According to FTR Transportation Intelligence, orders of Class 8 trucks – the heavy-duty trucks that commonly carry goods between cities – reached 133,900 for the first quarter of 2018. The orders represent a 98.4% increase from the first quarter of 2017 and the highest level of orders since 2006.
Trucking spot rates have increased considerably since electronic logging devices (ELDs) became enforced on December 18th. According to DAT Solutions, for the week ending January 6th, spot rates for dry van shipments averaged $2.30, up 10.6% from the $2.08 average reported for the week just before ELDs became law. Similarly, spot rates for refrigerated and flatbed trailers increased to $2.71 and $2.42 – up 14.8% and 4.3%, respectively, over the same period.
Daseke continued its streak of acquisitions by acquiring Belmont Enterprises through its wholly owned subsidiary, Smokey Point Distributing. Olympia, Washington-based Belmont is a dedicated hauler for the residential glass market (STOCE). The acquisition adds to Daseke’s current glass capabilities after acquiring Moore Freight Service last month.
December 18th marked the first day of enforcement of electronic logging devices (“ELDs”) for truckers. Once regulated using easy-to-“fudge” paper logs, drivers now must log their duty status into an electronic device that monitors hours of service.
Skyline Advisors is a division of Ideation Ventures, Inc. Services involving securities are offered through M&A Securities Group, Inc. (“MAS”). Services involving real estate brokerage are offered through Berkshire Hathaway HomeServices Ambassador Real Estate ("BHHS"). Skyline, MAS, and BHHS are separate entities.
COPYRIGHT 2019. ALL RIGHTS RESERVED.