Truckload Indexes

I woke the other day to a bright ray of sunshine beaming down through my bedroom window. It’s definitely Spring — rain tonight/tomorrow — then sunshine for a couple of days. Nature has already shown recovery from the Winter months of dormancy. Some of you are just now experiencing that Spring effect as well. Even with the stay at home orders of recent, my little town in SW Indiana does not appear to have heard that message.

FreightWaves’ Zach Strickland and JP Hampstead discuss the current elements impacting the spot market, key markets to watch, and whether we’re seeing a V-shape or U-shape pattern in terms of economic recovery.

Freight haulers across transport modes join effort to raise awareness.

FMCSA has expanded the types of crashes eligible for review under its Crash Preventability Determination Program, giving fleets and drivers more options to have non-preventable crashes removed from their record.

The need for social distancing will push companies to look at increased automation of their warehouses.

Driver said pay should include tank wash revenues in the base, but he didn’t say it fast enough

As societal shutdowns because of the COVID-19 pandemic dragged on into the middle of April, the food supply chain has started to center itself.

The Truckload Carriers Association (TCA) has opened up applications for its Scholarship Fund. The fund awards up to $6,250 per year, per full-time college student.

We are bearing witness to today’s trucker as the backbone of our nation’s supply chain, staying the course during this turbulent time and supplying our essential needs through product deliveries every day. While the public has a newfound appreciation of truck drivers and those that support them inside the business, there are pockets of concern in the trucking industry. While many are thanking drivers at #KnightsoftheRoad and #ThankaTrucker for their dedication to their job, and their willingness to perform their duties as an essential worker, there are other mounting problems.

A group of 117 organizations, led by the American Truck Dealers, has written to leaders of Congress asking for a suspension of the 12% federal excise tax on new heavy-duty trucks and trailers.

The capacity picture is still lagging and continues to be at historically loose levels, but even though spot rates bounced in a few markets, overall rates are still horrible. The result is continued pricing power for shippers in the weekly DHL Supply Chain Pricing Power Index.

As the government pumps more money into the economy, many are questioning where the money is coming from? It’s coming from America’s “Magic Money” tree.

Even as businesses have shut down, traffic data from Inrix showed that, as of April 17, 87% of all truck vehicle miles were still being driven.

Resilience360 recently released reports analyzing the impact of COVID-19 on trade between the United States, Canada and Mexico.

FMCSA has proposed a rule that would force states to stop issuing new, renewing or upgrading CDLs and CLPs, and in some cases even downgrading, for drivers until they complete the return-to-duty process following a positive drug or alcohol test result.

As states begin to reopen their economies, leading retail trade groups urge the opening of all distribution centers and implementation of a three-phase reopening strategy.

78% of truck drivers posted positive comments regarding their morale, with many thanking carriers for supporting them, in the latest sign that carriers are effectively supporting their drivers.

The frustration of 300 million people is bound to show with regards to this virus shutdown. This week, the media began showing a small subset of people protesting the shutdown and showing disregard towards the Country’s safe distancing protocols. If these businesspeople and workers show disregard during a protest, what will their protocols be when they reopen their businesses? In every business situation we need to measure Risk vs Reward, but usually, the risks are confined to your business, not the total U.S. business.

“Things haven’t been great, but I feel like it’s not about me right now. Some of us out here are determined to feed America or die trying,” trucker Mike Baker said about hauling for meat processing plants, some of which are now shutting down.

Even as states reopen, there is too much uncertainty ahead to predict boom times returning, but there is finally some optimism appearing.