Archive for October, 2017

Florida, Texas Lose 135,000 Jobs, But Are Set for a Rally

Florida and Texas shed almost 135,000 jobs in the wake of storms that battered the Southern and Eastern U.S., but broad reconstruction efforts and increased consumer spending will likely benefit other parts of the economy and lead to a rally in jobs. Floridians lost 127,400 jobs in September, seasonally adjusted, as Hurricane Irma hit, while […]

Rate volatility puts carriers’ BCO business at risk

Despite the goal of newly consolidated carriers to reassert themselves to create value in the supply chain, rate volatility and how that alienates key customers and further strengthens non-vessel-operating common carriers (NVOCCs) may permanently limit carriers’ role to provide wholesale capacity. In other words, some are suggesting that carriers are digging themselves into a hole […]

Truck Driver Crunch Could Send Wages Skyward

After years of stagnant wages, truckers look to be in line for several years of strong income growth as the major motor carriers scramble for drivers. The factors playing into the crunch are myriad. At the top is the low appeal of trucking as a career for wage and quality-of-life reasons. Then there’s difficulty obtaining […]

CSX’s intermodal overhaul holds promise for shippers

CSX Transportation’s overhaul of its network, which caused disruptions to international and domestic intermodal services, and the trimming of some of those services to Columbus, Ohio, and Detroit, ultimately may benefit shippers. It is too soon to tell, but CSX CEO E. Hunter Harrison plans to present his vision at an investors’ meeting in late […]

FMCSA Issues Two Narrow ELD Exemptions to All Carriers

Having decided to grant part of a United Parcel Service request for a limited 5-year exemption from some provisions of the electronic logging device mandate, the Federal Motor Carrier Safety Administration will now allow all motor carriers – not just UPS – and drivers to make use of two new temporary exemptions from the ELD […]

Driver Shortage Could Hit All Time High This Year

The trucking industry could be short 50,000 drivers by the end of 2017, warned American Trucking Associations Chief Economist Bob Costello Sunday at the American Trucking Associations Management Conference & Exhibition.

New Gauge of Freight Shipping and Economy Debuts at ATA

U.S. Bank announced the launch of a new barometer for assessing the nation’s shipping industry on Sunday during the American Trucking Associations’ Management Conference and Exhibition in Florida. The U.S. Bank Freight Payment Index measures quantitative changes in shipment and spend activity, based on data from transactions processed through U.S. Bank Freight Payment.

Weekly mortgage applications fall 4.6% as rates rise

A few weeks ago, it looked like interest rates were on their way down again, but that was short-lived. So was the surge in mortgage application volume that went along with it. Interest rates rose last week, and consequently total mortgage application volume fell 4.6% from the previous week. The Mortgage Bankers Association’s seasonally adjusted […]

Cargo demand up in Asia Pacific but carriers still face pressure

Asia Pacific carriers reported another month of cargo growth in September, but continued to come under pressure due to fierce competition in the region. The latest figures from the Association of Asia Pacific Airlines (AAPA) show that cargo demand increased by a “solid” 11.4% year on year in September to 6bn freight tonne km (FTK). […]