A recovering U.S. economy is driving record demand for trucking. But many smaller operators, who make up the vast majority of the roughly 470,000 for-hire fleets on the road today, say they’re missing out on the boom.
The amount of freight hauled along the nation’s highways hit an all-time high earlier this year, fueled by improved retail sales and factory output. Trucking industry revenue has grown an average of 6.5% a year since 2009, topping $700 billion last year for the first time, according to the American Trucking Associations.
A New York doctor has been charged with falsely certifying physical exams for commercial drivers.
Gerald Surya, M.D., was charged when a criminal complaint was unsealed Tuesday, Sept. 15, in Brooklyn federal court. The complaint alleges Surya certified that he had examined applicants for CDLs and found them physically fit to drive heavy commercial vehicles when he had not performed the exams.
A Final Rule to require truck operators to use electronic logging devices has been delayed a month, according to a report released this week by the Department of Transportation. The rule is now forecasted to be published Oct. 30.
The rule will take effect two years following its publication, the date by which fleets, owner-operators and drivers must be using electronic logging devices that satisfy the rule’s requirements.
XPO Logistics Inc. said Wednesday it will acquire trucking company Con-way Inc. for $3 billion, capping a run of acquisitions that will make the company one of the largest freight transportation and logistics providers in the U.S.
The acquisition, following the $3.5 billion purchase of French trucker Norbert Dentressangle SA in June, will increase XPO’s annual revenue to $15 billion, more than six times the $2.4 billion revenue reported in 2014, the company said.