Today’s Pickup: Titanium Transportation Group opens second US office

Titanium transportation


Canada’s Titanium Transportation
Group (TSX-V:TTR) has
opened its second U.S. office as it continues to build its presence in this
country. The Bolton, Ontario, company opened a Charlotte, North Carolina,
office in March 2019, and has now opened its second in Nashville, Tennessee.

announcement reflects our commitment to organic growth as we continue to
execute on opportunities for the company across North America,” Ted Daniel,
president and CEO of Titanium Transportation Group, said. “We are leveraging
our investment in technology and systems to continue building a scalable
business that supports strategic opportunities with minimal additional

Both offices operate under the
company’s U.S. subsidiary, Titanium American Logistics.

Daniel said that brokerage services
continue to be an “attractive asset-light business.”

“Our current business has
approximately two-thirds of the freight volumes originating with U.S.- based
clients,” Daniel said. “We see the operations contribute positively to our
organic earnings growth and we remain committed to continue to build on this
platform with the addition of future offices.”

On a call with financial analysts in August 2019, Daniel said the Charlotte office “exceeded
revenue targets by an outstanding 40% to 50%.

At the time, Daniel said Titanium planned to open up to two additional U.S. offices. Today’s announcement doesn’t indicate whether that is still true, but the company will report fourth-quarter and full-year earnings on Wednesday, March 11.

Did you know?

According to traffic firm Inrix,
Americans lost 99 hours per year due to traffic congestion, costing $1,377 per
driver. Boston was the worst area in the nation, with the average driver losing
149 hours because of traffic congestion.


“There’s always winners and losers in any market, but right now
the idea that lower gasoline prices are going to put more cash in workers’
pockets and give consumer spending and the economy a boost doesn’t seem to
cushion the blow for stock market investors. They want out. Big time. The sky
is falling.”

Chris Rupkey, Mitsubishi UFJ Financial Group’s chief financial economist, in an email to Yahoo Finance

In other news:

How many trucks can you stack?

Volvo Group, which has a history of
producing viral videos with its trucks, has done it again. This time, the
company’s CEO stands on top of four trucks, stacked one on top of another. (Car and Driver

LaneAxis reaches crowdfunding goal

LaneAxis, a technology-focused
logistics company, turned to the crowdfunding market to raise cash. The company
hits its $100,000 target goal in just two weeks, well ahead of the campaign’s
three-month target. (EIN Newsdesk)

Cargo theft taking a toll on drivers

A new study in Europe has found
that 33% of respondents believe cargo theft is negatively impacting their
mental health, and 46% know someone that has been victimized by cargo crime. (Securing Industry)

Effort to bring more women into aviation industry paying off

An effort to bring more women into
aviation industry jobs has signed up 59 global airlines to the campaign. (Stat Times)

As rails lower OR and boost stock price, when does the tipping point arrive?

Railroads have been lowering their
operating ratio (OR) and Wall Street has responded by boosting stock prices,
but at some point, OR declines will slow or even stop, and what happens then? (Railway Age)

Final thoughts

The collapse of oil prices this
weekend is a double-edged sword for trucking. Lower prices lead to lower diesel
prices, which is good for trucking and brokers as it makes moving goods cheaper
and increases profit margins. The lower prices are not good for the economy,
necessarily, especially those areas that are dependent on oil revenues. A study
from the Texas Oil & Gas Association said the industry paid $14 billion in
state and local taxes and state royalties in fiscal year 2018. Any long-term
depression of oil prices – and on Sunday evening a price for a barrel of crude
had fallen into the low $30-range, and the economy in areas dependent on oil
revenues could take a big hit, and that translates to fewer truckloads.

Hammer down, everyone!