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Woman’s career in trucking

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Evelyn Vincenzo kicked off her driving woman’s career in 1987. Whenever she can, she encourages women to seriously consider a woman’s career in trucking. At age 64, Evelyn Vincenzo is a Westfield, Massachusetts-based warehouse CDL shuttle driver, who brings freight warehoused at A. Duie Pyle facilities to customer accounts in various locations throughout New England. In 1987, Vincenzo sought a career in trucking.

Woman’s career

The trucking industry and truck driving provided a monetary incentive over the career path she had chosen out. “From the time I was a truck driver’s daughter, caught up in the mystery of the big truck parked outside my window, purring with the sound of the refrigerated unit running, I knew I wanted to drive.Read More

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Freight cycle

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Forecast by ACT Research and other reports from DAT Freight & Analytics and FTR Transportation Intelligence still show slow markets, but an upside might be around the corner. A new outlook from ACT Research plus various recent reports on the spot and contract markets paint a picture of freight-hauling still in a down cycle that nevertheless stands a chance of recovering soon.

Spot rates rose in May, but strong new equipment production will slow the ascent initially. Class 8 backlogs are sufficient for a while but are starting to dwindle as order activity has declined with industry profitability. That spot rates have largely held onto the gains when inspections and out-of-service citations took freight-carrying capacity off the roads] suggests the freight market is close to the elusive balance, but the rebalancing so far has been mainly on the labor side.Read More

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Fleet operations

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A Samsara survey of physical operations leaders from fleets  sustainable marketplace. Fleet technology company  has released a report indicating that corporations worldwide are preparing for a major shift in the workplace. Despite historically high fuel prices and inflation, and 42% of respondents being concerned about a recession. Fleet managers and drivers who use AI-enabled dashcams may understand the potential the technology has to coach employees. Using the tool to identify trends and driver habits that can negatively impact safety.

In many of the conversations about the move to electric vehicles, the subjects of collaboration and cooperation come up. Those entities working to speed the adoption of electric vehicles say it will take a joint effort between fleets, utilities, charger manufacturers, government agencies, and more.

I suspect they are correct in their assessment. But the reality is collaboration should be a core value of everyone involved in the trucking industry. It should also be critical to how we operate inside our own businesses. Some problems we face are best solved by pooling resources from across the industry.

And I think the trucking industry has a history of working together to solve really tough problems. Many companies already seem to see the writing on the wall asemissions regulations tighten, with most businesses already incorporating electric vehicles into their fleets, and most planning to monetize a coming market that could reward those organizations with sustainability on mind.

BULTRANS
YOUR LOCAL RELIABLE CHOICE FOR YOUR FREIGHT SHIPPING NEEDS

WE UNDERSTAND HOW IMPORTANT RELIABILITY, AFFORDABILITY AND ACCURACY ARE WHEN IT COMES TO SHIPPING YOUR FREIGHT.
Our professional logistics team has proven track record of providing exactly that.
By choosing BULTRANS you ensure you have a truck showing up on time with professional and safe driver behind the wheel who will deliver you cargo anywhere in the country.
Do not hesitate to reach us via email: contact@bultransllc.com or feel free to call us at: (281)688-4266

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Operating authorities

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Small operators have borne the brunt in 2023, and analysts blame bad spot rates and pricey fuel, but the losses have leaked to larger fleets of 100 trucks or more. However, this hasn’t yet put much of a dent in the huge 2020-2022 carrier surge. The tumbling freight spot market and historically high fuel prices are teaming up to push more small fleets. Watching “revocations” of operating authorities with the Federal Motor Carrier Safety Administration indicates how volatile the trucking business has been since COVID-19 transformed the industry.Read More

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Wabash set higher bars

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Wabash set higher bars across the board in Q4. They have revenue of $657.4 million. Operating income of $57.7 million with operating margin of 8.8%. Earnings per diluted share of 84 cents.
Record backlog of $3.4 billion, up 46% compared to Q3 and 34% above December 2021. For the full year of 2022, revenue totaled $2.5 billion with operating income of $166.6 million, or 6.7% of sales. Both were records.Read More

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Inflation affecting trucking.

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Slowing inflation means the Federal Reserve will slow down its pace of interest rate increases that it implemented to slow the overheated economy. A little over a year ago, the narrative from policy makers was that inflation was “transitory” and nothing to be so concerned about. Then supply chain issues deteriorated, a war broke out in Eastern Europe, and labor supply became problematic.  The investor community believes that we are within a half point to three quarters of a point of the peak in rates, and that peak may come within the next six months. The focus of the Fed is more on defeating inflation than maintaining a healthy short-term economy, so in our view, the Fed is less likely to blink and lower rates quickly when greater economic weakness is present.

That means rate increases will continue until the Fed believes that inflation has not only peaked. While spot rates pulled back aggressively over the summer, they seem to have leveled out by year-end and are exhibiting more regular seasonality. Contract rates were up by high single digits at the end of the third quarter but could be flat-to-negative when we see results from the fourth quarter. Fourth-quarter freight was underwhelming, largely as companies worked to correct too-large inventories. While spot rates pulled back aggressively over the summer, they seem to have leveled out by year-end and are exhibiting more regular seasonality. Contract rates were up by high single digits at the end of the third quarter but could be flat-to-negative when we see results from the fourth quarter. Contract rates will spend much of 2023 resetting downward (albeit less so).

BULTRANS
YOUR LOCAL RELIABLE CHOICE FOR YOUR FREIGHT SHIPPING NEEDS

WE UNDERSTAND HOW IMPORTANT RELIABILITY, AFFORDABILITY AND ACCURACY ARE WHEN IT COMES TO SHIPPING YOUR FREIGHT.
Our professional logistics team has proven track record of providing exactly that.
By choosing BULTRANS you ensure you have a truck showing up on time with professional and safe driver behind the wheel who will deliver you cargo anywhere in the country.
Do not hesitate to reach us via email: contact@bultransllc.com or feel free to call us at: (281)688-4266

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Trucking industry

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Although forecasts say the first quarter of 2023 will be particularly tough for the trucking industry. Trucking industry remains the most relied-upon freight transport mode in the U.S. High fuel and equipment prices, labor concerns, shipping rates, inflation, talks of a recession, and other economic factors have followed trucking into what is a historically quiet season for imports and consumer demand at the start of a new year. Because of these lingering headwinds, for the first quarter, carriers are likely concerned about a decrease in rates due to an oversupply of capacity built up from 2021.

The market, however, is cyclical, and trucking remains the most relied-upon freight transport mode in the U.S., with trucks moving some 12.5 billion tons of freight valued at more than $13.1 trillion.

The annual trucking industry statistics report tells commercial trucking companies what they’ve been experiencing for nearly two years now. In 2021, the costs for rail, truck, and water transportation services reached their all-time high level, suggesting an increase in the costs businesses face for providing these services. Inflation remained persistently high year-over-year in September, dropping slightly in October.  DAT also pointed out that carriers operating in the spot market have felt “more pain than most. There should be some relief on the revenue side of the ledger by mid-year, but the focus will be on the expense side of the books in 2023,” . The good news is that the long-term U.S. Energy Information Administration forecast has diesel prices coming down. Some experts think there is still room for diesel prices to continue dropping, so I think the general consensus is that diesel prices will continue to come down.

BULTRANS
YOUR LOCAL RELIABLE CHOICE FOR YOUR FREIGHT SHIPPING NEEDS

WE UNDERSTAND HOW IMPORTANT RELIABILITY, AFFORDABILITY AND ACCURACY ARE WHEN IT COMES TO SHIPPING YOUR FREIGHT.
Our professional logistics team has proven track record of providing exactly that.
By choosing BULTRANS you ensure you have a truck showing up on time with professional and safe driver behind the wheel who will deliver you cargo anywhere in the country.
Do not hesitate to reach us via email: contact@bultransllc.com or feel free to call us at: (281)688-4266

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Trucking’s fuel falls

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Trucking’s main fuel falls for the seventh straight week, but three-week string of double-digit declines ends. With the U.S. average for trucking’s main fuel dropping another 5.9 cents to $4.537 per gallon. The decline wasn’t by double digits, as it had been the three prior weeks, but the 5.9-cent drop marked the seventh week in a row of cheaper diesel than the prior week.Read More

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Trucking’s main fuel drops

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Third week of declines cuts against expectations that trucking’s main fuel prices would surge higher because of low inventories. But supplies of the fuel now are up on weaker-than-normal demand, so that pressure point seems to have abated. The U.S. average price for diesel fuel has dropped for the third week in a row, defying expectations that trucking’s main fuel would surge on fall-to-winter inventories that dipped recently to a nationwide supply of less than a month.Read More

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FMCSA

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FMCSA noted it must consider how technology has changed freight brokerage, the roles of bona fide agents, and other parts of the freight transportation industry. FMCSA is examining the role dispatch services play in the transportation industry.

The critical role of financial responsibility in broker regulation FMCSA clarified that handling money exchanged between shippers and motor carriers is a factor that strongly suggests the need for broker authority.

There was a split among freight transportation stakeholders on whether the current definition of broker was adequate. Another stakeholder representing the household goods motor carrier industry asked FMCSA to clarify that merely selling leads does not require an entity to obtain broker authority. Fide agents could represent multiple motor carriers without having discretion as to how to allocate freight between motor carriers.

BULTRANS
YOUR LOCAL RELIABLE CHOICE FOR YOUR FREIGHT SHIPPING NEEDS

WE UNDERSTAND HOW IMPORTANT RELIABILITY, AFFORDABILITY AND ACCURACY ARE WHEN IT COMES TO SHIPPING YOUR FREIGHT.
Our professional team has proven track record of providing exactly that.
By choosing BULTRANS you ensure you have a truck showing up on time with professional and safe driver behind the wheel who will deliver you cargo anywhere in the country.
Do not hesitate to reach us via email: contact@bultransllc.com or feel free to call us at: (281)688-4266

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