Video: 2020 economic outlook for fleets and shippers
TORONTO, Ont. -- The economic pendulum has swung when it comes to setting trucking rates. Carriers are giving up some of the gains secured last year, particularly in the spot market. But other factors will continue to place pressure on rates in the year to come. Here were some of the related insights shared during the Surface Transportation Summit's presentation on the 2020 economic outlook.
Trucking conditions growing stronger: FTR
BLOOMINGTON, IN - Trucking conditions were up again in September according to analysts at FTR Intelligence. Conditions showed growth of more than 3% month-over-month, despite what they called the weakest recovery on record related to efforts being made following Hurricanes Harvey and Irma. FTR predicts strong demand for truck freight going forward should keep market conditions solidly positive through 2018.
Shipping conditions will worsen in 2018: FTR
BLOOMINGTON, IN - Fuel cost increases following Hurricanes Harvey and Irma, and increased logistic costs for shippers, caused shipping conditions in the United States full-load market to take a negative turn for the month of August, according to analysts at FTR Intelligence. Although the increased fuel costs are temporary, the group says it expects the increase in logistics costs to continue into 2018.