freight rate

Trucking Industry Projected to be Stronger Through 2019 and Beyond

Trucking Industry Projected to be Stronger Through 2019 and Beyond

The American Trucking Association (ATA) recently released its projections for the industry, stating it to be strong for at least the next 18 months.  The chief economist at the ATA, Bob Costello, noted that three major factors have come together to provide a solid future for the freight industry: strong online sales growth, low unemployment and booming housing starts.  In fact, Costello told a group of investors via a conference call that not since 2010, when the country was recovering from the recession, have these factors come together to provide a concrete environment.

Trucking Industry Updates

Trucking Industry Updates

Driver Shortage:  Driver capacity is at its lowest since 2005, with a ratio of one truck being available for every 12 loads so far this year, according to DAT Solutions. (1)  With the ELD mandate taking effect last month, drivers retiring and the struggle to recruit the younger generation, as well as government regulations such as hours-of-service, the American Trucking Associates reported that the industry will need nearly 900,000 additional drivers to satisfy demand. (2)  This capacity crunch has caused many shippers to either delay shipments or pay more to get their freight moved.

CargoNet Releases 2nd Quarter Cargo Theft Statistics

 CargoNet Releases 2nd Quarter Cargo Theft Statistics

Less meant more last quarter, according to CargoNet’s 2nd quarter statistics, which found the number of cargo thefts to have dropped but the value of stolen goods increased.