Selected COVID-19 and trucking industry news that may impact your business.
As of July 21, 2020:
FMCSA extends HOS emergency declaration until Aug. 14
The Federal Motor Carrier Safety Administration (FMCSA) is continuing the extension of Emergency Declaration No. 2020-002, which gives commercial motor vehicle drivers responding to COVID-19 relief from hours of service regulations. This extension continues the exemption granted from Parts 390 through 399 of the Federal Motor Carrier Safety Regulations (FMCSRs) through Aug. 14. Read More
Volumes stay strong, up 25% year-over-year in a recession
As expected, freight volumes have roared out of the Independence Day disruption and currently sit at 12,592. The Outbound Tender Volume Index (OTVI) remains up 25% year-over-year, hardly falling from its pre-July Fourth peak. July of last year (2019) exhibited typical freight seasonality, so yearly comparisons are relatively easy. 2018 was a banner year for freight volumes and yet, currently freight volumes are 23% higher than 2018. Read More
Trailer Makers Anticipate Rebound After Fleets Recover From Pandemic
The trailer industry — already on the downside of the economic cycle prior to the COVID-19 outbreak — was forced to make further production cuts and alter manufacturing processes as the pandemic took hold.
But if history repeats itself, the industry could be headed for a long upturn when the economy rebounds, said Sean Kenney, chief sales officer for Hyundai Translead. Read More
When the free market and a pandemic collide: Is more oversight needed of trucking rates?
Freight rates began to plummet in March following state-issued lockdown orders aimed at containing the spread of the novel coronavirus, and the downward trend continued through April to hit a five-year low before rebounding in May. During the COVID-19 crisis, the volatility of rates have raised questions about the need for greater transparency into the costs and margins of freight transactions, particularly for logistics service providers or 3PLs. Read More
Free hand sanitizer restocked around the country
As part of its #ThankATrucker campaign, the American Trucking Associations has restocked 55-gallon drums of hand sanitizer at several locations around the country, where truck drivers can refill their personal supplies at no cost. Read More
COVID-19 Continues to Damage Business at Nation’s Ports on Both Coasts
The COVID-19 pandemic and Trump administration trade policies with China will result in at least a 15% drop in cargo this year at the Port of Los Angeles, the nation’s busiest seaport. Nearby Port of Long Beach, the nation’s No. 2 port, logged an 11.1% drop in container volume in June, processing 602,180 TEUs compared with 677,167 in June last year. Read More