The Weekly Freight Report for March 18th, 2020
The Top 5 Stories in Freight
COVID-19 Leaves No Clear Vision for 2020 Freight Market
A big volume surge… COVID-19’s effects on freight… and a Canadian trucker shortage. There’s a lot happening this week. Get all caught up with the Weekly Freight Report:
1. Panic Purchases Drive Volume Increase
Panic purchasing caused domestic freight volumes to surge to new highs. Shippers trying to restock as fast as possible are driving spot volume and rate increases this week. Get the details here.
2. Unclear Future for Driver Treatment amidst COVID-19
No doubt COVID-19 will leave a dent on the North American trucking market… after a tough 2019 carriers now face the uncertainty of travel restrictions and quarantine… Here’s what’s going on… and what could potentially threaten carriers and shippers in the near future
3. Canada is the Final Country to Approve USMCA
It’s official… Canada has ratified the USMCA. Parliament pushed the decision through before temporarily adjourning due to COVID-19. Mexico and the U.S.A. have already approved the new trade agreement… and with Canada’s stamp of approval, this is a huge win for North America as a whole. Get the play-by-play on this new legislation here.
4. Logistics Industry Steps Up in COVID-19 Chaos
As the public frantically drains store shelves in fear of quarantine… there are people behind the scenes who are working tirelessly to get products back in stores. To the logistics pros, shippers, warehouse operators, dispatchers and truck drivers… we join Freightwaves in saying “thank you” for all you continue to do in the face of crisis. Read the article here.
5. Canada Faces a Shortfall of Drivers
A new report shows Canada has an increasing driver shortage. It’s expected that by 2023 vacancies will grow by 25% from 2019. And it’s more than a carrier issue… the report shows that a lack of drivers will hinder expansion plans and cost the industry over $3B in lost revenues. So, what’s actually causing the shortage? Find out 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!