How Trucking is doing/ Trends in the Industry - June 2009

from Transport Topics

Logistics Expenses Drop 3.5%
WASHINGTON — The cost of moving and storing goods nationwide fell 3.5% last year, the first decline in logistics-related ex-penses in six years, despite 2% higher transportation expenses. Manufacturers and retailers slashed inventories and excess capacity limited the ability of freight carriers to raise prices, according to a new report

What does this mean for truckers? With shipping capacity tight, they will continue to look at ways of cutting expenses and insurance is one of the larger expenses

from CAB

Trucking is getting more safe which means less non-standard risks- 80.4% of truckers have their vehicles compliant with FMCSA requirements. There are less bad operations on the road. Drivers are 95.7% compliant which is the highest ever
Shipments are up 3.2% and this is a bell weather for the economy improving
While that is going on there has been a lack of capital extended to the industry and less entrepreneurs wanting to venture into trucking and less trucks on the road with registrations down 40% for 2009- so there are less trucks to insure