Owner-operators are really feeling the heat of increasing costs in 2019. Many trucking companies are under pressure to hike up wages and offer competitive benefits in order to attract and retain drivers. Shipping companies are charging increasingly higher rates because of rising fuel prices. Equipment repair and…Read More
Here’s why this matters: fuel equals about 21% of motor carrier expenses. In 2018, a barrel of benchmark crude oil cost a whopping $72, compared to an average of $60 …Read More
Here’s the good news: trucking companies are reporting fewer workers’ comp claims than previous years. What’s the not-so-good news? The average cost of those claims is considerably more than in other industries. With more on-the-job injuries, higher medical expenses, and loss compensation, costs can quickly soar. Industry-specific health issues…Read More
A big hurdle for owner-operators (O/Os) is finding the right insurance at the best prices. You know that protection is a must, but how can you be sure you're making good choices? Your truck and trailer values, cargo, and O/O status determine which coverages you need most and how much they will cost. The Federal Motor Carrier Safety…Read More
Repairing and maintaining your trucks and equipment is a huge investment. In fact, the American Transportation Research Institute (ATRI) reported that in 2016, about 10% of a fleet’s total average costs was due to maintenance. That’s the…Read More
According to a 2017 study by the American Transportation Research Institute (ATRI), labor has ranked as the top cost for motor carriers. It all boils down to a few key factors: driver shortage, rapidly increasing pa…Read More
The current truck driver shortage is no joke, and the economy is feeling the sting. According to American Trucking Associations (ATA), the industry needs about 51,000 more drivers to meet the demands of the top 3 online retailer…Read More
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