Turnover at truckload fleets remained high in the fourth quarter of 2014, according the American Trucking Association’s chief economist, Bob Costello. Costello considers turnover at truckload fleets to be a barometer of the driver shortage
Archive for the ‘FOOD & BEVERAGE’ Category
DOT Unveils Its Long-Term Transpo Funding Bill
Although it’s likely to land with a solid thud on Capitol Hill — given that there are just two months left until current surface-transportation legislation expires — the U.S. Department of Transportation officially announced its $478-billion, six-year transportation reauthorization proposal.
Global air cargo soars on Chinese New Year, U.S. port congestion
(This article requires registration at the Journal of Commerce. To access, please click on the above link.) Global air cargo traffic soared by 11.7 percent in February, driven largely by the timing of the Chinese lunar New Year and the congestion at U.S. West Coast ports, the International Air Transport Association reported. There was a […]
Driver wage hikes could raise truckload pricing 12-18 percent
(This article requires registration at the Journal of Commerce. To access, please click on the above link.) Hefty increases in truck driver wages will propel truckload rates higher in 2015 and beyond, potentially pushing pricing up by double digits, a transportation analyst warns. Truckload rates may need to rise as much as 12 to 18 […]
“Grow America Act” Welcomed by U.S. Supply Chain Managers
The United States Department of Transportation (DOT) introduced The GROW AMERICA Act, a six-year, $478 million transportation reauthorization bill yesterday. Specific components of the GROW AMERICA act include: $317 billion towards the nation’s highway and road safety, which will increase the amount of highway funds by an average of about 29 percent above FY 2015 […]
Railroads Caught by Speed of Crude-Oil Collapse
The slowdown that North American railroad companies had been bracing for in crude oil shipments has turned into a rout, with volumes falling faster than executives had predicted. With energy companies scaling back drilling after prices for the commodity fell about 50% since July, industry executives and analysts anticipated that demand for hauling crude and […]
Flatbed Demand Picks Up in Spot Market
The spot freight market was mixed last week as load availability decreased 3.9% and capacity crept upward by 6.6%, according to the latest numbers from DAT. Flatbed activity picked up, reefer loads fell, and van freight was steady. Flatbed load ability grew 7.7%, and capacity fell 2.4% for the week. The flatbed load-to-truck ratio also […]
Port of New Orleans setting new cargo throughput records
2014 was a very good year for the Port of New Orleans, and officials there are forecasting an even more robust cargo scenario in 2015. New Orleans had an all-time container mark of 490,526 twenty-foot-equivalent units (TEUs) in 2014 and officials here are forecasting well over 500,000 TEUs for 2015.
LTL Profit Revival in The Works
The once-beleaguered $35 billion less-than-truckload (LTL) sector, beset by stagnant growth and lackluster profits for much of the past decade, is enjoying a revival. Mostly because of the strong industrial and retail economy, as well as tightness in capacity due to the lack of any new entrants in the past 10 years, the LTL sector […]
Oil Prices May Have Further to Fall
Oil bulls got another piece of bad news today from an unlikely source: the Federal Reserve. U.S. crude production has continued to rise in spite of the collapse in oil prices. The Fed’s oil extraction index clocked in at a seasonally adjusted 179.8 in February. That’s up 0.4 percent from January and 14.4 percent from […]