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FUEL PRICE SPIKES UNEXPECTEDLY: The price of diesel jumped higher than analysts predicted in June as speculators continue their upward pressure on the price of crude oil. Retail diesel prices have climbed more than 14% over the past month to a national average of $2.61 a gallon, according to the AAA. That still trails gasoline prices, which jumped 16% in the same period to an average $2.68 for a gallon of regular unleaded. However there are emerging signs that the speculators may soon be having less fun. Bloomberg’s Margot Habiby reported June 15th that oil fell as the dollar gained the most against the euro since April, limiting investors’ commodities strength as an inflation hedge. Landline Magazine reported: “A year ago, many truckers were forced to choose between food and fuel as the price of diesel hit a record high of $4.764 per gallon in mid-July. With freight rates already in the toilet, many truckers can’t afford a significant spike in their fuel costs again this summer.
MEXICAN TRUCKING’S CANACAR TAKES ACTION: After years of promised open borders for Mexican truckers under NAFTA, Canacar, a trade association representing more than 4,500 Mexican trucking companies is seeking $6 billion from the U.S. government because of Congress’ refusal to allow Mexican trucks to carry freight in the U.S. According to a June 2 report in the Wall Street Journal, Canacar filed a demand for arbitration with the U.S. State Department in April, but didn't publicize the move until June. Canacar’s demand for $6 billion in damages stems from legislation signed earlier this year by President Barack Obama effectively canceling a pilot program that would have allowed Mexican trucks to operate north of the border. The Mexican government retaliated by slapping $2.4 billion worth of tariffs on U.S. goods. Canacar said members continue to lose money because Mexican truckers are only allowed to operate their rigs within 25 miles of the border on the U.S. side.
FLEET OWNERS OPTIMISTIC: Even though carriers agree the market still is plagued by freight rates that are scraping the bottom, fleets owners are becoming more optimistic about a trucking recovery in the next 12 months. Optimism was the key message in a survey of about 150 fleets according to Transport Capital Partners (TCP), a Nashville consulting firm. According to Rip Watson’s report in the June 15th Transport Topics Richard Mikes, TCP managing partner offeredinvestors the brightening assessment: “The outlook in key metrics such as freight volumes, rate stability, insurance renewals, credit, and mergers and acquisitions improved significantly.” The survey, released June 4, found 37% now expect freight volume to rise over the next 12 months, compared with 21% in a survey two months earlier. In addition, a majority of the surveyed carriers believes rates will stabilize in the next year, instead of decreasing as revealed in an earlier survey. “These responses would indicate that perhaps a bottom has been reached” in rates, TCP said. Besides expected market improvement, surveyed fleets reported obtaining lower insurance rates and signaled less interest in exiting the trucking industry.
FACTORY ORDERS ROSE IN APRIL: While data from the manufacturing sectors of the economy show the U.S. isn’t exactly out of the woods yet, there are new reports encouraging some optimism. United Press International reported June 3rd that new orders for manufactured U.S. goods rose in April, increasing 0.7 percent according to a U.S. Census Bureau report. The Institute for Supply Management’s (ISM) index, though still below the 50 level that denotes an expanding economy, found purchasing manager’s sentiments brightening. Although economic activity in the manufacturing sector failed to grow in May for the 16th consecutive month, the overall economy grew for the first time following seven months of decline, said the nation's supply executives in the latest Manufacturing ISM Report On Business. As of April, said the Census Bureau, new orders were up for two of the past three months. In the latest month, durable goods orders rose -- tracking orders for items meant to last more than three years -- rose 1.7 percent $160.9 billion, after dropping 2.2 percent in March. Bloggers at Motley Fool characterized the April numbers this way: “Durable Goods Orders: Best Jump in 16 Months” citing: “strong demand for communications equipment, machinery and fabricated metal led an upbeat durable goods report for April last week.” Overall orders jumped by 1.9% said commentators knocking analysts who had expected only a rise of 0.4%.
HEADS UP—FIRST EVER ROOF STRENGTH STANDARD FOR HEAVIER VEHICLES: U.S. Transportation Secretary Ray LaHood recently announced tough new roll-over standards that for the first time will cover heavier vehicles. “Rollovers are the deadliest crashes on our highways and today's rule will help occupants survive these horrific events,” said Secretary LaHood. According to the National Highway Traffic Safety Administration, the new rule significantly strengthens vehicle roof structures to improve rollover crash protection. Vehicles ranging from 6,000 to 10,000 pounds now are required to have both sides of the roof capable of withstanding a force equal to 1.5 times the weight of the vehicle. The regulation also doubles current roof strength requirements for light vehicles weighing up to 6,000 pounds. It specifies that both the driver and passenger sides of the roof must be capable of withstanding a force equal to three times the weight of the vehicle. The tougher roof crush requirements are part of a comprehensive plan to address rollover crashes, which kill about 10,000 people annually.
GET SOME SLEEP… NOW: Sleeping is good for you and new studies are providing proof that getting one’s proper rest is key to a healthier and possibly skinnier existence. Susceptible to catching cold? A recent study in the Archives of Internal Medicine showed that people sleeping less than seven hours a night have a three times higher risk of catching cold than those regularly sleeping more than eight hours. In his Parade column June 7th, Ranit Mishori reported Scientists at Carnegie Mellon University asked 153 healthy adult men and women about their sleeping habits, and then dosed them with nasal drops containing rhinovirus. The common-cold virus took hold more readily among the less-rested. Bloomberg cites another study that finds sleeping less than seven or eight hours a night routinely puts people at risk for high blood pressure. The less sleep adults participating in the research got, the more likely they were to see their blood pressure rise, according to research in June’s Archives of Internal Medicine. For every hour of missed sleep, odds of developing the condition rose an average 37 percent over five years and skipping two hours sleep raised the blood pressure risk 86 percent. Researchers say people don’t respect sleep relative to diet and exercise as part of a healthy lifestyle. Not sleeping can make you fat as well: Multiple studies have looked at the relationship between sleep and obesity. In one, researchers from the University of Warwick Medical School in England, reviewed studies conducted worldwide that examined sleep duration and obesity in more than 600,000 adults and 30,000 children. The team concluded that every lost hour of sleep is associated with a discrete increase in BMI (body mass index).
The will to succeed is important, but what’s more important is the will to prepare.” Bobby Knight
