Transportation TIP List: Week of May 22nd, 2016
With Memorial Day this upcoming weekend marking the unofficial start of summer, we’re thinking about what’s hot in the transportation and logistics industry. Although some topics, like cargo theft incidents, may not be a picnic, there are plenty of bright spots highlighted in our TIP List this week, including record-high retail imports and new reefer opportunities. See below for the trends that are heating up!
- FMCSA’s Proposed Carrier Rating Reforms ‘A Sham,’ Rely too Heavily on CSA Scores: Transportation attorney Henry Seaton has found numerous problems with the FMCSA’s January-published proposal to implement major reforms to the way it rates carriers and intervenes to place them out of service.
- Move in Senate Would Restore 2013’s 34-hour Restart Rules, Require 1 a.m. to 5 a.m. Periods: An amendment set to come to the Senate floor would, if made law, bring back regulations requiring truckers’ 34-hour restart to include two 1 a.m. to 5 a.m. periods and limit the restart’s use to once a week.
- 221 Cargo Theft Incidents Reported in First Quarter: The number of cargo thefts in the U.S. in Q1 of 2016 was up 8 percent, but the average value of the thefts was down 56 percent when compared to the first quarter in 2015.
- US Operating Ports, Container Lines Plan to Forge SOLAS Strategy Together: Six U.S. East and Gulf coast operating ports and 19 ocean container lines want to craft a common strategy to meet the SOLAS container weight rule that takes effect July 1, asking the U.S. Federal Maritime Commission for permission to enter a “discussion agreement.”
- Retail Imports Hit Near-Record Highs at US Ports: Import cargo volumes at the nation’s major retail container ports are expected to be at some of the highest levels ever during the next few months despite a falloff from last year’s record-setting numbers.
- Panama Canal Expansion Brings Reefer Opportunities: Transportation development and new technologies are impacting the trade of perishable goods in reefers. Reefer trade is expected to grow exponentially in the coming years, and this trend will continue with the addition of new services through the Panama Canal.
- E-Commerce Drives Surge in U.S. Warehouse Rental Prices: The rapid growth of online sales in the U.S. is pushing up demand and prices for the warehouses needed to get goods delivered to consumers faster. Rental rates for prime warehouse space in the U.S. jumped 9.9% in 2015 over the previous year.
What industry trends will you have your eye on over the Memorial Day weekend?