Truckers lost $94.6 billion to congestion in 2021, up from $74.5 billion in 2016, according to a new report by the American Transportation Research Institute (ATRI). The report found that congestion costs the trucking industry in a number of ways, including: Increased driver compensation Higher fuel costs Increased repair and maintenance costs Supply chain disruptions […]
Read MoreThe International Road Transport Union (IRU) has warned that the global truck driver shortage has become a “chronic problem” that is posing a significant risk to supply chains and economic growth. In a new report, the IRU estimates that there is a shortfall of over 2.8 million truck drivers worldwide, and that this figure […]
Read MoreThe truck transportation industry has seen a decline in jobs over the past two months, something that hasn’t happened since the pandemic in 2020. According to figures reported by the Bureau of Labor Statistics, there were 4900 fewer jobs in July than in May for the truck transportation seasonally adjusted job sector. The revision […]
Read MoreYellow, the third-largest U.S. less-than-truckload (LTL) provider, is preparing to file for bankruptcy, according to The Wall Street Journal and other news outlets. The company has been struggling for some time with debts of $1.3 billion and declining revenues and reserves. Yellow Logistics, the company’s 3PL, is up for sale and Yellow is […]
Read MoreThe California Air Resources Board has thrown open the door on comments to its proposed Advanced Clean Fleet (ACF) rule, which sees a phaseout of diesel-powered trucks in the state, even as CARB still does not have the waiver it needs to make it a reality. That proposal includes an acceleration of the target […]
Read MoreAccording to Uber Freight’s first-quarter update on global freight markets, trucking operators are expected to face unfavorable market conditions in the first half of 2023. The truckload supply has exceeded demand, which is attributed to decreased imports and lower consumer spending. The market weakness is likely to continue due to a broad-based volume recession, […]
Read MoreThe ATA’s For-Hire Truck Tonnage Index decreased a further 2.5% in November following a drop of 1.2% in October. The Tonnage Index is largely calculated on contract freight, rather than the spot market freight. “For-hire truck tonnage saw the largest single monthly decrease in November since the start of the pandemic and a total […]
Read MorePublic attention has waned two years into the crisis that disrupted global supply chains, giving the impression that everything is back to normal. On the ground, the US’s busiest port complex is still battling bottlenecks across the board. Responsible for 42% of all containerized trade with Asia, the US’s largest hubs of Los Angeles […]
Read MoreTruckload rates for U.S. spot market loads has cooled in the last three months. The market correction in trucking is currently limited to dry-van and temperature-controlled truckload, while demand and rates remain elevated for flatbed, less-than-truckload (LTL), and last-mile and parcel freight. Donald Broughton, transportation analyst and principal of Broughton Capital, said there is […]
Read MoreThe American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index was unchanged in February after increasing 0.4% in January. Compared with February 2021, the SA index rose 2.4%. Demand for trucking freight services remains strong. The fact that the tonnage index hasn’t fully recovered is a supply problem, not a lack of […]
Read More