China will contribute $40bn to set up a Silk Road infrastructure fund to boost connectivity across Asia, President Xi Jinping announced on Saturday, the latest Chinese project to spread the largesse of its own economic growth.
The average spot van rate on DAT load boards was unchanged at $2.01 per mile during the week ending Nov. 1, according to DAT Solutions, which operates the DAT network of load boards (all figures include fuel surcharge). This is the third straight week the average van rate has been unchanged. Van rates have been above $2.00 per mile for most of 2014.
The total cost of ground transportation for Canadian shippers dropped by 0.97 percent in August when compared with July results, according to results published by the Canadian General Freight Index.
Medium- and heavy-duty trucks and other commercial vehicles classes 5-8 orders were at healthy levels again in September. Total net orders for Class 8 were 24,842 units, up 31 percent year over year. Classes 5-7 net orders, at 19,486, rose to their third-strongest level since early 2008. These results were published in the latest State of the Industry report, recently released by ACT Research Co. (ACT). The report covers Classes 5 through 8 vehicles for the North American market.
Van, refrigerated, and flatbed capacity on DAT load boards expanded 3.6 percent while available freight slipped 5.0 percent during the week ending Oct. 11, according to DAT Solutions, which operates the DAT network of load boards.
Total reported volumes of used Class 8 trucks fell 10 percent month over month and 6 percent year over year in August, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
The pace of China's economy rose slightly in Q2'14, with growth of 7.5 percent on a year-over-year basis, mirroring the rate witnessed in the same period last year, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center. It includes an overview of the China economy and a review and forecast of China's heavy and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
North American freight volumes bounced back in August from a normal July dip, but did not cause a similar increase in freight spending. Compared to July, spending was down slightly.
Demand for commercial vehicles remained healthy in August as 43,100 total NA Classes 5-8 orders were booked. Over the course of the past 12 months, NA Classes 5-8 net orders have totaled 531,500 units, an improvement of 20 percent/90,000 units compared to the preceding 12-month period.
Results published by the Canadian General Freight Index (CGFI) indicate that the total cost of ground transportation for Canadian shippers slipped by 1.8 percent in June when compared with May results.
