Owner-operators

Stability, consistency are just what owner-operators need

There wasn’t much to smile about in 2020 as uncertainty gripped supply chains, but the spot market had owner-operators grinning. For many months, the going was good. Spot rates soared above contract rates, giving smaller fleets the chance to maximize profitability on every trip. 

But the tide has swiftly turned.

SONAR: NTIL.USA and VCRPM1.USA.

Spot and contract rates, neck and neck for the past two years, have trended apart. The tango finally ended in late February, as FreightWaves SONAR shows...

https://www.freightwaves.com/news/stability-consistency-are-just-what-owner-operators-need

Owner-operators find solace in contractor roles as market turns

Owner-operators are often characterized by their rugged independence. These skilled and experienced professionals provide their own equipment, set their own rates, and make their own rules. Owner-operators who are wary of the changing market can align with larger carriers as contractors, allowing them to keep their trucks and still preserve control of their businesses.

“Owner-operators and fleet owners should be encouraged not to give up on their business” Marcus Schneider, CRST’s director of...

https://www.freightwaves.com/news/owner-operators-find-solace-in-contractor-roles-as-market-turns

Protesting owner-operators in Houston want higher rates, better communication

About 80 owner-operators in Houston have been on strike since Monday, demanding higher freight rates and better communication from their employer, Hudd Transportation.

One of the protesters told FreightWaves they are mainly asking for a 20% freight rate increase, but management offered them only 8%. The striking owner-operators work as drayage drivers for Hudd Transportation’s terminal near Port Houston.

“We’re not getting paid fairly so on Monday about 75 to 80 of us got together and went up to...

https://www.freightwaves.com/news/protesting-owner-operators-in-houston-want-higher-rates-better-communication

Loaded and Rolling: Owner-operator survey data; MC number cancellation data

Loaded and Rolling Cover ImageFreightWaves owner-operator survey data
(Source: FreightWaves Research — June 2022)

FreightWaves recently conducted a survey of owner-operators outlining business issues and outlooks on profitability in 2022 compared to the previous year. The survey included 76 owner-operators and a majority of those polled, about 70%, hauled dry van trailers. 

What stood out most in the data was the reported worsening conditions facing owner-operators. Just over 35% of those surveyed indicated the lowest...

https://www.freightwaves.com/news/loaded-and-rolling-owner-operator-survey-data-mc-number-cancellation-data

Loaded and Rolling: Owner-operator migration; net revocations of trucking authority rise

Loaded and Rolling Cover ImageOwner-operators appear to migrate to large trucking companies
(Photo: Jim Allen/FreightWaves)

A common theme during the downward swing in the cyclical freight market cycle is the movement of owner-operators in and out of large fleets. This behavior typically follows spot market rates, and when rates are high, owner-operators will leave the safety of large fleets to chase spot market rates, and when rates collapse, they will return to large fleets for more predictable freight volumes and...

https://www.freightwaves.com/news/loaded-and-rolling-owner-operator-migration-net-revocations-of-trucking-authority-rise

Truckers plan LA/Long Beach work stoppage Wednesday to protest AB5

Some California truckers who move containers in and out of the marine terminals at the ports of Los Angeles and Long Beach say they plan to participate in a work stoppage Wednesday to protest a controversial state law, AB5, that seeks to limit the use of independent contractors and largely classify them as employee drivers.

On June 28, the U.S. Supreme Court refused to hear the California Trucking Association’s challenge to AB5, returning the case to the 9th U.S. Circuit Court of Appeals. 

One...

https://www.freightwaves.com/news/truckers-plan-lalong-beach-work-stoppage-wednesday-to-protest-ab5

FreightWaves Classics: Acme Truck Line has hauled freight for over 60 years

An Acme yard at night. (Photo: Acme Facebook page)

History

Acme Truck Line, Inc. is an industry leader with a fleet of more than 1,500 trucks, more than 40 service points, and nationwide and Canadian operating authorities. 

The Acme of 2022 is a nationwide operation headquartered in Gretna, Louisiana. According to the company’s website, its success is due to its pledge – “Serve our customers by keeping their freight moving safely and on time with the best and most highly trained employees in our industry.”

(Image: Acme Facebook page)(Image: Acme Facebook page)

But Acme’s...

https://www.freightwaves.com/news/freightwaves-classics-acme-truck-line-has-hauled-freight-for-over-60-years

CloudTrucks launches new fintech offering — CT Credit

Trucking business management solutions provider CloudTrucks has launched its new fintech solution, CT Credit, a Visa business card that avoids high interest rates and fees and connects users to CloudTrucks’ business management solution to help oversee carrier expenses.

After the company was founded 2019, CloudTrucks made its management solutions available to owner-operators through three programs: Virtual Carrier, the company’s leasing program, Flex, which gives owner-operators access to...

https://www.freightwaves.com/news/cloudtrucks-launches-new-fintech-offering-ct-credit

Lease purchasing opportunities to assist prospective owner-operators

Today’s market poses many challenges to truck drivers and trucking companies alike. Along with the infamous driver and labor shortage, drivers and carriers have to deal with inflation in the form of skyrocketing fuel, insurance and overall equipment costs — not to mention labor costs and availability. Moreover, many drivers whose trucks need repairs face long wait times just to have their vehicles looked at, resulting in significant downtime and loss of revenue. 

PGT Trucking, Inc. has a proven...

https://www.freightwaves.com/news/lease-purchasing-opportunities-to-assist-prospective-owner-operators

Hammer to fall: Used truck auction prices dropping quickly

three used trucks at a Ritchie Bros. auction in Houston

Auction prices are falling almost as quickly as they rose over the last year. That is leaving owner-operators stuck with overpriced equipment they thought they could pay for in a hot spot freight market that is cooling off. 

“The market is primarily absorbing trucks from fleets no longer retaining all of their older iron as new trucks trickle in and, to an extent, from owner-operators leaving the industry or going to work for a fleet,” said Chris Visser, senior analyst and commercial vehicles...

https://www.freightwaves.com/news/used-truck-auction-prices-falling-fast

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