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The number of available loads on the spot truckload market decreased 2.4% while capacity increased 4.5% during the week of April 25 compared to the previous week, according to DAT Solutions, which operates the DAT network of load boards.
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At the National Private Truck Council annual meeting, economist Kenny Vieth declared private fleets are now “sitting in the catbird seat” because they are “poised for growth” as the economy keeps gaining speed and freight volumes keep rising.
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Paccar is recalling 443 model year 2015-2016 Peterbilt 220 and Kenworth K300 trucks for a problem with the cruise control decrease button, according to the NHTSA.
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Port truck drivers from four trucking companies continued picketing at the Ports of Los Angeles and Long Beach, disrupting cargo operations across Southern California as far south as the border.
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Truckload carrier Celadon Group Inc., reported its profit in the first quarter of the year more than doubled from the same time a year ago.
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A measure of U.S. consumer confidence fell in April, its biggest drop since October 2013 and the lowest level in four months.
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Profit for package delivery and trucking giant UPS Inc. increased 12.6% in the first quarter from the same time in 2014.
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Cummins Inc. reported its first quarter profit increased 14% from the same time a year ago, totaling $387 million, driven by stronger demand in on-highway markets and distributor acquisitions in North America.
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Swift Transportation Co. tripled its net income in the first quarter of the year, totaling $37.8 million, or diluted earnings per share of 26 cents, compared to $12.3 million, or 9 cents per share a year earlier.
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The average U.S. cost of on-highway diesel moved higher on Monday for the second straight week as oil prices also gained last week.
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