LTL

Spot Rates Highest in Two Years, Expected to Rise Through Year’s End

Spot Rates Highest in Two Years, Expected to Rise Through Year’s End

Natural disasters, driver shortage, a growing economy, higher input costs, increasing pay for qualified drivers…all factors contributing to the highest spot quotes the industry has seen in over two years with van rates on the truckload spot quote market reaching a national average of $1.94 per mile and reefer rates increasing from $2.19 to $2.22 per mile week-over-week, according to DAT Trendlines.

Trucking Capacity and Rate Outlook for 2017

 Trucking Capacity and Rate Outlook for 2017

According to the American Trucking Associations, the trucking industry is currently short around 48,000 drivers with that number expected to surge to 890,000 by 2025. 1This increase will be gradual, however, there will be a noticeable tightening by mid-year 2017, FTR Associates predicts.

Shippers/Carriers Hit Hard by Chargebacks

 Shippers/Carriers Hit Hard by Chargebacks

Vendor chargebacks can be costly, with shippers and carriers being hit hard with financial deductions on their invoice for a number of violations.  Common chargebacks include late/early shipment arrivals, paperwork errors, invalid advance ship notices (ASNs), utilizing the wrong carrier, incorrect packaging/labeling, shortages, damage…the list goes on.  Examples of penalties from one such vendor include 10% off the total shipment invoice for late arrival, $195 for each incorrect bill of lading, $10 per carton for an invalid ASN, and $5 for each incorrect label.1

Customer Retention Suffers as Drivers Lack Quality/Skill

 Customer Retention Suffers as Drivers Lack Quality/Skill

Drivers are said to be one of (if not the most) important asset for trucking companies.  Not only are they responsible for the successful and safe transportation of products, but overall act as brand ambassadors for their company, often spending more time with customers than traditional salesmen.  The impression they leave behind plays a large role in customer retention as a negative experience can lead to lost future sales while a pleasant and memorable experience can cause a shipper/consignee to want to increase their business together.  Knowing this, it comes to question as to why many carriers would hire less than qualified drivers to represent their company.  Perhaps to fill capacity restraints?  Or maybe because they do not have to pay them as much as they would an experienced/skilled driver?  Whatever the case, industry experts agree that the quality of drivers is decreasing.

The Next Generation In Cab Trucking Technology

 The Next Generation In Cab Trucking Technology

Technology is changing every day and the trucking industry is no stranger. With an upcoming final rule mandating the use of electronic logging devices for commercial truck drivers expected to be published September 30th, as well as requirements for speed limiters and electronic stability controls systems, members of the trucking industry are wondering what’s next. We set out to uncover what professionals believe to be the “next generation in cab trucking technology” as well as how Road Scholar Transport is improving our technology this summer. Here is what experts believe is next.

A Dozen Reasons to Choose Road Scholar Transport for Damage-Free Shipping

 A Dozen Reasons to Choose Road Scholar Transport for Damage-Free Shipping

Since 1988, Road Scholar Transport has been solving risk-adverse, investment grade customer’s transportation needs throughout the Mid-Atlantic and New England regions. To us, each of our customers’ freight is as fragile as a carton of eggs, easily damaged if not receiving the care and custody it deserves during transport, which is why we maintain a damage claim record of 0.0004%, one of the lowest in the industry.

Where’s My Freight? Congestion Costs Trucking Over $63 Billion a Year According to ATRI

 Where’s My Freight? Congestion Costs Trucking Over $63 Billion a Year According to ATRI

The American Transportation Research Institute released starting statistics this week regarding the cost of trucks sitting in traffic.

The report, entitled “Cost of Congestion to the Trucking Industry: 2017 Update,” focused on the following 2015 statistics:

 

Trucks Increasingly Used as Weapons, TSA Warns Of Possible Terrorist Attacks

 	 Trucks Increasingly Used as Weapons, TSA Warns Of Possible Terrorist Attacks

The Transportation Security Administration (TSA) released a six-page report last week urging carriers to be on guard for terrorists hijacking trucks and driving them into crowds, creating weapons of mass destruction.

New Survey on Detention Released

New Survey on Detention Released

DAT Solutions recently released the results of a survey they conducted focused on the issue of driver detention at shipper and consignee docks.  The survey composed of input from 257 carriers and 50 brokers.  Here were their findings: