The Daily: May 5, 2022
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Good morning. Ready to begin your Thursday?
'“Why?” is the big question. What is your “why”? Are you asking “why?” enough? Business owners get charged all the time for things that aren’t made clear - so don’t be afraid to ask. Enough nickel-and-dime transactions. Get some clarity.
Check out today’s featured article from Overdrive Online for author Clifford Petersen’s take on why you need to take control of your trucking business. ☕️
“The secret of change is to focus all your energy not on fighting the old but on building the new.”
— Socrates, the father of Western philosophy
Today’s Featured Article:
Ask 'why': On taking control of your trucking business' future | Overdrive (overdriveonline.com)
“Why do some get so upset when others ask the simple question of why? Is it simple fear of those they consider antagonists or contrarian? I hope not. Being bold enough to ask why is the bedrock of invention, of science, of basic discovery.”
The Latest On…
Leadership 🏆
Norman Mineta, Former Transportation Secretary and Infrastructure Champion, Dies - Safety & Compliance - Trucking Info
“Norman Mineta, the former U.S. Secretary of Transportation who recommended the elevation of truck safety by forming a Federal Motor Carrier Safety Administration, died May 3 at age 90.”
Warehousing 📦
Cold chain newcomer Vertical Cold Storage adds three more DCs | DC Velocity
“Venture-backed upstart buys sites in Florida, Nebraska, and North Carolina from United States Cold Storage.”
Warehousing’s Big Chill; Seeking Wheat Suppliers; Resetting Energy Trade | Wall Street Journal Logistics Report
“Big new investment money is heading into cold storage. Private-equity firm Bain Capital and real-estate developer Barber Partners are teaming up on a $500 million plan to build 10 to 15 refrigerated warehouses across the U.S. in the next few years.”
Supply Chain News: Trends in “Big Box” Distribution Centers | SC Digest
“What defines a “big box” distribution center, and what are the key trends in the North American warehouse market?”
Warehouse vacancy rates sink to 27-year low | DC Velocity
“Renters struggle with soaring rents, labor shortages, Savills report says.”
American Economy 🇺🇸
What do Federal Reserve interest rate hikes mean for Main Street? | Fox Business
“The Federal Reserve is expected to announce a 50-basis point interest rate hike on Wednesday in what will be the second of several anticipated increases this year as the central bank seeks to combat soaring inflation, which is at a high not seen in four decades.”
U.S. Freight Industry Downshifts From Hectic Pace for Shipping | 2022-05-04 | SupplyChainBrain
“A gauge of logistics stress in the U.S. economy eased in April as freight transportation cooled, a sign that the broader economy is downshifting to a speed that remains expansionary.”
A record 4.5 million Americans quit their jobs in March | CNN Business
“The US labor market remained on fire in March with a record 4.5 million workers quitting their jobs, new data from the Bureau of Labor Statistics showed Tuesday.”
Health & Safety 🦺
Remote Pod Operation Enables a Safer Alternative to Conventional Trucking | Material Handling and Logistics (mhlnews.com)
“For Einride, going autonomous does not mean losing the value of human intervention.”
Artificial Intelligence 🤖
Artificial and Human Intelligence: An Unbeatable Combination - Inbound Logistics
“Investment in logistics technology—$26 billion in the past seven years—is white hot right now.”
Industry Forecast 📊
Logistics industry growth slows in April | DC Velocity
“Monthly Logistics Manager’s Index fell more than 6 points compared to March as transportation capacity crunch eases, researchers said.”
Will the Skyrocketing Shipping Demand of 2021 & 2022 End Soon? (morethanshipping.com)
“The maritime shipping industry has seen the many ups and downs of positive and negative developments since Covid first emerged over two years ago.”
PACCAR limits truck orders to avoid supply chain uncertainties | Transport Dive
“Truck manufacturer PACCAR’s order backlog is “substantially full for the year in Europe and North America” as unknowns surrounding parts availability and cost have kept it from fully opening its 2023 order board, CEO Preston Feight said on the company’s Q1 earnings call.”
Fuel Tech ♻️
Shippers Turn to Trucking on Carbon Reduction Goals | Transport Topics (ttnews.com)
“As large corporations make bold pledges to achieve carbon neutrality in the coming decades, they are increasingly looking at their supply chains as an opportunity to make progress toward those goals.”
Chevron Joins Gulf of Mexico Carbon Capture and Storage Project (gcaptain.com)
“Chevron will join Talos Energy and Carbonvert in developing the Bayou Bend CCS offshore carbon capture and sequestration project in the Gulf of Mexico off the coast of Jefferson County, Texas.”
ATRI Tallies Impact of Zero-Emission Trucks | Transport Topics (ttnews.com)
“The overall life cycle of Class 8 zero-emission trucks would result in a net decrease in carbon dioxide emissions of just 30% compared with internal combustion engines despite the trucks having no direct tailpipe emissions, according to a just-released study by the American Transportation Research Institute.”
Network Association 🤝
Maersk’s acquisition of Pilot Freight Services is a done deal - Logistics Management (logisticsmgmt.com)
“Maersk officials said that the purchase price is $1.68 billion (USD). “
Fuel ⛽️
U.S. average diesel price shatters all-time high | FleetOwner
“At more than $5.50 per gallon, the U.S. average for trucking’s primary fuel on May 2 shattered the previous record of $5.25 set shortly after Russia invaded Ukraine earlier this year. Diesel is now $2.37 more per gallon in the U.S. than it was a year ago.”
Inflation 💸
Vast majority of small business owners say inflation top concern: Bank of America report | Fox Business Video
“Sharon Miller, president of Small Business and head of Specialty Banking and Lending at Bank of America, notes businesses are 'fueled by consumer spending' and while inflation is a 'concern,' there is some pent-up demand in the economy.”
Cab Tech 🚛
Westport Unveils Hydrogen-Combustion Fuel System - Fuel Smarts - Trucking Info
“Westport Fuel Systems said its H2 HDPI fuel system burns hydrogen in a modified internal combustion engine with almost no carbon emissions and performance superior to that of the base diesel engine.”
Space Logistics 👽
NASA's Nelson: Competitive contracts are making space exploration cheaper (cnbc.com)
“The head of the National Aeronautics and Space Administration on Tuesday discussed a dramatic shift in how the agency plans to issue contracts for its space exploration programs, citing success with cost-saving competitive bids.”
Trade & Border Issues 🗺
EU takes major step toward Russian oil ban, new sanctions | AP News
“The European Union’s top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia and target the country’s biggest bank and major broadcasters in a sixth package of sanctions over the war in Ukraine.”
U.S. Takes First Step Towards Four-Year China Tariffs Review | 2022-05-04 | SupplyChainBrain
“The Biden administration is taking the first step toward a review of tariffs on more than $300 billion in Chinese imports that’s required to keep them from starting to automatically expire in July.”
US LNG deals surge with 30% of planned export capacity sold | AJOT.COM
“About 30% of planned U.S. LNG export capacity has been booked since war disrupted European energy supplies, a dramatic reversal of fortune for as many as 10 new projects stymied by a lack of financing.”
EXPLAINER: What's the impact if Europe cuts off Russian oil? | AP News
“The European Union’s executive commission has proposed phasing out imports of Russian oil within six months.”
Human Resources 📝
Multigenerational Labor Gap Calls for Creative Solutions, Report Says | 2022-05-04 | SupplyChainBrain
“‘Workers can come from only two sources: the population we already have or the population we can gain through immigration.’ That’s the stark message from Emsi Burning Glass Technologies, an analytics software company that provides real-time data on job growth, skills in demand, and labor market trends.”
Manufacturing ⚙️
ISM Report Shows Manufacturing Sector Still Growing | Material Handling and Logistics (mhlnews.com)
“Conditions remain stable in a ‘demand-driven, supply chain-constrained environment,’ says ISM.”
Customer Relations 🤝
Consumers Have the Last (Mile) Laugh - Inbound Logistics
“While the use of last-mile delivery has increased in the pandemic era, the process has experienced various growing pains.”
Ports 🚢
'Politically Difficult' IMO Is Frustrating Top Ship Owners (gcaptain.com)
“By Augusta Saraiva and Olivia Rockeman (Bloomberg) The ocean shipping industry, among the world’s biggest polluters, is asking a key regulator – International Maritime Organization (IMO) – to overhaul its emissions directives so that all carriers are working off the same rulebook as they make the expensive changes needed to cut output of harmful carbons.”
POLA, POLB again push back consideration of container dwell fee to May 6 - Logistics Management (logisticsmgmt.com)
“The Port of Los Angeles (POLA) and the Port of Long Beach (POLB) said late last week that they have again postponed the implementation date for their ocean carrier Container Dwell Fee, which will now not be considered until May 6.”
Marketing Approach 🤳
Marketing Guide for Logistics Businesses To Fuel Growth (readwrite.com)
“Driving growth and awareness for a third-party logistics business or air freight forwarding company can be challenging.”
Rail 🚂
Railroad service issues are examined at STB hearing - Logistics Management (logisticsmgmt.com)
“Railroad service was front and center at last week’s hearing hosted by the Surface Transportation Board (STB), an independent adjudicatory and economic-regulatory agency charged by Congress with resolving railroad rate and service disputes and reviewing proposed railroad mergers.”
Trucker’s Lounge 🧢
People’s Convoy has “learned some stuff since last time” and is heading back to DC (cdllife.com)
“The People’s Convoy says they are ready to head back to Washington DC after a brief stint in California.”
10 takeaways from the House investigation into Yellow | Transport Dive
“n the early months of the pandemic, Yellow Corporation made headlines for teetering on the brink of financial ruin.”
Business Strategy 💡
Is that a speed bump ahead, or a cliff? - Truck News
“Alain Bedard isn’t losing sleep over a freight recession. The chairman and CEO of Canada’s largest fleet, TFI International, parried questions from analysts about a softening freight market during a first quarter earnings call.”
Full out | Seth's Blog (seths.blog)
“It’s thrilling. Nothing held in reserve. All in, leaving nothing behind.”
Shortages 🛒
Can the World Feed Itself? Historic Fertilizer Crunch Threatens Food Security (yahoo.com)
“For the first time ever, farmers the world over — all at the same time — are testing the limits of how little chemical fertilizer they can apply without devastating their yields come harvest time. Early predictions are bleak.”
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The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for July 31, 2025, from iLevel Logistics Inc.