On September 9, 2021, the French container shipping giant CMA CGM announced an extraordinary move for a profit-driven enterprise with publicly traded bonds: it suspended all rate hikes until February 1, 2022. The company decided to "prioritize its long-term customer relationships in the face of an unusual circumstance in the...
The market shift motivates owner-operators to collaborate with larger fleets.
For good reason, owner-operators and small carriers are renowned as the trucking industry's lifeblood. They account for a sizable share of the freight business, and the industry would be severely hampered without them. According to the Federal Motor Carrier Safety Administration, there were 502,626 "very small" registered fleets - businesses...
In May, trucking jobs increased to an ‘extremely high level.’
Trucking CEOs may grumble loudly about how difficult it is to hire new employees, but it is being done. According to the Bureau of Labor Statistics' employment report released on Friday, June 3rd, the truck transportation sector added a double-digit number of seasonally adjusted positions in May for the third...