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It is inevitably that every industry will be impacted by this pandemic, but in different and intertwined ways. What will happen, or as we speaking, what is happening in trucking and factoring industry, we’ll go trough in this weeks blog.

The only clear aspect of ongoing pandemic is that it will have impact on literally everyone, and every aspect of life as we knew it. But id doesn’t have to be a negative thing that happened to all of us, for example CPM for truck drivers skyrocketed since June, Many fleets started providing on-site employees and drivers with protective personal equipment such as face masks and gloves. That practice is predicted to remain in place indefinitely.

As ARL’s Fahrety said: ““This has been the perfect storm. A lot of motor carriers have not experienced or seen a down market,”. So, road heroes, you have nothing to worry about, transportation analysts anticipate growth within the industry next year, especially in terms of freight volumes.

When speaking of freight industry workers, who don’t spend their hours inside of a Truck cabin, NFI’s CEO Sid Brown states: “A certain portion of many carriers’ back-office workforces will remain remote when stay-at-home orders lift. Does that mean we’ll never go back to an office? No. But I do think it means we may end up having 20%, 30%, 40% of the workforce working remotely on a rotating basis”

Conclusion about COVID impact on freight industry, as e-commerce began to grow and more and more people starting to relay on, it will impact how goods are transported throughout the supply chain, which means – expect expansion!

With expansion in trucking industry, factoring enters into force. With businesses struggling to adapt in world dictated by measures to spread a virus, factoring became a no. 1 solution against firms’ late payments issues.

WOA, recently, surveyed a group of businesses that have been using factoring services, results can be found @ https://www.tradefinanceglobal.com/posts/woa-survey-reactions-to-the-corona-virus-outbreak-2020/

If you are lucky enough to find your self in freight industry (or anything closely linked to that field) in 2020, you have nothing to worry about. Keep up the hard work, stay focused and wear a mask!

New changes for 14-h rule, 30-minutes break are taking effects, here is what they look like:

The concern is mostly reflected in the minimal improvements in the rules, and the possibility for shippers , carriers or brokers in pressing drivers, almost exploit, to work longer days, the overhauled hours-of-service rule does give drivers the ability to pause their 14-hour clock for multiple hours a day…

– Changes took effect on September 29th, 12:01 a.m. Eastern, 9:01 p.m. Pacific, Sept. 28 –

It may also sometimes reduce the use of the 30-minute break in any specific working day, or at least be provided in a workable way, since the new regs allow drivers to use the break throughout any duty position other than in-duty driving and changes the condition of the break to be on duty within the first eight hours of driving time rather than the first eight hours.

More detailed article on this matter you can find on this link *https://www.overdriveonline.com/hours-of-service-reforms-14-hour-rule-sleeper/?utm_medium=single_article&utm_campaign=site_click&utm_source=in_story_promotion* from May 2020

source: overdriveonline

In just five months, prices have risen by 62 cents per mile in what is known as the largest uninterrupted rate rally of the last five years.

According to  DAT Freight & Analytics, which operates the industry’s largest online marketplace, The DAT Truckload Volume Index, rose 1.1% from last month and is 0.8% higher than August 2019.

They stated that: “Volatility in shipper networks due to shifting consumer purchasing spilled over to the spot market. For instance, commercial food service is way down, but grocery purchases are up,” said Ken Adamo, chief of analytics at DAT. “Asset-based carriers continued to honor their committed volumes but didn’t necessarily provide additional surge capacity. As a result, the number of available loads increased, and prices rose to attract additional capacity.”

In August nationwide, the spot van rate averaged $2.22 per mile, up 19 cents compared to July and 41 cents higher compared to August 2019. The average spot line-haul rate for vans (the overall rate minus fuel surcharges) at $2.02 per mile was the highest monthly national average ever. And for the first time since January 2018 surpassed the national average contract rate.

DAT Freight Outlook

• Weather and wildfires are likely to have an impact on supply chains in the near term, disrupting regular freight networks and creating a higher rate environment due to constraints on capacity. Hurricanes can lead to a tightening of flatbed capacity as machinery and building supplies are needed for recovery efforts.
• Tight inter-modal capacity and substantial rail surcharges at West Coast ports may force smaller shippers to consider switching to long-haul truckload carriers, especially out of Los Angeles and Long Beach. This would put further strain on spot market van capacity.
• DAT iQ, the company’s analytics business, now incorporates insights on contract truckload freight from DAT’s Freight Market Intelligence Consortium, acquired in June. FMIC’s Pulse Signal report in August concluded that while July contract freight volumes were flat, shippers increased their load volumes on the spot market from 12-15% on average to approximately 21%. This is a reflection of volatile demand for truckload capacity and of supply chains remaining out of balance.

Source: trucker.com

Commercial Vehicle Alliance announced this year’s brake safety week on last week of August and one more action which will be unannounced one-day brake safety enforcement initiative, which can come any day throughout the year, where CMV inspectors will go out on field and conduct brake system inspections on large trucks and buses in order to identify brake-system violations

CVSA President Sgt. John Samis said: “Despite the pandemic, commercial motor vehicle safety inspectors continue to prioritize vehicle and driver safety by conducting inspections every day. Safety is always our top priority and it’s our mission to ensure the vehicles on our roadways have met all safety standards and regulations. This is especially important as we rally behind truck drivers as they transport essential goods during this public health crisis. We need to do everything we can to ensure that the vehicles truck drivers are driving are as safe as possible.”

Did you know? That it takes two football field for a CMVehicle, moving 65mph with properly funcionatin brakes, to come to a complete stop? The largest percentage of all out-of-service violations cited during roadside inspections are brake-related. And that’s why properly functioning brake systems are crucial to safe operation.

TruFunding has an obligation to remind their customers so be responsible and to make sure their trucks’ brakes systems are in order, It is YOUR and our duty for society to maintain safety of ourselves and others and we do that by keeping the roads safe.