David Hannon, News and Transportation Editor -- Purchasing, 4/15/2004 2:00:00 AM
The impact of the new hours of service rules for shippers is a topic on everyone's minds.
The Federal Motor Carrier Safety Administration reported receiving more than 5,000 calls from truckers on the new rule since it went into effect in January.
Government figures estimate the new rules will save 75 lives, prevent 1,326 fatigue-related injuries, and prevent 6,900 property damage-only crashes annually, saving the American economy $628 million a year.
The prevailing concern among buyers is that the new rules will increase the trucking costs by forcing drivers to spend less time on the road. But just how prevalent is that concern? A recent survey of shippers by Bear Stearns found that only 47% of shippers expect to pay higher rates for trucking as a result of the hours of service rules, while the majority (53%) of respondents expect there to be no impact on rates. Those who predicted a rate increase feel it will be in the 3.5% range on average.
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