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.
Jonathan Starks, chief operating officer at FTR, says from surging orders on Class 8 trucks, to spot market freight rates that have increased 30% over the same time last year, trucking is continuing to show signs of strengthening.
Recent weaknesses can be blamed on rising diesel prices after hurricanes rocked the Gulf Coast. While those prices haven’t come back down yet, they have stabled in recent weeks, and Starks says he expects the inflated prices to be a temporary factor.
Contract pricing has also started to show increases behind nearly six months of strong spot market increases. Rates in that market continue to be up while the capacity market remains tight.
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