September 2015 Newsletter

XPO to Buy Con-way for $3 Billion
XPO Logistics said it has agreed to acquire Con-way Inc. for $3 billion to broaden its supply chain offerings into less-than-truckload and U.S. truckload freight and create a company with annual revenue of $15 billion.

Spot Van, Refrigerated Rates Rebound Slightly
Spot truckload van and refrigerated freight rates finally recovered a little last week after a period of higher demand and declining fuel surcharges, while flatbeds continued to lose ground, according to DAT Solutions, which operates the DAT network of load boards.

Secretary Foxx: Congress ‘Can Achieve a Bipartisan Bill’ (with video) 
WASHINGTON – With about a week to go before a House transportation panel takes up a multiyear highway bill, the country’s top transportation officer said the timing is right for both chambers of Congress to finally approve such legislation.

TCA Seeks Best Fleets to Drive For Nominations 
The Truckload Carriers Association and CarriersEdge are seeking nominations from professional truck drivers for the annual Best Fleets to Drive For contest.

How Startups are Using Big Data to Manage the Holiday Cargo Rush 
Several startups have sprung up to help manage the complicated flow of data involved with the movement of goods.

FHWA Seeking Comment on Truck Size and Weight Study
The Federal Highway Administration is seeking comments through Oct. 13 on its June technical report on the agency’s congressionally mandated Comprehensive Truck Size and Weight Limits Study.

Dicom Acquires Eastern Connection
Private-equity investment firm Wind Point Partners said its Dicom Transportation Group, a business-to-business expedited transportation service based in Montreal, acquired Eastern Connection, a regional overnight parcel business that operates in the northeastern United States.

US Diesel Average Increases for 1st Time in 14 Weeks
Labor Day marked the end of the 14-week price holiday for diesel, as the U.S. average retail price rose by 2 cents a gallon to $2.534, the first such increase since Memorial Day.

Ryder Destroys Volvo Truck in Demo, Challenges Technicians to Fix in 24 Hours
Ryder challenged a team of its technicians to repair a tractor that had run over a spike strip, drove through an exploding debris field and was hit with a 2-ton wrecking ball as part of its “Project Rebirth.”

Ryder Is Hiring Truck Drivers NATIONWIDE!
We are currently seeking drivers in your area. If you are ready to take the next step in your career, we invite you to apply today!

UPS Adds 125 Hybrid Step Vans
UPS has purchased 125 Workhorse E-Gen gasoline-electric hybrid step vans to reduce operating costs and save fuel, the Atlanta-based parcel delivery company announced. The E-Gen trucks will be replacing gasoline-powered vehicles.

18 Ways to Improve the Upfit Planning Process
A “dream team” of 18 fleet truck experts was assembled to discuss ways to optimize the upfitting process. These subject-matter experts reveal how to avoid common upfitting mistakes. It all starts with proper planning.

Commercial Truck Registrations Rise 12 Percent
Commercial and government fleets added 350,837 trucks in classes 3-8 through the first half of 2015 for a 12.1 percent increase from the comparable period a year ago, according to IHS Automotive’s second quarter commercial vehicle report.

Truck Fleets Support Higher Fuel Efficiency Standards
A high percentage of fleet operators recently surveyed by the California clean transportation consortium CALSTART generally support higher national fuel efficiency standards for medium- and heavy-duty trucks, reported Natural Gas Intelligence.

Good News on Trust Fund Is Not Necessarily Good News for Highway Bill
Transportation-policy consultant Ken Orski argues in his latest Innovation NewsBrief update that the urgency to pass a long-term highway bill has “largely vanished” thanks to the Dept. of Transportation revealing that the Highway Trust Fund isn’t in imminent danger of running dry.

FREE WEBINAR

Cummins Filtration offers a choice of coolant (antifreeze) products in North America that meet the needs of many types of engines, ranging from diesel to natural gas to gasoline. Join us for a free webinar on Wednesday, September 30th at 11:00 AM PT/2:00 PM ET to find out how Fleetguard coolant can protect your engine!

This Webinar Will Cover:

  • Fully-Formulated Heavy-Duty Antifreeze/Coolants
  • Cooling System Cleaners
  • Field and Laboratory Testing
  • Common Cooling Issues

 

How Much Money Can I Make As An Owner Operator

 

Average Per Mile For Independent Truck Drivers

Owner Operator

Finally being able to buy your own truck and become an owner-operator rather than working for someone else is a dream come true for most people in the transportation industry. However, with being your own boss, setting your own hours and making your own business decisions comes the responsibility for making your business profitable. After all, it you don’t cover your expenses, you don’t get paid yourself.

Commercial truck loans

Since the price of most semis and other commercial trucks is usually too steep to be able to afford with just one’s savings, most owner-operators will need to take out a semi truck loan to make their dream possible. That brings the added pressure to make enough money each month to be able to make that payment to the commercial truck lender and still have money left over for your other business expenses and for you and your family.

Income per mile and your loan payment

One of the easiest ways to make sure that you’re earning enough each month to comfortably make that truck loan payment is to compare how much you earn per mile to your loan payment. That way you know can quickly calculate how many miles you’ll need to drive just to have the money for your loan. Of course, different sector of the transportation industry have different average incomes per mile. Below is a brief overview of what owner/operators in different parts of the industry can expect to earn per mile and the average monthly payment for a good truck to work in that sector:

Flat bed trucks

  • Average income per mile: $1.75 to $1.95 per mile
  • Average truck payment:

Waste disposal trucks

  • Average income per mile: $.85 to $1 per mile
  • Average truck payment:

General goods truck

  • Average income per mile: $2 to $2.24 per mile
  • Average truck payment:

Container truck

  • Average income per mile: $2.50 to $3 per mile
  • Average truck payment:

Of course, the amount you ultimately earn will depend on your part of the country, the competition and the demand for your services. However, this figures will give you an idea of how much and how hard you’ll have to work to make your trucking business a success. While being your own boss can be a great way to create financial security for you and your family, it requires a day-to-day commitment to selling your services, doing the work and providing superior customer service.