Tag Archives: transport topics

Trending Transportation Updates: April 2020

There were many new transportation updates in the shipping industry last month. Check out some of the top stories and transportation updates in April 2020!

Trending Transportation Updates: April 2020

Economy to reopen due to President Trump state-issued guidelines

On April 16, President Trump announced that lockdown measures will be loosening for businesses. The reopening of the U.S. economy will take place on a patchwork basis, meaning that each state governor will define the pace and timeline to take off restrictions. Governors can start getting the state’s economy back to normal on May 1, or earlier. Read more about the reopening plan here.

Oil prices go negative for the first time in history

Monday, April 21, was probably the worst day the oil market has ever seen. For the first time in history, oil prices went below $0 for barrel and kept falling negative. Such a crash is explained by a huge discrepancy between supply and demand. Due to reduced flights and road traffic, the demand for fuel and other oil products had drastically lowered, causing the market to collapse. Read more about oil prices fall-off here.

Truckload linehaul rates fall 9.2% last month

According to the Cass Freight Index, shipment volumes went down 9.2% since March, becoming the most substantial drop since the financial crisis in 2008. “This ends any chance of 2020 seeing year over year growth in domestic U.S. shipments and freight costs. This has quickly gone from a China production concern to a U.S. (and global) consumer spending problem. No business, no jobs, and no income for many leads to much less freight moving around,” David Ross, Stifel Financial equity research analyst, says. Read more about truckload rates here.

FMCSA expands emergency response further

As a response to the COVID-19 situation, FMCSA has issued an emergency declaration for all states, temporary relieving motor carriers, and drivers from Parts 390 through 399 of the Federal Motor Carrier Safety Regulations (FMCSR). The declaration was first released on March 13 and now was extended till May 15. According to an update that went into effect on April 8, drivers are not allowed to operate while fatigued or impaired and must continue to comply with state regulations regarding traffic violations and speeding. Read more about emergency response extension here.

PLS Logistics Ranked In Transport Topics Top 50 Freight Brokerage Firms

CRANBERRY TWP., PA (May 31, 2019) — PLS Logistics Services, a leading third-party logistics provider, has ranked in the top 50 on Transport Topics Top Freight Brokerage Firms for 2019.

The annual list ranks freight brokerage firms based on net revenue for the most recent 12-month period. The list also features breakdowns of the top freight brokerage firms, air and ocean freight forwarders, dry storage and refrigerated warehouse operators, and dedicated contract carriage service providers in North America.

This marks the 11th consecutive year that PLS has been ranked in the Top Freight Brokerage Firm list.

“It’s an honor to be continuously recognized as a leading firm, and we are thankful for each nomination” Greg Burns, CEO of PLS Logistics, said. “We have built a strong partnership with carriers and shippers, and their confidence in PLS has been a fundamental reason for our market growth. As PLS continues to advance in technology and ongoing innovations, we are proud to keep serving our customers to the best of our ability.”

For a complete list of the top freight brokerage firms, click here.

About Transport Topics

Transport Topics is the news leader in freight transportation and has been for the last 80 years. When it comes to major issues, industry events, and new departments, Transport Topics journalists are there first and most often. Read daily at www.ttnews.com.

About PLS Logistics Services

PLS Logistics Services is a leading provider of logistics management, brokerage, and technology services for shippers across all industries. PLS handles millions of loads annually across all major freight modes: flatbed, van, LTL, rail and barge, air and ocean. The PLS carrier network consists of over 45,000 pre-qualified trucking companies along with Class-1 railroads and major barge companies. To learn more visit www.plslogstics.com.

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