Current events in United States trade policy have once again thrown the global supply chain into turmoil as President Donald Trump’s moves to impose and then partially suspend some tariffs have resulted in significant disruption and uncertainty for many businesses operating in North America. According to Freightos Baltic index, that unsettling feeling has extended to ocean container rates, already in the midst of the traditional early-year lull.
According to a report by factoring service altLine, a dire shortage of an estimated 24,000 truck drivers is leaving many trucks empty, costing the freight industry $95.5 million every week. According to the report, “the industry could generate $47.4 billion in annual revenue if all registered trucks were operational.”
Common seasonal decreases in freight combined with the pending threat of tariffs had a negative impact on truck driving jobs in February, with potentially more job losses to come. According to the most recent numbers from the Bureau of Labor Statistics, “nearly 2,000 trucking jobs were eliminated from the economy in February. That continues the trucking industry’s purge of excess drivers following a surge of new motor carriers in the wake of the pandemic. Since January 2023, employment in trucking has decreased in all but five months.” Read more…
An unidentified transportation and logistics company was recently approved to receive $7.5 million in incentives to build a $450 million headquarters in unincorporated Miami-Dade County and add 525 more workers over a seven year span. According to the application submitted by the Beacon Council for a company labeled “Project Hometown,” The company already employs 1,100 in Miami-Dade. Read more…
Lofta is partnering with the Pennsylvania Motor Truck Association (PMTA) to broaden the availability of streamlined at-home sleep apnea testing and treatment for professional truck drivers. Megan Magensky, PTMA director of communications, extolled: “We’re excited to have Lofta supporting the association… their commitment to PMTA shows they are interested in promoting the trucking industry holistically… their platform is focused on prioritizing driver health and safety, which aligns with PMTA’s mission.” read more…
UPS CEO Carol Tomé, in discussing the company’s strategic shift, discusses reducing its over reliance on Amazon while prioritizing profitability and high-growth sectors; she also expounds on “UPS’s focus on small and medium-sized businesses (SMBs), healthcare logistics, and international trade, alongside a $1 billion cost-saving initiative.”
Read more…
246 professional truck drivers are being lauded by XPO for achieving million-mile safe driving milestones in 2024. CEO Mario Harik exclaims: “I want to congratulate our 246 drivers who reached one million or more consecutive accident-free miles last year… I am grateful for everything they do to serve our customers and keep our roads safe, and I look forward to recognizing many more drivers in the coming year.” Read more…
Conversion Interactive Agency and People. Data. Analytics.(PDA) have released their joint Q4 2024 Driver Recruiting & Retention Data Download Report showing a decrease in truck drivers’ wages. Kelly Walkup, CEO of Conversion, states: “As the freight economy rebounds, driver recruiting is becoming even more competitive… to win in this environment, carriers must embrace technology and tools to improve efficiency and reduce costs while addressing driver needs head-on.”Read more…
America’s leader in contract logistics, DHL Supply Chain, recently announced the acquisition of Inmar Supply Chain Solutions, a division of Inmar Intelligence and a leading returns solutions provider for the retail e-commerce industry. The strategic acquisition will make DHL Supply Chain the largest provider of reverse logistics solutions in all of North America.
Read more…
According to the American Trucking Association, the industry is facing a shortage of 80,000 drivers with a main factor being the relatively high average age of the existing workforce. The Owner-Operator Independent Drivers Association claims that “there isn’t a shortage, but instead a retention issue as more than 400,000 new CDLs are issued in the U.S. every year. Transportation Secretary Pete Buttigieg has previously said that his department estimates that 300,000 drivers exit the career annually.”
Read more…
