The Weekly Freight Report for October 8, 2020
The Top 7 Stories in Freight
The ground noise continues to build on expectations for peak… shipping will face a drivers shortage similar to 2018… elevated volumes are here to stay… the ports are maxed out… grocers try to get ahead of peak demand… and a look at top trends driving the future of logistics.
The hottest stories in freight can be found here, in the Weekly Freight Report:
1. 29 Trends Impacting the Future of Logistics
DHLs 5th annual logistics trend report is out. Turns out bionics and VR aren’t going to be as big as previously hyped, but big data, AI and and IoT are all the rage. Want to peek at the future of logistics? Here are the 29 trends that you should be paying attention to. Check it out.
2. Experts Predict Peak ‘Unlike Any Seen Before’
The ground noise continues to build on expectations for peak… a recent merchant survey along with guidance from North America’s largest shippers indicate this holiday shipping season will be unlike any the industry has seen before. Experts are calling for peak to start sooner, last well into January and reach new record volume levels. Get the full story… and start prepping now.
3. Shipping to Face Driver Shortage Similar to 2018
Clearinghouse…limited training… driving school closures… wage and working conditions… the excuses for the driver shortage go on and on. Regardless of the reason, the current driver shortage is bringing heavy flashbacks of 2018. And new driver data shows that it’s unlikely that this talking point will go away soon. This will force carriers to find inventive ways to encourage drivers to come back into the workforce and stay there… and it will also force shippers to rethink their schedules and budgets. Here’s what’s ahead relative to the driver pool.
4. Elevated Trucking Volumes Are Here to Stay
After a soft freight market in 2019, the long term outlook for North American freight volume is extremely bullish. According to a recent ATA forecast, trucking volumes are expected to grow by 36% over the next decade. Seems elevated freight volumes will remain the new norm for trucking. Take a peek at the full forecast here.
5. Here’s 3 Things Smart Shippers Are Doing to Prepare for Peak
Peak season will be brutal this year. That’s right, in under 90 days we’re going to be in the tightest freight market since 2017. And let’s remember, 2017 was a year that ended with a load to truck ratio of 9.0 and left scars on a lot of financial statements. It’s safe to say it was a disastrous time for logistics planners. The best plan for 2020 is to get ahead of the chaos. Here are 3 things smart shippers are doing right now to prepare.
6. Grocers Enter Holiday Season Prepared
Grocers are taking no chances with stock levels for the upcoming holiday season. In fact, retailers have been prepping for holiday stock for months… which might lead to some demand stability for the first time in a long time. But even if demand stabilizes, there are too many wildcards in the air. Supply Chain Dive warns suppliers, manufacturers, and shippers not to get cozy. Get the details.
7. Tight Capacity Expands Across Transportation Modes
“For lack of a better term, this is crazy”… that’s how a SVP and 30-year shipping industry veteran described the current port activity across North America. Container volumes from Asia are up 91% since March. As we near peak, volumes don’t appear to be slowing down and shippers will be faced with paying a premium to move those containers. Get all the details on the ports here.
Need help moving freight across North America? FLS can help. Our network of 54,000 carriers and 400,000 trucks is a great asset to any shipper… and our service levels are impeccable. Give us a try… Get a quote today!
