Finance

The ELD compliance rate continues to inch up among fleets according to the latest survey conducted by CarrierLists.

Cashflow Corner presented by TriumphPayDetention of drivers remains a significant problem in the industry, with few solutions in sight, although ELDs may be able to help smaller fleets and owner-operators enforce detention policies.

Signs are pointing to a new reality: self-driving trucks will help the industry. And the people who keep it running will continue to show us why they’re such an important part of the supply chain.

Unilever has pulled back the veil of secrecy on its palm oil supply chain hoping that greater transparency into the process can create greater efficiencies.

The U.S. and South Korea are kicking off a renegotiation of their 2012 free trade agreement.

The Port of Dover has been honored with one of the UK’s highest awards for its congestion mitigation efforts.

Apollo Global Management is reportedly planning to take its subsidiary CEVA Logistics public by April.

A number of companies have found new life – and revenue – simply by changing their name to include the word blockchain.

Current financial news headlines are full of stories about inflation and the resurgence of inflation in the U.S. economy.  

Drivers aren’t robots and one size doesn’t fit all, so in the absence of flexibility, wide-awake drivers attempt to sleep in rest stops on 10-hour breaks during the day, which is what makes the 14-hour clock so dangerous.

Spireon is hoping to solve trailer tracking issues for mixed fleets that require customization with its FL Flex modular trailer tracking solution.

While producer price inflation for the overall service sector has remained fairly benign, hovering between 2-2.5%, freight trucking inflation has been accelerating rapidly. After a dismal 2-year period of declining rates within the trucking industry, prices have picked up, with inflation reaching a 6-year high in January.

It seems so simple, but basic attention to detail can help prevent an unwanted interaction with law enforcement, which can lead to increased insurance premiums.

The Federal Reserve reported that total industrial production declined 0.1% in January from December’s levels, weighed down by a 1% decline in mining output in the economy.

The Owner-Operators Independent Drivers Association has joined efforts to change the current hours-of-service rules to allow drivers to stop driving when they are tired.

The market’s coming up roses for trucking companies, but some company stocks are still viewed as a little high.

Retail sales showed unexpected sluggishness in both January and December, which was revised downward.

In all, 35% of Americans will purchase flowers this year, says the Society of American Florists, totaling some $2 billion in sales, and the most of them get to their destinations via the trucks.

Surfing the web and finding what truckers and others are saying about how things are out there on the road. 

Autonomous vehicles may be coming, but it doesn’t appear to be very soon.

Gerdin says timetable could speed up on the back of a strong freight market. 

The Index for Small Business Optimism jumped two points to 106.9 in January in an encouraging sign that the nation’s small and independent businesses have shrugged of some of the recent political turmoil in Washington and are looking forward to the expected boost in economic activity.

UPS is asking for inclusion of part-time drivers to make Sunday deliveries and also to allow use of personal vehicles in its latest demands in contract negotiations with the Teamsters, according to reports.

Xeneta is a freight rate benchmarking platform focusing on ocean freight. It aggregates rate data from various companies into a platform and provides market average rates, lows and highs to its customers.

Cashflow Corner presented by TriumphPay You’ve taken the leap and decided to purchase your own truck. Or maybe you run a small fleet and have a handful of trucks. In either case, the next challenge is upon you: maintaining those vehicles, because if a truck isn’t running, it isn’t making any money.

The U.S. Energy Information Agency has released its Annual Energy Outlook for 2018, with projections to 2050. The EIA calls for massive growth in oil and LNG production and exports over the next few decades, which will be a boon for the trucking industry.

After several delays, Rhode Island Department of Transportation (RIDOT) workers have begun installing truck toll gantries in the state this week. The project, which will collect truck-only tolls at 12 locations in the state, is estimated to raise about $470 million in tax revenue over 10 years.

Data is a crucial resource that enables fleet managers to streamline their internal processes and GPS technology is a key part of the equation.

As capacity tightens, there are two ways fleets and shippers can go: they can add more capacity through acquisition or equipment purchases, or they can tap into existing capacity in a different way. That way might be boosting the rental and dedicated transportation markets.

“We’ve spent much of this decade working with business partners to build out the cargo delivery platform our customers want and in 2018 we’re putting it to work,” said Port of Oakland CEO Chris Lytle

As the UK government battles congestion at the ports of Dover and Folkestone, a decision by the government to rent space at Manston Airfield in the county of Kent for 3 million pounds is coming under fire.

With so many regulations to follow, fleets and shippers probably don’t need another reason to fret, but bribery and corruption are on the rise.

XPO had strong earnings for the fourth quarter. Here’s what a pair of analysts had to say about the company.

Predictive maintenance is something that has been talked about for several years. The ability to identify when particular components might fail, or to proactively replace components before they fail based on past data trends has been referred to as the Holy Grail of vehicle maintenance.

According to a report from Tech Crunch, Elon Musk’s Tesla is preparing to test autonomous driving on a cross-country trip within 3 to 6 months.

Trucking companies face high insurance costs, and few are higher than new venture insurance for new carriers. Some steps can be taken to help lower that initial cost, though.

What exactly is going on with all these truck orders? ACT Research reported that January Class 5-8 preliminary orders came in at a surprising 80,400 units. Class 8 orders alone accounted for 48,700 units, their best month since March 2006.

Seasonality has finally hit van rates as available loads dropped 6% last week, according to DAT.

Blockchain technology has the potential to massively improve processes within the freight industry. LoadBlock, an Arizona-based start-up, is capitalizing on this shift in technology by developing blockchain-integrated systems.

With more regional and local deliveries due to e-commerce, there is more opportunity for truck drivers to find less-than-truckload freight, but knowing how it is billed is critical to winning contracts.

There are many stock analysts that have been predicting a stock market decline. The question now becomes, are we looking at a correction or something more indicative of a slowing economy?

New truck orders jumped in January, reaching their second highest level on record, according to data from FTR and ACT Research.

Transport stocks were not immune to the big sell-off on Wall Street on Monday, with the Dow Jones Transport Index falling 336.77 points to 10,350.41, a 3.15% fall on the day.

Supply chains are such a complex enterprise, that it’s nearly impossible to solve any one problem without it impacting another part of the chain. That was one of the main points that Michael Zargham, founder and CEO of BlockScience, said during a discussion last month in New York City.

Transparency18 Sponsored article An estimated 17M ocean shipping containers make approximately 200M trips globally on an annual basis. A typical international shipping container is interchanged between 8-10 parties before the […]

The Baltic Exchange is changing one of their signature indices, the Baltic Dry Index, which averages shipping rates for raw materials like coal, ores, and grains. Baltic is hoping to make the BDI a more attractive benchmark for futures investors.

The Nuro is a self-driving vehicle designed to run your errands for you. It is poised to change the way that businesses interact with their local customers.

China’s ambitious Belt and Road Initiative (BRI) is slated to head north to the Arctic, Reuters reported. Global warming has opened up new shipping lanes that China plans to exploit.

An open letter by “A thousand upset truckers” to the Northwest Seaport Alliance (NWSA) was posted on the Facebook page of PierTrucker.com/Seattle, declaring its opposition to the planned phase-out of trucks with pre-2007 engines contained in proposed House Bill 2601.

In spite of a sea change in technology, the US DOT report released Jan. 31st, says the costs of rigorous data collection and analysis would likely outweigh the benefit. Instead, they provide a lot of data from 2013-2014.

Most shippers, carriers, and students of the freight market spend most of their time focused on a particular mode. It makes intuitive sense that you would focus on the mode that you spend the most time in which you are buying services or providing services. Net result, there are plenty of experts in rail, truck, and intermodal/container freight, and with the ongoing prodigious growth of e-commerce, there is a growing number of experts in parcel freight. That said, we continue to be surprised how little attention overall is given to airfreight.

Some early adopters of the Tesla Semi are receiving another advantage – help with designing and building electric charging stations for the trucks.

It wasn’t that long ago that many analysts believed the demise of Blackberry was close at hand. They were so wrong.

Sabrewing’s battery-less, gas-electric hybrid can fly anytime, anywhere, over and around weather –- and can carry up to 3,000 lbs. of cargo up to 5,000 miles.

Warehouse development and lease prices are rising through the roof as available land dwindles, and the vacancy rate hovers at an historic low. Shippers and 3PLs who want to expand must optimize the operations of their existing facilities.

With one round of electronic logging device (ELD) madness behind, and another likely upcoming ahead of the April 1 hard enforcement date, Transflo President & CEO Frank Adelman says his company is prepared for another round of drivers rushing to get compliant devices.

Fleet Complete, a provider of global IoT provider of mission-critical fleet, asset, and mobile workforce management solutions, has expanded its European operations with the acquisition of Ecofleet, a telematics provider in the Nordic and Baltic regions of Europe.

When capacity is tight and rates are high, to get the best deals, it pays to be a Preferred Shipper. But what is that, and how do you become one?

Conditions improved slightly for shippers in November according to FTR’s Shippers Conditions Index (SCI). The SCI recorded a -8.9 for November, slightly better than October but still solidly negative, the firm said.

As seemingly simple as the rule sounds – ensure food is safe during transport – it is anything but. The FDA’s food safety regulation, says, Sam Rizzitelli, transportation practice lead for the Americas for Allianz Global Corporate & Specialty, has opened up new concerns from an insurance impact.

With all the purchasing of team apparel and snacks that takes place around the Super Bowl, it’s imperative those goods make it to retail locations on time. It takes a Big Game logistics operation to make it happen.

Knight Trucking put 20% of its capacity on the spot market in Q4 2017 and it paid off big. Swift has also been improving its operations, and management said it will focus on fixing its reefer business in 2018.

The race to self-driving and electric vehicles has focused medium and heavy-duty vehicles lately, even though many believe local and urban is the best place for electric trucks. udelv, though, is focusing on that last-mile.

After reviewing 30 site locations, Nikola Motor Co. has announced that Buckeye, AZ – just outside Phoenix – will be the location for its manufacturing headquarters.

Covenant Chairman and CEO David Parker said 2018 will bring wage hikes, rate increases, and unprecedented opportunities for team carriers due to the ELD mandate.

General Motors (GM) has positioned itself to be “the prime mass-market manufacturer of self-driving cars” according to a report by Automotive IQ.

Even trucking original equipment manufacturers are not immune to spot freight volatility. Because of that, Daimler Trucks North America (DTNA), is working to shore up its supply chain relationship with contracted freight carriers through a new digital platform.

Two-year-old startup NEXT Trucking has secured $21 million in a Series B round of financing, led by Sequoia Capital, as it seeks to stand out in a crowded field of competitors looking to match available truck capacity with freight.

Despite all this good news, an underlying problem remains for many truckers – getting paid. There are still some shippers that are dragging their feet when it comes to settling their bills, and that leaves carriers short of cash.

The American oil boom has already electrified the wider economy and increased demand for truckload miles; could it also stabilize fuel prices long term?

The burning of natural gas instead of coal offers important and immediate benefits, including reduced air and water pollution, fewer smokestack carbon emissions, less power plant water use, greater flexibility of the power grid, and renewed economic development in gas-rich regions of the country.

Transparency18 is designed to be a unique freight conference for participants. Towards that end, the two-day event will dedicate one day to live product demonstrations. Companies are encouraged to sign up to demonstrate their innovative solutions.

FedEx Corp. will accelerate pay increases for hourly employees this year as part of its response to the new tax law and expected benefits from it. The company will also make investments in facilities in Indianapolis and Memphis.

Global logistics giant DHL recently launched the Global Trade Barometer, a first of its kind solution that helps in predicting cross-border trade flows and growth in global trade based on logistics big data and artificial intelligence models.

The National Shipping Company of Saudi Arabia, better known by its local acronym Bahri, has finally received its latest carrier classified as a very large crude-oil carrier (VLCC).

Building “a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high-speed value transferring” is the business model of blockchain-as-a-service (BaaS) company VeChain. In other words, it’s seeking to stop counterfeiters.

Geneva, Switzerland-based Mediterranean Shipping Company (MSC) has officially announced its roll on-roll off (RORO) service for West African routes, the Handy Shipping Guide reports.

Online retailers and buyers alike often face the conundrum of being made to choose between fast delivery and low-cost shipping. Buyers are forced to pay extra to ensure same-day delivery of items.

The nature of the ship-management business makes it hard for the companies to pay attention to details, thus accumulating uncontrolled expenses over time, reducing profits and making the overall process inefficient.

No surprise, the e-commerce trend has entrenched itself into the lives of consumers — for better or worse — and there’s no turning back now. Another round of retailers this year has filed for bankruptcy.

It is a well-worn axiom in the investing world that “the most expensive thing on Wall Street is an ego.” It’s true in the world of investing money, but it’s true for the rest of the world as well.

According to a survey of participants on a recent FTR webinar, only 11% of the people believe the ELD impact has been severe. A full 52% say the impact has been moderate while 34% say it is minimal. Three percent don’t believe it’s had any effect.”

ATRI research identified trucking industry costs of $63.4 billion as a result of congestion on the nation’s highways. That cost generates from 996 million lost hours of industry productivity, the equivalent of 362,000 truck drivers sitting still for an entire year.

Paris-based global logistics group Gefco has confirmed its acquisition of Spanish transport logistics company GLT, the Handy Shipping Guide reports.

Call it the Internet of Things, the Sharing Economy, a result of the ELD mandate, or the emergence of blockchain-style applications, but we are witnessing a digital gold rush when it comes to developing technologies bent on improving supply chains.

The Teamsters have opened negotiations with UPS on a new contract and they have a significant request: no drones or driverless vehicles.

In what will come as little surprise to anyone who has recently renewed their commercial insurance policies, rates are going up. The bad news is that there doesn’t appear to be an immediate end in sight, according to a new report from A.B. Best.

Industry-wide ELD adoption is forging a yellow brick road for blockchain and other technological marvels.

With the ELD mandate enforcement date behind us, owners of trucking companies can now focus on the next sweeping change to impact their business; implementation of the Tax Cuts and Jobs Act that was signed into law by President Trump on Dec. 22, 2017.

At least for one week, seasonality has impacted rates, according to the latest data from DAT Solutions. Spot rates for dry vans and flatbeds fell for the week ending Jan. 20.

The “leaked” plan calls for liberalizing tolling policy and allowing states to commercialize interstate rest areas, among other things, as a means of funding infrastructure.

The infrastructure bill outline leaked yesterday provides clues to how Trump wants to incentivize $800B in state, local, and private spending: tolls on interstates, removing constraints on private activity bonds, and value capturing financing for transit projects.

Manual processes may appear cheaper at first, but studies have shown that switching to automated accounting programs for account payables and receivables saves money in the long run, even for small operations.

The compliance rate for ELDs among fleets sits at 86%, according to the latest rolling survey of 318 fleets by CarrierLists.

U.S. Chamber of Congress president, Thomas J. Donohue, is preparing for an uphill battle to push for a raise of the federal gas tax by 25 cents per gallon to help shape the debate about upgrading U.S. roads, bridges, airports and other infrastructure.

Back in November, KeepTruckin launched a petition drive asking FMCSA to provide a 2-hour exemption for long-haul drivers delayed at a shipper.

The movement of goods is booming in Latin America (LATAM) and it is resulting in a significant rise in the number of commercial vehicles being sold in the region.

Fiat Chrysler Automobiles (FCA) has confirmed its plan to move its truck-making arm from Saltillo, Mexico, to Detroit, MI, the Chicago Tribune reports.

Chad Boblett has built not just a successful Facebook group, but also the largest professional online forum in the U.S. on rates and logistics in the freight industry

Outbound rates from the Great Lakes have held steady at the high prices reached during last September’s nationwide spike, but over the past 7 days, they’re trending upward again.