Selected COVID-19 and trucking industry news that may impact your business.
As of May 15, 2020:
How Fleets Can Mitigate Impact of Coronavirus
Transport Topics
FTR does not expect the economy to recover to pre-crisis freight volumes until the middle of next year.
“While we would be the first to concede that we cannot be sure of this forecast, trucking companies would be best served by taking a conservative approach and not counting on robust rates later in the year,” Vise said. Read More
Cybersecurity 101: The crisis amidst the crisis — truckers remain vulnerable targets for cyber attacks amid pandemic
Overdrive
With the economy crashing due to the ongoing health emergency, cyber attacks have spiked, exploiting the confusion and desperation caused by the crisis. Also, companies are working remotely and IT departments are not in the position to respond quickly in case of security threats. Read More
Truck Stops Providing Essential Services to Truckers, Navigating the Downturn
Transport Topics
While drivers are facing challenges amid the crisis, so, too are the businesses that provide them respite along the nation’s highways. As in most sectors of the economy, business is down. But truck stops are working to ensure drivers have the essentials they need. Read More
Trailer orders drop more than 90% in April, hit 30-year low
CCJ
Preliminary net trailer orders for April were a paltry 300 units, according to FTR – the lowest level on record dating back 30 years. Order totals last month were down 95% month-over-month and 98% year-over-year. Read More
Prioritize mitigating credit risk, especially during economic uncertainty
FreightWaves
Freight brokers and commercial fleets process hundreds if not thousands of shipments daily. In an industry characterized by a huge amount of transactions, risk must consistently be weighed against reward. While most transportation companies diligently assess the profitability of each load before inking the deal, even the most thorough risk management practices cannot mitigate each and every risk. Read More
Depressed used truck prices fall lower in April
FreightWaves
Prices for Class 8 used trucks continued to fall in April, though some improvement in auction activity gave hope the bottom of the market is near. Read More
Coronavirus to Slow U.S. Meat Production for Months, CEO Says
Wall Street Journal
The coronavirus will likely hamper U.S. meat production for months, as new safety measures and reduced staffing slow plant operations, said the head of the biggest U.S. beef producer. Read More
Coronavirus pummels U.S. retail sales, industrial production
Reuters
U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression. Read More
Tech Tip: Disinfecting Aerial Devices and Digger Derricks
Work Truck
The need for frequent and thorough disinfecting of work trucks like aerial devices and digger derricks is a new task for service managers. In response to questions from customers, Terex Utilities has released Tech Tip #140 to provide a reminder of the many surfaces on a piece of equipment that may have been touched by crew members. Read More