Trade using surface transportation between the United States and its North American Free Trade Agreement partners was up 11.8 percent in February.
According to the Bureau of Transportation Statistics of the U.S. Department of Transportation, trade between the U.S. and its NAFTA partners, Canada and Mexico, was 11. 8 percent higher in February than in February 2010, reaching $66.5 million. The value of U.S. surface transportation trade with Canada and Mexico in February increased 38.8 percent in two years from February 2009.
Surface transportation trade in February 2009 had the lowest amount of trade of any month since February 2004, with $47.9 billion, according to the Research and Innovation Technology Administration.
Trade value in February was down 4.1 percent from the early recession level of February 2008. Freight value in February fell 1.8 percent from January. In February 86.4 percent of U.S. trade with Canada and Mexico moved on land, 9.3 percent moved by vessel, and 4.3 percent moved by air.
For more information on freight factoring, please contact TBS factoring LLC by calling 800-207-7661.
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Truck Capacity rose 2.9 percent, on a national average, this week.
According to TransCores latest Trendlines report, truck capacity rose 2.9 percent while spot market load postings fell 2.3 percent from the previous week. Loads declined for vans by 3.7 percent and for flatbeds by 2.4 percent. The report does show that reefer loads rose 1 percent week over week.
The load to truck ratio declined this week for all equipment types. Vans fell 8.2 percent, reefers dropped 2.6 percent, and the ration for flatbeds declined by 2 percent, according to the report.
The trendlines report is a weekly updated report highlighting key industry indicators from TransCores U.S. Freight Index supported by 60 million loads and trucks. The report also features data from the American Trucking Associations and the U.S. Department of Energy.
For more information on truck factoring, please contact TBS factoring LLC by calling 800-207-7661.
A recent survey finds that carriers have used less broker services during the past three months.
According to Transport Capital Partners LLCs first quarter Business Expectations Survey, 87 percent of responding carriers have used less broker services since the year began. Transport Capital partner Richard Mikes said the survey shows a dramatic turn around since May of 2009, when two-thirds of carriers reported an increase in broker usage.
Obviously the freight supply demand balance has shifted dramatically to the carriers, and they are using their capacity to serve the needs of their long term customers, Mikes said. He added that publicly traded brokers achieve gross margins of 15 to 20 percent, which typically reduces what the carriers get for loads hauled for brokers.
Truck factoring can be done a number of ways. For more information on freight factoring, please contact TBS Factoring LLC at 800-207-7661.
The amount of freight carried by the private transportation industry fell by 1.5 percent in February.
According to the United States Department of Transportations Freight Transportation Services Index, the amount of freight carried by the for-hire transportation industry declined 1.5 percent in February from January, following two consecutive months of increases. Shipments measured by the DOTs Freight Transportation Services Index rose 12.9 percent over the last 22 months, after declining in the previous 16.
Freight shipments have increased in 16 out of the last 22 months. In February, freight shipments were around the same level as in September 2008, when the amount of freight began to decline.
The DOTs Transportation Services Index measures the month-to-month fluctuations in freight shipments in ton-miles, which are then combined into one index.
Freight factoring can be done an number of ways. For more information on truck factoring, please contact TBS Factoring LLC by calling 800-207-7661.
FMCSA Would Not Be Affected by Government Shutdown
The Federal Motor Carrier Safety Administration would not be affected by a shutdown of the federal government.
According to officials with the United States Department of Transportation, all Federal Motor Carrier Safety Administration positions are funded by multi-year appropriations, indefinite appropriations, or contract authority, including the federal gas tax. Officials also said FMCSA has sufficient balances of liquidating cash to operate for a limited period during a lapse in annual appropriations.
The Federal Highway Administration is also exempt from furloughs, the agency said. If the balance of annual appropriations is not sufficient, however, an agency shutdown plan might need to be implemented.
For more information on truck factoring, please contact TBS Factoring LLC by calling 800-207-7661.
NAFTA trade in January was 19.5 percent higher than the year before.
According to the Bureau of Transportation Statistics of the United States Department of Transportation, trade using surface transportation between the U.S. and its North American Free Trade Agreement partners, Canada and Mexico, was 19.5 percent higher in January 2011 than in January 2010. Trade in January this year reached $67.7 billion.
The Bureau of Transportation Statistics, a part of the Research and Innovation Technology Administration, reported that the value of U.S. surface trade with Canada and MExico in January 2011 rose 42.7 percent in two years from January 2009, which had the lowest amount of trade of any month since January 2004 at $47.5 billion. Trade value this year was up 4.0 percent from the early recession level of January 2008.
For more information on freight factoring, please contact TBS Truck Factoring, LLC, by calling 800-207-7661.
Truckload freight capacity increased by 4 percent nationwide last week, a new report says.
According to TransCore Trendlines DAT Network of load boards, truck postings increased 3.8 percent for dry vans, 5.8 percent for refrigerated vans, and 2.4 percent for flatbeds on the network, compared to the previous week. TransCore Treadlines is a weekly barometer for spot market freight trends.
Truckload freight volume for vans fell by 1.8 percent last week, and reefer loads dropped by 3.8 percent. Loads designated for flatbeds increased by 1.9 percent on the spot market.
The data indicates that the load-to-truck ratio declined for all equipment types as capacity increased. Viewed as a key measure of truckload demand and capacity, the ratio dropped to 4.2 loads per available truck, down from 5.4 percent.
For more information on trucking factoring, please contact TBS Truck Factoring, LLC, by calling 800-207-7661.
Shippers Condition Index Remains Low in February
FTR Associates' Shippers Condition Index remained at the low value of -5.2 in February.
According to the March Issue of FTR's Shippers Update, the company expects the index to fall further as the outlook for capacity shortages worsens in the seasonally strong spring months. The Shippers Condition Index examines all market influences that will affect shippers.
A reading above zero on the index suggest a favorable shipping environment. The Shippers Condition Index in January stood at -8.8, improving to -5.2 in February.
FTR Senior Consultant Noel Perry said February's weak showing was the effect of normal seasonal weakness in freight. "Shippers should not be heartened by the upward movement in the index this month," Perry said. "The March number will drop sharply as the spring surge in freight arrives."
To learn more about Trucking Factoring, please contact TBS Factoring LLC at 800-207-7661.
Trade Deficit Jumps to $46.3 Billion in January
A surge in oil prices and demand for foreign cars pushed imports up at the fastest pace in 18 years in January, giving the country the largest trade deficit in six months.
According to data released by the Commerce Department Thursday, the january deficit increased 15.1 percent to $46.3 billion. Exports reached an all-time high of $167.7 billion with a 2.7 percent jump, but imports rose at nearly twice the pace of exports, to $214.1 billion. America's foreign oil debt rose 9.5 percent, adding to concerns that higher oil prices could slow economic growth.
The data also tracks other countries trades. China reported a surprising trade deficit of $7.3 billion in February. The county typically runs huge trade surpluses. A surge in commodity prices pushed imports up 19.4 percent. China's exports fell 2.4 percent.
Truck Factoring can be done a number of ways. For more information, please contact TBS Factoring LLC by calling 800-207-7661.
TransCore Report: 20 Percent Increase in Flatbed Loads
A new report shows an increase in truckload freight availability during the last week of February.
According to a report published by TransCore Treadlines, truckload freight availability on TransCore's DAT Network of load boards increased by 7.6 percent during the week ending February 26. The increase in freight was likely due to a significant upswing in flatbed loads, which surged by 20 percent, while flatbed truck capacity fell 4.3 percent.
Dry van freight availability declined slightly, with a 3.4 percent drop, while dry van capacity increased 4.3 percent.
Load volume in the refrigerated segment dropped 1.7 percent compared with the previous week.
Rates for all equipment types continue to decline in Los Angeles, but not as sharply as in January, according to the report. Rates on outbound freight from Southern California traditionally reverse in March.
Freight factoring can be done a number of ways. For more information, please contact TBS Truck Factoring, LLC, by calling 800-207-7661.