UCW Logistics’ Post

New list of the Top 100 For-Hire Freight Carriers in 2024 is available from Transport Topics. https://lnkd.in/gPA3GVYi Transportation, supply chain, and logistics leaders will be interested in learning how the prolonged freight recession has impacted their primary freight providers. #freight #ltl #truckload #truckers #shipping #transportation

How are road conditions? There is still a lot of malaise in the road freight arena. Everyone is feeling the pinch. Companies going out have not really made much of an impact as slow period is still stretching on. What about the record volumes at the ports, their impact has not really been felt inland as yet. The 3rd and 4th QTR will see a bounce for all of us in the Road freight Arena, It is busy season for retail and importers are bringing in more volumes. Chin up, we will get through this cycle. #trucking #supplychain #whereisthefreight #pushharder #portswillhelp #truckload #LTL

Check out this week's #CapacityWednesday article! "In other words, trucking capacity has only just now started to peak and potentially roll over. Until this point, while small carriers were getting hammered, larger carriers were still hiring. Because the independents stayed on the road, there hasn’t been a net reduction of trucking capacity until the past few months. Yellow’s failure may represent the opening of a period of capacity reduction, not the culmination." “We haven’t seen capacity reduction at the pace at which many predicted before,” Danaf said. “The market is oversupplied; we still see a wide gap between supply and demand, a gap that’s still larger than what we observed in 2019. Supply is outpacing demand by a significant margin.” #CapacityWednesdaywithPortTMS https://lnkd.in/eR8Uka-X #Freight #Logistics #2PL #3PL #4PL #PortTMS #Freightmanagement #FTL #LTL #Rail #Ocean #Drayage #Volume #Partial #International #Innovation #TMS #Freightbrokers #Efficiency #capacitymanagement #capacity #trucking

The closure of Yellow last year had a major impact on the logistics industry that is still unfolding. As this article highlights, it was the 13th largest trucking company and 9% of the LTL market. TranzAct’s Co-Founder Mike Regan weighs in on how this change is affecting shippers – in short, it’s leading to higher costs for many. #Logistics #LogisticsManagement #SupplyChain #SupplyChainManagement #LTL

Despite capacity softening considerably since the pandemic-era freight boom, other market factors are levying higher operating costs for transportation providers, the likes of which could be passed onto their shipper-customers to varying degrees. Check out today's blog for a closer look: #logistics #logisticscompany #CommerceExpressInc #trucking #truckrates #capacity #transportation

ACT Research's August For-Hire Trucking 🚛 Index signals a positive shift in the trucking cycle, particularly in freight volume, which saw a significant increase📈since early 2022. ⚠ However, it's noted that while this is a positive sign, it doesn't necessarily indicate the end of the freight downturn. #trucking #logistics #AGL #ACT #truckingcycle #freight

🚚 Navigating Cargo Transport in Illinois? 🌐 Dive into the Essential Factors to Consider before choosing between FTL and LTL Trucking Services with Thinnest Transport! 📦✨ From cost-effectiveness to delivery timelines, this guide breaks down key considerations for a seamless logistics strategy. Trust Thinnest Transport to tailor solutions that match your cargo needs. 🛣️💼 #LogisticsInsights #CargoTransport #FTL #LTL #ThinnestTransport #IllinoisShipping #EfficientLogistics 🚛🔗 https://bit.ly/3La1u8P

June For-Hire Trucking Index Update 👇 The latest release of ACT’s For-Hire Trucking Index continues to reflect a slowly recovering for-hire trucking market. The Volume Index increased 12.7 points in May to 54.4, seasonally adjusted (SA), from 41.7 in April. Carter Vieth, research analyst at ACT Research, commented, “Whether May’s volume increase will hold is an open question, but this matches the best result in 28 months. Roadcheck may have contributed to more loads going to medium and large fleets, of which our respondent base is largely comprised. Positively, freight activity is also increasing at ports, border crossings, and in intermodal volumes.” Overall, truckload volume data remain mixed, with the Cass Freight Index® and DAT spot loads still at cycle lows. The Capacity Index increased by 1.4 points m/m to 45.6 in May but was still the eighth lowest reading in the survey’s nearly 15-year history. Vieth added, “The capacity reading continues to reflect challenging for-hire conditions, with low rates and higher costs driving fleet contraction. For-hire capacity has contracted for the past eleven months and will likely continue as most large fleets have lowered or delayed capacity additions. As demand gradually recovers, for-hire contraction should start to moderate.” Read more survey results here: https://hubs.la/Q02CNBHn0

The downturn in the market has significantly impacted various industry sectors, with the majority of for-hire carriers across multiple segments reporting lower revenues in 2023. This trend highlights the broader economic challenges and uncertainties faced by the transportation and logistics industries. Factors contributing to this decline could include reduced consumer demand, supply chain disruptions, and increased operational costs. The revenue drop among these carriers reflects the widespread difficulties in maintaining profitability and growth in a challenging economic environment.

Check out this week's #CapacityWednesday article. "To the extent that the record new-entrant OOS orders might represent an overall decline in trucking capacity, it adds to evidence that a bursting “capacity bubble” looms, which could result in higher freight rates as the market attempts to readjust." #CapacityWednesdaywithPortTMS #Freight #Logistics #2PL #3PL #4PL #PortTMS #Freightmanagement #FTL #LTL #Rail #Ocean #Drayage #Volume #Partial #International #Innovation #TMS #Freightbrokers #Efficiency #capacitymanagement #capacity #trucking