IFCR $$$ !! News Update !!
Transportation Market Trends Bode Well for IFCR Marketwire "Press Releases"
DANBURY, CT -- ( Marketwired ) -- 06/05/15 -- Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States , discussed key market trends and Integrated's solid performance in relation to key data points provided by industry analyst.
According to the May 2015 Stifel Transportation & Logistics Research Group , the current weekly Market Demand Index (MDI) for 2015 is largely flat nationwide reflecting a general slowdown in the American economy. MDI data reflects generally better demand than 2013 but well below the sustained demand levels of 2014. Demand for the first half of 2015 has remained at or near its five year moving average but truckload pricing is still trending upward, although at a slower pace than in 2014.
The Journal of Commerce in April 2015 reported that freight demand in most sectors of the trucking industry remained solid. However, because of the shortage of qualified truck drivers in the United States , freight markets reflect substantial upward price pressure as motor carriers raise pay rates to attract and retain drivers.
Last month transportation magazine, Fleet Owner, reported new data from the American Trucking Association that project a current shortage of 35,000 to 40,000 truck drivers. According to the ATA, the industry will require 240,000 new drivers by 2023 to meet the expected market demand. Nationwide motor carriers are reporting high driver turnover rates and more idle trucks requiring drivers.
Following driver wages, the highest cost of operations for truckers is fuel. Again, according to recent reports from Stifel Transportation, overall demand for diesel and gasoline products continues to increase more slowly than production growth. As a result, there will be continued downward pressure on fuel prices in the foreseeable future. This trend includes highway diesel prices.
David N. Fuselier , CEO of Integrated Freight , stated, "This trend bodes well for IFCR and is quite positive: demand in all of our niche markets remains solid day in and day out. Our customers' demand is less reactive to market downturns than the general market -- we are well-positioned for growth as the economy improves. Unlike the broader market, presently all of our trucks are fully staffed with qualified drivers. Despite the less robust overall market demand, our subsidiaries continue to report shipment demand well in excess of our capacity resources and the general market. There is significant back pressure on our operations and, therefore, our working capital and equipment credit facilities."
"As a committed niche motor carrier, we take advantage of our shippers' traffic characteristics to improve our drivers' work life and, as a result, our overall recruiting and retention of qualified drivers," said Hank Hoffman , IFCR's president. "Our planned organic and acquisition growth reflects our commitment to understanding key market indicators as well as our niche customers' needs. That commitment will help us build long-term value at IFCR."
About Integrated Freight Corporation Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas , California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America .
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission .
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
Contact: Hank Hoffman President and COO Integrated Freight Corporation 417-434-1782 David N. Fuselier CEO Integrated Freight Corporation 203-628-7142
Source: Integrated Freight Corporation
