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Check Call: Q1 earnings did most carriers no favors

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It’s earnings season, which means it’s time to see how the competition stacked up.

Starting off earnings season was none other than J.B. Hunt’s brokerage unit reporting a $17.5 million operating loss as loads declined 22% year over year, with revenue per load down just 5%. The main reason for the loss was higher insurance expenses and integration costs from the acquisition of BNSF Logistics. The company overall reported earnings per share of $1.22 instead of the $1.50 target,...

https://www.freightwaves.com/news/check-call-q1-earnings-did-most-carriers-no-favors

Strong post-accident procedures help keep insurance costs in check

Motor carriers have three major vehicle-based expenses: vehicles and maintenance, fuel and insurance. A carrier cannot run without covering all three. Unfortunately, freight rates haven’t risen at the same rate as costs. Insurance rates have increased by over 50% in the past decade.

According to the American Transportation Research Institute’s Operational Cost of Trucking report, truck insurance premiums in 2022, the last year of published data, have risen 2.3% since 2021. That increase...

https://www.freightwaves.com/news/strong-post-accident-procedures-help-keep-insurance-costs-in-check

Distracted Driving Awareness Month: How drivers and carriers can be safer

Each year, around 3,000 people in the U.S. die from distracted driving incidents, accounting for close to 10% of all motor vehicle fatalities. Overall, car crashes are the leading cause of death in the U.S. for people ages 1 to 54. For Distracted Driving Awareness Month, FreightWaves’ Timothy Dooner spoke to Chris Hayes, Assistant Vice President for Workers’ Compensation and Transportation at Travelers Risk Control. Hayes said that drivers and businesses alike are growing more concerned with...

https://www.freightwaves.com/news/distracted-driving-awareness-month-how-drivers-and-carriers-can-be-safer

Controlling back office costs helps offset compressed broker margins

The ongoing freight recession has now plagued the market for longer than the COVID boom, but high-frequency data from FreightWaves SONAR suggests it might be coming to an end sooner rather than later. Brokers, however, should not expect a market turn to completely alleviate the downward pressure on their gross margin.

While the freight recession has had a negative impact on both brokers’ margins, and carrier linehauls, an explosion of automation and technology, along with an unprecedented number...

https://www.freightwaves.com/news/controlling-back-office-costs-helps-offset-compressed-broker-margins

New payment option emerges for companies doing business in Mexico

Mexico eclipsed Canada and China to become the top U.S. trading partner in 2023. This shift came amidst the ongoing push toward nearshoring and friendshoring efforts in the manufacturing sector. This trend suggests that last year’s boom is just the beginning of the growing partnership between Mexico and the U.S.

U.S. trade with Mexico totaled over $855 billion in 2023 – including $362 billion in exports and $493 billion in imports, according to the United States Trade Representative. This level...

https://www.freightwaves.com/news/new-payment-option-emerges-for-companies-doing-business-in-mexico

Where diesel tech and driver recruitment meet – Taking the Hire Road

While carriers continue to prioritize recruiting and retaining well-qualified truck drivers, finding and retaining diesel technicians is an increasingly important concern today. 

Leah Shaver sat down with Amanda Schuier, strategic maintenance director at Jetco Delivery, to discuss the similarities and differences between recruiting and retaining truck drivers and diesel technicians. 

Engagement is Schuier’s priority in her roles at both the American Trucking Associations and Jetco. “Encouraging...

https://www.freightwaves.com/news/where-diesel-tech-and-driver-recruitment-meet-taking-the-hire-road

Shippers move LTL freight to full truckload

Shippers move LTL freight to full truckload
(Photo: Jim Allen/FreightWaves)

The ongoing freight recession is having a multimodal spillover effect as shippers look for creative ways to save costs. Excess supply of trucking capacity remains the 18-wheeled elephant in the room, to such an extent that we see instances in which LTL is losing share to full truckload due to lower costs. Typically full truckload can compete with rail and intermodal when rates are lower, but recent Q1 earnings commentary...

https://www.freightwaves.com/news/shippers-move-ltl-freight-to-full-truckload

CVSA International Roadcheck just around the corner

Every year the Commercial Vehicle Safety Alliance conducts International Roadcheck. This year, it’s scheduled for May 14-16 across Canada and Mexico as well as the U.S. The program typically has one main focus each year in addition to making sure vehicles are roadworthy. But this year, the CVSA has chosen two focus areas, in addition to a normal inspection: tractor protection systems and alcohol and controlled substances.

On this episode of WHAT THE TRUCK?!?, Mark Barlar, director of DOT...

https://www.freightwaves.com/news/cvsa-international-roadcheck-just-around-the-corner

Check Call: Hope for a ban on noncompetes heads to court

In this edition: The dream that may or may not come true under the FTC’s new rule, and TFI International wants heavier freight. 

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Last Tuesday, the Federal Trade Commission dropped the mother of all rules. The agency banned noncompetes. The ban was going to remove any existing noncompete and bar new ones provided that employee wasn’t a senior executive or higher. The rule was to go into effect 120 days after it was published in the Federal Register, which normally takes about three...

https://www.freightwaves.com/news/check-call-hope-for-a-ban-on-noncompetes-heads-to-court

Shippers leveraging Shared Truckload in 2023 avoided 46,700 metric tons of carbon emissions

People around the globe — from government leaders to everyday consumers — have become increasingly aware of the negative impacts of climate change over the past several years. This growing awareness has created consumer concern and sparked a wave of eco-conscious regulation, prompting shippers to demonstrate their commitment to sustainability and reduce their carbon footprint.

When shippers decide to clean up their supply chains, they should consider starting with their transportation...

https://www.freightwaves.com/news/shippers-leveraging-shared-truckload-in-2023-avoided-46700-metric-tons-of-carbon-emissions

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