The Federal Reserve voted to increase its key interest rate today, upping the rate 0.25% to a target of 1% to 1.5%. The increase, while small, could have a profound impact on trucking companies, shippers and consumers.
President Donald Trump’s apprenticeship program may provide an avenue to solving the truck driver shortage issue. But to make it work, it will require a little give on the government’s part.
In Pakistan, drivers care so much for their trucks that they turn them into works of art. Also, NATSO opposes rest stop privatization plan, working with robots and the path to better trade deals.
The lifeblood for many small trucking companies and independent truckers is the load board. There is no shortage of load boards, and differentiating between them can be difficult. For truckers who handle bulk products, though, finding loads on a generic load board can be time consuming. That’s what Bulkloads.com is trying to change.
A group of more than 250 House lawmakers are pushing for any tax reform package to include a permanent fix to the Highway Trust Fund. Also, Trump pushes apprenticeships, Britain’s Brexit problem and manufacturing hitting record levels.
Claiming the upcoming ELD mandate violated the 4th Amendment, OOIDA had asked the Supreme Court to hear the case. The Court has declined to do so, allowing the rule to go into effect in December.
In its latest State of the Freight webinar last week, FTR experts laid out their expectations and timelines for freight disruption, and as expected, sections were devoted to NAFTA and autonomous trucks.
The nation is about to heat up starting this weekend, and that could drive more volatility to already rising spot rates for agricultural haulers and shippers.
Do you have money to invest? If so, Martin Tillier has some advice: the time may be right to invest in trucking and logistics company stocks. Tillier notes that money spent on infrastructure will improve the fortunes of an industry that counts infrastructure as a critical piece to getting its job done.
Commonly considered a driver protection rule, the federal coercion rule institutes large fines for companies that pressure drivers to drive in violation of federal regulations, including hours of service. But is it working?
On Tuesday, during the company’s shareholder meeting, Tesla founder Elon Musk updated investors on a number of initiatives and pushed back against critics of the Tesla Semi electric truck. Also, when is a fuel tax on a fuel tax, and inside the supply chain’s tech revolution.
The battle between Amazon and Walmart took another turn when Amazon announced it would begin offering discounted Prime memberships to those on U.S. government assistance. That could pull shoppers, and freight, from Walmart.
Since 2010 EPA emissions regulations went into effect, it has been said that in some areas of the country, the emissions released by heavy-duty trucks are actually cleaner than the air they are emitted into. But a new study by researchers at UC-Riverside calls that into question.
Many larger carriers already require their drivers to use ELDs, but for smaller carriers that make up the majority of the industry, the implementation of ELDs and their associated cost could be a game-changer. This infographic highlights some of the key facts around ELDs, their impact on operations, and potential solutions to mitigate those impacts.
The Federal Motor Carrier Safety Administration (FMCSA) has proposed a pilot program on truck driver split-sleeper berth time and hot it affects driver safety performance and fatigue. Also, a new driver training rule has gone into effect and how do you value truck manufacturers?
If past Roadcheck trends hold true, shippers moving flatbed loads will face higher rates because of this year’s inspection blitz. But they won’t be the only ones impacted by the Commercial Vehicle Safety Alliance’s annual safety campaign, which begins today and runs through June 8.
When capacity is tight, spot market rates increase, and that hurts brokers. There are other factors that affect rates, of course, but 3PLs have had few options to manage the underlying fundamentals that so negatively hurt their businesses. That is about to change.
After months of talking about his $1 trillion infrastructure improvement plan, President Donald Trump is finally set to unveil more details on the proposal today. Also, transportation’s best CEOs and there were fewer trucking jobs in May.
President Trump’s decision to pull the U.S. out of the Paris Climate Accord could have a profound effect on global efforts to reduce greenhouse gases, but will probably have little impact on the U.S. trucking industry.
Walmart is testing a program where store associates will deliver online purchases, which could have a major impact on package delivery companies. Also, Waymo is testing a self-driving truck and monthly freight index climbs.
A petition has been filed asking EPA to reconsider its Phase 2 GHG rules based on a procedural step that may have been missed. Also, spot rates climb and cargo theft remains a top concern.
Headlines are declaring the death of the truck driver at the hands of the autonomous truck. But what if that doesn’t happen? Looking deeper into reports of job losses finds that significant impacts are likely 20 years away – if at all.
J.B. Hunt is investing $2.75 million in the University of Arkansas for creation of the J.B. Hunt Innovation Center of Excellence. The center will allow students to work with J.B. Hunt employees to solve real-word supply-chain problems. Also, tips on surviving a ransomware attack, consumer spending rises, and if there are so many jobs available, where are the workers?
In 2015, the trucking industry experienced over 996 million hours of delay because of congestion, which is equivalent to 362,243 commercial truck drivers sitting idle for an entire working year, at a cost of $63.4 billion. Here are some more facts about congestion.
McKinsey & Company has recently issued a report on potential impacts to the trucking and rail freight industries in the U.S., Canada and Mexico. The report, “Four forces to watch in trucking and rail freight,” identifies critical structural issues that executives must pay attention to in the immediate future.
The improvements in 3D printing technology has boosted the hopes that one day supply chains will become shorter as products are printer on-demand in close proximity to end users. Deutsche Post DHL Group and IT logistics provider Axit recently showcased how replacement parts could be produced and shipped in the same day.
A federal judge who found UPS guilty back in March of illegally shipping cigarettes on Thursday ordered the package delivery giant to pay $247 million in damages and penalties to New York state and New York City.
The news out of the Middle East on Thursday that OPEC would continue recent production cuts in an effort to boost oil prices may have upset some oil traders, but it shouldn’t have much effect on diesel fuel prices at the pumps, according to experts.
A Chinese e-commerce company wants to make deliveries weighing as much as 1 ton with drones. JD.com is already delivering smaller packages in rural villages. Also in the news, FMCSA officials will be meeting to discuss regulatory relief for the industry and GM is facing allegations it used defeat devices to bypass diesel emissions regs on its pickups.
If it seems that freight brokerage – both digital and traditional services – are popping up on a daily basis, it could be because they are, or it at least it seems that way. Digital freight matchers (DFMs) include familiar names such as Convoy, CargoMatic, Haulfox and HaulHound. But what if you want to enter the space? Here are some tips on how to be successful as a DFM.
Flatbed hauler Daseke has decided to put some stock in its employees – literally. The publicly held company announced it will set aside 1 million shares of common stock with a current value of $9.9 million for employees. Also, a list of the world’s largest transportation companies and news on a lawsuit involving Swift.
President Donald Trump’s budget proposal released Wednesday calls for a loosening of restrictions on tolls, more private investment in infrastructure, cuts a critical loan program used by manufacturers to build fuel-efficient vehicles, and reduces workforce training grants that are used to train truck drivers and other transportation workers.
While FMCSA’s electronic logging device (ELD) rule seems like a done deal, the Owner-Operator Independent Drivers Association (OOIDA) has not thrown in the towel quite yet. Also, Republicans continue pushing for border adjustment tax, tonnage falls, and a new approach to truck safety.
Since its founding, LinkeDrive has become synonymous with driver performance coaching. Its PedalCoach product has helped thousands of drivers achieve higher fuel efficiency and boost safety performance. It turns out, though, that the data it is generating has a lot more potential.
The Federal Motor Carrier Safety Administration is again delaying a rule that many in the industry asked for – entry-level driver training. Also, a look at what life is like on the road for drivers, battery technology could extend vehicle range and UPS to add peak seasonal volume charges.
With the summer months quickly approaching and bringing with them, many hope, more home building and construction jobs, flatbed haulers are hoping to continue the momentum they have built early in 2017.
“If you look back at the DAT truck data, which is essentially the NASDAQ of truck freight brokerage, you would know ahead of time,” Donald Broughton told CNBC, explaining why the firm’s data is a good indicator of economic trends.
The cost of traffic congestion each year to the transportation industry is staggering. In 2015, the industry experienced over 996 million hours of delay because of congestion. ATRI determined the cost to be $63.4 billion, or $63.70 operational cost per hour for trucking. But going inside the numbers tells an even deeper tale of the cost to society.
The recent surge in U.S. oil drilling has helped keep gas and diesel prices depressed, despite oil production cuts by OPEC. This infographic provides a quick glimpse of what is happening in the sector.
The Northeast has exited a period of cloudy, rainy weather that has held down freight volumes into and out of the region. That is just one of the weather-related stories this week that have affected rates across the nation.
The expansion of fuel cell trucks is continuing, with an announcement from Ballard Power Systems that its 85-kilowatt fuel cell engine will power a Class 8 Kenworth drayage truck at the ports of Los Angeles and Long Beach. Also, Uber Freight launches, a fuel tax hike is still on the table and Amazon pushes furniture.
Any trucker knows the importance of directions. Have the right ones, and there is a good chance you can arrive on time. But incorrect directions, and not only will you be delayed, but your employer may be out money for that late arrival. A new app is hoping to change that.
Volvo Group is testing a self-driving refuse truck. The truck allows a driver to walk behind the vehicle collecting refuse container. Also, it may be easier to test truck drivers for sleep apnea following a court ruling and the prospects for industry growth are perking up.
“If the thesis is that all of these small carriers who’ve been running illegally will be put out of business were they to comply with this mandate, there is no incentive for them to comply.” That is part of the reasoning that Stifel analysts have used to suggest the ELD mandate will not drive up shipping rates.
Good morning. Hope the roads are clear where you are today. As it turns out, that is not often the case for many of us. The American Transportation Research Institute reported that congestion on U.S. roadways cost the trucking industry $63.4 billion in 2015 and resulted in 996 million hours of lost productivity, which is equal to 362,243 truck drivers sitting idle for an entire year.
A boom in U.S. oil production is not only helping keep fuel prices low, but it is driving more trucking business. The addition of a 2-rig, 8-well design could drive between “5,850 to 8,905 truckloads of equipment, drilling fluids, sand, water, etc.”
FedEx said it was victimized by the massive cyber attack on Friday that hit businesses in an estimated 100 countries. Also, more venture capital money is flowing into trucking and 3-D printers may be altering the movement of freight in the near future.
This Week in Trucking, the U.S. and China have announced a trade deal centering on natural gas, financial services and beef. Also, a renewed push is on to approve hair testing in driver drug screenings and the rapid rise in last-mile delivery services is leading to plenty of new entries to the market.
While in-store sales have been declining in recent years, retail sales as a whole have not due to growth in e-commerce. That is resulting in a shift in freight movement, with more heading to a growing number of distribution centers and less heading to brick-and-mortar stores.
There has been a narrative in the U.S. that retail is dying a quick death. The reality is that is just not true. So far in 2017, there have been nearly as many store openings announced as store closings. This FreightWaves infographic details some of the trends in retail and how trucking is responding.
A Court of Appeals has granted a 90-day delay requested by EPA and NHTSA in a lawsuit brought by the Truck Trailer Manufacturer’s Association over the government’s Phase 2 Greenhouse Gas regulations. EPA requested the delay in part so that it can review the rule, throwing some uncertainty into implementation of the rule.
In a connected society, the transparency of items moving through the supply chain is a critical component of shipping best practices. From manufacturer, to trucking company, to end customer, the tracking of goods ensures timely delivery and top customer service ratings. OmniTrails is poised to lead to next revolution in this arena with its micro-location tracking solutions.
They say farm to fork, but without trucks, the farm never makes it to the stores, much less the fork. And that’s why ag haulers are so in tune with their shipping partners. When farmers suffer from crop delays for any reason – trucking is affected.
Ready or not, truck platooning is inching closer to reality. And it offers a real chance at fuel savings. Research suggests that trucks running in platoons can save between 4% and 10% in fuel depending on their position in the platoon. Read more about how Peloton is moving the industry closer to vehicle platoons: Peloton set to debut truck platoons later this year.
This Week in Trucking, Elon Musk adds some details to his electric Tesla Semi program; the U.S. trade gap with Mexico is growing larger and Amazon faces a carrier lawsuit for refusing to pay shipping fees.
The Republican health care bill has received both criticism and applause from a divided nation. But what does it do for trucking? Well, like the rest of the nation, that may depend on what side of the industry you are on.
To show off its Project Portal prototype hydrogen fuel cell Class 8 tractor, Toyota recorded the vehicle in a drag race against a similarly equipped diesel-powered tractor.
UPS has announced an expansion of its large alternative vehicle fleet with the addition of hydrogen fuel cell delivery trucks. The vehicles will be in operation in California later this year.
To highlight the impact weather can have on trucking, and to highlight their new partnership, TransFX, which is seeking to offer trucking freight futures contracts, and Riskpulse, a supply chain risk analytics firm, have produced an infographic that provides a few surprising facts about weather-related delays.
Unlike autonomous vehicles, a driver remains in ultimate control of a truck while in platoon formation. Because of this, it is likely that two-truck platooning will be available to fleets later this year.
Tesla CEO Elon Musk has been teasing audiences for months on the company’s secretive electric truck project. At a TED Conference in Vancouver, Musk posted this shadowed picture of what the truck may look like.
This Week in Trucking, the EPA has filed a court brief seeking a delay in a challenge to its greenhouse gas regulations, leading to speculation that the agency may review the upcoming Phase 2 rules. Also, the government has acknowledged it is lacking answers for regulating automated vehicles, Amazon jumps into the driverless vehicle arena and the economy is off to a slow start in 2017.
Whether you are a large or small trucking company, or even a driver, there is a lot to like about President Donald Trump’s proposed tax plan, even if many of the specifics are lacking at this point.
President Donald Trump’s decision to place softwood lumber tariffs on Canada this week might be an indication that the administration is set for a reset on the North American Free Trade Agreement (NAFTA). It is a gamble that potentially puts billions of dollars in NAFTA trade shipments at risk – much of it hauled by trucks.
Much has been written about Tesla’s electric truck project and while opinions vary on the viability of a heavy-duty electric semi, some are wondering if the truck is only a vehicle to reach a different end game for Elon Musk.
Toyota Motor North America announced its Project Portal hydrogen fuel cell powertrain this week. The engine produces 670 hp. and can pull an 80,000-lb. pound, the company said. Vehicle tests will take place at the Ports of Los Angeles and Long Beach, hauling cargo between the two sites.
This Week in Trucking, the CEO of Old Dominion Freight Line suggests boosting federal fuel taxes to pay for infrastructure improvements and Texas is the first state to require ELDs for intrastate commercial drivers. Also, Toyota unveils a hydrogen fuel cell Class 8 tractor.
For anyone in the trucking industry, there is one constant: change. Rates change. Customers change. Freight flows change. But why is there so much change? This graphic answers some of those questions.
Is the trucking industry over-regulated? Good luck finding anyone in the industry that would say no. But ask which regulations should be repealed and chances are each one will be mentioned at least once. But will repealing regulations actually make the industry safer?
Trucking fleets have been hit with a series of equipment price increases in recent years due to new government regulations, including thousands of dollars for tractors due to greenhouse gas regulations. The new electronic stability control regulation, though, may be one where the benefit far outweighs its minimal cost.
Since last summer, Elon Musk has been teasing Tesla fans with word the company is building an electric “semi truck.” What form, shape and size that truck will take is still under wraps, but at least now we have a more definitive timeframe.
This Week in Trucking, President Donald Trump’s infrastructure plan is hitting some bumps in the road; economic indicators continue to favor improving conditions for the nation’s trucking fleets and the Owner-Operator Independent Drivers Association is making a last-ditch effort to stop the upcoming ELD mandate.
A futures market will react to the underlying fundamentals of its physical market because in the end, the futures price is linked to the physical market. But, the opposite is also true. A physical market can look to a futures market for transparency and guidance on rate structure. A developing trucking freight futures market might be the answer to solving these industry issues.
The upcoming electronic logging device (ELD) rule is a great example of the type of mandated technological change coming to the trucking industry, and yet it serves as a great reminder of the importance to perform due diligence before adopting such technologies.
In a stock swap valued at $6 billion, truckload operators Knight Transportation and Swift Transportation have agreed to a merger. The new company, Knight-Swift Transportation Holdings, will have approximately 23,000 tractors, 77,000 trailers, 28,000 employees and control approximately 5% of the nation’s truckload market.
Schneider National Inc. is the first transportation provider to issues shares in an initial public offering since 2010, according to data compiled by Dealogic. But, will it be the last? The time may be ripe for more companies to dip their toes in the water.
This week in the Week in Trucking, we look at improving truck orders and optimism among carriers, why consumer GPS devices don’t work in trucking, GE’s approaching to training workers and how one carrier is finding success by offering its drivers video.
Rate volatility is something that every broker, carrier and shipper must deal with. But, sometimes knowing how shipping rates will react to an event can be a guessing game. The I-85 bridge collapse in Atlanta is a case in point.
The transportation industry is ripe with startups hoping to be the one that disrupts a $726 billion industry, but without help, most don’t last. Dynamo is a Chattanooga-based venture capital firm that specializes in the logistics space and is helping a few of these startups gain a solid foothold in transportation.
In a world which carriers want to be paid quickly for their services, brokers have long turned to factoring as an option. Technology, though, is changing the payments business, and that means quicker payments for carriers and more cash flow flexibility for brokers.
Unlike some technologies, blockchain technology is not likely to displace many workers in the trucking industry. It does promise, however, to streamline financial operations and compliance reporting to make those operations more seamless, potentially saving fleets tens of thousands of dollars.
Once a disparate group of entities, the modern supply chain is becoming more akin to a well-oiled machine thanks to technological advances. As it becomes more digitized, the business case for blockchain technology becomes more powerful.
“The potential here is phenomenal. The match between what blockchain offers and the industry pain points is incredible,” says Bridget McDermott, vice president of Blockchain Business Development for IBM. So what exactly is blockchain?
Blockchain is a relatively new term used to describe a series of distributed databases that act as a tamper-proof, verifiable ledger. As with any new technology, blockchain has its own terminology. Here is a listing of some of the most important terms and their meanings.
While most people assume that drones will someday be making home deliveries, there are other possibilities including droids and even mobile parcel lockers. Whatever method or combination of methods are chosen, though, last-mile delivery may never be the same.
In this week’s edition of The Week in Trucking, the trucking industry gets an audience with President Donald Trump, drivers may not be needed in California, are robots are set to take over warehousing and FMCSA pulls a controversial safety-focused rule.
As many drivers and small fleets worry about the impact on productivity and cost with the upcoming mandate to install electronic logging devices, one overlooked aspect is what impact ELDs will have on their insurance rates.
Since the dawn of the shipping industry, brokers, carriers and shippers have struggled with rate price swings, sometimes due to conditions outside their control, such as weather or politics. TransFX, a Chattanooga-based company located in Freight Alley, is trying to help change that by offering “freight futures contracts.”
As the next generation of the Fuller and Quinn families take on leadership roles of U.S. Xpress, data is becoming more important than ever. Eric Fuller, who succeeds his father Max as CEO, says that technology is poised to change the industry in ways never before imagined.
Each week, the industry sees the introduction of new technologies and regulations along with information that affects how each carrier, shipper, and 3PL operates. Each Friday, FreightWaves will provide a look back at some of the industry’s top stories you may have missed.
With truck driver turnover approaching and even surpassing 100% at times, costing carriers thousands of dollars to replace them, many fleets are doing what they can to keep their current drivers. This includes increasing pay and benefits, but one company thinks it has a better way and it starts with communication.
Amazingly, there’s one area of the country where more than 80% of the nation’s freight travels through on its way to its final destination. It’s not Chicago, New York or Dallas. It’s not even in the center of the U.S. Meet Freight Alley.
Weather disruptions such as Winter Storm Stella that is dumping up to 2 feet of snow on the Northeast today can have a ripple effect throughout the supply chain, driving up rates as freight pickups and deliveries are delayed and cancelled.
A University of Michigan study found that only 9.7% of those surveyed said they have no concerns about fully autonomous vehicles. But what about driving alongside an 80,000-lb. autonomous big rig? These are already being tested on roads and could be operational within five years. Is the industry ready for the disruption autonomous trucks will cause?
While much attention has been paid to autonomous trucks recently thanks to startup companies such as Otto, Embark and Startsky Robotics, many forget that the first company to test an autonomous vehicle in highways was truck manufacturer Daimler Trucks North America. Here is a look at the Freightliner Inspiration.
In a world of volatile diesel fuel prices that rise and fall on a daily basis, the biggest operational variable for any trucking fleet is not within their control. Nikola Motor is promising to change that with its hydrogen-powered electric tractor. U.S. Xpress, is one fleet that believes the future may be hydrogen.
For anyone involved in the movement of goods, weather plays a great unknown. It can cause delays and even cancelled orders, which means lost revenue. But one company is trying to help identify potential weather issues so vehicles can be safely rerouted.
The required implementation of electronic logging devices later this year has created plenty of worry within industry circles. Beyond the logistics of installing the devices, though, carriers and shippers need to be worried about the business impact: specifically lost productivity and rising rates.
Those on both sides of the freight business have struggled for years with volatile shipping rates. Contracts get locked in for months or more with no assurance that the contract will reflect current prices when loads are delivered. TransVix believes part of the solution to this problem is the creation of a Trucking Futures Exchange.
From drones to the Internet of Things (IoT), technology is pushing the boundaries of what is possible in the world of business. It is no different for transportation entities, especially shippers and carriers who are embracing technology while remaining mindful of ever-slimming margins.
