The Weekly Freight Report for June 4, 2020
The Top 7 Stories in Freight
Good news for the freight industry… The driver shortage is over… economists are calling for an 'extraordinarily dynamic recovery'… and long haul freight indicators point to a June bounce. Catch up on the top headlines with The Weekly Freight Report:
1. Driver Shortage Temporarily Diminishes with Volumes
At the beginning of 2020, a shortage of drivers was one of the leading transportation challenges. Today? Not so much. With freight demand diminishing, so is the driver shortage. But that isn’t expected to last once volumes return. With the number of drivers entering the field dropping dramatically, the driver shortage is expected to bubble back up with a vengeance. Get the full story here.
2. Profitable Loads Plague Freight Matching
Digital freight brokerages continue to struggle to disrupt the freight industry. Why? Because the true issue at hand isn’t freight matching or automation… it’s finding consistent profitable loads for carriers. But solving that issue is more complicated than it seems. And it could be a while before true disruption hits the market. Get the details.
3. U.S. Economy to Rebound Quicker Than Expected
The second half of 2020 is looking up, according to trucking economists. Low interest rates, low inflation and return to domestic manufacturing are a few reasons for this bullish prediction. Recovery is expected to be ‘extraordinarily dynamic’… Now that’s something we can all cheer. Check out the anticipated growth sectors here.
4. Protecting Your Fleet Against Ugly Lawsuits
Nuclear verdicts are on the rise. And with many resulting in carrier bankruptcies and closures… to call them terrifying is an understatement. But carriers can reduce their legal risk should something take place. Technology… safety programs… and regular audits are just a few ways to protect yourself. Check out the full list here.
5. Film Production Drivers Get Drug Testing Safeguard
Drivers hauling movie production equipment now have flexibility from Clearinghouse. But they aren’t exempt from it. MPCS is the trucking regulatory service and the FMCSA feels it’s regulations are equally as safe as Clearinghouse. Yet, not everyone agrees… arguing this agreement goes against the entire point of Clearinghouse. Read up on the controversy here.
6. Warehouse Replenishing Drives Freight Recovery
Volume is surging across U.S. freight… and it’s an encouraging sign. With states slowly reopening, warehouses and DC’s that were sitting idle need replenishing to get back up and running. Not only is this driving longhaul domestic freight recovery… it signals that recovery might be stronger and faster than anticipated. Check it out.
7. Technology to Improve Ongoing Detention Issues
Demand has levelled off and with it dwell times… but detention remains a top issue for carriers and shippers. But the JOC says it’s nothing a little technology can’t fix. From labor monitoring softwares to time management databases… the future’s looking bright. Take a look.
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