Business

Several of the country’s largest publicly traded truckload carriers reported a mixture of modest profit declines and some gains for the second quarter, with most citing a soft freight market.

Heavy-duty truck makers reported lower second-quarter profits and revenue, compared with a year ago, as the U.S. economy gradually improves.

The minimum injury and property damage insurance level for trucking companies would rise nearly 500% to $4.4 million from the current $750,000 under a measure proposed by a congressman who said the current level is insufficient to protect crash victims.

The move by Rep. Matt Cartwright to force all motor carriers to increase their minimum injury and property damage insurance coverage by almost 500% is a misguided solution in search of a problem.

Truck tonnage jumped 5.9% last month from a year ago as heavy freight for housing, automotive and other customers continued to push American Trucking Associations’ cargo index higher.

Fleets ordered 15,386 new trailers in June from U.S. manufacturers, an 8.6% increase from a year ago and the second monthly gain in the past three, ACT Research reported.

What transportation fuel is America’s third most popular after gasoline and diesel? It’s not natural gas.

UPS Inc.’s second-quarter net income fell 4% to $1.07 billion from a year earlier, weighed down, company officials said, by slumping international freight forwarding and some customer hesitation to make package shipping commitments during Teamsters union contract talks.

Retail diesel prices continued to climb last week, with the national average rising 3.6 cents to $3.903 a gallon, the third straight weekly increase, the Department of Energy reported.

P.A.M. Transportation Services said its second-quarter net income improved from a year ago.