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Penske Logistics is a wholly owned subsidiary of Penske Truck Leasing that has operations in North America, South America, Europe, and Asia. Penske Logistics provides supply chain management and logistics services such as dedicated carriage, distribution center management, transportation management, lead logistics, supply chain consulting, and freight brokerage services.
Starting with just a handful of trucks and one service center in Phoenix, Arizona, the company now runs a fleet of over 4,000 trucks and more than 8,700 trailers (dry, refrigerated, and brokerage). Revenues have grown from over 13 million in 1991 to over $866 million in 2011, with operating ratios at or near 80% year after year.
A refrigerator truck or chiller lorry (also called a reefer), is a van or truck designed to carry perishable freight at low temperatures. Most long-distance refrigerated transport by truck is done in articulated trucks pulling refrigerated hardside (box) semi-trailers , although insulated curtainsiders are common in some countries.
Co-brokering is a legal practice used to ensure there is an available truck to transport freight. A 4PL may use a 3PL broker to match loads with trucks, with a shippers knowledge. The primary broker will take a lesser amount of the fee and the secondary broker will book the load for transport receiving a larger share of the same fee. [7]
A contract of carriage is a contract between a carrier of cargo or passengers and the consignor, consignee or passenger. [1] Contracts of carriage typically define the rights, duties and liabilities of parties to the contract, addressing topics such as acts of God and including clauses such as force majeure (removing liability for extraordinary occurrences beyond control of the parties). [2]
Those assets were rolled into Moyes's small Central Freight Lines out of Texas, and later spun off as the separate entity Central Refrigerated Service, which remained wholly owned by Moyes until its subsequent sale to and merger with Swift. [citation needed] That sale was announced in summer 2013, [11] and the merger completed on February 1 ...