The FTA met with the Treasury last Thursday (5 February) to discuss the real effect the plummeting cost of oil was having on the freight transport sector. Despite lower oil prices benefitting hauliers “to an extent”, the FTA said most operators are not seeing the 53% fall in bulk prices passed on to them because fuel duty, at 57.95ppl, is negating these savings. It added that because oil is traded in dollars, the weaker pound also dampened the effect. However, […]
Plenty more profit raking this week as transport shares took a tumble, but one faller stood out more than most: Wincanton – which has suffered a pretty dramatic fall in the past two months.
Wincanton has won a multi-million pound, five-year contract to set up and run a new DC in London for supermarket giant Morrisons. The deal will see Wincanton handle transport and warehousing for Morrisons from a 100,000sq-ft cross-dock facility to open in Feltham, west London early next year. The Feltham DC will be Morrisons’ first in London to be dedicated to serving its “M Local” convenience stores. It recently announced plans to open 20 new M Local stores across the UK […]
15) David Wells Title: Chief executive, FTA Wells succeeded Theo de Pencier as chief executive of the FTA at the beginning of May. It’s unusual that the chief executives of both associations are starting their period in office at similar junctions, which makes it hard not to make comparisons with the RHA’s Richard Burnett.