Is the recession end near?
Plus: More ELDs axed = more headaches
Insiders: As the trucking industry continues along its bumpy recession road, some industry execs are hopeful for a sector bounceback in the second half of the year. Read on to learn about the bright spots amid lower demand and higher operating costs.
Today's Lineup
🔷 Flailing electric truckmaker finds success with hydrogen trucks
🔷 "Superloads" impacting Wyoming traffic all summer long
🔷 A no-holds-barred look at working inside the trucking industry
🔷 More ELDs axed by FMCSA causing continued carrier headaches
🔷 Falsified logs at the center of fatal truck crash
-Bianca Prieto, Editor
⬇️$3.68
AVG. COST OF DIESEL PER GALLON IN U.S. AS OF 08/19, DOWN 0.016¢ Source: Department of Energy
BUSINESS
Optimism on the horizon despite weak freight demand
The freight industry continues to face challenges from a weak market. Many carriers are combating inflation-driven cost increases and a reduction in demand for their services.
Is everyone struggling? While the impacts are felt across the industry, various companies — particularly larger carriers — have achieved gains through strategic changes and improvements in specific segments, such as final mile services and LTL shipments. While that's promising to some degree, other carriers have reported losses or declines in revenue, highlighting the ongoing difficulties in the sector.
So what's the verdict? Throughout the industry, there's optimism for a better second half of the year. It hinges on market adjustments and strategic investments that remain to be seen, but many are hopeful for a bounce back sooner rather than later.
Why this matters: The health of the industry directly impacts company success, job security and wages.
Read more on Commercial Carrier Journal.
- 🎥 GREEN MACHINES: Nikola gains momentum with hydrogen trucks
- MOUNTAIN DON'T: Driver busted for using Dew box as wheel cover.
- TRUCKSTOP GROWTH: Major retailers will add new diesel locations.
- HEAVY HAULING: "Superloads" creep through Wyoming all summer.
- EASE ON CHEESE: Overweight hauling law helps Wisconsin dairy biz.
BUSINESS
Logs falsified in crash that killed motorcyclists
A former co-owner of Westfield Transport has pleaded guilty to falsifying driving logs related to a June 2019 crash in New Hampshire that killed seven motorcyclists. Dunyadar "Damien" Gasanov admitted to instructing an employee to falsify records to exceed federal hours-of-service rules and lied to investigators about his connection to the driver involved in the crash. He faces up to 15 years in prison and a $30,000 fine.
Why this matters: There are severe consequences for not adhering to federal safety standards, including legal repercussions and the potential loss of lives. (FreightWaves)
BUSINESS
Company owner set for prison in COVID money fraud
A Georgia man is headed to prison for fraudulently obtaining nearly $600,000 in COVID-19 relief funds. Roderick Billingslea, who previously owned three trucking companies that were shut down for safety violations, falsely applied for a PPP loan in 2020 and illegally established five new trucking companies.
Why this matters: "Chameleon carriers" (operators with a history of safety violations who are shut down and reopen under new names) often evade federal regulations, posing a threat to business legitimacy and safety. (Land Line)
PRODUCT
Additional ELDs removed from approved devices list
FMCSA has removed more ELDs from the list of registered devices on Aug. 16 due to their failure to meet federal requirements. Carriers using certain Blue Star ELDs and Reliable ELDs must stop using them, switch to paper logs or compliant logging software, and replace the revoked ELDs with approved ones by Oct. 14.
Why this matters: In a year that's seen significant changes regarding approved devices, it is important to stay compliant to remain operational. (Truckers News)
- OSHA Trucking Industry Resources: Check out the latest OSHA resources designed specifically to enhance safety and compliance within the trucking industry.
- FMCSA Safety Fitness Determination Virtual Session #3 Join the July 31 session to learn about the new process and its implications for your operations.
- Tips to build electrification strategy* Explore expert tips on developing an effective electrification strategy to future-proof your fleet and reduce environmental impact.
- Where are fleets spending the most?* Find out where fleets are allocating their budgets to maximize efficiency and stay ahead in the competitive transportation sector.
- These trends are shaping the future of physical operations* Stay informed about what's transforming physical operations and how they can impact your business strategies.
* These sponsored links are endorsed by The Inside Lane
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