TRUCKING INDUSTRY * USA & Canada - Deadline nears for YRC Worldwide to avoid bankruptcy

The trucking company has until the end of July to complete a deal

Overland Park,KN,USA -The Dayton Business Journal -April 23, 2011: -- YRC Worldwide Inc. said it is making progress in negotiations as an April 29 deadline to finalize a deal to restructure its finances and avoid bankruptcy nears... With the deadline coming next week for YRC, the trucking company said in a news release Friday that it has made "significant progress" in its efforts to restructure its finances although there were few details... YRC warned investors last month it may seek bankruptcy protection after missing a key milestone in its restructuring efforts... In Friday's news release, John Lamar, YRC’s chief restructuring officer, said the company has been working with its secured lenders, pension funds and the negotiating arm of the International Brotherhood of Teamsters on a deal, reached "in principle" in February, that would inject new capital and reduce the company's existing debt...

* YRC Worldwide Reaches Restructuring Agreement

Overland Park, KN,USA -The Journal of Commerce Online, by William B. Cassidy -Apr 30, 2011:  ... New debt restructuring agreements YRC Worldwide reached with lenders and pension funds will allow the carrier to meet a key deadline in its bid to avoid bankruptcy...  The company announced late Friday more than 95 percent of its lenders approved the restructuring plans, along with all of its multi-employer pension funds...  The agreement includes an exchange offer that will give the company’s lenders approximately 72.5 percent of the carrier’s common stock after the restructuring is complete...  The company’s existing shareholders would retain approximately 2.5 percent of the company’s outstanding common stock, subject to further dilution by a management incentive plan and the conversion of certain new securities, the company said...  The agreements signed Friday also anticipate $100 million in new capital through additional stock sales, and increased liquidity from a new asset-based loan facility. The restructuring agreements are scheduled to be in place by July 22...  The agreements cleared a potential obstacle to financial restructuring at the nation’s largest pure trucking operator, which has lost more than $2.5 billion since 2006...  Teamster multi-employer pension plans in March said they wanted a higher interest rate on deferred pension obligations owed by YRC Worldwide...

* Carriers going without brokers

New York,NY,USA -Fleet Owner, by Wendy Leavitt -Apr 25, 2011: -- According to several recent studies, carriers are reducing their reliance on brokers to fill their trucks as freight demand continues to exceed trucking capacity...  In its First Quarter Business Expectations Survey, Transport Capital Partners, LLC (TCP) reported that 87% of the carriers polled said they have used broker services less during the past three months, with 40% noting that broker freight services account for less than 5% of their revenues and another 35% of respondents adding that only 6% to 15% of their revenues come from brokers...  Other surveys note that the profit margins for brokers are also in decline as capacity continues to be in short supply...  As an indicator of truckload demand and capacity on the spot market, load-to-truck ratios on TransCore’s DAT network increased to an average of 5.5 loads per available truck listed in 2010, up from just 1.8 loads per truck in 2009. This was due primarily to a year-on-year increase of 133% in truckload freight availability, coupled with a 27% decline in capacity, the firm said...

* EZE Trucking Acquires Patterson Motor Freight

Rialto,CA,USA -The Journal of Commerce Online, by William B. Cassidy -May 2, 2011: -- Heavy haulers to merge, expanding EZE's capacity, reach in Western U.S... Transportation acquisition activity reached the heavy haul trucking industry with EZE Trucking's purchase of Bakersfield, Calif.-based Patterson Motor Freight... Terms of the deal were not disclosed... The combined companies will operate in five states. A logistics operation will broker freight throughout the U.S. and across the border into Canada and Mexico... (Photo from ezetrucking: Heavy haul oversize)

* Canada - TransForce takes over domestic operations of DHL Express Canada

Montreal,QUE,Canada -Truck News -29 April 2011: -- TransForce and DHL Express Canada have announced a 10-year strategic alliance that will see the two companies integrate their domestic and international shipping and logistics offerings...  TransForce will purchase the assets of DHL Express Canada's domestic business and will take over its domestic operations through Loomis Express, a newly formed subsidiary of TransForce, the companies announced...  DHL Express Canada will focus exclusively on the Canadian international shipping segment. Under the agreement, the companies claim Loomis Express and DHL Express Canada will offer Canadian businesses a fully integrated international and domestic suite of shipping and logistics services... (Photo from hankstruckpicture: A Transforce Ganeca Peterbilt 387 that came down from Canada)

* Canada - Titanium Trucking Services buys Flex-Mor Industries

Oakville,ONT,CAN -Truck News -4 Mat 2011: -- Spara Capital Partners, an Oakville-based investment and merchant banking firm, has announced the acquisition of carrier Flex-Mor Industries by Woodbridge-based trucking company Titanium Trucking Services... Acting on behalf of Titanium, an asset-based trucking company with a freight brokering division, Spara was charged with finding a suitable acquisition to complement Titanium's growth strategy. The Flex-Mor transaction will expand Titanium's fleet to more than 90 trucks and more than 400 trailers with larger service capability...

* Canada - Mullen Group to acquire Hi-Way 9

Okotoks,Alberta,Canada -Truck News -4 May 2011: -- Mullen Group has announced it has entered into an agreement to acquire Drumheller, Alta.-based LTL carrier Hi-Way 9 and its subsidiaries... The deal includes Hi-Way 9 Express, Load-Way, Streamline Logistics and 1006213 Alberta Ltd... Hi-Way 9 is a privately held, family-owned LTL carrier that's been in business since 1969 and is a fixture on the Alberta trucking landscape...

TRUCKING INDUSTRY * USA - Holland Unit to Hire 1,000 Drivers

YRC Worldwide’s Holland unit said Monday it plans to hire about 1,000 drivers this year

Chicago,ILL,USA -Transport Topics -21 March 2011: ... “Building on strong fourth-quarter performance, the company is preparing for further increases in shipments,” the less-than-truckload carrier said in a statement. Holland is a YRC Regional Transportation company offering services throughout the Central, Southeastern, Midwestern United States and Eastern Canada. The unit currently has about 1,700 over-the-road drivers...

* Missouri/USA - Bankruptcy fears batter YRC shares

San Francisco,CAL,USA -MarketWatch -March 16, 2011:  -- YRC Worldwide Inc. shares shed 20% to $1.64 in early trading on Wednesday after the shipping and trucking carrier said in a Securities and Exchange Commission filing that it may have to file for bankruptcy protection if it defaults on some debt...  Creditors have not declared a default yet, but they have the right to in light of the company's failure to meet some terms of its commitments. The stock has lost 85% of its value in the past year...

* Georgia - Rush acquires Asbury Automotive Atlanta

Smyrna,GA,USA -Fleet Owner -Mar 16, 2011: -- Rush Enterprises subsidiary Rush Truck Centers of Georgia has acquired the assets of Asbury Automotive Atlanta, a subsidiary of Asbury Automotive Group...  Based in Georgia, Asbury operates International, Hino, Isuzu, UD Trucks, IC Bus and Workhorse franchises in Atlanta with dealership locations in Atlanta and Doraville and a collision center in Atlanta. The dealerships operate under the name Nally Motor Trucks...  

* USA / UK - Company Now Able To Retrofit Clean Diesel Systems

Ventura,CA,US/UK -Handy Shipping Guide -16 March 2011: -- Clean Diesel Technologies Inc having attained ISO9001 certification for its newly formed UK subsidiary, has been named by Transport for London (TfL) as an accredited supplier of approved diesel emission reduction systems that could ensure vehicles are compliant with the London Low Emission Zone (LEZ). The company can retrofit any diesel powered vehicle including freight delivery trucks and other commercial vehicles...  The London LEZ, which covers most of Greater London, was introduced in 2008 to encourage the most polluting diesel vehicles to become cleaner in order to improve the health and quality of life for people visiting, working or living in London...   The London LEZ will be subject to two significant changes in January 2012. The first change will affect Heavy Goods Vehicles (HGV), buses and coaches that, from January 3, 2012, will be required to meet more stringent Euro IV emissions standards for particulate matter (PM) to drive within Greater London free of charge...   In addition, larger vans, minibuses and other specialized diesel vehicles will be included in the LEZ for the first time beginning January 3, 2012. These vehicles will have to meet a Euro III standard for PM in order to drive within the LEZ free of charge...  Approximately 150,000 vehicles will be affected by the new regulations... (Photo from trading-house)

* Canada - Manitoulin acquires Exalta Transport

Mississauga,ONT.USA -Truck News -Mar 16, 2011:  --  Manitoulin Transport has expanded its western presence by acquiring Exalta Transport...  Based in Medicine Hat, Alta., Exalta is a regional carrier serving western Canada, operating 300 pieces of company-owned equipment out of seven terminals...  Exalta provides scheduled general freight service between Regina and Saskatoon and among terminals in Brooks, Calgary, Edmonton, Lethbridge and Medicine Hat, Alta...   It also offers a through service between points in Alberta and Saskatchewan and a truckload division serving points in B.C., Alberta, Saskatchewan and Manitoba... All Exalta employees will be retained by Manitoulin, the company said... (Photo from Manitoulin Transport Tractor Line's New Prostar. March 19, 2009)

TRUCKING INDUSTRY * USA - Appeals court upholds OOIDA in longstanding case involving Arctic

* Tennessee - Escrow funds from leased owner-operators’  can't be used to pay company debts

Nashville,Tennessee,USA -Land Line Magazine, by Sandi Soendker -4 March 2011: -- Can a motor carrier use escrow funds from its leased owner-operators’ money to pay company debts? The Owner-Operator Independent Drivers Association says no, it can’t, and a ruling this week from the U.S. Court of Appeals for the Sixth District clearly agrees...  In a March 3 ruling, the U.S. Court of Appeals for the Sixth Circuit has held that escrow funds belonging to owner-operator drivers under lease to Arctic Express Inc. prior to 2000 were improperly transferred to Comerica Bank to pay Arctic’s debts to that bank...  OOIDA President and CEO Jim Johnston called the ruling that driver escrow funds are subject to a statutory trust “very significant” and emphasized that the ruling “could be extremely beneficial to owner-operators in future cases” ... (Photo from net7: images grandpa Daggett, Canada's owner operator)

* Indiana - Bank works to get R.L. Carter Trucking drivers home

Clayton,IND,USA -Land Line Magazine, by Clarissa Kell-Holland -March 3, 2011: -- As many as 240 drivers for R.L. Carter Trucking Inc., based out of received grim news late Wednesday that their company was suspending operations that same day. Some were under loads and were running low on fuel when they received word that as of 3:15 p.m. Wednesday the company was shutting its doors for good...  Many in the trucking world remember when hundreds of drivers for Arrow Trucking of Tulsa, OK, were stranded across the country just days before Christmas in 2009, under loads with no fuel and few options on how to get home...  However, in this case, it appears that R.L. Carter drivers will be getting the help they need after all...  The Transportation Alliance Bank, based in Ogden, UT, has stepped up to help stranded R.L. Carter drivers get their loads delivered and also make it home...  Back in September 2010, R.L. Carter had filed a Chapter 11 bankruptcy petition and was reorganizing. However on March 2, the company ceased operation and the case was converted to Chapter 7 liquidation...

* California - CARB reefer grace period expires April 1

Sacramento,CAL,USA -Land Line Magazine, by Charlie Morasch -4 March 2011: -- Reefer haulers going into the Golden State with 2003 model year reefers must meet new emissions standards by the end of this month. A 90-day grace period for reefer owners is set to expire in California, the state’s air quality agency announced this week...  By March 31, all model year 2003 reefer engines must meet new emission control standards under the California Air Resources Board’s Transportation Refrigeration Unit regulation...  CARB fines in-state companies for failing to be registered with its TRU registration system up to $500 for each occurrence, and the agency fines “in-use performance violations” up to $1,000... (Photo from sunclassifiedads:  2003 Mitsubishi Fuso Fe211 Reefer Van )

TRUCKING INDUSTRY NEWS USA & Canada

* USA/Texas - Greenbriar Wins Bidding War for Dynamex

Dallas,TX,USA -The Journal of Commerce Online, by William B. Cassidy -Dec 1, 2010: -- Same-day carrier Dynamex accepted a sweetened acquisition offer of $238 million from Greenbriar Equity Group, turning down a rival offer from an unnamed suitor... Greenbriar upped its offer for Dynamex from an initial $210 million. The deal will add Dynamex to Greenbriar's $1.5 billion portfolio of transportation investments... Greenbriar's rival for Dynamex may have been Canadian transport giant TransForce, according to a report in Canada's The Globe and Mail newspaper... Dynamex sources 38 percent of its sales in Canada -- roughly $154 million in its last fiscal year, up 6.8 percent from the previous year... (Photo from hankstruckpictures: Here is a GMC D unit from Dynamix based in Cambridge, Ont., CAN)


* Canada - Vitran Sells Truckload Assets. Cross-border trucker to focus on expanding LTL, supply chain business

Toronto,ONT,CAN -The Journal of Commerce Online, by William B. Cassidy -Dec 1, 2010: -- Vitran is selling off most of its truckload assets for $5 million to focus on its core less-than-truckload and logistics business, the Canadian-based company said... Online Transport of Indianapolis is buying nearly 800 trailers operated by Frontier Transport, while Vitran will add 174 of Frontier's newest trailers to its LTL division... President and CEO Rick Gaetz said Frontier had taken "a back seat" over the past few years at Vitran, which reported $629 million in revenue in 2009... Frontier accounted for less than 5 percent of the Toronto-based company's revenue in the last quarter, and while profitable, it had an operating ratio of 99.2... Its truckload revenue also dropped compared with the previous quarter, while LTL rose about 1.2 percent on a small sequential quarterly increase in shipments... (Photo from t0.gstatic: Vitran)

* USA/Arizona - Swift Sets $1 Billion Target in IPO

Phoenix,AZ,USA -The Journal of Commerce Online by William B. Cassidy -Dec 2, 2010: -- Carrier ups ante in plan to return to Wall Street, public ownership...   Swift Transportation raised the stakes in its initial public offering this week to $1 billion as it launched a stock sale first announced in August...   Back then, the company expected to raise about $700 million on Wall Street. It now expects to raise a maximum of $1 billion selling 67 million shares at $15 each...   Swift Transportation is the nation's largest truckload operator when ranked by revenue, with $2.6 billion in sales last year and a net loss of $435.6 million...  The carrier's operating margin rose from 3.5 percent in the first quarter to 8.3 percent in the second quarter and 10.8 percent in the third, it said Nov. 30... (Photo from t1.gstatic)