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Thread: Trucking business news

  1. #1
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    Default Trucking business news

    We have been told, repeatedly, that the economy is great. It's not, except for the select 1% crowd.
    We've been told that manufacturing has increased in this country. It has not, in fact it's been in decline.
    Hold on folks. The business of transportation is weakening and the signs all point to a downturn which will affect all trucking / transportation businesses.

    Truckers are warning of a 'bloodbath' as trucking companies go bankrupt or slash their profit expectations
    This year has been rocky for the $800 billion trucking industry.
    After a raucous 2018, 2019 has seen retailers and manufacturers moving less, according to the Cass Freight Index. Freight rates have dipped year-over-year for six months straight. Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year-over-year.
    The earnings of big and small players alike are getting hit as factory activity continues to decline.
    "We have become increasingly convinced that freight is likely to remain weak through 2019 followed by falling truckload and intermodal contract rates in 2020," the UBS analyst Thomas Wadewitz wrote to investors in a June 18 note.
    Bad weather was to blame for some of this year's trucking downturns, and experts have also pointed to increasing uncertainty with tariffs, as President Donald Trump has threatened tariffs of 25% on some $200 billion of goods from China. In February, international air freight sank to a three-year low.
    A study by economists at the Federal Reserve, Princeton University, and Columbia University said the trade war is costing US consumers more than $1 billion per month.
    https://www.businessinsider.com/truc...tations-2019-6
    ABFwife likes this.

  2. #2
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    Default Re: Trucking business news

    Quote Originally Posted by fxstc07 View Post
    We have been told, repeatedly, that the economy is great. It's not, except for the select 1% crowd.
    We've been told that manufacturing has increased in this country. It has not, in fact it's been in decline.
    Hold on folks. The business of transportation is weakening and the signs all point to a downturn which will affect all trucking / transportation businesses.

    Truckers are warning of a 'bloodbath' as trucking companies go bankrupt or slash their profit expectations




    https://www.businessinsider.com/truc...tations-2019-6
    Yep, just ask the guys that work at ABF......................

 

 

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