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Industry Insights

Higher freight rates expected in 2019-20

Rail freight rates for moving western Canadian grain to market will be going up in the 2019-20 crop year. | File photo

In a determination dated April 30, the Canadian Transportation Agency announced that the Volume-Related Composite Price Index (VRCPI) will be increasing at Canadian National Railway and Canadian Pacific Railway beginning Aug. 1.

The VRCPI is used to determine how much Canada’s major railway companies can charge for moving grain on federally regulated railway routes under the maximum revenue entitlement program.

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J.B. Hunt launches new drop trailer program 360box

J.B. Hunt launches new drop trailer program 360box
John Paul Hampstead, Associate Editor John Paul Hampstead, Associate Editor  3 hours ago

J.B. Hunt (NASDAQ: JBHT) announced the launch of a drop trailer program called J.B. Hunt 360box that will give small carriers using the app access to drop and hook freight. This summer, 500 trailers will be made available for shippers to reserve, and carriers can bid on moving those trailers through J.B. Hunt’s carrier app.

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Uber Freight’s on-demand logistics to be available inside SAP’s Logistics Business Network under ne

Building a small business is difficult if you don’t have access to the same powerful tools that larger competitors do. Uber Freight, with its growing suite of tools, has been trying to empower small fleets and owner-operators to allow them to compete on an even playing field.

This morning, Uber Freight announced a partnership with SAP SE (NYSE: SAP) that will integrate Uber Freight into the into SAP Logistics Business Network, letting supply chain participants from both companies access transportation rates from Uber’s digitally activated carrier network and gain real-time quotes and guaranteed freight capacity, greatly simplifying load management and execution.

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Freight brokers call market bottom, look for spring tightening

For freight brokers, the story in the first quarter of 2019 was one of relatively normal freight volumes, loose capacity and margins that widened even as brokers bid aggressively on contract freight and undercut asset-based carriers.

Take J.B. Hunt’s (NASDAQ: JBHT) brokerage, Integrated Capacity Solutions (ICS), as an example. Hunt reported first quarter earnings on April 15. ICS posted volume growth of 15 percent year-over-year in the first quarter, but revenue per load dropped 11.5 percent to $1,041. In other words, ICS grew its volumes by cutting prices by double-digits. Still – and this is why market conditions were so favorable for brokerages this past quarter – ICS was able to widen its gross margins from 14.4 percent in the first quarter of 2018 to 16.5 percent in the first quarter of 2019.

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Check out these 5 Fantastic Charities geared towards truckers.

Many forget, the life of a truck driver is not for the faint of heart.  These extrodinary men and women sacrifice on a daily basis what many take for granted such as coming home to loved ones every night, a home cooked meal, your cozy bed at home (no.. we're not talking your cozy sleeper cab this time).  

Check out these wonderful charities worth spreading the word about and consider donating to.   These fantastic charies range from health & financial assistance, reconnecting a pets with owners, meals and more!   I'm sure many have not considered these and its up to us to spread the word and always keep these fantastic charity options in mind!   

We at Trucklenders USA feel all these charity programs deserve all the help and shout-outs they can get, so they may continue on to do their job and help a fellow trucker in need during hard times.   

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Lasting all this week..Driver safety enforcement

Keep your eyes open and on the road.

The Commercial Vehicle Safety Alliance’s Operation Safe Driver is this week.  Police will be on high alert and on the lookout for unsafe driving behaviors by commercial motor vehicles and passenger vehicle drivers.   In 2017, nearly 39,000 citations and warnings were issued to truck drivers during Operation Safe Driver Week. More than 84 percent of these violations were for state and local moving violations, according to the CVSA.  Check out what enforcement officers will be on the lookout for.  This is the perfect time for a self check on some driving behaviors we perhaps need to change.  We at TruckLendersUSA want all Truck drivers on the road and safe.  The best type of driver on the road, is a safe and alert driver.

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