Transportation TIP List: Week of January 7th, 2018

This week, College Football’s biggest playmakers took center stage at the National Championship. The matchup went into overtime and came down to the final play – proving that details and preparation are essential in game planning. Likewise, our TIP List this week includes the transportation news you need to know to help stay ahead of the competition. Highlights include the impact of the tax law on trucking companies and recent increases in diesel prices – check out the spread below of what’s happening in the industry!

• New Tax Law Will Compel Trucking Companies to Analyze How to Adjust Their Business Models: From large carriers to single-truck fleets, many in the transportation industry are analyzing how the federal Tax Cuts and Jobs Act will impact their income and are formulating strategies to adapt to the new rules.

• Diesel Prices Head Up to Start 2018: Due in large part to cold weather throughout many parts of the country, the average price per gallon of  diesel gasoline saw a significant increase the week of January 1^st, according to data issued by the Department of Energy.

• Trucking Firms Boost Orders for New Vehicles: Trucking fleets in the U.S., Canada and Mexico ordered 37,500 heavy-duty trucks in December, according to ACT Research. That was up 76% from a year earlier and marked the strongest monthly demand for new trucks in three years.

• Intermodal Drayage Market Tightens More in Frigid U.S. Cities: Temperatures in Chicago have been frigid, but the freight market is unusually hot. Intermodal drayage demand in Chicago spiked in the last weeks of 2017 and did not cool off in the first week of 2018.

• Manufacturing Finishes 2017 With Strong Momentum: The Institute for Supply Management reported that the PMI was 59.7 – a reading of 50 or higher indicates growth – in December, which was 1.5% ahead of November’s 58.2. This marks the 16th straight month that the PMI has grown, with the overall economy growing for the 103rd consecutive month.

Which industry trend is having the biggest impact on your operations?