January 1, 2020, marked a big change for marine vessels. The IMO (International Maritime Organization) has implemented a significant reduction in the sulfur content for the shipping industry in 2020. The reduction brings the previous 3.5% sulfur content (bunker fuel), plummeting down to the new 0.5% sulfur requirement. Goldman Sachs estimates the monetary impact could be as much as $240 billion during the 2020 calendar year.
It is no secret that 2019 has not been kind to the trucking industry. In 2018, 310 freight companies were forced to close down. During the first half of 2019 alone, that number was approximately doubled, showing 640 closures. Looking at data like this, you can understand why the trucking industry is looking for ways to diversify and adapt, to stimulate the LTL industry. With Celadon, one of the industry titans in North America closing their doors, there have been more than a few eyebrows being raised around the industry. In times like this these, communication is key for maintaining peak efficiency across all operations.