Commerce Express Weekly Road Map:
September 17th, 2024
Keeping you informed on the latest news/insights in our industry.
Put Your Focus on Freight Fraud: Addressing Industry Concerns
Fraud in the industry continues to be one of the most common challenges to deal with. Simply put, freight fraud is getting more advanced than ever. Common forms of fraud include double-brokering, cargo theft, fictious pickups (essentially identify theft), etc. It’s crucial to vet your partners, have a good tracking/tracing system in place, and have good relationships with
As Travelers has noted in Q1 2024 data report, of the 925 incidents reported, Q1 ’24 volumes saw a 45.67% increase compared to Q1 of last year, and up 9.86% from Q4 ’23.
Commerce Express team works closely with their shipper-customers and transportation partners to ensure complete visibility for all parties. We also encourage those to thoroughly vet your carrier/partners involved, be aware of high-risk areas of cargo left (and avoid those routes when able), ask questions if you have concerns, read/verify documents, etc..
“Our team rigorously vets prospective carriers before we make the important decision to entrust one with a client’s load. We have a qualification process which includes proving if a carrier is credible, reputable, and in business for at least six months. We also verify the identities of truck drivers, trucks and equipment, and other personnel involved in each transaction,” Commerce Express Managing Director Andrew Koval states.
Additional resources:
Co-Brokering Versus Double Brokering
Commerce Blog
Trucking advocacy group American Trucking Associations estimates more than 80 percent of U.S. communities rely exclusively on commercial trucks to meet their freight transportation needs. Some 3.6 million professional truck drivers operate on U.S. roadways, serving the country’s tremendous consumer demand. Simply put, without them, the national economy would halt.
Starting Sunday, Sep. 15, through Saturday, Sep. 21, is National Truck Driver Appreciation Week, an annual program put forward by the American Trucking Associations (ATA) to shed spotlight on the truck driving profession, otherwise overlooked one to the general public.
If you find yourself next to a truck driver next week, please give them some thanks. The Commerce Express Inc. team sure will!
Weather: The Port of New Orleans has since resumed normal operations after temporarily closing from September 11th – prior to the hurricane’s landfall – till September 12th as of 6pm.
Over in Texas, due to the severity of the storm, authorities had to temporarily close the World Trade Bridge in Laredo, Texas – a major cross-border crossing – per Freightwaves, reports show that both sides of the border were open as of Monday. Some ports in Texas also experienced some temporary closures, but most were open by September 13th (with some restrictions), per the U.S. Coast Guard.
U.S. Labor Uncertainty: The ILA has wrapped up their two-days of meetings (Sept 4th-5th) during which it updated their wage scale committee on proposed contract terms and prepared members for the potential of a work stoppage at East/Gulf Coast ports. The President of the ILA, Harold Daggett, said they will hit the streets on October 1st, if they don’t receive the contract they feel they deserve.
For months the ILA and USMX have been at an impasse, following a halt in talks back in June when the union learned that automated systems were being used at some ports to process trucks.
Port Infrastructure: The Los Angeles Harbor Commission greenlights $52 million for on-dock rail capacity upgrades for Pier 300 terminal, the port said in a press release.
Truckload Market: The Labor Day holiday showed minimal impact on the U.S. trucking market, as rates remain steady. Per Freightwaves data, national dry van spot rates declined leading up to the holiday, while tender rejection rates briefly increased before seeing a decline this past week.
Port of Portland: A group of shipping stakeholders have given Oregon Governor a business plan to maintain international container service at the Port of Portland’s Terminal 6.
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