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As week 5 of 2024 comes to an end we are looking at yet another market decline with rising costs and fewer miles. On a positive note, ATA is accepting new applicants for technician scholarships!
Texas Beverage Distributor Layoffs
Jumbo Beverages is laying off 109 workers at its distribution center in Grapevine, Texas.
According to Yahoo! Finance Jumbo Beverages serviced over 20 suppliers, 4,000 customers and covered a 22-county footprint across the Dallas-Fort Worth area. The company represented over 30 brands, including Shiner Beer, Fiji Water and Nesquik.
Read the full article on Yahoo Finance – click here.
US Truck Freight Market Declines
The U.S. truck freight market saw significant declines at the end of 2023, with a 15.7% drop in shipment volume and a 13.5% decrease in spending compared to the previous year.
The U.S. truck freight market ended 2023 with further declines in both shipment volume and spending, according to the latest U.S. Bank Freight Payment Index. Compared to the same period in 2022, fourth quarter shipment volume was down 15.7% in 2023, while spending by shippers contracted 13.5%. The year-over-year drop in volume was the largest in the history of the index.
Read the full article on monitor daily – click here.
Cass Shipment Index
December showed a slight improvement over the previous month but still marked a 7.2% decrease from December 2022, suggesting a challenging period for the trucking industry.
Move-over Law Expansion
Several states including Georgia, Kansas, Kentucky and Ohio are considering expanding move-over laws to include all highway users, enhancing safety rules on the road.
Read the full article on Landline Media – click here.
Rising Costs Despite Fewer Miles
Despite running fewer miles and introducing less repair-intensive new trucks, fleets face inflationary pressures on parts prices and labor costs.
Diesel Prices Increase
The average price of diesel fuel in the U.S. is rising, affecting operational costs for truckers.
Speed Limiter Mandate
The FMCSA targets May as the notice date for a speed limiter mandate for motor carriers, aiming to improve highway safety.
Full article here.
Technician Scholarships by ATA
The Arkansas Trucking Association is accepting applications for technician scholarships, offering up to $7,500 to eligible individuals.
“The Carl Tapp Memorial Scholarship has already awarded $90,000 to students across Arkansas pursuing education and training for a career in trucking. We are proud to launch a new search for the next recipients,” said ATA President Shannon Newton.
Read the full article on Arkansas Association Trucking – click here.
Intermodal Freight Infrastructure Funding
Over $728 million is being allocated by the federal government to strengthen intermodal freight infrastructure across the nation.
Read the full article on DC Velocity – click here.
Impact of Truck Idling
Truck idling, a common practice among drivers, poses significant financial and environmental costs, with many states regulating the practice to mitigate its impact.
Read the full article on ACT News – click here.
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Last modified: February 2, 2024
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