Transportation TIP List: Week of July 22nd, 2018
The “dog days of summer” are in full force, and this week’s TIP List is bringing you all of the current sizzling supply chain trends – including the impact of a new mandate recently implemented in Mexico and the nationwide 2017 cargo theft stats. Dive in below for all of the hot industry news!
- Mexican Truck Capacity Concern Ticks Up Over Tractor Trailer Rule: A mandate from the Mexican government intended to reduce accidents by requiring all double tractor trailers meet new certification requirements could spark higher rates. The rule will reduce available capacity and may spur shippers to move cargo by more expensive single-trailer trucks or convert to rail.
- The Changing Face of Cargo Theft: According to security consultant CargoNet, nationwide incidents of cargo theft last year declined 17% from 2016 levels. Yet, there were still more than 700 reported incidents last year involving $89 million of stolen goods.
- June Truckload and Intermodal Pricing Remains Strong: Trucking and intermodal pricing levels continue to reap the benefits of a very strong freight environment. Truckload rates, which measure line haul rates, headed up 9.5% in June to 134.7, which is the largest annual gain to date in 2018.
- Reimagining Trucking: The nation’s largest for-hire carriers are embracing new technologies and doing more to foster innovation. The result will be an industry that is much more automated and less defined by assets – and a more rewarding place to work.
- U.S. Shippers Guarantee Volume to Secure Truck Capacity: Shippers facing double-digit rate increases in an unprecedented tight trucking market are increasingly willing to consider shorter-term contracts and volume guarantees to secure needed capacity and (hopefully) some measure of control over runaway transportation costs.
What are some of the hottest industry trends catching your eye this week?