Truck Parking Club hits major milestone with 1,000 property locations across 46 states, providing 24,000 parking spaces for truckers nationwide. CEO Evan Shelley shares the company's journey and ambitious plans for expansion.
Trucking Industry May Be Nearing End of Freight Recession
Signs point to the trucking industry nearing the end of the current freight recession, with trucking revenue still high despite reduced demand. A market turnaround, however, is yet to be seen.
Although the trucking industry is facing a freight market recession, there are indicators that suggest it may be nearing the bottom of the downturn. Seasonally adjusted trucking ton-mile index, which implies freight demand, shows a minor rise of 0.6% from March to April 2023, yet is down 1.6% compared to April 2022. Despite this, trucking revenue remains elevated compared to pre-pandemic levels, suggesting that capacity isn't exiting as rapidly as expected. The near future likely sees the industry remaining in this trough without a significant shock event to stimulate demand.
Special damages, also known as consequential damages, are extra costs not automatically covered by the carrier. They arise from the consequences of damaged or delayed freight. Here's what brokers and shippers need to know.
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