freight business did you have this quarter?

The TCP Third Quarter 2013 Business Expectations Survey is open. Click here to participate. Less than 5 minutes completes this important industry survey.

Voice your opinions on the current state of trucking. Contribute to the industry’s only survey asking carriers about trends and expectations.

Hiring Qualified Employees at Critical Positions Proving Difficult

A recent article from TruckingInfo.com sites data from the second quarter TCP survey showing carriers having trouble finding qualified employees and drivers.

In the survey, sixty-five percent of carriers expressed difficulty finding qualified maintenance technicians. Furthermore, 30% stated they are having problems filling operations staff and fleet manager level positions.

“Good employees, at all levels, have always been the lifeblood of the industry,” says TCP partner Richard Mikes. “Now, as we see growth in demand on the horizon, excellent human resource management is critical.”

Carriers, because of these shortages of drivers, technicians, and fleet managers, remain concerned about adding capacity at this time. Seventy-percent of larger carriers, and 50% of smaller carriers, in the survey indicated they were having trouble finding qualified technicians.

Click here to read the full article from TruckingInfo.com.

New Fleet Investments Unlikely for Many Carriers

Recent articles from TodaysTrucking.com and TruckingInfo.com report that inadequate rates of return are keeping fleets from buying.

They share results from the second quarter TCP industry survey that show only slightly over 50 percent of carriers seeing returns on investments that can justify new equipment purchases. This figure is up just four percentage points from November 2012.

Additionally, one-third of all carriers reported having no current plans to add any new equipment. At this time, replacing aging fleets is the principle driver of most equipment investment.

“Higher equipment costs in recent years, combined with the lower utilization resulting from new HOS rules, will continue to make adequate returns on investment a challenge,” said Steven Dutro, TCP partner.

Read the complete articles here and here.

Larger Carriers More Positive About Renegotiating Accessorials

Forty-three percent of all carriers believe they will be able to renegotiate detention pay, up significantly from the November 2012 TCP survey. This increase is most likely in response to recent changes in hours of service regulations.

However, small carriers are more pessimistic than larger carriers on accessorials. Sixty-four percent of those smaller carriers anticipate no relief in charge negotiations.

“As freight demand grows, shippers who need consistent service will need to assist carriers in gaining operational efficiency and adequate compensation. Larger carriers are more confident they are positioned to achieve this customer cooperation,” stated TCP Partner Richard Mikes.

For the full article from OverdriveOnline.com, click here.

Rates of Return Still a Concern for Trucking Industry

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.

New HOS Leading to Tightening Capacity

TruckingInfo.com references data from the TCP second-quarter industry survey in their recent article. Survey results showed that almost 40% of carriers are expecting utilization to lower more than 5%. Just over 38% of carriers expect under a 5% change while only 3% expect no impact whatsoever. Strikingly, almost 19% of carriers have still not determined the full impact of these new regulations. Click here to read the full article.

Three-Quarters of Carriers Expecting Lower Utilization

TheTrucker.com reports that, with new hours of service regulations, in effect on July 1st, approximately 75% of carriers are expecting utilization to lower. The way shippers work to minimize the impact of these changes will also affect this tightening capacity.

“This potential reduction in truck capacity is hitting at the same time as spot rates are climbing, reflecting a stronger demand in June. Rates will likely increase further in the months ahead,” noted Richard Mikes, TCP Partner.

Full article here.