Commerce Express Weekly Road Map: March 16th, 2021

Keeping you informed on the latest news/insights in our industry.

Truckload

In an effort to alleviate the stress of the driver shortage, the DRIVE-safe Act was reintroduced by bipartisan legislators, according to HDT. This is being done in hopes to approve the crossing of state lines by certified commercial drivers under 21. There are trainings and safety classes these young driver’s would have to complete, along with over 640 hours of on and off duty driving time with an experienced driver in their cab.

Legislators are not alone in this effort, as HDT states that “a coalition of nearly 90 companies and trade associations” support the enactment of the DRIVE-safe act. This act will hopefully provide a long time alleviation of driver shortage as experienced drives begin to retire.

Less Than Truck Load

While LTL business continues to boom, there are several bottle necks making this growth full of growing pains. No doubt that the past 12 months have been full of ups and downs in the industry, which is why this boom is exciting. However, with this growth, Freightwaves reports that “finding drivers and dockworkers, port congestion, bad weather, rail service issues, and getting equipment stuck at warehouses are some of the obstacles carriers are facing as they try to meet inflated demand and replenish still depleted inventories“.

If you are currently facing any difficulties finding availability, maneuvering around delays from weather, or experiencing any other frustrations, please reach out to us today for different options and solutions our team can provide.

Rail

In last week’s Rail portion of the Road Map, we reported an astounding increase in overall volume of intermodal shipments. This week’s report yields the same result. Due to sizable amounts of e-commerce activity, U.S. container volume saw a 22% year-over-year increase in the past week.

This boost, according to Freightwaves, is thanks to an increase in the re-stocking of coal and grain. Additionally, the National Retail Federation (NRF) reported a rise in their 2021 first-half forecast of twenty-foot equivalent units (TEUs) to 23.3% year-over-year. Retailers throughout the country have been importing large amounts of their product to meet the demand of their customers, which could lead to record-breaking retail sales growth. Following the decline of intermodal transit due to the snowy conditions seen in the past month, it will be interesting to see how rail shipment continues to bounce back with warmer months to come.

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