"On Sunday, police nationwide began enforcing rules requiring most big rigs to use electronic logging devices to record driver hours. While truckers have long been barred from driving more than 11 hours a day, the new ELDs prevent them from fudging their times on paper logs. That means more trucks are likely to be parked when drivers hit their limits. . . .
The ELD rules add another choke point for freight prices, which are already pinching earnings at companies from Cheerios maker General Mills Inc. to retailer Ross Stores Inc. A driver shortage, surging demand and rough weather already have pushed spot rates up 28 percent this year through March 23 compared with a year earlier, according to data compiled by Bloomberg.
Even longer-term contract rates, which are more stable than short-term spot prices, are expected to rise 12 percent this year, according to consulting group FTR Transportation Intelligence. That would be the highest increase in more than a decade. Contract prices rose just 3.9 percent last year."
Get more information here: Trucking Prices Set for New Surge as U.S. Keeps Tabs on Drivers – Thomas Black, American Journal of Transportation
We are atts
Proven freight brokers helping shippers and purchasing professionals navigate the complicated world of shipping.