The Weekly Freight Report for May 6th, 2021
The Top 6 Stories in Freight
Here’s what’s happening this week:
- Canada legislators force an end to five-day-long Montreal Port strike
- DOT increases the federal fines for regs violations
- Major carrier CEO says rising truckload prices are here to stay
- U.S. agriculture suffering crisis from container shortage
- Chassis shortage leads to increased delays and fees for shippers
- No fleets are compliant with Canada’s upcoming ELD mandate deadline
The hottest stories in freight can be found here, in the Weekly Freight Report:
1. Canada legislators force an end to five-day-long Montreal Port strike
Montreal longshore workers are back to work after a 5 day strike. The strike was brought to an end after legislation was passed and will lay the groundwork for a new multi year labor contract. The port president says “This new turning point lets the Port of Montreal regain stability and the capability to fulfil its strategic role as a public service without long-term interruptions.” It’s expected that the port will be back to normal cargo flow in only a few days. Get the details.
2. DOT increases the federal fines for regs violations
The DOT has increased its fines for regs violations based on inflation… a rule required under the Federal Civil Penalties Inflation Adjustment Improvements Act of 2015. The new fine amounts were published on May 3rd and are effective immediately. You can find the updated fines for violations here.
3. Major carrier CEO says rising truckload prices are here to stay
Are elevated shipping costs here to stay? One carrier CEO says, ‘yes.’ He predicts shippers will face high transportation costs throughout 2021, followed by slightly lower, but still comparatively high transportation costs in 2022. And he says carriers aren’t off the hook either. Insurance costs are up 200%, and getting drivers in seats means raising wages. Shippers and carriers alike, no one is safe from skyrocketing costs. Get the details here.
4. U.S. agriculture suffering crisis from container shortage
“It is not an overstatement to say that the current situation is devastating to all U.S. agricultural exports,” says an Agricultural Transportation Coalition (ATC) executive. The container shortage is making it unaffordable to distribute products to other countries. And if U.S. farmers can’t get it to them, they’ll find someone else you can- risking losing that business for good. Get the full details here.
5. Chassis shortage leads to increased delays and fees for shippers
The shipping bottlenecks continue. Because if port congestion didn’t hold your freight long enough, rail backups certainly will. Record cargo volumes have overwhelmed the chassis supply making it nearly impossible for shippers to retrieve containers from wheeled facilities. At the same time, shippers are holding onto equipment longer- contributing to the chassis shortage. One shipper says ‘it’s a complete mess.’ Get the full update.
6. No fleets are compliant with Canada’s upcoming ELD mandate deadline
Some fleets are ‘mistakenly under the impression that their ELDs are compliant’ as the June 12th Canadian ELD mandate deadline quickly approaches. But really, the problem isn’t with fleets. It’s with third-parties. Currently there isn’t one certified third-party ELD provider and only one-tenth of providers have applied for certification. This means US carriers hauling freight across the border need to start asking their ELD providers some questions to ensure compliance. Get the details.
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