Weekly Market Update: Midwest Stability, Reefer Market Resurgence, and Peak Season Signals
Midwest Markets Hold Steady Amid Fluctuations Elsewhere As we move deeper into the summer, the Midwest continues to demonstrate stability in an otherwise fluctuating market landscape. Key Midwestern hubs like Indianapolis, Chicago, Columbus, and Joliet have maintained relative calm, experiencing a modest 3%-8% increase in market share month over month. This steady performance contrasts sharply…
J.B. Hunt Hits 50,000 Autonomous Trucking Miles with Kodiak Robotics
In a significant milestone for the trucking industry, J.B. Hunt Transport Services, Inc., in partnership with Kodiak Robotics and Bridgestone, has achieved 50,000 miles of autonomous long-haul trucking. This milestone highlights the potential of autonomous technology in transforming logistics and transportation. Key Highlights: Autonomous Milestone: J.B. Hunt’s collaboration with Kodiak Robotics has reached 50,000 autonomous…
The Aftermath of Hurricane Debby: Impact on Trucking and Shipments into Ports
Hurricane Debby has recently made headlines with its devastating impact on several coastal regions. As communities begin the recovery process, one industry significantly affected by this natural disaster is trucking and shipments into ports. In this post, we’ll explore how Hurricane Debby has disrupted these critical supply chain components and what it means for the…
Diesel Prices Continued Decline Amid Market Volatility
Diesel prices have been on a rollercoaster ride over the past few months, reflecting the volatile nature of global oil markets. The Department of Energy/Energy Information Administration (DOE/EIA) has reported a steady decline in diesel prices, marking significant implications for the transportation and logistics industries. In this post, we will explore the recent trends, underlying…
Market Trends Of The Week: Refrigerated Truckload Market on the Rise
As we navigate through August, the refrigerated truckload market, often referred to as the “reefer” market, is experiencing a notable surge in spot rates. This upward trend, which began in May, has outpaced the dry van sector, underscoring the seasonal and volatile nature of the reefer market. SONAR Tickers RTI.USA and NTI.USA reflect this rise,…
The CrowdStrike Outage: Impact on Freight Movement and Future Prevention Measures
On July 19, 2024, a critical software update by cybersecurity firm CrowdStrike caused a widespread IT outage that significantly disrupted the global supply chain. This event had far-reaching consequences, particularly for the trucking industry, which is a vital component of freight movement worldwide. The Incident and Its Immediate Effects The faulty update led to the…
The Hidden Perils of Untrained Truck Drivers on Our Roads
In a controversial move, Covenant Transportation Group recently received approval for a CDL exemption, sparking heated debates among truckers and industry experts. This exemption allows certain drivers to operate commercial vehicles without meeting the standard Commercial Driver’s License (CDL) requirements. While the company argues this will help address the driver shortage, it raises significant concerns…
The Future of Mexican Imports and the Rise of Cross-Border Freight
The future of Mexican imports into the U.S. is set to experience significant growth and transformation. Several factors are driving this trend, including changes in global supply chains, trade agreements, and strategic business expansions. Here’s a detailed look at the future of Mexican imports and the growing cross-border freight industry. Shifting Supply Chains and Increased…
Market Trends Of The Week: Truckload Demand Surges Despite Seasonal Slowdown
As we roll into the dog days of summer, the trucking industry is experiencing some noteworthy shifts. Let’s break down the latest data and what it means for those behind the wheel. Truckload Demand Sees Summer Surge Despite a sluggish start in late June, truckload demand has picked up significantly. The Contract Load Accepted Volume…
Upcoming October 2024 Rulemaking: How Broker Transparency Enforcement Will Affect Truckers
The ongoing issue of broker transparency and the enforcement of 49 CFR 371.3 significantly impacts truckers, particularly owner-operators and small business truckers. This regulation requires brokers to maintain detailed transaction records and provide access to these records to motor carriers. However, the lack of stringent enforcement has left many truckers vulnerable to unfair practices by…
Legal Battle Over Biden’s Independent Contractor Rule Moves Forward
The ongoing legal and political battle over the Biden administration’s independent contractor rule has reached a critical juncture. The rule, which was finalized in January 2024 and took effect on March 11, 2024, aims to provide clearer guidelines for classifying workers as employees or independent contractors under the Fair Labor Standards Act (FLSA). However, it…
Market Trends Of The Week: Seasonal Patterns and Capacity Shifts in the Dry Van Sector
The dry van market has been experiencing notable trends and shifts recently, with tender rejection rates and spot market rates showcasing interesting patterns. As we delve into the latest data, it’s clear that the market is navigating through seasonal changes and external influences, reflecting both historical parallels and current dynamics. Elevated Dry Van Tender Rejection…
Multi-State Raid Shuts Down Major Cargo and Vehicle Theft Operation
In a coordinated multi-state operation, law enforcement agencies have successfully dismantled a large-scale cargo and vehicle theft ring, resulting in the arrest of 51 individuals. This operation, conducted by the California Highway Patrol (CHP) and other law enforcement agencies, marks a significant victory against organized theft groups (OTGs) that have been responsible for substantial economic…
Post-Fourth of July Freight Market Trends: A Cooling Spot Market and Shifting Tender Rejection Rates
As the freight market emerges from the Fourth of July weekend, notable shifts in spot market rates and tender rejection rates across various freight types have surfaced. This blog post dives into the latest trends and insights drawn from SONAR tickers to provide a comprehensive view of the current freight landscape. Cooling Spot Market Following…
Tender Rejection Rates by Mileage Band Soar Ahead of July Fourth
As the Fourth of July holiday approaches, the freight market is experiencing significant disruptions. Outbound tender rejection rates, a critical indicator of carrier availability, have surged across most mileage bands, impacting the logistics landscape. Key Insights: Tender Rejection Rates by Mileage Band: Midhaul Loads (251-450 miles): 8.38% Tweener Loads (451-800 miles): 8.53% Longhaul Loads (Over…
The Rising Tide of Nuclear Verdicts: Implications for the Trucking Industry
The trucking industry has been grappling with the increasing frequency and magnitude of nuclear verdicts, which are jury awards exceeding $10 million. These verdicts not only pose significant financial risks but also highlight systemic issues within the industry and the legal landscape. Recent high-profile cases against Werner Enterprises, Schneider National, and CH Robinson illustrate the…
DOT Awards $1.8B for Freight Projects and Other Transportation Work
The U.S. Department of Transportation (DOT) has made a substantial investment in the nation’s infrastructure, awarding $1.8 billion for various freight projects and other essential transportation work. This funding aims to enhance the efficiency and safety of freight movement across the country, benefiting the trucking industry and the wider economy. Key Allocations and Projects Several…
Get Ready for CVSA’s Operation Safe Driver Week 2024: What Truck Drivers Need to Know
From July 7 to 13, 2024, the Commercial Vehicle Safety Alliance (CVSA) will conduct its annual Operation Safe Driver Week across the U.S., Mexico, and Canada. This initiative aims to enhance road safety by focusing on reducing unsafe driving behaviors through a combination of enforcement and education. Focus Areas for 2024 This year’s Operation Safe…
House Approves $200 Million for Truck Parking: A Game Changer for Drivers
In a significant move to address the chronic shortage of truck parking spaces, the U.S. House of Representatives has approved $200 million in funding aimed at expanding truck parking facilities across the nation. This allocation is part of the broader Bipartisan Infrastructure Law, which seeks to enhance infrastructure and safety for the trucking industry. Why…
Combatting Cargo Theft: New Bill Introduced to Protect Truckers and the Supply Chain
Cargo theft is a growing problem in the U.S., with losses amounting to $15 billion to $30 billion annually. Recently, California Congressman David G. Valadao introduced the Safeguarding our Supply Chains Act to address this issue. This bill aims to stop rampant theft in supply chains by enhancing law enforcement collaboration, tracking theft trends, and…
Predatory Towing Practices: A Trucker’s Nightmare
Truck owners have a lot to handle on the road, from ensuring timely deliveries to maintaining their rigs. One issue that often catches truckers off guard is predatory towing. This practice, characterized by unscrupulous tactics and exorbitant fees, has become a significant concern within the trucking community. What is Predatory Towing? Predatory towing refers to…
Shifting Freight Markets: Will the Summer Surge Last?
As we head into the busy summer season, truckers across the U.S. are facing a dynamic and shifting freight landscape. Recent data and market analysis highlight several critical trends that could impact your business operations and decision-making. Here’s what you need to know. Texas Gulf Coast Ports: A Surge in Freight Movements In May, Texas…
The Reopening of the Fort McHenry Channel: A Major Milestone for the Port of Baltimore
After more than two months of extensive salvage and restoration efforts, the Fort McHenry Federal Channel in Baltimore has fully reopened, marking a significant milestone for one of the busiest ports in the United States. This reopening is a pivotal development for the Port of Baltimore, which faced severe disruptions following the catastrophic collapse of…
The Legal and Ethical Implications of Double Brokering in the Freight Industry
In the intricate world of freight logistics, double brokering has emerged as a significant problem, raising questions about legality and ethical conduct. This deceptive practice, often cloaked in the guise of legitimate operations, can cause substantial financial and operational disruptions within the industry. What is Double Brokering? Double brokering occurs when a broker books a…
Navigating Freight Carrier Concerns in Today’s Market
In the ever-evolving landscape of the freight industry, carriers are facing a multitude of challenges that are reshaping the way they operate. From economic pressures to technological advancements, understanding these concerns is crucial for anyone involved in the logistics and transportation sectors. Let’s delve into the current issues that freight carriers are grappling with and…
OOIDA Sues EPA Over Zero-Carbon Regulation: What It Means for Truck Drivers
The Owner-Operator Independent Drivers Association (OOIDA) recently made headlines by filing a lawsuit against the Environmental Protection Agency (EPA). This legal battle is rooted in the EPA’s new zero-carbon regulation, aimed at drastically reducing emissions from the trucking industry. But what does this mean for truck drivers? Let’s break it down. Understanding the EPA’s Zero-Carbon…
Benchmark Diesel Price Plummets for Eighth Consecutive Week Amid OPEC+ Moves
Consistent Decline in Diesel Prices The benchmark diesel price has fallen for the eighth straight week, now at $3.726 per gallon, a total drop of 33.5 cents. This steady decline aligns with the sharp drop in diesel futures, currently at their lowest since May 2023. The decrease is largely attributed to OPEC+’s decision to ease…
Summer Shipping Surge and Market Recovery: What’s Driving the Truckload Market?
The truckload market is witnessing a significant uplift this summer due to several key factors. Seasonal shipping demands, such as the produce season and major retail events like Prime Day, are driving increased activity. Additionally, heightened container costs, impacted by geopolitical disruptions and environmental challenges like low water levels in the Panama Canal, are forcing…
Chicago Man Charged with Stealing $9.5 Million Worth of Interstate Shipments
In a shocking revelation that highlights the growing concern of freight theft, a Chicago man has been charged with stealing $9.5 million worth of interstate shipments. This case underscores the vulnerabilities in the supply chain and the need for enhanced security measures in the transportation industry. The Incident: A Brazen Heist The accused, whose identity…
The Looming Impact of Trucking Rate Disparity on Late 2024 Services
The trucking industry is facing a significant challenge as a historic rate disparity between spot and contract rates persists. This gap, currently around 30%, threatens to disrupt services later in 2024, potentially leaving many shippers without necessary truck availability. Understanding the Rate Disparity Contract Rates: Typically negotiated annually, these rates provide stability but are susceptible…
Combating Freight Fraud: New Legislative Measures and Increased Penalties
In the ever-evolving landscape of freight and logistics, fraud remains a persistent challenge, affecting carriers, brokers, and shippers alike. Recent developments in the U.S. Congress and enforcement actions highlight a renewed focus on combating this issue. This blog post will delve into two significant updates: a new bill introduced by House lawmakers aimed at curbing…
The Surge in U.S. Imports from Mexico: What It Means for Trucking Companies
The Surge in U.S. Imports from Mexico: What It Means for Trucking Companies In recent years, the volume of imports from Mexico to the United States has seen a significant uptick. This surge, driven by various economic and geopolitical factors, has profound implications for the trucking industry. As trucking company owners, understanding these trends can…
The Hidden Cost of Fraud in the Trucking Industry: Effects and Methods
Fraud in the trucking industry is an escalating issue that not only disrupts operations but also imposes significant financial burdens on truckers and companies. From double brokering to cargo theft, fraudulent activities take many forms, each with unique impacts on the industry. This blog post explores the effects of fraud on truckers and outlines some…
17 States Sue to Block California’s Advanced Clean Fleets Rule
A coalition of 17 states has filed a lawsuit to halt California’s Advanced Clean Fleets (ACF) rule, which aims for a zero-emission vehicle (ZEV) fleet by the mid-2040s. The lawsuit, filed in the U.S. District Court for the Eastern District of California, names Steven Cliff, executive officer of the California Air Resources Board (CARB), as…
The Current State of the American Trucking Industry: Insights and Trends
The American trucking industry remains a vital pillar of the nation’s economy, continually adapting to fluctuating market conditions and regulatory changes. Recently, the industry has experienced a significant shift in spot market rates, regulatory impacts, and operational challenges. Here, we delve into the latest developments that are shaping the trucking landscape. Surge in Spot Market…
Surviving The Down Market: Small Fleets in the 2024 Freight Market
The freight market in 2024 presents a challenging landscape for small fleets, with thin profit margins and increasing expenses putting carriers at risk of losses. As we delve into the numbers, it becomes clear why vigilance and strategic planning are crucial for survival in today’s trucking industry. Freight rates…
Final Reminder: CVSA Roadcheck Inspection May 14-16
Next week, the CVSA International Roadcheck will take place, targeting commercial vehicle safety across North America. This crucial safety inspection will particularly focus on alcohol and controlled substances, alongside checking that tractor-protection systems are fully functional. Preparation Checklist: Brakes: Ensure no defects, air leaks, and that all components function properly. Coupling Devices: Check for damage…
Cautious Optimism in the Trucking Industry: Insights from the Latest Bloomberg | Truckstop Survey
The trucking industry is showing signs of a cautious turnaround according to the latest Bloomberg | Truckstop survey, which indicates a mixed but improving sentiment among North American owner-operators and small fleets. The survey, which captures the pulse of carriers in the truckload spot market, noted that despite a challenging quarter, there are encouraging signs…
Navigating the New Normal: Economic Trends and Transitions as 2024 Unfolds
As we navigate the latter half of 2024, the economic outlook appears nuanced, influenced by the remnants of the COVID-19 pandemic and a series of adaptive shifts in market behavior and policy responses. Here’s an overview of potential trends that might shape the remainder of the year: Economic Growth Trends: Predictions suggest a ‘soft landing’…
Reminder: Ensure Your Compliance for the 2024 International Roadcheck
As we approach the 2024 International Roadcheck, scheduled for May 14-16, it’s crucial for the trucking industry to prepare for rigorous inspections by the Commercial Vehicle Safety Alliance (CVSA). This event emphasizes compliance with safety regulations in North America, focusing particularly on vehicle integrity and driver adherence to operating standards. Driver Compliance Focus: During the…
Bolstering Trust and Security: FMCSA’s New Initiative to Combat Registration Fraud
The Federal Motor Carrier Safety Administration (FMCSA) has launched a dedicated Registration Fraud Team to tackle the persistent issue of registration fraud within the trucking industry. This proactive move aims to assist victims and implement preventive measures to enhance the integrity of the registration system. Fraudulent activities not only undermine operational legitimacy but also lead…
Navigating Election Year Challenges: A Close-Up on Small Trucker Priorities
As the election year progresses, the cacophony of political debates often sidelines critical issues impacting small truckers. Among these are the persistent challenges of inadequate truck parking and the pressing need for accessible restroom facilities at work sites. These concerns, while vital to the well-being and efficiency of truckers, are frequently overlooked as legislative focus…
Navigating the Great Freight Recession: Insights for Truck Drivers and Company Owners
As the trucking industry endures what’s dubbed the “Great Freight Recession,” surpassing two years, truck drivers and company owners face significant challenges. This prolonged downturn, deeper than the COVID-19 bull market’s upheavals, has tested the industry’s resilience. However, recent market indicators like the Outbound Tender Rejection Index (OTRI) and Contract Load Accepted…
Gear Up for Safety: The 2024 International Roadcheck Event
As the Commercial Vehicle Safety Alliance (CVSA) prepares for its annual International Roadcheck event from May 14-16, 2024, commercial motor vehicle operators across North America should be aware of what’s in store. This crucial three-day enforcement and compliance initiative, taking place across the U.S., Canada, and Mexico, represents the largest such program globally,…
Navigating Uncharted Waters: The Impact of Rising Diesel Prices on Truckers and Fleet Owners
In recent months, the transportation and logistics sector has been navigating a challenging landscape, largely shaped by the fluctuating costs of diesel fuel. A pivotal component of this sector’s operational expenses, diesel prices have been on an upward trajectory, reflecting broader trends in the global oil markets. This blog post delves into…
Steering Towards Sustainability: The Impact of California’s Environmental Waivers on Truckers
The recent affirmation by the U.S. Court of Appeals for the District of Columbia Circuit of the Environmental Protection Agency’s (EPA) authority to grant California the autonomy to impose its own stringent environmental standards has marked a pivotal moment for the trucking industry. This decision, rooted in the lawsuit Ohio vs. EPA, not only upholds…
The Ripple Effect: How a Single Incident on I-95 Unveils Vulnerabilities in Our Economic Lifelines
A recent event on Interstate 95 (I-95) where an oversized rig collided with a rail bridge, resulting in an unexpected closure, has spotlighted the critical vulnerabilities in our nation’s infrastructure and its direct impact on the economy. This artery of commerce, one of the busiest highways in the United States, plays a…
Shifting Gears: How New EPA Emissions Standards Impact the Trucking Industry
The trucking industry stands on the brink of a major transformation, driven by the Environmental Protection Agency’s (EPA) latest move to introduce stringent emissions standards for trucks and buses. This initiative, part of a broader strategy to combat climate change, aims to significantly reduce the carbon footprint of one of the transportation…
The Tightrope Walk of Small Fleet Operators in Today’s Freight Market
In the ever-fluctuating world of freight logistics, small fleet operators find themselves in a precarious position as they navigate the rough waters of today’s market dynamics. March 2024 has unfolded with its own set of challenges, setting a complex stage where freight rates and fuel prices dance in a dangerous tango, leaving…
Navigating the Owner-Operator Contractor Classification Maze: A Legislative Perspective
In recent months, the trucking industry has found itself amidst a whirlwind of legislative changes and regulatory debates. Two recent developments have sparked significant discussion and concern among trucking professionals: the House Committee’s passage of a resolution aiming to repeal a rule instituted by the Biden Department of Labor (DOL) regarding contractors,…
Baltimore’s Key Bridge Collapse: Trucking Industry Bears Brunt of Disruption, Rebuilding Costs Loom Large
The collapse of Baltimore’s Key Bridge has unleashed a wave of disruption rippling through the nation’s transportation networks, with the trucking industry emerging as a frontline casualty of the incident. As a critical link in the supply chain, trucking companies rely heavily on efficient roadways and bridges to transport goods across the…
Class 8 Truck Sales Experience Downturn in February 2024: A Closer Look
In February 2024, the U.S. Class 8 truck market saw a significant downturn, with sales plummeting 12.5% to 17,619 units, marking a notable departure from the sales figures of the same month in the previous year. This downturn extends a challenging trend into its seventh month, emphasizing the ongoing hurdles faced by…
Revolutionizing Roadways: The MOVE Act and Its Impact on Truck Weight Limits
In an era where supply chain resilience has become a focal point of national interest, the introduction of the Modernizing Oversize Vehicle Exemptions (MOVE) Act signals a pivotal shift in federal transportation policy. Spearheaded by U.S. Representatives Dusty Johnson and Jim Costa, this bipartisan initiative seeks to empower states with greater autonomy to manage truck…
Navigating the Road Ahead: Understanding Hours of Service Regulations for Truck Drivers
The world of commercial trucking is the backbone of the American economy, ensuring that goods and services reach their destinations across the nation. However, the safety of these operations is paramount, not only for the drivers themselves but also for other road users. Central to this safety initiative are the Hours of Service (HOS) regulations,…
Navigating the Highway to Success: Hiring a Class A Commercial Truck Driver in America
The transportation industry is the backbone of the American economy, and Class A commercial truck drivers are the vital links that keep this system running smoothly. Hiring a qualified driver is not just about filling a vacancy; it’s about ensuring the safety, reliability, and efficiency of your operations. However, the road to finding the right…
Steering Clear of Scams: Protecting the American Trucking Industry
In an age where technology intersects every facet of life, the American trucking industry is not immune to the pervasive threat of scams. These fraudulent activities not only pose significant financial risks but also jeopardize the security and trust within the sector. As the backbone of the U.S. economy, ensuring the safety and integrity of…
On the Move: Staying Active for Truck Drivers
In the vast expanse of highways crisscrossing the landscape, truck drivers play a pivotal role in keeping the wheels of commerce turning. However, the very nature of their job, which often demands up to 14 hours of sitting behind the wheel each day, poses significant health challenges. The sedentary lifestyle that comes with truck driving…
Navigating the Highway to Health: Ready-to-Eat Options for Truck Drivers
The life of a truck driver involves long hours on the road, leading to unique challenges in maintaining a healthy lifestyle. Traditional truck stop fare is often convenient and satisfying, offering the comfort of hot meals and quick snacks. However, this convenience can come at a cost to health, as many options are high in…
The Convoy Closure: A Wake-Up Call for Digital Freight Brokerages
The recent shutdown of Convoy, a once-celebrated digital freight brokerage, has sent ripples through the trucking and logistics industry, marking a significant moment of reflection for the adoption of “Book It Now” technologies and digital brokerage models. This event, characterized by a combination of a freight recession and a shift in capital market dynamics, sheds…
Navigating the Uncharted Waters: The Recent Network Outage and Its Future Implications for the Trucking Industry
The recent AT&T network outage, which also impacted Verizon and T-Mobile users, has sent ripples through the transportation industry, underscoring the critical reliance on digital connectivity. This incident not only disrupted day-to-day operations but also highlighted potential vulnerabilities within the technological infrastructure of the trucking sector. The Immediate Aftermath and Hypothetical Future Scenarios The outage…
Maximizing Performance and Longevity: The Essential Guide to Oil Maintenance in Commercial Diesel Trucks
In the demanding world of commercial transportation, the reliability and efficiency of a diesel semi truck are paramount. One of the most critical yet often overlooked aspects of maintaining such high-performance machines is regular oil maintenance. Understanding the importance of oil changes, the frequency at which they should be performed, what to watch for during…
Maximizing Mileage: Essential Tire Care for Commercial Semi Trucks
In the world of commercial transportation, the integrity and performance of semi-truck tires are pivotal. Not only do they ensure the safety of the driver and cargo, but they also significantly influence the vehicle’s operational costs. Proper tire maintenance can prevent premature wear and extend tire life, saving fleets thousands of dollars annually. This blog…
Cracking Down on Fraud: How New FMCSA Regulations Are Changing the Game for Trucking Brokers
In an industry that’s as vast and vital as trucking, the role of brokers is crucial. They act as the middlemen, connecting trucking companies with clients needing to ship goods. However, this space has not been without its challenges, particularly concerning fraud. Recognizing the need for stricter oversight, the Federal Motor Carrier Safety Administration (FMCSA)…
Dispatch Decisions: Self-Dispatch vs. Using a Dispatch Service
In the trucking industry, the choice between self-dispatching and using a dispatch service is crucial for owner-operators, influencing not only day-to-day operations but also the bottom line. Both options have their advantages and challenges, impacting efficiency, profitability, and control over the business. Here, we delve into the details, comparing self-dispatch and dispatch services to aid…
Navigating the Crossroads: Lease or Own Authority for Owner-Operators
As an owner-operator in the trucking industry, deciding between leasing with a carrier or obtaining your own authority is a pivotal choice that shapes your career, financial prospects, and operational freedom. This decision hinges on several factors, including personal preferences, financial readiness, and long-term goals. Below, we explore the nuances of each option, providing insights…
New Jersey Shakes Up Trucking Insurance: What You Need to Know
Imagine you’re running a trucking company. You’ve got big trucks rumbling across the country, carrying everything from apples to zebra-print couches. Running these trucks isn’t cheap, and there are three big costs you always have to deal with: fuel (because trucks are thirsty!), maintenance (because things break), and insurance (because accidents happen). Now, New Jersey…
The Trucker Union Launches BrokerDex
In an exciting development for the trucking industry, The Trucker Union is proud to announce the launch of BrokerDex, an innovative directory designed to empower carriers like never before. In a landscape where brokers have traditionally held the reins, monitoring carriers with a variety of tools and metrics, we believe it’s time to level the…