ATA Reports new Turnover rate

The American Trucking Associations (ATA) reported that the "Annualized turnover rate at large U.S. truckload fleets climbed two points to 99 percent in the second quarter of 2013". 

Costs will be higher for fleets due to the changing of HOA Rule, CSA, and the turnovers will make it a tough market for qualified and experienced drivers. However, truckload fleets with less than $30 million in annual revenue has held steady at 82 percent while the less-than-truckload fleets dropped down to 6 percent (which is 3 percent lower than last year).

Broker and Freight Forwarder Bond Law begins October 1

The FMCSA will be implementing a new broker law beginning Oct. 1 and it will affect anyone acting as a broker or a freight forwarder, including motor carriers who broker loads. The law states that they are required to register and obtain broker or freight forwarder authority from FMCSA. Included in the list of provisions is the bond increase from $10,000 to $75,000 for brokers and freight forwarders. Furthermore, "brokers and freight forwarders will also now be subject to a minimum $75,000 financial security requirement."

Read the whole storey: Fleet Owner