Commerce Express Weekly Road Map:
August 27th, 2024
Keeping you informed on the latest news/insights in our industry.
July Truck Tonnage
In July, the American Trucking Associations advanced seasonally adjusted For-Hire Truck Tonnage Index rose by 0.3%, recovering from a 1.8% decline in June.
The For-Hire Truck Tonnage Index by the ATA is a way to measure the amount of tonnage that’s transported by the motor carrier industry in a particular month. They use surveys from their members such as large-truckload fleets and has been calculated since the 1970s.
When comparing July truck tonnage from the previous year (2023), this year saw a 0.9% year-over-year decrease.
The ATA alludes to strong import activity (especially at the U.S. West Coast), plus decent retail sales and factory output, as reasons for July’s small truck tonnage gains.
Commerce Blog
An example of cargo theft’s beguiling makeover is the fictitious pickup—a scheme where cargo is stolen by fraudulent means, like a truck driver using phony identification or a fictious business posing as a real trucking company hired to haul a load.
In fact, fictious pickups have become a more popular form of cargo theft in the trucking industry. According to theft solutions provider CargoNet there were 127 more cases of fictious pickups in 2023 compared to 2022.
While it’s still necessary to lock warehouses and trucks, supply chain professionals must also safeguard their supply chains from a newer, more sophisticated, digital form of theft. The following are ways to mitigate fictious pickups.
How does Commerce Express team ensure complete visibility for all parties involved?
Read more…
Canada Labor Uncertainty: A lot has happened since last week’s Road Map Newsletter. Canadian National (CN) and Canadian Pacific Kansas City (CPKC) worker lockout started Thursday August 22nd, but ended shortly after, as the Canada Labor Minister stepped in and ordered the railways and Teamsters Union into binding arbitration and to resume operations.
In response, TCRC issued a 72-hour strike notice with their intention to strike on Monday August 26th at 9am CST. However, the Canadian Industrial Relations Board (CIRB) stepped in and ordered no additional work stoppage (strike or lockout) can occur during arbitration.
This means the strike notice that TCRC issued (and was planned to start August 26th) is null and void.
Cross-Border (Mexico): Trade is booming over on the U.S. – Mexico lane, as 675,000 trucks made their way through the border in May alone, per FleetOwner.
Have cross-border shipments you need shipped? Let’s talk! Reply to this email or contact our team here.
Truckload: Brake Safety Week takes place this week going until August 31st. Learn more about this initiative, here.
Diesel Update: This week the average price of diesel decreased 3.7 cents to $3.651 a gallon, per the U.S. EIA.
Motor fuel taxes in Minnesota are set to increase, Transport Topics reports. Starting in 2025, the motor fuel tax will adjust every August 1st with a 3% cap on increases. This change is projected to raise $1 million by fiscal year 2025 for state transportation projects.
U.S. Labor Uncertainty: The East/Gulf Coast Dockworker contract expires on September 30th, with the International Longshoremen’s Association set to present their final demands and strike strategies to union delegates on September 4-5th. Key issues focus on wage increase and automation concerns.
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