Operating Costs

What’s behind rising insurance costs?

When carriers think of operational costs, what comes to mind is typically driver wages and benefits, fuel costs, repairs and lease payments. Trucking insurance costs, however, have crept higher over the better part of the last decade and are a growing, yet controllable, expense for carriers. 

According to the American Transportation Research Institute’s (ATRI) Operational Cost of Trucking report, truck insurance premiums have risen from 6.4 cents per mile in 2013 to 8.8 cents per mile in...

https://www.freightwaves.com/news/whats-behind-rising-insurance-costs

Amid high costs, carriers can find ways to do more with less

Carriers find themselves in a hard place: The operating costs are increasing as the market for their services diminishes.

With rising fuel costs sinking truckload spot rates, carriers are seeing their margins disappear before their eyes. In fact, gaining an advantage in any aspect seems nearly impossible. In the market to buy a truck? Think again.

In July 2020, $54,000 would buy you a 3-year-old used truck, but not anymore. You’ll now have to fork over $140,000 today, according to ACT Research. 

https://www.freightwaves.com/news/amid-high-costs-carriers-can-find-ways-to-do-more-with-less

A.P. Moller-Maersk Records Profit in Q2 Amid COVID-19

  • A.P. Moller-Maersk may generate $1.5 billion more in operating profit this year.
  • Soren Skou expects container volumes to be back at 2019 levels by the beginning of next year.
  • Shares in the company soared as much as 7.4% when trading started in Copenhagen.
  • Maersk managed to cut operating costs by 16% in the second quarter.
  • There was a 4.5% rise in freight rates, more than offset a 16% drop in volumes.
  • Maersk’s results suggest that the container shipping industry may be entering a positive cycle.

https://mfame.guru/a-p-moller-maersk-records-profit-in-q2-amid-covid-19/

Breaking News: Navistar plans autonomous semi in 2024

Navistar TuSimple driverless semi

Navistar is partnering with self-driving technology startup TuSimple to shave up to five years off the timeline for autonomous semis. It is targeting 2024 to sell International-branded driverless trucks.  

Navistar International Corp. (NYSE: NAV) took an undisclosed minority stake in startup TuSimple, whose valuation exceeds $1 billion.

The 2024 driverless target date vaults Navistar into the lead among manufacturers working on self-driving trucks. Daimler Trucks North America bought Torc...

https://www.freightwaves.com/news/breaking-news-navistar-plans-autonomous-semi-in-2024

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