PRIMO LEADING NEWS
WEEK JUL 7TH TO 12TH
Hurricane Beryl, intensifying as it hit Texas, caused widespread power outages, flooding, and disrupted flights, impacting over a million residents and businesses. Evacuations were ordered as the storm, which previously devastated parts of Mexico and the Caribbean, prompted flood warnings and extensive preparations along the Texas coast. PRIMO’s integration of robust logistical strategies mitigates disruptions caused by such natural disasters, ensuring that essential supplies and services are rerouted efficiently to affected areas.
In 2023, the trucking industry faced a record high operational cost of $2.270 per mile, driven by increases in costs excluding fuel, despite a decrease in fuel expenses. Marginal costs per hour slightly rose, with significant growth in truck and trailer payments, driver wages, and insurance premiums, amidst a soft freight market and higher deadhead mileage contributing to reduced profitability. PRIMO’s robust network and pricing intelligence directly address these rising operational costs by optimizing load-matching and reducing deadhead mileage, ensuring more efficient and cost-effective freight management for their clients.
The trucking industry experienced a decline in combined parts and labor costs by 2.3% year-over-year in the first quarter, with parts costs decreasing more significantly than labor costs. This trend is largely attributed to an increase in new truck availability and resolving supply chain issues, although labor costs are still pressured by a shortage of new technicians. PRIMO’s robust network and advanced freight management solutions address these industry challenges by facilitating more stable and predictable logistics costs.
In 2023, the transportation industry experienced a 181% increase in data breaches, totaling 101 incidents, the highest year-over-year rise among all sectors. This spike highlights a critical vulnerability as the sector adapts to more technology-driven operations. PRIMO’s robust freight management solutions, with enhanced cybersecurity, directly address this growing threat, ensuring safe and secure logistics operations.
Autonomous trucking is advancing through extensive longhaul testing in the Southwestern U.S., ensuring the technology can reliably handle diverse road conditions and cargo types. This meticulous testing approach aims to build consumer confidence and prepare for broader national implementation. PRIMO’s integration capabilities can significantly ease the transition into autonomous logistics, addressing the industry’s need for reliable and adaptable freight solutions in an era of evolving.