The trucking industry began employing artificial intelligence in recent years to improve operations and address a variety of challenges. AI has the ability to greatly increase business intelligence, efficiency, and safety in the trucking industry. AI systems can monitor driver behavior, optimize routes, predict maintenance needs, and expedite logistics by combining cutting-edge technology like machine…
Regulations related to safety standards, environmental policies, hours-of-service rules, and economics pose challenges to the trucking industry and affect both large companies and independent owner-operators. Owner-operators who run small businesses and operate their own trucking companies may find it especially challenging to navigate these complicated and frequently strict regulations. In order to effectively represent the interests…
Despite the Fuel Cost Decline Operational Costs are Still High In 2023, operational costs for trucking carriers increased despite lower fuel prices, with the overall marginal cost of operating a truck reaching $2.27 per mile, a 0.8% rise from 2022, according to the American Transportation Research Institute (ATRI). Since 2020, costs have increased by 62.4 cents…
Diesel Prices Go Down While Rates Go Up Diesel prices in the U.S. have hit a two-year low, averaging $3.76 per gallon, the lowest since January 2022, after peaking over $5 in early 2022 due to the Ukraine conflict. This marks the sixth consecutive week of price declines, with the most significant drops in California and…
Retailers Destock Their Pandemic Stockpiles, and the Trucking Industry is Suffering The U.S. truck freight market experienced a decline in both shipment volume and spending in the fourth quarter of 2023, marking the largest year-over-year drop in volume in the history of the U.S. Bank Freight Payment Index. Shipment volume was down 15.7%, and spending contracted…
FMCSA Faces Congressional Scrutiny Over Controversial Speed Limiter Mandate The Federal Motor Carrier Safety Administration (FMCSA) faces scrutiny in Congress regarding the proposed speed limiter mandate, as reported by Overdrive. The mandate, which has sparked debates in the trucking industry, aims to set speed limits for commercial vehicles. Critics argue that enforcing such limits could have…
FMCSA's Game-Changing Final Rule: Holding Brokers Accountable for Timely Payments to Carriers The Federal Motor Carrier Safety Administration (FMCSA) has introduced a final rule aimed at addressing issues of non-payment faced by carriers in the trucking industry. The rule targets brokers who intentionally withhold payments to carriers, seeking to enforce accountability and fair practices. This move…
