Success and survival for Titan Transline during the global coronavirus pandemic depends on what it is hauling and when. The challenges faced by the logistics and trucking providers during the pandemic are not the same. Those who are involved in the delivery of groceries or medical supplies are busier than those hauling fuel to manufacturers.
The dynamics of the commercial trucking industry has been obviously changed by restrictions on travel and social distancing and with manufacturing coming to a halt particularly in the auto industry. One of the key indicators is the spot market that represents 20% of the industry.
Spot market is considered as the matchmaker between companies that have to load ships and truckers that are looking for loads. If there are more loads than truckers, shipping rates go up which is good for the trucking industry. However, since the middle of March, demand has fallen sharply after the initial wave of replenishment shipments.
According to Sean McNally, the trucking industry has not pushed for specific relief in the Federal CARES Act; instead many truckers applied for SBA, Exchange Stabilization Fund or other tax credits. Through these programs, truckers will have access to liquidity and a bridge to better times in the future.
Meanwhile, private companies have tried to help truckers overcome their financial challenges. One example is rubber giant Goodyear Tire $ Rubber Co. that has partnered with Convoy Freight Network to extend discounts to all carriers in the Convoy system.
Discounts are available for tire purchases through Goodyear’s online store. Carriers in the Convoy system will have exclusive access to Goodyear’s emergency roadside service and network in 2,300 service locations across North America.
The ability to purchase tires at competitive rates will reduce the financial strain among commercial truckers. While most of the population are still confined inside their homes, millions of tons of goods have to be shipped regardless of the physical and financial challenges faced by the trucking industry.
Cost effective solutions are offered by Titan Transline for your logistical needs. When exceptional value is provided to your business, it will evolve to the next level and Titan Transline will become an integral part of the growth.