Your most important decisions deserve the most qualified advisors.

News

October 27, 2013 - Shippers Indifferent to CSA Scores, Carriers Focused on Safety

TruckingInfo.com echoes third quarter TCP survey results that say shippers are still largely unconcerned by carrier CSA scores. However, the use of e-logs continues to grow among carriers, and truck speeds are controlled.

Operating at posted speed limits is an essential aspect of truck and driver safety, and very important for managing fuel costs. Nearly half of carriers (46%) indicated their speed limit was set at 65 mph. Thirty-one percent indicated it was set at 63 mph.

Fifty-seven percent of carriers are now committed to using e-logs. Significantly more larger carriers than smaller carriers are committed to e-logs, 71% vs. 27%.

This may be a result of larger carriers having the necessary resources to fund, train and manage compliance and dispatch. Smaller carriers, on the other hand, continue to postpone the expense.

“Many carriers, on e-logs, tell us driver acceptance is good, HOS compliance is better, and CSA scores have improved since full implementation,” noted Steven Dutro, TCP partner.

Read more here.

October 26, 2013 - Capacity Additions Remain Moderate

Carriers are adding capacity but the growth remains conservative, says a recent article from TruckingInfo.com.

Using current TCP survey results, the article states that carriers expecting capacity additions of under 5% have increased, from 22% in February 2011 to 45% today. Carriers intending to add more capacity – i.e. 6-10% – have decreased, from 25% in February 2011 to 15% today.

In this quarter’s survey, smaller carriers were more conservative than larger carriers in their buying plans. Only 15% of smaller carriers intend to add more than 6% capacity, compared with 23% of larger carriers.

Smaller carriers are also less optimistic about volumes. It is thus unsurprising that they are less likely to add capacity. These smaller carriers may also be having a harder time finding financing for expansion than their larger competitors.

“Tight credit remains a challenge for a lot of businesses, particularly for truckers, and especially those not well positioned,” observed Steven Dutro, TCP Partner.

Full article here.

October 25, 2013 - Smaller Carriers May Be Disadvantaged Under ACA

According to a recent Transport Topics article citing TCP survey results, smaller carriers are more likely to report adverse effects from the Affordable Care Act than larger carriers. Thirty percent of smaller companies are considering dropping health coverage for employees compared with only 10% of larger carriers.

The article quotes TCP partner Richard Mikes, ”Smaller carriers are at a disadvantage to find and retain drivers if they cannot compete with the health packages offered by larger carriers.”

The new health care law will require most companies with more than 50 employees to provide health insurance to workers.

Read more here.

October 24, 2013 - TruckingInfo.com Shares Survey Results on Health Care Changes

Carriers are gradually coming to terms with the effects of the new health care law, and what they must do to comply, according to TCP’s third quarter survey.

Thirty-six percent of carriers last year indicated that the new law had made no difference to their business. This quarter, that number dropped to just 8%.

Carriers have also shifted their strategies for dealing with the increased costs. In the fourth quarter of 2011, 43% of carriers indicated they were likely to have employees contribute more toward health costs. Now, carriers are more likely to implement wellness programs (44%) and health savings plans (30%).

Read the article here.

October 23, 2013 - Do Shippers Care About CSA Scores?

TodaysTrucking.com cites the recent TCP survey to suggest, “not really.”

The number of shippers unconcerned by carrier CSA scores rose from 15% to 22% this quarter. Only 16% of shippers are reportedly concerned.

“We are at a loss to explain the increase in shippers not concerned. One possible explanation is that shippers simply do not use CSA scores as a determinant in choosing a carrier,” said Richard Mikes, TCP Partner.

It is likely that many shippers still do not believe CSA scores are an accurate reflection of carrier safety.

Read the full Today’s Trucking article here.

October 17, 2013 - Rising Carrier Optimism

Desi Trucking relates that TCP’s third quarter survey results reflect similar sentiments from Ontario carriers in the 3rd quarter Ontario Trucking Association Business Expectations Survey.

In the OTA survey, motor carriers expressed more optimism and lowered uncertainty about the direction of the industry. In that survey, freight volumes as well as pricing continued to stabilize and/or appeared headed for growth.

TCP’s survey showed positive volume expectations are now up to 61% of carriers. Furthermore, a majority of carriers (66%) expect rates will increase over the next 12 months.

To read the Desi Trucking article, click here.

October 16, 2013 - More Carriers Expecting Volume and Rate Growth

TruckingInfo.com cites TCP third quarter survey information in their September 24th article.

Since a low point of 50% in third quarter 2012, positive volume expectations are now at 61%. In the survey, larger carriers are considerably more optimistic than smaller carriers.

A majority of carriers also expect to see rates increase over the coming 12 months. Smaller carriers have often been the more optimistic about rates. But, in this survey, a greater percentage of larger carriers are anticipating rate increases (74% vs. 48%).

“Spot market trends over the summer have been positive for most carriers and this may be the precursor to continuing volume optimism,” stated TCP’s Richard Mikes.

To read the full article click here.

October 15, 2013 - Optimism Builds for Volume and Rate Growth

The freight market is into positive territory thanks to the economy’s slow, but steady growth. TheTrucker.com cites the 3rd quarter TCP survey showing more carriers expecting volume and rate growth over the next 12 months.

Since a low point of 50 percent in third quarter 2012, positive volume expectations have risen to 61 percent. Larger carriers (68%) are much more optimistic than smaller carriers (45%).

Carriers are also more upbeat about future rate growth. Sixty-six percent of carriers expect rates will increase over the next 12 months.

Full article here.

October 14, 2013 - Carriers Upbeat on Volume and Rate Growth

Today’s Trucking shares data from the TCP third quarter industry survey in their recent article. The survey reveals more U.S. carriers expecting to see volumes and rates grow over the coming months.

“The stronger than expected volumes of the last few months are being reported by some carriers as boding well for the fourth quarter,” according to TCP partners.

However, the article also suggests that the “proof will be in the pudding.” The economic recovery and future projections are still modest. Thus, carriers are not yet seeing their optimism on volumes and rates reflected in actual rate growth.

TCP Partner, Richard Mikes, notes, “Underlying cost rate pressure is ongoing – from new truck costs and maintenance inflation to pinched driver efficiency, from HOS changes and inadequate carrier returns.”

Read the article here.