VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4, 5 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 10:54:49 4/19/23 Wed
Author: Jasper
Subject: Recession in freight hauling right here in River City.

.
According to Bloomberg, the latest data from American Trucking Association shows the truck tonnage index dropped 5.4% in March versus February, the largest decline since Aug. 2012.

"Falling home construction, decreasing factory output and soft retail sales all hurt contract freight tonnage," said Bob Costello, chief economist for the ATA.

"The freight market is one of the most volatile markets on the planet. Hot markets can turn ice cold in a flash, particularly after the federal government and central bankers flooded our economy with so much liquidity and then proceeded to institute the fastest monetary tightening cycle in history," supply chain data firm FreightWaves said.

FreightWaves pointed out, "The freight market downturn is a thing of the past. The freight recession has come, and carriers, regardless of whether they operate in the contract or spot markets, are having to contend with it."

FreightWaves' data also shows spot rates of truck hauls have plunged over the last 12 months, tender volumes are sliding, and there's a trucking overcapacity issue.

Despite all the gloom, Ravi Shanker, Morgan Stanley transportation equity analyst, recently told clients besides "all the bad headlines and mixed data points on macro, our latest quarterly Shipper Survey keeps showing signs of improvement under the surface."

Well, that depends if the consumer can survive even more tightening of monetary conditions as the Fed is expected to increase interest rates by 25bps next month to around 500bps.

https://www.zerohedge.com/markets/freight-recession-highlighted-largest-cargo-drop-pandemic

[ Next Thread | Previous Thread | Next Message | Previous Message ]

[ Contact Forum Admin ]

Forum timezone: GMT-5
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.