Your Trucker pre-trip: Bloomberg projects trucking prices will continue to climb
Here are five things worth knowing in the world of trucking today, April 4:
1. Trucking prices projected to rise even more
According to a Bloomberg report, a trucking shortage in the U.S. is about to push up freight costs even more. And with ELD enforcement now in full effect, it could be just a matter of time before fed-up commercial drivers park their trucks for good. “The ELD rules add another choke point for freight prices, which are already pinching earnings at companies from Cheerios maker General Mills Inc. to retailer Ross Stores Inc.,” Bloomberg wrote. “A driver shortage, surging demand and rough weather already have pushed spot rates up 28 percent this year through March 23 compared with a year earlier, according to data compiled by Bloomberg.”
2. Otto co-founder leaves Uber
Lior Ron, who co-founded self-driving trucking startup Otto, with Anthony Levandowski before selling the company to Uber, has left the company, Recode reports. According to the report, Ron headed up the business side of Uber’s trucking business, Uber Freight. Ron leaves the company less than two years after Uber acquired Otto. Recode has more.
3. Arizona DOT offers training for border truckers
Today, the Arizona Dept. of Transportation is offering safety training for truck drivers to help make border checks faster, according to a Tucson News Now report. The training is geared toward Mexican truck drivers to help them prepare for border checks and safer driving practices. According to the report, Arizona is the only state in the U.S. to offer this safety training for Mexican truck drivers. Since the safety training started less than a year ago 300 drivers have gone through it, Tucson News Now said.
4. Recruiting, retention remain top challenges for trucking companies
A HireRight survey found that recruiting and retaining workers among trucking companies remains a top challenge, Material Handling & Logistics reports. The survey notes that the four main factors that cause employees to leave a company are: To make more money, to spend more time at home, for better benefits, and because the job was not what they expected. MH&L has more on HireRight’s 2018 Transportation Spotlight survey.
5. Roadrunner realigns business under new leadership
As it overhauls its operations under a new management team, Roadrunner Transportation Systems announced it expects to be up-to-date in its financial reporting by the end of the quarter, The Wall Street Journal reports. Last year, Roadrunner said it would restate earnings from 2014 to 2016 after disclosing accounting problems in the wake of various acquisition. According to The Wall Street Journal, an internal investigation at the company found that “accounting errors and material weaknesses” went back to 2011. The Wall Street Journal has more.
