We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Index: rail volumes and trucking spot rates may have “bottomed out” as industry eyes restart
Forward Thinking

Index: rail volumes and trucking spot rates may have “bottomed out” as industry eyes restart

FTR and truckstop.com collaborate on "Covid-19 Truck Freight Recovery Index," say statistics reveal market trends.

Q1 2020 Intermodal Volume
May 4, 2020
Supply Chain Quarterly Staff
No Comments

Freight rates in the trucking spot market have "bottomed out" and will probably not continue their steep slump caused by Covid-19 business shutdowns and stay at home policies, according to a new industry index created by industry research firm FTR Transportation Intelligence and the digital freight matching platform Truckstop.com.

The "Covid-19 Truck Freight Recovery Index" is designed to provide visibility on the state of the trucking market as anticipation of an economic restart grows, Bloomington, Indiana-based FTR said.

"Because this is not a traditional economic recession, we are watching the dynamics in distinct phases that are unique to this crisis. The freight recovery index shows that a shutdown has been in full swing for several weeks and that freight is mostly bouncing along the bottom as everyone is sheltering at home," Eric Starks, FTR chairman and CEO, said in a release. 

"Once we start to see things picking up, the trajectory of the restart will help us better understand whether this is a 'U-shaped' recovery or a 'V-shaped' recovery. We expect transportation metrics to be a leading indicator of the broader economic conditions," Starks said.

Freight professionals can use the index to gain instant visibility into market trends, as they assess trucking activity in response to the pandemic and to nascent plans for an economic recovery, Brent Hutto, chief relationship officer for truckstop.com, said in a release.

FTR released its findings on the same day it reported that rail freight volumes have also bottomed out, according to the results of another new index from the firm. FTR's "Covid-19 Rail Freight Recovery Index" currently shows that rail volumes in the intermodal and carload sectors are likely near the bottom.

"The FTR Rail Freight Recovery Index provides necessary context to shippers and carriers on how sharp the volume declines have been in response to Covid-19 and how far away from 'normal' the current situation places particular commodity groups," Todd Tranausky, FTR's vice president of rail and intermodal, said in a release. "As the recovery continues and states slowly reopen their economies, the index will provide a valuable tool to the rail supply chain to understand where the recovery is related to pre-pandemic levels."

Those figures were in accordance with other statistics released today, showing that total intermodal volumes declined 6.7% year-over-year in the first quarter of 2020, according to the Intermodal Association of North America (IANA)'s Intermodal Quarterly report. While domestic containers gained 2.2% from 2019, international shipments dropped 11.3% and trailers, 23.3%.

"The coronavirus is the obvious headwind going into Q2, on top of existing trade issues, and no market segment is immune," IANA president and CEO Joni Casey said in a release. "We don't know how long volumes will remain where they are, and recovery will bring its own set of challenges."

  • To see further coverage of the coronavirus crisis and how it's affecting the logistics industry, check out our Covid-19 landing page.
  • And click here for our compilation of virus-focused websites and resource pages from around the supply chain sector.

 

Two new resources are now available to provide you with visibility on the state of the freight markets. View the COVID-19 Truck and Rail Freight Recovery Indexes now through our COVID-19 Intelligence page ?? https://t.co/pugYGFPXGp pic.twitter.com/KiuBbtdDca

— FTR (@FTRintel) May 1, 2020
Trucking Covid-19 Coverage
    • Related Articles

      BookYourCargo Drayage Spot Market Index Indicates Spikes in Rates on the West Coast

      Freight rates dipped again in December, but rebound may be near for trucking cycle

      Trucking industry warns that AB 5 decision could push freight capacity out of California

    Recent Articles by Supply Chain Quarterly Staff

    Containerized freight handler STG acquires Best Dedicated Solutions

    Survey: supply chain professionals wary of rising operating costs

    Nearshoring trend sparks demand for logistics real estate in Mexico

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Report: Sagging freight stats show that trucking sector is returning to its historic mean

    • Survey: parcel delivery drivers are frustrated by using their own smartphones for work

    • Heavy transport across two continents

    • Survey: most Americans unaware that truckers face shortage of parking spaces

    • Supply chain executives not yet seeing expected results from technology investments

    Featured Video

    Household goods customs broker thumb

    Household Goods Customs Broker

    Viewer Contributed
    Household Goods Customs Broker :Gallagher Transport International is a highly experienced customs broker specializing in household goods, providing efficient and cost-effective customs clearance services while ensuring compliance with all necessary regulations. Our Services Include: Importing & Exporting...

    FEATURED WHITE PAPERS

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    • Five tips for parcel success in 2023

    • Guide to Pallet Rack Safety

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing