Market Overview

Today's Pickup: Technology Deployment Specialist Velociti Enters Construction Market

Today's Pickup: Technology Deployment Specialist Velociti Enters Construction Market

Good day,

Already established in the commercial truck market, Velociti is now entering the booming construction markets, the company said. Velociti provides onsite installation and support for technology deployment.

"The construction industry is adopting technology to reduce downtime, improve the bottom line, eliminate critical safety risks and protect the business, all while gaining a competitive edge," said Deryk Powell, president of Velociti. "As they are increasingly driven by interconnected technologies in the field and in their facilities, Velociti is expanding its capabilities and expertise to meet their deployment and support needs."

The company has added two senior members of its team to facilitate the expansion. Courtney DeMilio will serve as vice president of strategic alliances and Megan Blevins joins as senior director of marketing.

DeMilio brings more than 20 years of experience in technology for vehicles, assets, and cargo and construction equipment to Velociti.

Construction firms have increasingly adopted technology as they seek ways to improve efficiencies and as technology makers have adapted the technologies to suit the unique construction markets.

Velociti has also expanded the availability of VeloCare, its proactive technology monitoring and repair service to a wide range of industries. VeloCare now works with more than 25 different technology providers and its proactive monitoring has been used on 430,000 vehicle, asset and facility systems in transportation, retail, distribution, manufacturing, healthcare, government, education, and food service businesses.

Did you know?

TuSimple, which is working to bring self-driving trucks to reality, has raised an additional $120 million in a Series D funding round. That brings total investment of $298.1 million into the company, according to Crunchbase.


"The attack will primarily impact Saudi's production of lighter crude grades, Arab Extra Light and Arab Light. These light crude grades generally produce more mid-distillates at the expense of residual output and thus are seeing increased demand on the back of IMO 2020 sulfur fuel regulations. For this reason, lost production of light crude oil could make it more difficult for the global refining industry to meet the IMO 2020 demand shift while also driving a widening of fuel price spreads."

-Amit Mehrotra, transportation analyst at Deutsche Bank

In other news:

Guam creates path for future truckers

To help address a truck driver shortage in the country, a college in Guam has partnered with six companies for a truck driver boot camp. (The Guam Daily Post)

Will Ford and GM beat Tesla to the electric pickup punch?

As Tesla Inc (NASDAQ: TSLA) looks to launch its electric pickup, has Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) already beaten it to the punch? (Market Realist)

FAA to review 737 MAX updates

The head of the FAA is traveling to Seattle to review Boeing Co's (NYSE: BA) updates to the 737 MAX plane. (American Journal of Transportation)

Turkish Airlines defies cargo volume decline

Despite a global drop in cargo volumes, Turkish Airlines posted an 11.5% increase in volumes in August. (Albawaba)

Report finds maritime subsidies are a waste of money

A new report says that government subsidies for maritime operations are a waste of taxpayer money and require a complete overhaul in their administration to be effective. (Splash247)

Final Thoughts

A lack of drivers is not a unique problem to North America as other parts of the world also face a decline in the number of new entrants to the profession. Guam is working to fix this. Guam Community College has partnered with six local trucking companies to hold a Truck Driving Transportation Boot Camp. The three-month-long camp will train the participants on the finer points of driving, as well as on work ethic, occupational safety and health, career readiness and basic first aid. The college worked with the companies to screen the participants to ensure they all met the minimum requirements set by the companies.

Hammer down everyone!

Image Sourced from Pixabay

Posted-In: construction Freight Freightwaves Logistics shippingNews Markets General


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