Transportation TIP List: Week of February 25th, 2018
This week, we will flip the calendar from February to March – and the anticipation of upcoming events such as Daylight Saving time, St. Patrick’s Day and the start of spring provides plenty to look forward to. Similarly, this week’s TIP List includes a plethora of optimistic trends impacting the future of transportation. From truckload capacity predictions to an increase in big rig truck orders – check out all the positive industry info below!
- Trucking Companies Ordered Most Big Rigs In 12 Year: In January, trucking companies ordered the most amount of big rig trucks in nearly 12 years, as they hustled to take advantage of the hot freight market. Buoyed by strong demand and flush with cash following the recent tax overhaul, trucking companies are accelerating plans to replace or expand their fleets.
- U.S. Truck Capacity Creeps Up, But Will Not Leap Up: There are signs that U.S. truckload capacity is set to increase as net heavy truck orders surge and large, publicly-owned carriers adjust their truck counts to meet continued strong freight demand from shippers. But any increase in capacity is likely to be incremental and slow.
- Imports Rose Again at U.S. Ports Last Month: Imports rose steadily at the nation’s seaports in January, as U.S. retailers and manufacturers restocked after the holidays and Chinese suppliers stepped up shipments ahead of an annual two-week factory shutdown for the Lunar New Year.
- Will We See an Early Spring for Dry Van Freight?: The national average van rate has fallen for six straight weeks, but that’s typical for mid-February. What’s less typical is that the national average is still higher than it was at any point in 2017. Recently, spot prices have also fallen more slowly compared to previous weeks.
- Chicago Intermodal Rail Delays ‘Unprecedented’ Since January: Major delays are plaguing shippers and logistics providers in Chicago because of a perfect storm of winter weather, intermodal rail yard delays, chassis shortages and tighter truck capacity exacerbated by the ELD mandate.
As we flip the calendar to March, what industry trends do you have on your radar?