Industry Insights
Commercial Truck Financing
Shared truckload offers pricing benefits to shippers, carriers
The only thing anyone can say for certain about the transportation markets is that they change. Whether due to global disruptions like pandemics or simple seasonality, volumes and capacity are constantly in flux. When these shifts get especially volatile, the whole industry feels the effects. Shared truckload (STL) offers a way for shippers and carriers alike to make the most of any market conditions.
Shared truckload enables multiple shippers to share trailer space in one multi-stop full truckload. Ultimately, this allows shippers to eliminate wasted space, drives revenue gains for carriers and even reduces the environmental impact of moving goods.
The concept of shared truckload isn’t new. It has been around for years in the form of multi-stop truckload, often facilitated by consolidators who handle products through regional warehouses or brokerages that manually pair freight on load boards. These methods, however, come with no guarantees.
Flock Freight created an algorithm that allows the company to optimize shared truckload. The first-of-its-kind technology automates and guarantees STL services, ensuring customers always get what they’re promised. To date, Flock Freight has executed over 13,000 shared shipments.
LA, Long Beach terminals adjust hours to disinfect between shifts
Los Angeles and Long Beach container terminals have adjusted their second-shift operating hours to provide time to disinfect all handling equipment between shifts.
The Centers for Disease Control and Prevention has recommended the daily cleaning and disinfecting of frequently touched surfaces and objects to prevent the spread of the coronavirus.
Second-shift gate operations now begin at 7 p.m. and end at 4 a.m. at APM Terminals’ Pier 400 at the Port of LA as well as Everport Terminal Services, Fenix Marine Services, TraPac, West Basin Container Terminal and Yusen Terminals.
“We have adjusted our appointment windows for all transaction types to fit the newly adjusted schedule,” APM Terminals said in an announcement.
Gate operations will be idle from 4:45 to 7 p.m. as equipment is disinfected, APM Terminals said. Typical second-shift hours are 6 p.m. to 3 a.m.
We are working hard to address your concerns, fund your requests and provide 90 days extensions!
We are working hard to address your concerns, fund your requests and provide 90 days extensions! Lets keep America Moving #trucklendersusa
Walmart Hiring 500 Truck Drivers - $87,500 A YEAR
RTTNews) - Walmart said it plans to expand its trucking fleet, and will hire more than 500 truck drivers this year, mainly across the West and East Coast regions. The retail giant already employs more than 9,000 drivers.
The plan comes amid a nationwide truck driver shortage. However, the company needs drivers to support its growing e-commerce business.
Port of Long Beach will study automation’s impact on city Chris Dupin
The Long Beach City Council has directed the city’s harbor department to conduct a study on the economic impact of port automation on the city.
The council voted 8-0 to order the study at its Aug. 20 meeting. It’s the latest in a series of studies and legislation proposals having to do with automation in the wake of a failed effort by the International Longshore and Warehouse Union (ILWU) to prevent APM Terminals from installing robotic equipment at its terminal at Pier 400 in the neighboring Port of Los Angeles.
Over-capacity and the freight recession of 2019 (with video) ( Article by FreightWaves Kevin Hill)
A new FreightWaves Intel Group whitepaper reports that 2018 was a tale of two markets. The first half was characterized as, not one of, the best bull market many in the industry had witnessed since deregulation in the early 1980s. Trucking and logistics executives thought a new normal was emerging as trucking capacity trailed far behind a surge in load volumes.
This euphoria did not last long, however. The perfect storm of dual hurricanes, electronic logging device mandates, and an economic boost created by corporate tax cuts, created an increase in load volumes and a constraint on capacity that lasted less than a year. In a five-month span from June to October 2018, tender rejection rates (OTRI.USA) halved from a high of 25.6 percent to 12.8 percent in early October. Tender rejection rates continued to fall following the holiday season and were under 6 percent at the end of June 2019.
While there is not a universally accepted definition for a freight recession, FreightWaves believes any definition should include some combination of multi-quarter consecutive drops in tender load volumes, tender rejections, spot rates and market sentiment.
Source: FreightWaves SONAR, Q3 2019 Carrier Outlook Survey
Based on the declines described in the table above, it is clear that the first half of 2019 the freight market has been in a freight recession. Carrier Outlook: Over-capacity and the Freight Recession of 2019 is now available to FreightWaves SONAR subscribers on the SONAR platform. The research goes into detail about the freight recession and what is ahead.