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

Intermodal sector weathered a “challenging” year in 2022, IANA says

Freight sector missed the boat on strong U.S. economy in Q3 and Q4, FTR says

Freightos completes plan to go public on NASDAQ exchange, raises $80 million

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

Report Abusive Comment

Most Popular Articles

  • Forecasts call for freight rate slumps in 2023

  • Projected U.S. recession in early 2023 will soften freight market

  • Inflation drops again as interest rate hikes hit home, NRF says

  • How to avoid the next crisis: A new approach to supply chain agility

  • New Jersey truck fleet says Freightliner tractors will deliver safety as well as freight

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

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