Archive for October 9th, 2020

Trucker Pay Increasing as Driver Shortage Grows, Industry Capacity Tightens

As capacity tightens in the trucking industry, some carriers are beginning to announce pay hikes. While the frequency of these increases are not yet nearing the rapid pace of hikes the industry saw during the busy year of 2018, some industry watchers said they would not be surprised to see more jumps. “I’ve seen a […]

Lack of passenger flights holds down airfreight

The limited passenger service worldwide is keeping a lid on airfreight volumes, which should be growing faster based on strong global manufacturing activity and retail sales as the world adjusts to the coronavirus. The International Air Transport Association reported this week that air cargo demand in August improved nearly two points from July, but was […]

After an unprecedented punch to the gut, intermodal roars back

Intermodal freight operators entered the year expecting modest gains over a somewhat lackluster 2019 in which the industry handled some 13.7 million rail container units. Then the Covid-19 pandemic hit. Businesses shut their doors and sent employees to work from home. Consumers sheltered in place, unemployment skyrocketed, and the economy contracted to levels not seen […]

Consensus for double-digit truckload rate increases forming

The expectation for truckload (TL) contractual rates to increase by double digits in 2021 is growing. In a Wednesday note to clients, UBS (NYSE: UBS) transportation equities analyst Tom Wadewitz outlined the fundamentals supporting this projection. “The current extreme tightness in the TL spot market plus a constructive outlook on freight point to double-digit rate […]

Intermodal up but rail carloads down last week

U.S. rail traffic on a weekly basis was mixed for the week that ended last Saturday, according to the Association of American Railroads. Intermodal volumes were up but carloads were down. The U.S. freight railroads originated 294,144 intermodal containers and trailers last week, a 5.5% increase from the same period in 2019. But carloads were […]

US import bonanza could extend into 2021 on ‘record’ restocking

No one predicted a U.S. import surge in the middle of a pandemic — but it’s happening. The big question now is: How long can this last? The answer has key implications for ocean spot freight rates and contract renewals, port throughput, and landside volumes for trucking and rail. Investment bank Jefferies issued an exceptionally […]