The U.S. economy in 2023 will start with weak demand met with mostly adequate inventories. Shippers can expect sufficient freight capacity and lower rates as well as improved distribution center and warehousing availability.
Read moreRegulators move to make it easier for shippers to get government intervention when freight railroad service is delayed, in a bid to resolve supply chain woes in the rail industry.
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Truckload spot van freight hit an all-time high at $3.16 per mile as a weekly average, up 12 cents compared to the previous week.
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The surge is the cost of freight is threatening to boost the price of products across virtually all sectors. One analyst suggests that the longer these extreme shipping freight rates last, the more companies will take measures to shorten their supply chains.
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Freight volumes have expanded beyond pre-pandemic levels. The trucking workforce, meanwhile, has contracted. Still, companies are investing in more trucks and plan to expand.
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As the coronavirus pandemic took hold, it disrupted freight demand, forcing some carriers to furlough drivers while others were quick to hire those drivers as a way to swiftly onboard experienced commercial vehicle operators.
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A YRC executive says a ripple in the massive truckload market can create a tidal wave in the less-than-truckload market, and such a wave may be surging.
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A chronic logjam in a freight yard in Central Illinois has led Norfolk Southern Corp. to rethink how it moves
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