Skip to content
Search AI Powered

Latest Stories

newsworthy

CRST hikes driver pay by $10 million at expedited unit

Truckload carrier will base increases on various factors.

CRST International said today it would award $10 million in pay increases over the next 12 months to the 3,500 drivers of CRST Expedited Inc., its largest operating unit. The increase is the largest in the Cedar Rapids, Ia.-based truckload carrier's 58-year history, the company said.

Pay increases will take effect on Oct. 15, CRST said. The extent of increases will vary depending on a driver's tenure, performance, and the length and types of routes driven, Cameron Holzer, president of CRST, said in a statement.


Newly hired drivers will also be eligible for pay hikes, the company said.

"Our investment in our drivers is intended to help attract new drivers to the industry, as well as retain our existing drivers for the long term," Holzer said in the statement. "Our drivers are the heart of our organization and need to be compensated for the hard work and dedication they provide."

CRST's action comes as truckers strive to attract drivers and, perhaps most importantly, retain qualified drivers during a time when good labor is in high demand and drivers face increasing cost pressures from the recently implemented federal Hours-of-Service (HOS) rules which have reduced a driver's workweek hours. Drivers for truckload carriers make, on average, close to $50,000, levels considered low given the importance of the work and the length of time long-haul drivers are away from home.

In the first quarter of 2013, quarterly turnover at large truckload fleets—fleets with at least $30 million in annual revenue—rose to an annualized rate of 97 percent from 90 percent in the fourth quarter of 2012, according to data from the American Trucking Associations (ATA). The rate was the highest since the third quarter of 2012, when it was 104 percent. It was just below the average rate in 2012 of 98 percent, ATA said.

At smaller truckload fleets, the turnover rate rose to 82 percent in the first quarter from 76 percent in the previous quarter. The rate matches the 2012 annual average, but is below the most recent high of 94 percent in the third quarter of last year, ATA said. The first-quarter data is the latest available on driver turnover.

The Latest

More Stories

From pingpong diplomacy to supply chain diplomacy?

There’s a photo from 1971 that John Kent, professor of supply chain management at the University of Arkansas, likes to show. It’s of a shaggy-haired 18-year-old named Glenn Cowan grinning at three-time world table tennis champion Zhuang Zedong, while holding a silk tapestry Zhuang had just given him. Cowan was a member of the U.S. table tennis team who participated in the 1971 World Table Tennis Championships in Nagoya, Japan. Story has it that one morning, he overslept and missed his bus to the tournament and had to hitch a ride with the Chinese national team and met and connected with Zhuang.

Cowan and Zhuang’s interaction led to an invitation for the U.S. team to visit China. At the time, the two countries were just beginning to emerge from a 20-year period of decidedly frosty relations, strict travel bans, and trade restrictions. The highly publicized trip signaled a willingness on both sides to renew relations and launched the term “pingpong diplomacy.”

Keep ReadingShow less

Featured

forklift driving through warehouse

Hyster-Yale to expand domestic manufacturing

Hyster-Yale Materials Handling today announced its plans to fulfill the domestic manufacturing requirements of the Build America, Buy America (BABA) Act for certain portions of its lineup of forklift trucks and container handling equipment.

That means the Greenville, North Carolina-based company now plans to expand its existing American manufacturing with a targeted set of high-capacity models, including electric options, that align with the needs of infrastructure projects subject to BABA requirements. The company’s plans include determining the optimal production location in the United States, strategically expanding sourcing agreements to meet local material requirements, and further developing electric power options for high-capacity equipment.

Keep ReadingShow less
map of truck routes in US

California moves a step closer to requiring EV sales only by 2035

Federal regulators today gave California a green light to tackle the remaining steps to finalize its plan to gradually shift new car sales in the state by 2035 to only zero-emissions models — meaning battery-electric, hydrogen fuel cell, and plug-in hybrid cars — known as the Advanced Clean Cars II Rule.

In a separate move, the U.S. Environmental Protection Agency (EPA) also gave its approval for the state to advance its Heavy-Duty Omnibus Rule, which is crafted to significantly reduce smog-forming nitrogen oxide (NOx) emissions from new heavy-duty, diesel-powered trucks.

Keep ReadingShow less
screenshots for starboard trade software

Canadian startup gains $5.5 million for AI-based global trade platform

A Canadian startup that provides AI-powered logistics solutions has gained $5.5 million in seed funding to support its concept of creating a digital platform for global trade, according to Toronto-based Starboard.

The round was led by Eclipse, with participation from previous backers Garuda Ventures and Everywhere Ventures. The firm says it will use its new backing to expand its engineering team in Toronto and accelerate its AI-driven product development to simplify supply chain complexities.

Keep ReadingShow less
chart of global trade forecast

Tariff threat pours cold water on global trade forecast

Global trade will see a moderate rebound in 2025, likely growing by 3.6% in volume terms, helped by companies restocking and households renewing purchases of durable goods while reducing spending on services, according to a forecast from trade credit insurer Allianz Trade.

The end of the year for 2024 will also likely be supported by companies rushing to ship goods in anticipation of the higher tariffs likely to be imposed by the coming Trump administration, and other potential disruptions in the coming quarters, the report said.

Keep ReadingShow less