Market Overview

Today's Pickup: Konexial Acquires Axle Technologies AOBRD Customers

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Today's Pickup: Konexial Acquires Axle Technologies AOBRD Customers

Good day,

Konexial, which sells the My20 ELD, has acquired the complete list of Axle Technologies automatic onboard recording device (AOBRD) customers. Konexial said it will immediately begin transitioning those customers over to its ELD device ahead of the federal Dec. 16, 2019, deadline to do so.

All truck drivers currently running AOBRDs must begin using an ELD by that date. According to the latest weekly FreightWaves/ERoad and CarrierLists survey, just 3% of carriers continue to operate on AOBRDs. Overall, the survey indicates that most carriers are now compliant.

Axle's customers were not, but the sale to Konexial will ensure they have access to an ELD before the deadline. 

"We were very impressed by both the organization and customer roster that the Axle team developed and felt that their device would be a perfect fit with the Konexial family of products," said Andy Dishner, chief operating officer for Konexial. "This transaction will expand Konexial's roster of ELD customers while converting Axle customers to telematics technology well in time for the AOBRD deadline."

As part of the transition, Axle customers will have the opportunity to access Konexial's My20 Tower product. The product "contains everything needed to meet FMCSA electronic logging device compliance, while receiving real-time data on all trucks and drivers on the road," Dishner said.

Following the integration with Konexial, data from Axle devices can be used to dynamically match up drivers who have extra hours and capacity with available loads from shippers via Konexial's GoLoad dynamic load matching platform, the company said. Loads are matched based on location, direction, hours of service, and economic criteria.

Did you know?

Both FedEx and UPS have ramped up medical drone deliveries in the last week. FedEx Corporation (NYSE: FDX) has partnered with drone-operator Wing to make Walgreen's (NASDAQ: WBA) pharmacy deliveries to customers in Christianburg, Virginia. UPS Inc. (NYSE: UPS), meanwhile, is now making drone deliveries with partners CVS Health Corp (NYSE: CVS), AmerisourceBergen Corp. (NYSE: ABC), and Kaiser Permanente.

Quotable:

"With less than three months until the IMO's new low-sulfur marine shipping regulations power up, we are seeing a number of positive price signals that indicate IMO impacts are beginning to roll into the market."

-Tudor Pickering Holt & Co, an investment bank focusing on the oil industry, on IMO 2020 price impacts for diesel and gasoline

In other news:

Supply chain moving slowly to cut emissions

Financial concerns have slowed widespread movement to a greener supply chain, but many companies are now ramping up efforts. (The Loadstar)

Hyundai to introduce fuel cell truck

Hyundai will introduce a fuel cell truck and concept refrigerated trailer next week at the North American Commercial Vehicle Show in Atlanta. (Prime Mover

Love's to sell Hankook Tire products

Love's Travel Stops is now selling Hankook Tire products, which will also be available at Speedco locations. (Heavy Duty Trucking)

Port of Seattle expansion underway

A $500 million expansion of the Port of Seattle has begun. The expansion will modernize Terminal 5, which has not been used since 2014. (Construction Equipment Guide)

London rail station reinvents itself as freight hub

A plan to avoid the London ultra-low emissions zone is helping a local rail station to transform itself into a freight logistics hub. (Financial Times)

Final Thoughts

The California Air Resources Board (CARB) is expected to announce electric-truck standards today. Before they are even released, though, groups are coming out in opposition, some opposed to standards, and others saying they don't go far enough. Like most rules that originate in California, the Advanced Clean Truck Rule will alter vehicle production as manufacturers and end users react and ultimately comply with the new regulations.    

Hammer down everyone!

Image Sourced from Pixabay

Posted-In: acquisition ELD FreightEarnings News Markets Tech General

 

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