Our Blog

Diesel Costs Cause Problems for Trucking Industry

Posted by Genie Wood on Mon, Nov 24, 2014 @ 11:39 AM

Many Americans are rejoicing at the lowered fuel costs as of late, with some places in Oklahoma City hitting as low as $2.24. However, though regular fuel costs have plummeted lately, costs for diesel remain high. In Oklahoma, diesel costs as much as $3.89 per gallon. Prices for diesel fuel fluctuate based on a number of different factors including: global crude oil prices, federal and local taxes, the costs of delivering fuel to customers, and the weather.

As the polar vortex descends upon the United States early this year, the colder weather is one of the major causes of diesel expenses. When the weather is particularly harsh, drivers must keep their trucks running throughout the night to keep warm. The weather can also slow truck drivers down considerably on the road. All of these factors combine to make fuel costs even more of a burden for drivers and trucking companies. 

While fuel costs may slow some companies down in the coming months, the experienced team at TBS Factoring Service is dedicated to ensuring that truck drivers and companies have access to the cash flow they need, when they need it. If you have customers that will not pay their invoices, we can assist you in getting back on track financially. Call (800) 207-7661 today to speak with one of our team members about what we can do for you. 

Tags: Fuel Costs, TBS Factoring Service, freight factoring, Trucking Industry, Diesel

Trucking salaries expected to rise to help with driver shortages

Posted by Genie Wood on Sat, Oct 18, 2014 @ 02:19 PM

The trucking industry has been experiencing a shortage of drivers for several months now, and unless something changes, this shortage is likely to only increase. As such, many trucking companies have announced that they will be offering wage increases to both new and experienced drivers in an attempt to attract new drivers to the job, and to try and retain the drivers that they already have.

In fact, according to the president of the Americas Commercial Transportation Research Co., Kenny Vieth, driver wages could increase as much as 6% in order to help close the gap between the number of existing drivers and what seems to be a never-ending increase for driver demand. 

Much of the increase in shipping needs in recent months has come as a result of the United State's recent energy boom, particularly in natural gas. Many regions in the U.S., such as the Eagle Ford Shale region of Texas, are experiencing unprecedented amounts of energy production, all of which necessitates specialized heavy hauling services. 

Truck driver shortages is only one of many challenges facing trucking companies and independent drivers in the U.S. For many, while business may be booming, financial constraints can still be significant if and when customers fail to make timely payments on their invoices. If you’re experiencing difficulties making ends meet because of late or non-payments, the experienced freight factoring experts at TBS Factoring Service are here to help. Call us today at (800) 207-7661 to find out what we can do for you.  

Tags: TBS Factoring Service, freight factoring, Trucking Industry

Trucking companies petition FMCSA to remove public CSA scores

Posted by Genie Wood on Fri, Sep 19, 2014 @ 11:07 AM

A number of different trucking companies are calling on the Federal Motor Carrier Safety Administration (FMCSA) to no longer make Compliance, Safety, and Accountability scores, along with other safety data, available to the public. Those petitioning the FMCSA claim that the information presented in this data contains statistical flaws that the FMCSA has done nothing to address, although it has been brought to their attention numerous times.

The groups and companies involved in this petition sent a joint letter to the FMCSA just weeks after both the American Trucking Associations and the Owner-Operator Independent Drivers Association also requested that CSA data be removed from the FMCSA's website.

This is not the first time that groups within the trucking industry have petitioned to have such information removed. Earlier this year, a legal case was dismissed in which the Alliance for Safe, Efficient and Competitive Truck Transportation (ASECTT) brought a case against the FMCSA to have this safety data removed from public view, claiming that the FMCSA presented this information without addressing some of the flaws with the data, which could have significant effects on drivers' and companies' business.

Trucking companies and independent drivers face a number of substantial challenges in the course of doing business, but one of the most significant is cash flow problems caused by clients failing to pay their invoices on time, if ever. Fortunately, the team at TBS Factoring Service is here to help. Our truck factoring services can help you make ends meet even when your clients fail to make timely payments. Call us today at (800) 207-7661 to learn more about how we can help you.

Tags: freight factoring, FMCSA, trucking factoring, TBS Factoring, CSA data

ATRI Releases 10th Annual Survey of Trucking Industry Concerns

Posted by Genie Wood on Tue, Aug 19, 2014 @ 10:55 AM

The American Transportation Research Institute has issued its 10th annual survey of some of the greatest concerns in the trucking industry. This survey is released every year and trucking industry stakeholders are asked to rank some of the greatest areas of concerns within the industry. 

According to Philip Byrd Sr., chairman of American Trucking Associations, it is important to take these concerns into account now in order to address them and prepare for the future health of the industry. The American Trucking Associations commissioned the survey, and it is available to complete online by clicking here. The results of the survey will be announced at the American Trucking Associations' Management Conference and Exhibition in San Diego on October 4-7. 

Of all the difficulties facing drivers and trucking company owners, late payment, or non-payment, from clients is certainly one of the most challenging. Fortunately, the team of freight factoring specialists at TBS Factoring Service are here to provide you with the financial support you need to stay in operation. Learn more about our full range of services by calling us today at (800) 207-7661. 

Tags: TBS Factoring Service, freight factoring, Trucking Industry Concerns

Trucking Industry Revenue Projected to Increase

Posted by Genie Wood on Wed, Jul 23, 2014 @ 12:01 PM

Overdrive Online recently reported that in the next ten years the trucking industry’s revenue will increase as the amount of freight moved also increases. This information was gathered in a U.S. Freight Transportation Forecast conducted by the American Trucking Association (ATA). The ATA is a national advocacy group that aims to keep the trucking industry profitable, innovative, and environmentally sustainable.

From 2015 to 2025, the forecast predicts that freight tonnage will increase nationally by nearly a quarter at 23.5%, which will easily increase the demand for drivers, freight carriers, and other service providers necessary to the success of the trucking industry. Additionally, as the amount of goods hauled increases, the profitability of freight trucking is projected to increase by nearly 72%.

Amid a stream of technological innovations and the trucking industry’s continued growth, TBS Factoring Service is dedicated to helping drivers and trucking companies find solutions to their cash flow concerns. If you are interested in learning more about what our factoring service can do for you, give us a call at (800)207-7661 today.  

Tags: growth, TBS Factoring Service, Trucking Industry

Demand for Truck Drivers High

Posted by Genie Wood on Mon, Jun 23, 2014 @ 04:52 PM

Across the United States, the demand for qualified truck drivers is quite high, with some officials saying that the industry overall is in need of as many as 30,000 drivers. However, some in the Texas transportation industry are saying that the same number of drivers is needed in Texas alone. 

The need for such a high number of drivers in the Lone Star State is largely due to the incredible amount of energy production taking place in the state's Eagle Ford Shale. In fact, demand for trucking has increased significantly nationwide because of an increase in energy production. 

At TBS Factoring Service, we know that understaffing is just one of the many problems facing trucking company owners, and we are dedicated to providing support to trucking companies and independent truckers in a variety of ways. To learn more about how we can help through our freight factoring services, contact us today at (800) 207-7661. 

Tags: TBS Factoring Service, jobs, Trucking Industry

New Regulations on DOT Physicals Go into Effect

Posted by Genie Wood on Thu, May 22, 2014 @ 02:44 PM

The Federal Motor Carrier Safety Administration (FMCSA) is pushing ahead with new regulations requiring truckers to undergo their USDOT physicals with a health professional who is listed on the National Registry of Certified Medical Examiners. At the expiration of a trucker’s current medical certificate, therefore, it will be necessary to ensure that the practitioner performing the physical meets this requirement in order for it to be considered valid.

Organizations such as the American Trucking Association (ATA) and other groups had requested a six-month delay before the regulations take effect, citing concerns that there may not be an adequate supply of physicians who meet these new guidelines in order to allow truckers throughout the country, particularly in rural areas, to continue doing their jobs. Nevertheless, the FMCSA has decided not to delay the requirements.

At TBS Factoring Service, our focus is always on helping independent trucking operators adapt to the challenges they face on the road. To learn more about the services we offer and what we can do for you, contact us today by calling 800-207-7661.

Tags: New Regulations on DOT Physicals Go into Effect, TBS Factoring Service, trucking regulations, trucking news

ATRI Analysis Challenges FMCSA Study Findings

Posted by Genie Wood on Thu, Apr 24, 2014 @ 02:30 PM

A recent analysis conducted by the American Transportation Research Institute (ATRI) has found flaws in the Federal Motor Carrier Safety Administration’s (FMCSA) study concerning the efficacy of the federal agency’s new 34-hour restart rule.

The rule, which is designed to help reduce fatigue among truck drivers in order to prevent accidents, has been controversial since its announcement, particularly in light of the considerable number of new regulations the agency has announced in the past two years, a total of 29 new rules governing how truckers have to operate. The FMCSA had used the study in order to show that the 34-hour restart rule significantly decreased reported fatigue and led to better lane positioning.

However, ATRI has documented a considerable number of design flaws in the study, including problems such as failing to differentiate between drivers who had taken a 34-hour restart and those who had been off duty for longer periods of time; findings that the average lane deviation was only 1/10th of a centimeter greater for drivers in the non-34-hour restart group; and a sample size which may have been too small to offer meaningful insight. Though the FMCSA has disputed these findings, controversy over the rule is likely to continue.

At TBS Factoring, we understand the challenges that truckers may face on the road, and we work to provide freight factoring and other services to independent trucking operators. Contact us today at (800) 207-7661 today to speak with a member of our support staff and learn more about what we can do for you.

Tags: trucking regulations, ATRI, FMCSA, TBS Factoring

Mid-America Trucking Show Starts this Week

Posted by Genie Wood on Tue, Mar 25, 2014 @ 04:52 PM

This year's Mid-America Trucking Show, taking place in Louisville, KY, kicks off this week on March 27th. This 2-day event is the largest of its kind, and is an incredible opportunity for trucking professionals to meet face to face with a variety of vendors and other influential figures and companies in the trucking industry. 

This year's show features a mix of events, including everything from seminars to musical performances to the event's signature expo, and draws trucking professionals from around the country who are looking to learn about new regulations, products, and opportunities to improve their business. 

One of the greatest concerns facing individuals and companies in the trucking industry is the issue of making ends meet financially, especially when dealing with clients who fail to pay their invoices. Fortunately, freight factoring can play an important role in helping truckers secure the finances they need, regardless of a client's willingness or ability to pay on time. To learn more, contact the experienced professionals at TBS Factoring Service today at (800) 207-7661. 

Tags: TBS Factoring Service, freight factoring, Trucking Industry, Mid-America Trucking Show

Trucking Industry Leads the Shift to Natural Gas Engines

Posted by Genie Wood on Thu, Feb 13, 2014 @ 08:34 AM

The abundance of shale fields in the United States has prompted companies to practice hydraulic fracturing as a means to extract and use natural gas. The price of natural gas is cheaper than diesel fuel, which has made natural gas an affordable fuel source for trucking companies. The Energy Information Administration projects that the trucking industry's usage of natural gas will grow at a rate of 11.9% annually for the next 30 years.

Power Solutions International and General Motors have teamed up to provide natural gas engines for trucking companies. The natural gas engines help freight and trucking companies save money while emitting less carbon into the atmosphere.

Despite the growing demand for natural gas in the trucking industry, general car-makers have not yet negotiated a way to use and sell natural gas engines to non-commercial drivers.

The popularization of natural gas within the trucking industry will continue to save companies money, and TBS Factoring Service provides trucking companies with additional financial assistance when needed. To learn more about the services that we provide, contact us at (800) 207-7661. 

Tags: Trucking Industry Leads the Shift to Natural Gas E, Trucking Industry, TBS Factoring