The Weekly Freight Report for June 11, 2020
The Top 8 Stories in Freight
Volumes soar… produce pops… transportation jobs bounce… cold chains surge… and cross-border freight has some golden rules. Get caught up on the top stories with The Weekly Freight Report:
1. Volume Hits New Three-Year Height
Freight continues to climb. With produce season popping and manufacturing plants opening back up, volume has peaked at a new three-year high. While there are some capacity hot spots in the West Coast and Southeast… overall capacity remains relatively plentiful. If volumes continue to climb shippers should expect that to change. Get the details here.
2. The 3 Golden-Rules of Cross-Border Freight
When it comes to cross-border freight, a simple mistake could cost your business thousands. There are three things you need to know u[-front… think of them as the 3 Golden Rules for Cross-Border Freight. And these three rules could be the difference between a perfectly executed shipping experience and an international freighmare. Check them out here.
3. Produce Season Delivers Higher Rates
Produce season continues to pop. It’s brought much needed volume to a suffering industry… but, it’s not all good news. A look inside the numbers show that rates are considerably higher than last year once you strip away the fuel differences… Given that volumes and rates are low for carriers… it sets up second half scenario that could be troublesome for shippers that have “locked in” low rates… Get the details here.
4. The Future of Supply Chains to Change Permanently
Consumer spending habits and global logistics changes brought about by the pandemic will have lasting effect. Seems permanent structural change is inevitable. Freighwaves brings an interesting perspective on how companies will move forward. Here’s what’s in the works.
5. Pros Say ‘No Need to Stress Invest in America Act’
Congress’s new Invest in America Act could force the DOT to pause its new HOS adjustments. And while this is frustrating news for many in the industry… it likely won’t happen. With amendments and time constraints, it’s highly unlikely the bill will pass before HOS adjustments go into effect Sept 29th. Need some more reassurance? Get the full article here.
6. Cold-Chain Expected To See a ‘U’ Shaped Recovery
As restaurants reopen, shippers are expecting to see cold-chain recovery heat up this summer. But, It won’t be an overnight recovery. While retail grocery stores are still seeing a boom, meat demand has been frozen in its tracks. Experts predict growth to be gradual. Get the full details here.
7. Canada’s Transportation Sector Rebounds
Great news for Canadian freight! Canada added 290K transportation and warehousing jobs back to the market in May. And the sector that makes up for most of these jobs? The trucking industry. Jobs are only expected to increase as the economy continues to recover. Get the full story here.
8. U.S. Trucking Sees Employment Jump
The U.S. trucking sector saw the addition of 12K jobs in May. And for shippers worried about capacity, this is good news. No doubt, the U.S. economy is headed for recovery… but JOC says it will be 2022 before economic output gets back to 2019 levels. Get the full report here.
Need help moving freight across North America? FLS can help. Our network of 54,000 carriers and 400,000 trucks is a great asset to any shipper… and our service levels are impeccable. Give us a try… Get a quote today!