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For those who run Ceva loads..good news.

OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
CEVA Refinances $1.33 Billion in Debt

JOC Staff | Mar 25, 2010 7:08PM GMT
The Journal of Commerce Online - News Story



Logistics company says flexibility in growth strategy is main goal

Logistics provider CEVA Group refinanced some $1.33 billion in debt this week, extending the maturity date and giving the company greater financial flexibility.

The actions on various notes due to reach maturity between 2014 and 2016 extended the maturity dates until 2018, CEVA said.

The refinanced notes included notes held by CEVA’s principal owner, private equity firm Apollo Management.

CEVA CEO John Pattullo said the transactions are “part of our ongoing strategy to take reasonable opportunities to extend our maturities as they arise and reduce our debt.”

The moves help the company “increase our flexibility and ensure CEVA meets its growth aspirations and is able to support our customers’ supply chain needs.”

Created by Apollo through the merger of the former EGL Global Logistics and TNT Logistics operations, CEVA counted $7.3 billion in gross revenue last year, down 13.2 percent from the year before.
 
nightcreacher

nightcreacher

Veteran Expediter
I don't know what Ceva pays their owner opps,but the one I did last week paid me
$1122 for 477 miles.This was better than what FDCC paid me last year when I did one for them
 
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Dakota

Dakota

Veteran Expediter
It's no secret so here is straight truck pay for an expedite load 1.20 a mile plus fsc. Problem is once you get to the delivery trying to get a load back or somewhere else is few and far between.
local work pays a 65/35
Some runs pay really well, some don't and pickups don't pay well at all, but better than nothing:)
the one thing I don't agree with is that they take 35% of fsc but I pay 100% of all fuel
I really do hope our local office turns around, because there is money to be made, we just need to get rid of the dead weight :(
 
Dakota

Dakota

Veteran Expediter
nightcreacher said:
I don't know what Ceva pays their owner opps,but the one I did last week paid me
$1122 for 477 miles.This was better than what FDCC paid me last year when I did one for them
Click to expand...

They will pay outside agents a great rate, we do not get that usually. Every once in a while if we say no they will up the offer. Example a run that pays me 122 plus fsc and I turn it down because I am working for another company is offered to another driver who doesn't really want to do it, but they will give him 300. This has almost created a barter system for runs now, because using an outside agent is more expensive
 
Dakota

Dakota

Veteran Expediter
I do know each office is in competition with each other, even though it is the same company, not like I can try to call other offices for work
 
OntarioVanMan

OntarioVanMan

Retired Expediter
Owner/Operator
Dakota said:
I do know each office is in competition with each other, even though it is the same company, not like I can try to call other offices for work
Click to expand...

My last carrier Dynamex was like that too...an office in every city but they were run on separate budgets...
 
G

geo

Veteran Expediter
Charter Member
Retired Expediter
US Navy
ceva has many different rates and when i say i'm going to take off , and if they ask me not to take off i know i will beable to get more money
 
Jefferson3000

Jefferson3000

Expert Expediter
OntarioVanMan said:
I thought they had to pay 100% FSC to the payer of the fuel?
Click to expand...

OVM,

there are different divisions of Ceva, just like the Fed. Ceva Ground, which does the truckload as well as linehaul for the air freight forwarding offices, Ceva Freight Mgmt, which is the freight forwarding offices, Ceva Freight, Inc. aka Ceva Expedite, based in Romulus, which has about ten owner ops and brokers the rest to the Alliance. Then there is Ceva Ocean, etc. You may be getting your load through the expedite division in Romulus, which has one set of rules for contractors, while Dakota runs for a local agent. There are differing rules within.
 
Dakota

Dakota

Veteran Expediter
Jefferson3000 said:
OVM,

there are different divisions of Ceva, just like the Fed. Ceva Ground, which does the truckload as well as linehaul for the air freight forwarding offices, Ceva Freight Mgmt, which is the freight forwarding offices, Ceva Freight, Inc. aka Ceva Expedite, based in Romulus, which has about ten owner ops and brokers the rest to the Alliance. Then there is Ceva Ocean, etc. You may be getting your load through the expedite division in Romulus, which has one set of rules for contractors, while Dakota runs for a local agent. There are differing rules within.
Click to expand...

I have Ceva Freight on my truck but have not run anything for the expedite in over a year. I do still run for the local office though. Funny because I used to run for them at least twice a month and then they quit calling me, no loss though as those were money losing runs for me.
Ceva Ground is probably only the tractor trailers and they do very well from what I hear, but alot of their loads are set linehauls or accounts like Honda in Marysville, Ohio
 
Dakota

Dakota

Veteran Expediter
geo said:
ceva has many different rates and when i say i'm going to take off , and if they ask me not to take off i know i will beable to get more money
Click to expand...

Yeah, that is exactly how it works. I know exactly how much I need based on the miles/round trip So if the offer is too low I tell them what I need and usually get it if I am available.
If it is a pickup that is nearby and not to much of a hassle I don't usually haggle since I am already there.
 
Dakota

Dakota

Veteran Expediter
Everyone in our office just got the 30 day notice, that our contract is ending. I had a feeling for the last six months this was happening. another driver happened to hear part of a conference call 6 offices closing this round and then another 11 to close. I can't say I am shocked or suprised, and have plenty of work ahead of me. It pays to stay in the know and have a backup plan.
 
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Jack_Berry

Jack_Berry

Moderator Emeritus
does it mean that dispatch will now tell me i am picking up at ceva instead of xyz company and still give us the ceva bldg address?
 
Dakota

Dakota

Veteran Expediter
Been a stressful week, even though 30 day notice was given, I have a feeling the office is going to be locking it's doors well before then. They already have had three semi's come by to clear out the warehouse and remove the junk in there. A few of the drivers have basically said they won't do anymore for Ceva as pay issues and such are a fear. I feel sorry for the employees of the office they came in on Tuesday and were told to go home, that was it. our dispatcher/Jill of all trades LOL was just recently promoted two weeks ago, so she gave up her weekend bartending job :(
I know it's never easy to close down an office, but it seems they could have done it in a more honorable way.
 
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