A Pew Research Center survey found that 22% of Americans moved or knew someone who movedbecause of the COVID-19 pandemic. In August, Axios reported that rents in Manhattan were falling while people searching for new homes across the U.S. on the Compass Real Estate website were up 40%. The mass exodus from major cities like […]
As capacity tightens in the trucking industry, some carriers are beginning to announce pay hikes. While the frequency of these increases are not yet nearing the rapid pace of hikes the industry saw during the busy year of 2018, some industry watchers said they would not be surprised to see more jumps. “I’ve seen a […]
The expectation for truckload (TL) contractual rates to increase by double digits in 2021 is growing. In a Wednesday note to clients, UBS (NYSE: UBS) transportation equities analyst Tom Wadewitz outlined the fundamentals supporting this projection. “The current extreme tightness in the TL spot market plus a constructive outlook on freight point to double-digit rate […]
Our Outbound Tender Volume Index (OTVI) is calculated on a seven-day moving average basis to smooth out daily volatility. Due to this, the index is distorted for the week following a national holiday, like Labor Day. This renders weekly comparisons near meaningless this week. In a continuation from last week, the accepted tender volume level […]
The Federal Motor Carrier Safety Administration on Sept. 18 extended its waiver that allows truck drivers to operate with an expired commercial driver’s license, commercial learner’s permit or medical certification that expired on or after March 1, 2020. The extension is effective through Dec. 31. The agency previously extended the waiver through Sept. 30. States, […]
More than six months into the COVID-19 pandemic the trucking industry’s health is stronger than the U.S. economy, as segments used in final-mile delivery, e-commerce, and deliveries to grocery stores and hospitals thrive. But the latest government reports show an economy continuing to struggle to recover amid a surge in the federal deficit and stubbornly […]
The Outbound Tender Volume Index (OTVI) climbed another 1.4% this week to a new all-time high of 16,053. OTVI has posted a string of consecutive all-time highs for many weeks now. It is important to note that OTVI does include rejected contract load tenders, so the true organic growth of load volumes is significantly lower […]
The price of diesel jumped by 1.5 cents nationwide to $2.441 a gallon, the Energy Information Administration reported Aug. 31, as much of the nation’s oil exploration and refining capacity was shut down because of two severe-weather events. Hurricane Laura and Tropical Storm Marco wreaked havoc after coming ashore off the Gulf of Mexico, near […]
California clean air regulators have approved a new rule aimed at dramatically limiting emissions from slow-moving and idling trucks, arousing the ire of trucking groups and potentially setting up another conflict with the Trump Administration over the state’s authority to enact air quality regulations. Members of the California Air Resources Board (CARB) on Friday unanimously […]
Periods of torrential rainfall will continue to drench parts of the nation’s heartland over the next couple of days. Carriers and shippers alike should expect some minor delays as drivers deal with slowdowns and potential road closures. The National Weather Service (NWS) has already reported areas of flash flooding from just south of Oklahoma […]
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