2021 Rate Outlook
Originally posted on K-Ratio
Trucking is a commodity and like any commodity, its price, though volatile and unpredictable, is still subject to the principles of supply and demand. In 2020, these principles, and their derivative concepts, were stressed and stretched to their very limits but always held true. One would be hard pressed to find another calendar year containing as many economic cycles as the prior. Unfortunately, or perhaps fortunately depending on which business one is in, 2021 will likely pick up and continue right where 2020 left off. Despite the extreme seasonality typically found inside freight, markets do not stop or
Sleek Match Engine Fuels Capacity & Savings
Sleek Technologies launched Sleek Match Engine back in October 2019 with a goal to simplify logistics by automatically matching drivers to loads. Match Engine, a proprietary machine-learning engine, leverages predictive algorithms, smart business rules, and a system of measures to gauge the likelihood of a specific driver to have an interest in a particular load. Match Engine overlays multiple internal and external data sources to find the perfect driver, which provides much-needed capacity, above average service levels, and shipper savings for our customers.
Help Us Celebrate National Truck Driver Appreciation Week!
Over 3.5 million men and women haul goods across America. These professional truck drivers have extremely demanding jobs, which feed directly into the health of our economy. They drive both night and day to ensure goods arrive safely and on time. Sometimes they leave thier loved ones behind for multiple days at a time. Without these truck drivers, local commmunities across the nation would not receive the products they want and need!
Rise in Offsite Safety Inspections Impacts Carriers & Number of Audits
Did you know more than 50% of Federal Motor Carrier Safety Administration’s (FMCSA) safety audits are now done offsite? An offsite audit consists of uploading electronic documentation and phone interviews, which moves the inspection process along much faster compared to in-person meetings.
Carriers may face penalties, shutdowns under Virginia COVID-19 regs
Recently, FreightWaves reported that the state of Virginia will soon require companies to classify employees by risk-level based on job duties. Since truck drivers are on the front lines and oftentimes require less than 6 feet of separation when picking up and dropping off freight, they will most likely be impacted. "For everyone's safety, it makes sense for employers to proactively develop a preparedness plan in case someone exhibits symptoms", said Dean Corbolotti Sleek Fleet Shipper Engagement Director. "It's still too early to understand the impact on the transportation industry. We hope there are no negative ramifications. Carriers, and shippers, have already endured so much".
Trucking Companies Park Fleet-Expansion Plans with Unprecedented Speed.
WSJ report notes decreases in truck orders, and average US truckload rate per mile of $1.51. According to Mike Nervick, Sleek Fleet CEO, "Market conditions will flip at some point, but the key question is when". Until then, shippers and carriers continue on with contingency plans, while developing strategies to bounce back when the economy is ready. "We're collecting data so we, along with our customers, have strong insights to navigate through future unknowns", said Nervick. #SleekPOV
House lawmakers vote to raise mandatory insurance coverage to $2MM
FreightWaves reports that lawmakers have approved increasing insurance required for truck drivers. "Unfortunately, this amendment will cause many small carriers to go out of business," said Dean Corbolotti, Sleek Fleet Director of Shipper Engagement. "Carriers are struggling. Covid has driven freight rates down, and decreased volume has made it tough for carriers to effectively reduce deadhead miles. Not to mention the costs of operating a truck, outside of fuel, have risen." #SleekPOV
Tips To Keep Workers Safe As They Return Back To Work
For several weeks now, workplaces across America have essentially shut down, or have had limited shifts, due to stay-at-home orders. Local governments are starting to ease restrictions so businesses can get back to full capacity. Safety will remain the number one priority. New protocols will be needed not only for employees, but for vendors and guests too. Shippers, who manage the flow of goods through warehouses and docks, need to consider not only the safety of their employees, but of the numerous truck drivers who pick up and drop off their products.
#SleekTruckerStory (Igor Brito)
One of the reasons America can start to press forward is because of those working on the front lines. The Sleek Fleet carrier network, made up of America’s hardest working drivers, continues to haul essential freight into hard hit areas. Here’s another #SleekTruckerStory.
Igor Brito, an independent driver from New Jersey, moves loads in and around the northeast region. As we know, many things have changed for those who work in transportation. Igor has noticed longer processing times at origin
Thank You To Our Truck Drivers- Our Heroes- During This Time of Crisis
A recent article published by Freight Waves says Pennsylvania has closed all rest stops, including access to parking lots due to COVID-19. "This will definitely impact truck drivers who are working their tails off to keep America moving", said Dean Corbolotti, Sleek Fleet director of shipper engagement. "Think about it, the men and women who haul freight across the US won't have a safe place to rest and clean up."
Now more than ever, essentials like food, medical supplies and paper products need to move across the US.