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Tuesday, June 30, 2020
Logistics Intelligence Brief
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Freight market shows slight improvement in May

Supply Chain Dive Matt Leonard June 29, 2020

Dive Insight: Carriers have also noted the market showed some signs of life in May. "The degradation in volumes appear to have stabilized as we moved into the last couple of weeks of April and the first week of May," YRC CFO Jamie Pierson said on an earnings call last month. But carriers are also trying to manage capacity at a time when demand is hard to come by. DAT's load-to-truck ratio, a measure of demand in the trucking market, fell to 0.98 in April before increasing again to 1.9 in May.

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Trucking braces for next phase of coronavirus

Transport Dive Jim Stinson June 29, 2020

The preparation and measures that fleets took earlier in the year shows the trucking business has girded itself for the "new normal" of virus mitigation. Where fleets stand today is far from where the industry stood as COVID-19 was first reported the United States in February, according to John Esparza, president and CEO of the Texas Trucking Association (TTA). It means most fleets could likely withstand the logistical challenges of a new coronavirus challenge. "We are in a better position now than we were back on March 1," Esparza told Transport Dive. "We are ready if something like that were to occur."

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Comcar truckload asset deal expands Canada’s TFI’s US reach

The Journal of Commerce William B. Cassidy June 29, 2020

TFI looks south The acquisitions are TFI’s third and fourth purchases in recent months. Earlier in June TFI acquired Ontario-based drayage company Gusgo Transport, and in March TFI bought the Courier Services business of R.R. Donnelley. Prior to the MCT and CT deals, TFI’s truckload division included 13 conventional truckload carriers and 31 specialized carriers. Bédard told investment analysts in April that TFI would not be making major acquisitions in 2020, but would still look for "tuck-in" opportunities. The company completed a $230 million US initial offering in February.

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Diesel Price Creeps Up for Fourth Week in a Row

Transport Topics Dan Ronan June 29, 2020

Even with the increase from $2.425 the price of trucking’s primary fuel is 61.2 cents a gallon less than it was a year ago. The price of diesel increased in seven of the 10 regions of the country surveyed by EIA. The most expensive diesel in the nation remains in California, where the average price rose nine-tenths of a cent a gallon to $3.246, but that still is 71.7 cents cheaper than at this time in 2019.

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Warehouses Offer Crowded Shelter in Retail Storm

The Wall Street Journal Carol Ryan June 29, 2020

E-commerce is surging as wary consumers avoid crowded public places. While the likes of Amazon and Europe’s top fashion website Zalando are the obvious winners, investors seem just as excited about their warehouse suppliers. Spending has moved rapidly online during the pandemic. In the U.K., e-commerce accounted for 31% of retail sales in April, up from 19% for the same month last year. Only part of the shift is likely to be temporary. By 2025, UBS expects one-quarter of all U.S. retail spending to be online—a trend that is seen forcing 100,000 physical stores to close by the middle of the decade.

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Trucking insurance rate trends continue in the wrong direction

Fleet Owner Cristina Commendatore June 29, 2020

In the last five or six years, trucking companies have watched their insurance rates climb, and many have found the insurance process daunting. Since 2018, trucking insurers have lost around $1.8 billion due to continued pressure from plaintiffs’ attorneys targeting the industry and because of crippling multimillion-dollar settlements and jury verdicts, and third-party litigation funding initiatives.

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Truck trailer group accuses regulators of trying to rewrite emissions law

Freight Waves John Gallagher June 29, 2020

Truck trailer manufacturers are hitting back at efforts by federal regulators to define trailers as motor vehicles as the equipment makers try to steer clear of additional costs resulting from new emissions standards. In a June 23 filing with the U.S. Court of Appeals for the D.C. Circuit, the Truck Trailer Manufacturers Association (TTMA) accused the U.S. Environmental Protection Agency (EPA) of a “convoluted effort to rewrite a simple statute” in order to regulate truck trailers.

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AAR says the INVEST in America Act does not meet freight railroad’s needs

Logistics Management Jeff Berman June 29, 2020

AAR said that this legislation is replete with what it called numerous harmful provisions that would have a negative effect on railroads for years to come, hindering its ability to ability to adapt and serve customers and the economy.

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