The Weekly Freight Report for June 24th, 2021
The Top 5 Stories in Freight
Here’s what’s happening this week:
- Latest AB5 Ruling is more bad news for Cali trucking industry
- Prime Day deals disappoint as costs surge
- The consumer spending surge isn’t quite going as planned
- ATA launches program to educate high school students about a profession in driving
- The FMC voices support for auditing ocean carriers detention and demurrage fees
The hottest stories in freight can be found here, in the Weekly Freight Report:
1. Latest AB5 Ruling is more bad news for Cali trucking industry
If you’ve been following California’s AB5 impact on trucking… you already knew it wasn’t going in favor of carriers and owner-operators. But it just took a turn for the worse. A decision by a federal appeals court yesterday could allow the state to enforce its independent contractor law over the trucking industry as soon as one week. But California’s Trucking Association isn’t going down without a fight… get the full update here.
2. Prime Day deals disappoint as costs surge
Shipper’s challenges continue… Rising shipping costs… higher advertising rates… and scare inventory. It’s not a good combination for customers hoping to capitalize on Amazon’s annual Prime Day sales. This year’s Prime event is disappointing to shoppers and merchants alike. Here’s why.
3. The consumer spending surge isn’t quite going as planned
The narrative has been that once a vaccine is out, spending will take a dramatic shift from goods to experiences. But the data is showing that simply isn’t the case. Container imports remain at peak volumes… and now they’re saying it could prevail until 2022… Get the full story.
4. US trucking contributes to rising fuel demand
US oil consumption is roaring back as the economy turns back on. And with over-the-road truckload demand at unprecedented levels, it’s only adding to the rising diesel prices. The surge is expected to continue into 2022… the problem is, diesel stockpiles are running low. Get the full story here.
5. Today’s chaos to usher in a surge of investment and tech
In a time where the market is being stretched to its limits, it’s difficult to see the silver linings. But Freightwave’s very own Craig Fuller frames it up positively. He explains that chaotic times are going to lead to a more resilient future for supply chains. People’s increasing interest in our space is actually a gift… and we’re already receiving it in increased investments and digital transformation. Need a little positivity? Check out his full note 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!