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US for-hire trucking employment takes a plunge
William B. Cassidy, Senior Editor |
Real, unadjusted jobs in trucking dropped by 21,200 in September, an unusually high number, as contract and spot truckload rates declined.
Truckload
LTL
Truck brokers
US truck shippers rethinking spot strategy: analysts
William B. Cassidy, Senior Editor |
More shippers are returning to the truckload spot market as rates drop, but experts say they’re using that market more strategically than ever before to reduce transportation costs.
Truckload
Truck brokers
Defeat of truck-only tolls to ease transportation costs in US Northeast
William B. Cassidy, Senior Editor |
A US court ruling that declared Rhode Island’s truck-only tolls unconstitutional will save tens of millions of dollars in operating and shipping costs yearly for truckers and their customers.
Truckload
LTL
Truck tonnage surge shows crack in freight gridlock
William B. Cassidy, Senior Editor |
US for-hire truck tonnage jumped 2.8 percent in August from July, according to the American Trucking Associations, as consumers and the US economy remained resilient despite inflation.
Trucking News
LTL
Truck brokers
Lower costs for US shippers seen in trucking PPIs
William B. Cassidy, Senior Editor |
The US producer price indexes (PPIs) for trucking dropped in August as contract pricing cooled and fuel prices and surcharges came down.
LTL
US manufacturers producing higher truck volumes
William B. Cassidy, Senior Editor |
The average manufacturing shipping volume rose 1 percent in August year over year, while other industries saw their truck shipments drop 4.6 percent, according to FourKites.
Truckload
LTL
Spot truckload rates dropping from US ports
William B. Cassidy, Senior Editor |
The decline in outbound per-mile spot rates from US ports dropped more than the US average in August as normal seasonality and abnormal gridlock crimped demand, a JOC analysis shows.
Truckload
US Xpress reorganizes, emphasizing contract business
William B. Cassidy, Senior Editor |
Stung by lower tractor utilization rates and rising costs, truckload carrier US Xpress pares back its technology team and real estate, and focuses on adding truckload contract business.
Truckload
ODFL’s LTL volume takes seasonal dip in August
William B. Cassidy, Senior Editor |
LTL shipments at Old Dominion Freight Line fell about 3 percent year over year in August, following a more seasonal pattern than August 2021 when shipments jumped 17 percent.
LTL
US transport hiring rises, but not at warehouses
William B. Cassidy, Senior Editor |
While trucking makes hiring gains in the US, unadjusted warehousing and storage employment has fallen in four of the past five months, contributing to supply chain bottlenecks.
Trucking labor
US extends truck driver hours exemption ahead of expected COVID surge
William B. Cassidy, Senior Editor |
The HOS exemption has been extended five times since it was put in place in 2020 by a presidential emergency order, and it has been modified as the pandemic evolved.
Transport, Trade and Regulation News
Trucking News
XPO isn’t braking for economic slowdown
William B. Cassidy, Senior Editor |
The incoming CEO of XPO Logistics is intent on adding capacity in the form of terminals, trailers, and drivers to meet long-term demand for less-than-truckload services.
LTL
Warehousing space gets scarcer in Chicago
William B. Cassidy, Senior Editor |
Weeks of delays in moving freight from US ports to Chicago are eating into the inland warehousing space needed to get that freight out of intermodal railyards and to customers.
Trucking News
July US truck tonnage at ‘elevated levels’: ATA
William B. Cassidy, Senior Editor |
The American Trucking Associations reports truck tonnage levels were still high in July, running counter to reports that trucking demand is weakening ahead of the fourth quarter.
Truckload
LTL
Heartland doubles revenue stream with deal for CFI units
William B. Cassidy, Senior Editor |
The largest truckload acquisition to date this year would put Heartland at about 11th on the Top 25 Truckload Carrier rankings prepared for JOC.com.
Truckload
Demand drives JOC Truckload Capacity Index to record high
William B. Cassidy, Senior Editor |
Large truckload carriers are adding capacity, whether by purchasing trucks or acquiring trucking companies, and that's pushing the JOC Truckload Capacity Index to its highest level ever.
Truckload
Truckload rate relief coming to US shippers: Cass
William B. Cassidy, Senior Editor |
It is “highly probable” US shippers will recover at least some of last year’s truckload rate hikes, as the Cass Freight Index shows a sequential drop in truckload linehaul costs.
Truckload
LTL
Truck brokers
Trucking PPIs drop as fuel prices, surcharges fall
William B. Cassidy, Senior Editor |
Declines in the producer price indexes for various sectors of trucking reflect falling fuel surcharge revenue and lower rates in new contracts, but don’t point to a large-scale pricing rollback.
Truckload
LTL
LTL carriers expanding despite slowing US economy
William B. Cassidy, Senior Editor |
Some of the largest US less-than-truckload carriers, including FedEx Freight, are adding terminals and doors to their networks as LTL freight demand defies the threat of economic recession.
LTL
High demand keeps lid on truck capacity: experts
William B. Cassidy, Senior Editor |
Strong trucking demand beyond the truckload spot market is to keep pressure on truck pricing, and will do so into 2023, speakers at a JOC webcast said Wednesday.
Truckload
LTL
Truck brokers
US trucking demand steady despite steep spot rate correction
William B. Cassidy, Senior Editor |
The US trucking market is reinventing itself after a significant spot market correction, with larger contract carriers expecting steady freight demand through 2022 despite economic fears.
Truckload
LTL
Truck brokers
JOC Rankings: Surging trans-Pacific boosted global port volumes in 2021
Teri Errico Griffis, Associate Editor |
With North American shippers importing record amounts of Asia-made goods, the largest gains by volume were recorded at the Chinese ports of Shanghai, Ningbo-Zhoushan, and Shenzhen.
Port News
US LTL trucking ‘in a good spot’: ODFL CEO
William B. Cassidy, Senior Editor |
The gap between truckload and LTL grows wider as LTL carriers maintain pricing discipline and focus on network density to drive revenue and profit growth.
LTL
Truckload executives see US capacity under pressure
William B. Cassidy, Senior Editor |
Truckload capacity is reportedly loosening, but carrier executives say it could tighten again quickly for US shippers in a market that remains in flux.
Truckload
US trucking looking more ‘seasonal’ to motor carriers
William B. Cassidy, Senior Editor |
Seasonal trends in over-the-road trucking are re-emerging — but not pre-COVID pricing — as the market realigns, truckload carrier executives say.
Truckload
Truck brokers
Trucking costs rising nationwide amid shift to contract: US Bank
William B. Cassidy, Senior Editor |
A shift of freight to contract trucking providers and rising fuel prices boosted shipper spending on trucking across the US in the second quarter, even though volumes fluctuated by region.
Truckload
LTL
Larger US truckload carriers still adding drivers
William B. Cassidy, Senior Editor |
Marten Transport increased its driver pool by more than 15 percent year over year in the second quarter, as the truckload carrier and its competitors seek to balance capacity, freight demand, and profitability.
Truckload
Trucking PPIs indicate ‘cooling’ contract pricing
William B. Cassidy, Senior Editor |
A 2.4 percent drop in the long-haul truckload producer price index for June shows contract truckload rates are softening, but prices shippers pay for LTL and specialized trucking continue to rise.
Truckload
LTL
Truck brokers
US shipper spending rising as shipments fall: Cass
William B. Cassidy, Senior Editor |
The Cass Freight Index shows volatility in shipment volumes, rates, and modal mix with the US economy in a “soft patch” in June.
Truckload
LTL
Truck brokers
US truck demand rising despite slowing economy
William B. Cassidy, Senior Editor |
The US economy likely contracted in the second quarter, but analysts see signs of growing freight activity ahead.
Truckload
LTL
Truck brokers
Trucking makes ‘massive’ hiring gains on strong demand
William B. Cassidy, Senior Editor |
For-hire US trucking companies have added more than 62,000 real jobs since April, a record number for the period fueled by continuing strong contract freight demand.
Truckload
LTL
LTL carrier Pitt Ohio expands in Northeast with Teal’s buy
William B. Cassidy, Senior Editor |
Pittsburgh-based Pitt Ohio is filling a gap in its regional map by acquiring Teal’s Express, a New York-based less-than-truckload (LTL) carrier.
LTL
LTL sector steadily bridging gaps in US supply chain
William B. Cassidy, Senior Editor |
Less-than-truckload (LTL) transportation is more than it used to be, and that’s leading to acquisition and expansion in a US trucking sector that is slowly becoming more international in its focus.
LTL
LTL outlook strong despite economic fears: SMC3
William B. Cassidy, Senior Editor |
The less-than-truckload industry is positioned to ride through a rocky soft patch in the economy and even a short recession with higher pricing, carrier executives at the SMC3 Connections conference said.
LTL
DB Schenker to buy USA Truck for $435 million
William B. Cassidy, Senior Editor |
European logistics company DB Schenker will offer US shippers a more integrated package of domestic and international services by adding truckload carrier USA Truck to its Land Transport division.
Truckload
Roadrunner speeds network amid high LTL demand
William B. Cassidy, Senior Editor |
Long-haul LTL carrier Roadrunner is cutting transit times in 66 lanes and adding more direct routes and truck drivers as freight demand from its shippers remains strong, company executives say.
LTL
No logistics ‘normalcy’ in sight for US shippers: CSCMP
William B. Cassidy, Senior Editor |
Despite softening spot rates in some modes, overall supply chain costs are rising, with higher interest rates putting more pressure on inventories, according to the CSCMP State of Logistics report.
Trucking News
LTL
Truck brokers
Carrier Rankings: Large carriers see decline in Asia–US market share
Teri Errico Griffis, Associate Editor |
The market share of major carriers on the eastbound trans-Pacific fell through the first four months of the year amid the emergence of smaller players who took advantage of the import surge.
Maritime
Demand for digital truckload spot quotes rises as prices fall
William B. Cassidy, Senior Editor |
C.H. Robinson Worldwide says the changing trucking market is driving up demand for automated spot pricing quotes by double-digit percentages.
Truck brokers
Logistics Technology News
Long-haul truckload carriers continue regional buying spree
William B. Cassidy, Senior Editor |
P.A.M. Transportation’s purchase of Northeastern carrier Metropolitan Trucking is the latest in a string of regional acquisitions by large national companies aimed at expanding services for shippers.
Truckload
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