Listen folks..while sni maybe playing with the loads..the economy is in recession whether or not you want to believe or not...until the financial situation with this country gets turned around its going to get worse..also until the elections happen businesses are in a state of flux because theyre holding back as much as possible to see what happens..thats just how state of affairs right now..
Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!
Discussion in 'Schneider' started by freightwipper, Jun 1, 2015.
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exracer941 Thanks this.
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The reports of rates being down and loads being down are endless.
Its enough of the Schnieder bashing for loads not being good like they were prior, the main problem is the economy, not Schneider! Just keeping it real. There is suffering across the board, just look at some of the recent evidence:
"Trucking companies are getting more serious about pulling capacity from a weak shipping market. Orders for large truckstumbled 16% in April from already-low March figures and 39% from a year ago, a surprisingly steep decline that suggests truckers are responding more urgently to declining freight volume and falling truckload rates. Trucking fleets ordered just 13,500 Class 8 trucks last month, the fewest net orders in any April since 2009, the WSJ’s Bob Tita and Loretta Chao report. Orders have been falling for several months, but it looks like truck production that has been running at about 21,000 to 22,000 vehicles a month will come down even more this year. "
http://www.wsj.com/articles/todays-top-supply-chain-and-logistics-news-from-wsj-1462444379
"Cummins Inc. says lower production and weak equipment demand are primary factors in its financial results for the first quarter of 2016, which show revenue of $4.3 billion, down 9% over the same period in 2015."
http://www.todaystrucking.com/cummins-revenue-down-9-in-q1
"Class 8 truck orders dropped 39 percent in April from the same month last year and 16 percent from the previous month, transport analyst firm ACT reported May 3.
“Despite increasingly easy year-over-year comparisons, demand for Class 8 vehicles continued to lose traction in April,” said Kenny Vieth, ACT’s president and senior analyst. Vieth blamed “an ongoing overcapacity narrative, a resulting WEAK FREIGHT RATE environment, softness in late-model used truck values and excessive new vehicle stocks” for the weak orders, which totaled 13,700."
http://www.thetrucker.com/News/Stor...truckordersdown39fromprioryearACTreports.aspx
"DAT Solutions, an Oregon-based transportation data firm, reported that loads available for DRY VANS, the most common type of tractor-trailers used for shipping consumer goods, FELL 28% in April while capacity on the market was up 1.7% on a year-over-year basis. There are signs operators are pulling back trucks, however, with capacity measured by DAT slipping back 3.6% from March to April.
http://www.wsj.com/articles/truck-orders-fall-in-april-1462383538
"Swift to cull truckload tractor fleet as revenue, profit slip"
http://www.joc.com/trucking-logisti...actor-fleet-revenue-profit-slip_20160421.html
"Profits plunged 77% at Roadrunner Transportation Systems Inc. in the first quarter.
With too many trucks chasing too little freight across the industry and driving down prices, Roadrunner's once-shining financial performance has suffered."
http://m.jsonline.com/business/prof...ner-transportation-b99719588z1-378169371.html
"In a conference call with analysts, C.H. Robinson executives said the company received twice as many bids for freight contracts in this year’s first quarter as it usually gets at the start of the year, a sign that shipping customers were trying to bring low spot-market rates into their longer-term contracts. Freight rates for these bids were flat or lower compared with last year.
“We…currently continue to see a soft market with a lot of available truckload capacity,” said John Wiehoff, C.H. Robinson’s chief executive."
http://www.wsj.com/articles/shippers-trying-to-lock-in-low-truck-freight-rates-1461786835
"The national average van rate slipped 1¢ in April compared to March. When compared to April 2015, the rate was down 36¢, which includes a 14¢ drop in the average fuel surcharge."
http://www.dat.com/resources/trendlines/van/national-ratesLast edited: May 5, 2016
SingingWolf, Opus and Cledus Snow Thank this. -
Fykes (not huge) was a pretty well respected company, been around for quite a while.
Not saying I believe the stories about Schneider, but it can happen to any of the trucking companies out here, and none of us will truly know until it actually happens.Home_on_wheels Thanks this. -
Lone Ranger 13 Thanks this.
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We already have an influx of oil field workers running OTR now, which had a pretty big impact on rates. If we end up in a trade war, everyone better be prepared because the can haulers will be in here fighting for a piece of this pie as well. Could get really ugly while that sorts itself out.
How nice it would by to have a crystal ball and see a couple years ahead right now, LOL. -
I'm in the same boat, I have to adapt to otr trucking in 2016 after leaving in 2000 for a local job. In my opinion technology has ruined trucking.drvrtech77, Lone Ranger 13 and freightwipper Thank this. -
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