Job growth fell well short of expectations in March, but trucking hires continued to accelerate as the industry tries to address the current capacity crunch.
Turndowns inbound and outbound of Charleston are gradually rising in tandem, indicating a healthy market. Spot rate movements will depend on where capacity is positioned once port traffic ramps up.
After strong fourth-quarter earnings results, weather and other external forces are expected to weigh on earnings reports in the first quarter, resulting in a mixed bag for public companies.
Trade war fears have caused increased volatility in stock markets over the past month. However, worries over a deep recession caused by protectionism appear overblown for now. The challenge for transportation companies will be less about a collapse in activity and more about adjusting to the new reality.
Once the Mason Mega Rail terminal is complete, the Port of Savannah will have a state-of-the-art facility, unique to the U.S. East Coast.
Truck sales, indices, stock price projections: all are looking bullish
Soybean exports to China have been levied 25% additional tariffs as China hits back with tariffs on U.S. exports worth $50 billion annually.
The number is 175,000 out several years, against a base of a half-million.
Construction spending in the economy remains essentially unchanged since the start of the year, as the sector continues to disappoint after a solid 4th quarter. This has implications for flatbed carriers and dry vans, as weakness in construction and home building affects freight demand.
China has increased tariffs by up to 25% on 128 U.S. products, in retaliation for the tariffs added by the U.S. last week. The Chinese tariffs target farm products, with the severely hit being pork exporters.
BNSF hauls more coal than any other railroad, but the future of American coal production and consumption is an open question. Is BNSF heavily exposed to downside risk or will it be the last coal carrier standing?
Data from the ISM index showed that manufacturing activity pulled back slightly in March, and responses from the survey highlight the impact that trucking shortages and tariffs are having on performance.
Wages continue to rise for America’s truckers as the trucking industry contends with driver shortages coupled with an increased demand for shipping services.
A monthly synopsis of events and results in the macroeconomy from the past month and a discussion of implications for freight markets going forward. Results released in March were generally more favorable than the previous month and suggests that freight demand should remain strong going forward.
DHL’s new Global Trade Barometer showed improvement in March, indicating that global trade volumes are likely to gain momentum in the near future
The number of oil rigs and the demand for flatbed trucking are rising in tandem, as WTI prices go up and the Brent-WTI spread widens.
Profit Tools has developed an Optimization Platform which uses artificial intelligence (AI) and intermodal data points to deliver breakthrough performance and visibility.
The trade deficit in goods widened for the sixth consecutive month in February. Total goods trade volume was up however, which bodes well for transportation and freight markets
FreightWaves adds stock tickers for publicly traded stocks in the freight space
What happens with increased turndowns in this context is that carriers don’t want to go inbound into a place—in this case, Philadelphia—as they assess the cost of outbound.
Regional manufacturing data from the Dallas and Richmond Fed suggests that manufacturing activity has cooled in March as the impact of tariffs has affected output
The threat of retaliatory tariffs on American agricultural products could hurt wheat exports, which are already struggling to compete on the international market. Railroad grains volumes in 2018 YTD are down, in many cases by double digits.
This week we are using the Cass Information Systems data to review what is happening in the economy overall.
Factory orders for durable goods bounced back after a large decline in the previous month. Gains during the month were broad based in a sign that freight demand should be solid in upcoming months
New 12 month price targets for FedEx stock range from $260-$310, representing 20% of the company’s value and reflecting uncertainty about how the parcel carrier will improve margins and find synergies with TNT.
The US appears set to impose significant tariffs on China, raising the threat that the economy may find itself in a full-fledged trade war
The ATA’s truck tonnage index fell 2.6% in February, and evidence from rail traffic data suggests that shippers are shifting modes for some freight
Container traffic into the Port of Seattle is down 22.6% YTD, starving the city of freight. Trucking spot rates have cratered, and turndowns have dropped 75% since their peak in October as carriers are forced to accept lower prices.
Zurich-based tech company Nexiot and German firm VTG Aktiengesellshaft hope to improve the way VTG’s 80,000 railcars assets are tracked by applying blockchain technology.
The Fed is expected to raise rates again this week. This move has been communicated for several months, but what the Fed says about future increases could have significant implications for freight markets and carriers
There are many services that shippers can outsource, including warehouse operations, and doing so can provide added value to the shipper through expertise that 3PLs can provide.
Arrive Logistics will host a webinar on March 29 with use case examples and tips on how shippers can reduce their shipping costs.
Cashflow Corner presented by TriumphPay …Nexus is when a trucking company owes taxes in multiple states, but many companies are not aware of when this happens because of confusing state laws.
Shippers that work closer with carriers and treat drivers with respect can see lower transportation costs as a result.
Crete Carrier had a 400% increase in load turndowns in February and that is just one of the metrics that indicates the current conditions of the freight market.
Amsterdam-based TMA Logistics has officially unveiled its investment in the New Silk Road Initiative.
Orders for new Class 8 trucks are surging, but used truck prices and workforce growth are weak, suggesting that overall trucking capacity is staying flat.
Atlanta-based supply chain consultancy firm Chainalytics and UK-based ocean shipping consulting firm Drewry Supply Chain Advisors have officially formed a partnership through a joint venture, The Ocean Buying Group.
Inventories picked up in January, but low inventory/sales ratios mean that carriers with remain under pressure to hit tight deadlines.
Britain’s pending withdrawal from the European Union spells traffic doom for Calais, according to the Calais port’s boss, Jean Marc Puissesseau.
Job openings reached a record high in the January JOLTS data. Results were especially pronounced in the transportation and warehousing sector, where openings surged and hiring failed to keep pace
If you want to make a million dollars, all it takes is a little hard work and creating something that has value.
Manufacturing industrial production surged in February, but housing starts slipped in a mixed day for freight demand
For months, West Coast spot rates have been softening, allowing brokers to take big margins and shippers to move freight inexpensively, with short lead times. That’s about to change.
An optimistic Q1 guidance document released by Covenant Transport yesterday caused the carrier’s stock to jump 5% this morning. We explain how the team fleet is exploiting the new ELD environment.
Being an owner-operator or small fleet owner requires more know-how than just driving a truck. Kevin Rutherford explains.
When a 3PL is involved in moving goods, there are a number of liability areas where that 3PL could be held responsible, from the actions of the carrier to condition of the goods.
Carriers are not the only ones benefiting from the current freight environment, so are freight brokers.
Producer price inflation remained relatively modest in February, but trucking prices grew at the fastest pace since 2011
By one measure, the flatbed market has never been stronger.
Strong sales of new trucks is expected to keep used truck supplies rising.
The NFIB Small Business Optimism index jumped near its all-time high in February, and details of the report suggest that this optimism is beginning to translate to economic activity
Waymo announced late on Friday that its self-driving trucks will begin delivering goods for Google’s logistics operation in Atlanta.
Morgan Stanley says that shippers with low gross margins, bulky merchandise, and relatively low cost of goods sold who outsource their transportation needs are at the mercy of rising freight costs and will face EPS headwinds in 2018.
While driver pay has been inching up, something else has been increasing: guaranteed pay programs.
The current level of freight strength would be notable if it were June, September, or October, but it’s not. It’s February data. It is impossible to predict exactly how long this will last, but at least through 2018 we expect capacity to remain tight.
Rep. Sam Graves (R-MO) is pushing a vehicle miles tax in Washington as the solution to funding road and infrastructure improvements rather than raising fuel taxes.
The economy added over 300,000 jobs in February, and trucking hires improved for the fourth consecutive month
The global freight logistics industry is in the middle of a transition driven by a confluence of factors ranging from urbanization to the rise of e-commerce, and from automation to intermodal platforms.
Presented by Reliance Partners …For truly safe trucking companies, chameleon carriers are a problem. But it is one that data is helping solve.
The trade deficit widened in January, and the prospects of a trade war have clouded the outlook for transportation both in and out of the country
Vehicle uptime has been an area that truck manufacturers have applied increased focus on in recent years, and that is no exception with Navistar.
Mack Trucks is hoping its Mack Over The Air remote software update program brings as much success to customers going forward as it has for early adopters.
Industry experts detail what’s coming and how we need to get on board the “last mile” technology train.
After seven weeks of decline–considered normal for the season–national van rates stop sliding.
Total factory orders declined in January, in a sign that surging demand for freight carriers may ease slightly in upcoming months.
“By defining what excellence is, you can share in its success,” said Carlton Rose, UPS’ president of global fleet maintenance & engineering.
The Starship is a futuristic-looking, but completely road legal, Class 8 tractor-trailer unit built through a collaboration between Shell and AirFlow Truck Company.
Declaring that trucking needed, and would have, a seat at the table, American Trucking Associations’ President Chris Spear fired up the crowd at the official opening of TMC 2018 on Monday night in Atlanta.
UAE’s state-run enterprise, DP World, gained a new partner in the government of Ethiopia as the port developer and the Somaliland Port Authority reached a deal to develop Berbera Corridor.
iCanDeliver is hoping to capture European market share with its digital freight platform.
Fuel taxes disproportinately hurt independent truckers because they are not able to recoup fuel-expenses.
Stock is down across the beer industry. The tariff costs to the industry will ultimately cost consumers.
Even with lower levels of automation, trucks could essentially work around the clock, but what will regulators do about the ELD hours-of-service rule?
Lumber prices are above $500 due to a convergence of high demand and tight supply. Eventually housing starts could be affected by rising material costs.
As the Trump administration makes public its intent to look at using tariffs to address what it believes are inequities in global trade markets, it set the stock market into a tailspin for good reason. We decided to lay out a basic primer and history lesson on tariffs.
AT&T has expanded its fleet management portfolio to now include Geotab’s fleet tracking platform as part of the company’s Internet of Things (IoT) solutions.
Trump recently announced plans to implement tariffs on steel and aluminum imports beginning next week. This move should help bolster the US domestic steel industry, but comes with many unintentional consequences affecting transportation and the economy overall
Coal, steel, and the railroads that carry those commodities saw stock gains; auto companies and aluminum-intensive manufacturer stocks slipped on the news.
The merged companies could mean the transformation of the way we consume soda, as well as the consolidation of shipping and shelf space. The product can also bypass retail stores entirely and ship directly to consumers.
Data from the Institute of Supply Management shows that manufacturing activity remains robust in the economy, which has historically meant strong demand for trucking
Daimler Trucks North America has appointed Sanjiv Khurana general manager of trucks connectivity to support its connected trucks initiatives.
Insurance & Risk Management presented by Reliance Partners … U.S. companies moving freight across the border need additional insurance to cover their Mexican drivers, even if it is only within the border zone
Seeking to provide a more comprehensive solution for fleets, Omnitracs has unveiled its Unified Fleet Management platform Omnitracs One.
Durable goods orders fell in January, indicating that demand may be losing some steam after running hot over the past several months.
Used Class 8 truck prices increased 2% year-over-year in January, but fell 3% over December 2017, according to latest data from ACT Research.
Home sales have fallen over the past couple of months, as poor weather and tax law changes have likely postponed some activity. Fundamentals remain strong for housing however, and sales should continue to improve going forward.
Geely, owner of Volvo Cars, has acquired a stake in Daimler AG and it has upset AB Volvo, which has decided not to put Volvo Cars’ chief executive up for re-election to its board.
Have ELD’s worsen the truck parking problem? Perhaps, but the real problem remains where spots are located and letting drivers know those locations.
Dubai Ports World will build new inland ports in two Indian states to handle increased container traffic coming into that nation’s ports.
Wales First Minister Carwyn Jones was in Dublin, Ireland, last week due to “serious concerns” brought about by the possibility of a hard Brexit exit and its impact on trade.
Container Terminal Services has secured a contract to expand the Porto Umm Qasr in Iraq to handle more container volume.
Crytpcorurrencies got three mentions in Bank of America’s 10-K. Is that a big deal?
Persistance is important in reaching any deal, but delivering on what you promise is equally important.
UPS is planning to add 50 plug-in electric vehicles from Workhorse this year for testing with plans to add more units in 2019.
A weak-to-flat market for used trucks is causing Ryder some headaches.
It is a curse to have everything go right on your first attempt.
During the infamous polar vortex winter of 2014, as temperatures plummeted across North America and even trains came to a halt, a transportation engineer inside AB InBev’s St Louis headquarters reached out to a company that appeared uniquely suited to solve its frozen beer problem. Riskpulse answered the call.
President Trump again has Amazon in his cross hairs, but forcing online retailers to charge state sales tax will likely hurt small businesses the most.
Truckers Against Trafficking has launched the Man to Man Campaign in an effort to eliminate human trafficking in the transportation industry.
