The Weekly Freight Report for July 8th, 2021
The Top 5 Stories in Freight
Here’s what’s happening this week:
- Shipper tips for navigating a bumpy H2 freight market
- June saw highest one-month gain in employment in seven years
- Mexico trade booms +125% year over year as margins tighten
- Teamsters union and ATA praise INVEST in America infrastructure plan
- Canadian government blocks Quebec port expansion over environmental concerns
The hottest stories in freight can be found here, in the Weekly Freight Report:
1. Shipper tips for navigating a bumpy H2 freight market
Increased rejections… sky-high costs… increased accessorial fees… elevated margins. Seems there are a million hurdles for shippers to navigate in this market. And these challenges aren’t expected to go away as we enter the second half of 2021. But @supplychainbrain says that by tweaking your strategy and operations… you may be able to obtain sustained success. Here are some tips for navigating these top challenges.
2. June saw highest one-month gain in employment in seven years
It’s good news for trucking… June saw the highest one-month gain in employment in seven years. What it means is the overall number of drivers back on the roads is back to pre-COVID levels. But is it enough to fill the seats carriers need as volumes thrive? Maybe not… the data also shows that more drivers are applying for LTL roles as opposed to OTR. Get the details here.
3. Mexico trade booms +125% year over year as margins tighten
US-Mexico cross-border trade is booming. Up 125% year over year, volume keeps rising. But due to increasing cost, margins are also beginning to tighten. Demand continues to rise… and with spot rates 22% higher than they were a year ago, transportation providers with contracted freight are seeing less drastic of an impact. Get the details here.
4. Teamsters union and ATA praise INVEST in America infrasturcture plan
If you follow transportation news… you know all too well that the Teamsters labor union and American Trucking Association (ATA) hardly agree on matters of freight and transportation policy. But this week, the two organizations unanimously praised Congress’ vote to pass the $715B INVEST in America Act. Read up on all the bill has to offer as it hits the doors of the U.S. Senate.
5. Canadian government blocks Quebec port expansion over environmental concerns
The Port Of Quebec scrapped its plan to build a C$775M container terminal after the Canadian government blocked the project over environmental concerns. The plan would have provided US shippers a routing alternative while allowing Eastern Canada to handle larger vessels. The Minister of Environment and Climate Change stated, “This was a difficult decision – but the right one as we look to grow the economy and protect the environment for future generations.” Read up on the full story here.
Need help moving freight across North America? FLS can help. Our network of 54,000 carriers and 400,000 trucks is a great asset to any shipper… and our service levels are impeccable. Give us a try… Get a quote today!