The Official Blog of Penske Transportation Solutions

Logistics

The recent run-up in fuel prices for gasoline and diesel has commercial truck fleet managers and operators once again re-evaluating their fuel strategies and options. Last week, the Department of Energy reported diesel rose 5.3 cents to $4.157 a gallon -- its fifth straight increase. This is highest price for diesel in about four-and-a-half years. Gasoline also rose significantly with nine consecutive increases and it has reached a high unseen since last October at $3.747. In periods like this it’s a good idea to focus on fundamentals when you are operating a fleet of trucks or even just one truck.

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Penske Truck Leasing is participating in career fairs this month at schools and organizations nationwide for various employment opportunities.

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Penske Truck Leasing has announced the winners of its 2012-2013 National Technical Challenge. The Tech Challenge is a company event that will be held every other year to test the skillsets of its truck maintenance technician workforce via hands-on and written assessments. There were two types of entries: a two-person vehicle systems team and individual competitors in the preventive maintenance (PM) event.

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Penske will take part in a Milicruit online career fair on Dec. 19 from 1 p.m. to 4 p.m. ET.Milicruit is a website devoted to pairing U.S. military veterans with prospective employers. This event is open to both military veterans and military spouses. Visit http://www.veteranscareerfair.com/to register.

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The driver shortage remains a top concern for private fleets and for-hire carriers alike. The National Private Truck Council (NPTC) called the driver shortage a “chronic problem” in its 2012 Benchmarking Survey, and the American Trucking Research Institute’s (ATRI) 2012 “Critical Issues” survey said the driver shortage placed fourth on the list of top industry concerns,with nearly 13 percent of respondents selecting it as the most serious issue.

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As the trucking industry works to attract new drivers, federal and state legislation is making it easier for veterans and active-duty members of the military to obtain their commercial driver’s license (CDL) and become professional drivers.

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Penske will participate in a Milicruit online career fair on Nov. 13, from 1 p.m. to 4 p.m. ET.Milicruit is a website devoted to pairing U.S. military veterans with prospective employers. This event is open to both military veterans and military spouses. Visit http://www.veteranscareerfair.com/to register.

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Penske Logistics driver Neil Kirk is among the 32 truck drivers recently named as finalists in the selection process to become Captains for American Trucking Assocations’ 2012-2013 America’s Road Team. This group of professional truck drivers share superior driving skills and safety records, and help spread the word about safety on the highway.

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At the global headquarters of Penske Truck Leasing and Penske Logistics in Reading, Pa., the company’s 24/7 Roadside Assistance Center is hard at work, servicing customers during Hurricane Sandy. This photo was taken this morning.

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Important Penske Information & Numbers

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Penske Truck Leasing and Penske Logistics will be exhibitors at this year’s International Foodservice Distributors Association (IFDA)Distribution Solutions Conference, Oct. 29 to Oct 31. It will take place at the Rio All-Suite Hotel in Las Vegas.

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Penske Truck Leasing Co., L.P. (“PTL”) today announced that it completed an initial asset-backed bank conduit facility with a group of six banks for approximately $450 million. The available capacity of the facility is $750 million. PTL expects to use the net proceeds to repay borrowings on its credit facility from General Electric Capital Corporation (GECC).

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Third-party logistics providers are guardedly optimistic about future revenue growth within the industry and turning to near-shoring, capturing increasing amounts of data and adding services to boost profitability.

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Penske Truck Leasing and Penske Logistics are looking for upcoming graduates, recent graduates or alumni of schools nationwide to join our diverse and talented team.

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Penske Truck Leasing Co., L.P. (“PTL”) and its wholly owned subsidiary PTL Finance Corporation announced they have issued an aggregate of $1.5 billion of senior notes in two tranches with 3.5 year and 5.5 year maturities at rates of 2.50 percent and 3.375 percent, respectively. Net proceeds of the offering will be used to repay borrowings on PTL's bank revolver and its credit facility from General Electric Capital Corporation (GECC). This is the third successful offering PTL has completed in 2012. The current offering was managed by Bank of America Merrill Lynch, J.P. Morgan and Wells Fargo Securities.

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Penske Logistics’ commitment to driving industry thought leadership will be evident again at this year’s Council of Supply Chain Management Professionals (CSCMP) Annual Global Conference in Atlanta. The conference takes place at the Georgia World Congress Center from Sept. 30 to Oct. 3. Penske Logistics is a global event sponsor. Joe Gallick, senior vice president of global logistics sales, will serve as a panelist and speaker during two key industry sessions.

CSCMP State of Logistics Report Update - Tues., Oct. 2 at 9:45 a.m. ET, Room B406

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Earlier today, the space shuttleEndeavour made its final flight after 30 years of service. Penske associate Brandon Wade captured this incredible image as the shuttle passed over the company's location in Carson, Calif.

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In recognition of this week’s National Truck Driver Appreciation Week, Penske Logistics acknowledges its six drivers who were nominated for Truck Renting and Leasing Association’s (TRALA) 2012 Driver of the Year Award earlier this year.

TRALA presents this award annually to a driver who demonstrates excellence in driving and safety standards throughout his/her professional driving career.

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Penske Truck Leasing and Penske Logistics are looking for energetic alumni and recent or soon-to-be graduates from the University of Tennessee and the Florida International University to join our diverse and talented team.

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