Loaded and Rolling

On Tuesday, FreightWaves interviewed Josh Bouk, president of Trax Technologies, about the recent Securities and Exchange Commission rule-making recommendation back in March 2022 regarding scope 3 emissions. Scope 3 is a part of a larger greenhouse gas emissions overhaul by the SEC, the intent being for companies to disclose their impact on the environment.

Bob Biesterfeld, president and CEO of C.H. Robinson Worldwide Inc., stepped down Tuesday. FreightWaves’ Mark Solomon wrote that according to a person familiar with the matter, this departure had been planned months in advance and mostly was a matter of timing. 

Persistently higher inventory levels are causing a drag on truckload tender volumes as 2023 begins. 2019 and 2018 SONAR data indicates we may approach levels of pre-pandemic seasonality, but higher truckload capacity will continue to negatively impact rates until enough truckload supply leaves the market.

Outbound tender rejection rates, a measure of the percentage of truckload shipments tendered to carriers by shippers, have reached a record at 5.05%. For trucking, this will be a cause of mostly stress instead of celebration. 

Uber Freight recently released a report on contracted rates. Its consensus is that contract rates are indeed falling, but like a game of contracted musical chairs, we still do not know when the music will stop. 

Atoke, a town of 3,000 people nestled in the Choctaw reservation in southeast Oklahoma, used to be home to herds of buffalo and bison (there is in fact a difference). Now this reservation, a hidden 11,000-square-mile parcel of land, has become one of the largest drone delivery testing sites in the world, according to FreightWaves’ Jack Daleo. 

One of the most interesting takeaways in the chart above details how traditional freight brokerages that have built and marketed their own apps have taken the lead in downloads over third-party load boards.

urricane season can frequently — and unexpectedly — change the trucking dynamic. Part of this involves the positioning of equipment in anticipation for hauling FEMA freight.

Inbound container volumes into the U.S. bode poorly for future trucking volumes. Trucking is the critical node for transporting goods, handling over 70% of freight in the U.S. at a given time.

The American Trucking Associations’ (ATA) seasonally adjusted For-Hire Truck Tonnage Index increased 2.8% in August after a disappointing 1.5% drop in July. The ATA data primarily relates to contracted freight tonnage volumes and is a useful indicator of shipping activity.

The outlook for trucking companies buying new or used Class 8 trucks can best be described like a 2005 Facebook relationship status — “It’s complicated.” 

FreightWaves, in partnership with MerQube, an index provider, on Tuesday released a supply chain tech index. This index is composed of companies identified by FreightWaves and MerQube as supply chain tech companies and traded on developed market exchanges.

U.S. Xpress is going through a reorganization following a recent round of layoffs. The technology-driven Variant program will be merged into a larger Highway Services group, which will include the legacy over-the-road business and the USX freight brokerage.

Driver training schools are seeing an influx of those interested in joining the trucking industry. 

For many over-the-road drivers, a major source of their meals can come from C-store locations built into truck stops like Love’s, Flying J and Pilot.

The trucking business is often cyclical, and understanding the changes in profitability is a great barometer for the general macroeconomic outlook.

On Monday, the Iowa-based truckload carrier acquired several assets from the Contract Freighters Inc. (CFI) portfolio

FreightTech 100 nominations end soon It’s the second most wonderful time of the year behind college football returning. If you or someone you know is innovating or disrupting the freight […]

Rail service levels are impacting trucking intermodal growth plans. At a Deutsche Bank transportation conference on Tuesday, J.B. Hunt noted that intermodal demand remained strong but poor rail service appears to be creating a bottleneck. 

Trailer pools as a hedge against contract rate declines, Electric truck infrastructure — breakthroughs versus misconceptions

ATRI: Costliest year ever in trucking On Wednesday, the American Transportation Research Institute (ATRI) released its annual report on the operational costs of trucking. The report, which has been published […]

Legal battle over trucking independent contractors The trucking owner-operator business model is getting more legal challenges. The 7th U.S. Circuit Court of Appeals overturned a lower court decision in May […]

Trailer pool services are gaining adoption. Wabash, a major manufacturer of equipment, recently announced a partnership with Phoenix-based freight brokerage FreightVana to supply the company with its trailer-as-a-service (TaaS) platform.

FreightWaves recently conducted a survey of owner-operators outlining business issues and outlooks on profitability in 2022 compared to the previous year.

A common theme during the downward swing in the cyclical freight market cycle is the movement of owner-operators in and out of large fleets.

The Port of Oakland in California is experiencing a work stoppage and limited access to the container terminals as truckers escalate their protests against the state’s AB5 law.

New rules proposed by the Securities and Exchange Commission regarding disclosure of climate-related risks and greenhouse gas emissions could greatly impact the trucking industry.

The protests stem from the potential impact the AB5 law will have on the over 70,000 owner-operators who operate in California.

Loaded and Rolling: Holiday impact on trucking; CA AB5 law goes into effect; Inflation headwinds batter consumer spending in May

Driver as a service: J.B. Hunt becomes Waymo’s first self-driving freight customer, Commentary: The dangers of dwell, Market update: Outbound tender rejections decline amid rising spot rates

Supreme Court blocks COVID vaccine mandate for large businesses On Thursday, the Supreme Court ruled in a 6-3 decision that blocked enforcement for vaccine or testing requirements for large private […]

FreightWaves’ Top 500 Largest For-Hire Carriers list FreightWaves just released the inaugural Top 500 list of the largest for-hire trucking fleets in the U.S. The ranking is based on tractor […]

Driver recruiting challenges, pay and demographics trends Driver recruiting remains a key challenge heading into 2022 due to pandemic, demographic and economic trends. Pay and wages remain a central theme […]

Cybersecurity and large fleets: Risks of cyberattacks on the rise Cybersecurity is becoming a major topic in trucking due to recent publicized ransomware attacks against motor carriers. Ransomware is a […]

Struggling for capacity: A briefing on fleet availability The holiday season in trucking traditionally sees lower driver activity due to the Christmas and New Year’s holidays. The driver’s home time […]

Trucking trends of 2021: Buying growth, expanding capabilities It’s the end of the year and for the trucking industry, disruption, record profits and new opportunities are all major themes to […]

Capacity crunch: Competition for carriers brings rising costs, new opportunities Continued freight demand and limited truckload supply are allowing trucking companies to be selective with which loads to take, causing […]

In today’s newsletter: Enterprise carriers race to innovate; Component shortage delays electric vehicles; ATRI top truck bottlenecks of 2021. Enterprise carriers race to innovate by embracing new technologies and partnerships […]

Central Freight Lines shuts down, U.S. Xpress fires truckload exec and ACT releases driver hiring data Central Freight Lines to shut down after 96 years Central Freight Lines to shut […]

In this issue: AI Fleet raises $21 million; the American Transportation Research Institute ranks trucking concerns; and the Logistics Managers’ Index is expanded. Trucking in disruption: AI Fleet raises $21 […]

Stephens investment conference trucking equipment highlights Supply chain challenges were the main focus at the Stephens annual investment conference earlier this month in Nashville, Tennessee. Executives said driver recruiting and […]

ATRI research on truck driver motivations and satisfaction The American Transportation Research Institute released results on its analysis on what motivates truck drivers to become company drivers or owner-operators/independent contractors […]

J.B. Hunt transload service starts as shippers deal with intermodal and port congestion J.B. Hunt Transport Services has started a transload service in the New York metro area. In a […]

House Transportation Committee hearing on truck driver shortages In remarks to the House Committee on Transportation and Infrastructure, MIT Professor David Correll recently outlined yearslong research conducted by the MIT […]

Private trucking fleets expand amid soaring spot rates According to a recent National Private Truck Council Report, private fleets continue to expand due to high spot market rates and dwindling […]

F3 Virtual Experience trucking roundup Last week FreightWaves hosted the F3 Virtual Experience, which involved industry leaders discussing topics related to the future of freight, key factors impacting markets, industry […]

Infrastructure bill and trucking impact On Nov. 5, the U.S. House of Representatives passed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) by a 228-206 vote after passage by […]

FMCSA new authority approval at record high from spot rates and tight capacity  The Federal Motor Carrier Safety Administration is setting records. New motor carrier authority approvals are at an […]

Motor Carrier Act of 1980, OTR driver shortage, consumer confidence falls

Dedicated trucking becomes more committed, truck parking capacity crunch, consumer spending sky high