Plus: Chattanooga floods close I-24 and stall freight, LA port hits its highest monthly volume in 117 years, July sees another spike in trucking bankruptcies, and more.
Funny Freight Friday: You heard him- sing!
Bankruptcy filings and closures are mounting in trucking as tight lending and “zombie carriers” keep rates low, delaying the market correction and prolonging a multi-year freight recession.
Amidst a surplus of supply and dropping demand, contract rates in the dry van truckload market continue to experience a downward trend.
Convoy adjusts staffing levels in response to market conditions, underscoring the challenges and resilience in the logistics sector.
Knight-Swift boosts assets with the $808m acquisition of U.S. Xpress, poised to reshape the logistics industry landscape and market dynamics.
Amid weak freight rates and the influx of new ships, container lines like Zim are struggling, looking for ways to reduce their legacy charter liabilities.
Spot market faces a stagnant bottom due to lack of consistent trends. While there are some rate upticks, major surge in rates seems unlikely without a significant market shift.
Despite the deflationary inflection point in Q1 2023, Pickett Research forecasts a shift towards inflation in the TL rate cycle by Q4 2023.
Despite the rise in US manufacturing spending, the expected impact on trucking freight volumes may not be as significant due to industry specifics.
A Federal Reserve Bank of San Francisco research paper suggests 60% of the US inflation surge since 2021 is due to global supply chain disruptions. An easing of these pressures is now evident with lower freight and container rates.
FedEx Freight is closing 29 locations to streamline its operations, significantly impacting Arkansas and surrounding states.
The South is transforming into the US's new industrial heartland, with investments pouring into sectors such as EV battery production.
Key trends in freight and shipping market of June 2023, with insights into spot market, carrier capacity, LTL sector and cross-border shipping.
Check the varying trends for 30-day average dry van rates in the Greenscreens Network across different routes as of June 19, 2023. Rates subject to market and seasonal factors.
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