The Daily Dash is a quick look at what is happening today in the state of freight.
Freight volumes remain strong
There is little evidence that suggests freight volumes will not continue to remain strong past the fourth of July holiday peak. The outbound tender volume index (OTVI) has declined less after the holiday peak than it did last year falling more in line with freight volumes from 2018. Plus, capacity remains tight as tender rejections stay above 15%.
Seth Holm has more in his weekly freight market wrap-up: Volumes fall post-July Fourth (as expected) but remain strong.
Don’t forget: CVSA’s Safe Driver Week starts Sunday
Higher speeds and less braking has been the norm during the COVID-19 lockdowns across the U.S. As traffic increases on the highways though, drivers need to be extra careful with safe driving, especially starting Sunday as Safe Driver Week starts.
Clarissa Hawes has more on the enforcement details and Samsara’s study of speeds and braking, Don’t forget: CVSA’s Safe Driver Week starts Sunday.
Tesla’s stock continues its run
Tesla overtook Toyota as the most valuable automaker on July 1, and its stock is still ripping higher closing on Friday at $1,544.65. This gives Tesla a market capitalization of just over $286 billion. In another round of good news for the company, a school district outside of Austin approved $46 million in property tax breaks to build Tesla’s new $1 billion factory within its district.
Alan Adler has more on Tesla’s stock gains, Tesla shares crack $1,500 as stunning run continues and Noi Mahoney details Tesla’s factory updates, Tesla gets tax break for proposed $1 billion factory in Austin, Texas.
Stories we think you’ll like:
Daimler Trucks recalling nearly 183,000 Freightliner Cascadias
Port of Long Beach posts 11.1% container decline
United Airlines to cut 4,700 employees in Houston, Dallas
China logjam, stubborn storage buoy tanker rates
Did you miss this?
Everyone in the industry has been discussing which trucking and logistics companies took loans from the Paycheck Protection Program (PPP). Dr. Jason Miller from Michigan State University analyzed which manufacturing sectors and regions were the most active with PPP loans.
You can learn more about Dr. Miller’s findings here, Paycheck Protection Program loans in manufacturing.
Hammer down, everyone.