Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Indiana pulled the trigger on carriers employing illegal CDL holders. Plus: tariff ruling could flood LA with imports, DC finally moves on double brokers, spot rates are outrunning contract, and more.
Plus, a looming port strike could disrupt major U.S. ports and affect trucking rates, ACT Research has revised its 2025 truck forecasts downward due to high inventory levels and slow orders, and more.
Good morning. A looming port strike could disrupt major U.S. ports and affect trucking rates. ACT Research has revised its 2025 truck forecasts downward due to high inventory levels and slow orders. Plus, Uber Freight has launched a major platform update.
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🐔 WHAT’S COOKIN’ IN FREIGHT
⚓️ Port Strike Looms. A potential labor strike that could shut down six of the ten busiest ports in the U.S., including those on the East Coast and Gulf, is looming as negotiations between the United States Maritime Alliance (USMX) and the International Longshoremen's Association (ILA) have stalled. The ILA is demanding higher wages to offset inflation and record profits made by ocean liners during the pandemic. If no agreement is reached by the last weekend of September, a strike could occur, potentially leading to significant disruptions just weeks before the presidential election, which could cause rate hikes in the trucking industry.
🚛 Truck Market Shift. ACT Research lowered its 2025 truck forecasts due to record-high inventory levels and slow orders, with Class 8 truck orders in July down 6% month-over-month. Concurrently, the July Cass Freight Index shows a stabilization in the freight market, with year-over-year declines in shipments narrowing to 1.1%, the smallest drop in 17 months, and a slight recovery in expenditures. While the truckload market faces ongoing overcapacity and competitive pricing, there are signs that the worst of the current cycle may have passed.
💊 Record-Breaking Meth Bust in Georgia. The Drug Enforcement Administration agents in Atlanta uncovered over 2,300 pounds of meth, valued at $3 million, concealed within a celery shipment on a semi-truck at a Clayton County farmer's market. Linked to the Mexican cartel, this is the largest meth bust for DEA Atlanta and the third-largest seizure in DEA history. Officials expressed surprise that such a large shipment of drugs was not seized at or near a port of entry.
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Uber Freight has announced a big overhaul of its freight quoting and booking platform, now rebranded as Uber Freight Shipping. This update comes as the company navigates financial challenges, as revealed in their Q2 2024 earnings report.
Steve Barber, Head of Shipper Products at Uber Freight, emphasized the platform's focus on small and medium-sized businesses, stating, "We want to provide them with a way to quickly and easily determine their costs, compare to the marketplace, and access the latest visibility tools."
While Uber Freight reports strong adoption of its platform, with 176% growth in new customers over the past 12 months, the company's financial performance tells a more complex story:
While Uber Freight positions this update as a step forward in democratizing access to advanced logistics tech, its ongoing financial challenges raise questions about the long-term implications on the industry.
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🌎 AROUND THE FREIGHT WEB
🚚 Deregulation Benefits. Craig Fuller tweeted about how deregulation in transportation significantly lowered costs, improved services, and made modern e-commerce possible.
✈️ China Tests Massive Cargo Drone. State-funded company successfully flies 2-ton capacity twin-engine drone.
⚖️ Legal Settlement. Pilot Air Freight agreed to pay $400K to settle a claim alleging a worker was unjustly fired due to their cancer diagnosis.
🌪️ Hurricane Damage. Hurricane Debby caused catastrophic damage, resulting in $28 billion ranging from damage to property, job & wages loss, interruption of supply chain and other damages.
🚛 Acquisition News. TFI International expanded its footprint by acquiring CMW Express and FRL Express. This acquisition is part of a similar spree of deals focused largely in Canada and cross-border this year.
🚨 Fraudulent Charges. A couple was arrested for scamming a trucker out of $28K by charging for fake repairs at their body shop.
FREIGHT MEME OF THE DAY
Two bills just dropped in the Senate that could reshape trucking faster than anything since deregulation. Plus: Russian hackers targeted your load board, flatbed rejection rates just hit 40%, and a robot is taking the Houston-Dallas overnight run.
This week: The Dalilah Law, a trucking bankruptcy that wiped out thousands overnight, a FreightGuard civil war on Reddit, and the payroll data that's predicting Q4 capacity.
Indiana pulled the trigger on carriers employing illegal CDL holders. Plus: tariff ruling could flood LA with imports, DC finally moves on double brokers, spot rates are outrunning contract, and more.
The Supreme Court ruled Trump's tariffs illegal. Plus: an Illinois official took $300K and handed out illegal CDLs, cartel violence may affect your Mexico freight, 550 CDL schools just got shut down, and more.
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