Every year brings new things to the transportation industry. Over the past half decade or so, trucking companies and logistics providers have been facing extreme cost pressures. When spot rates spiked in 2021, reaching all time highs in many areas, the transportation industry added a lot of truck drivers and single-person trucking companies.
Today, trucking is in a freight recession and has an outsized quantity of supply. Together, these forces have kept rates within the dry van and open-deck freight markets at low levels for the past 18 months.
Watch the video above for more information on what I expect 2024 transportation industry to hold for trucking companies, shippers and logistics stakeholders of all kinds.
Your next step is to check out my Truckload Transportation Industry Forecast 2024.