Trucking news and briefs for Thursday, Aug. 25, 2022:
After rising a half-percent in June, ATA's Truck Tonnage Index fell by 1.1% in July.
“Tonnage declined sequentially in July for only the second time during the last 12 months. Despite the dip from June, tonnage remains at elevated levels and increased significantly from a year earlier,” said ATA Chief Economist Bob Costello. “While tonnage is much stronger than a year ago, the monthly gains have moderated as the year has gone on. The combination of softer consumption of goods, home construction falling and slower manufacturing activity are the main reasons.”
Compared with July 2021, the SA index increased 5.1%, which was the 11th straight year-over-year gain. In June, the index was up 5.6% from a year earlier. Year-to-date, compared with the same period in 2021, tonnage was up 3.4%.
The not seasonally adjusted index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment, equaled 115.5 in July, 5.2% below the June level (121.9). In calculating the index, 100 represents 2015. ATA’s For-Hire Truck Tonnage Index is dominated by contract freight as opposed to spot market freight.
Southern Counties Express, a subsidiary of Universal Logistics Holdings (CCJ Top 250, No. 26) has announced a new partnership with the International Brotherhood of Teamsters Local Unit 848 providing drayage services in-and-out of the Southern Californian ports of Los Angeles and Long Beach.
In a careful negotiation, the parties reached a "best in class" arrangement that is firmly anchored by a strong labor agreement. The agreement will provide the local membership with great benefits, and Universal's customers with AB 5-compliant and reliable services in the Los Angeles and Long Beach drayage market.
