The Weekly Freight Report for June 25, 2020
The Top 10 Stories in Freight
Tender rejections jump… Digital freight changes the game… e-commerce booms… NAFTA 2.0 causes confusion… and trucking makes a comeback. Get caught up on the top stories with The Weekly Freight Report:
1. Strong Volume Pushes Tender Rejections Increase
It’s been the same story for weeks… volume increases and capacity is plentiful. But it seems that narrative’s coming to an end. Tender rejections are on the rise. And it’s starting to put the heat on rates. Capacity is getting pinched. Get the full report.
2. Technology’s Changing the Shipper, Carrier, Trucker Equation
No question digital freight brokerages have received a lot of attention the last few years. But have digital brokerages delivered the holy grail? The end game for carriers was to reduce empty miles. And in this new digital era some shippers are reporting increased tender acceptance, higher on-time performance, and lower costs… but it seems the jury is still out. Logistics Viewpoint recently covered the hope and challenges of digital freight and discusses the buy vs. build scenarios… It’s a great look at what’s happening on the cutting edge of the North American freight market… Check it out.
3. New Trade Rules Create Hurdles for Cross-Border Shippers
In just two weeks the USMCA-CUSMA-TMEC trade agreement will supersede NAFTA. And if you’re a shipper who’s nervous about it… you’re not alone. The new agreement comes with several changes that have shippers worried. Do shippers have adequate time to prepare and comply with the changes? Only time will tell. Read up on all the USMCA-CUSMA-TMEC concerns here.
4. Carrier Diversity is Now Essential for Shippers
Volumes continue to peak… and shippers continue to face increasing challenges. Some say volume levels will be like Black Friday… until Black Friday. That’s right… it’s going to be peak season all year long. And with no end in sight, experts chime in on how carrier diversification and flexibly will help shippers adapt to the “new normal”. Check it out.
5. Export Plants Reopen Along the Border
It’s good news for cross-border freight. Mexico has hundreds of manufacturing plants along the U.S. – Mexico border reopening. It’s putting people back to work… and getting trucks moving over the border again. Check out which plant locations are getting up and running.
6. Shippers Struggle to Prepare for USMCA-CUSMA-TMEC
The new North American trade agreement, USMCA-CUSMA-TMEC, goes into effect on July 1st. And cross-border shippers are feeling the pressure. New compliance and documentation is a lot to navigate while the supply chain is already facing severe disruption. And while experts say the new agreement will be beneficial in the long-term… there will be a learning curve for everyone. Use these tips to get ahead of NAFTA 2.0 and make a smoother transition.
7. FMCSA Says New HOS Rule Delay Unlikely
A new bill is under review with the U.S. house… and it has the transportation industry worried. Why? Because this bill could delay the new HOS rules set to go into place Sept 29th. But FMCSA officials have a positive outlook… indicating they don’t anticipate any delays will take place. The perspective is encouraging, but nothing is for certain… Read up on the controversy.
8. Never Search for an Invoice, BOL or Receipt Again
Digital freight platforms are finally delivering the flexibility, transparency and control shippers need. A new breed of tech delivers freight management that’s online and at your fingertips. Check it out!
9. E-commerce Drives Need for Increased Warehouse Space
Recent months have proven the value of e-commerce. Today, U.S. e-commerce spending up 98% year over year… and experts only expect that to increase. The problem? E-commerce requires 3x the logistics space of a traditional storefront. It’s looking like a good time to be in industrial real-estate… check out why.
10. New Reports Show Trucking is Making a Comeback
New reports say U.S. commercial driving activity is back to normal… and trucking is making one of the fastest recoveries of any industry. Demand for consumer goods and on-going construction play a big part in the come-back. And with demand not slowing down, the future of trucking recovery is looking bright. Check out the full report .
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!