The Weekly Freight Report for February 24th, 2022
The Top 5 Headlines in Freight, Transportation, & Logistics from FLS Transportation
Here’s this week’s Weekly Freight Report February 24th:
- Nancy and Oaklee bring ice, snow & rain this week.
- US/CAN border crossings clear after police intervention.
- Shippers have been getting a bargain on carrier services… until now.
- Ukrainian-Russian conflict will escalate all transportation costs, not just the sanctioned goods.
- US truckers plan to copy the Canadian protest this week in DC.
Nancy and Oaklee bring ice, snow & rain this week.
Expect transportation delays this week as two winter storms will hit North America this week.First is Winter Storm Nancy, which will impact the entire length of the US & Canadian border dropping snow and rain. Next is Winter Storm Oaklee, which will start in the 4 corners region of the west on Tuesday and move across the US working its way to the Northeast, leaving ice, snow, and rain in its wake.
To see Winter Storm Nancy’s details, click here.
To see Winter Storm Oaklee’s details, click here.
Track your shipments in real-time when weather impacts transit times.
US/CAN border crossings clear after police intervention.
Trucks are being towed and Canadian police have arrested 191 protesters since Friday in an effort to clear roadways. The threat of suspended insurance, frozen bank accounts, and being arrested have motivated truckers to leave the areas where they were blocking traffic. Seventy-six vehicles have been towed and authorities have taken action against 36 commercial vehicle operator registrations. Now that the roads are clear, the work begins to recoup the millions of dollars of trade lost during the almost month-long blockade.
Responses from the government and drivers on the recent developments can be found here.
Shippers have been getting a bargain on carrier services… until now.
The law of supply and demand has never been more real than it is today in the shipping industry. Capacity has been taken for granted for the past 20 years, and thanks to the pandemic… the scales have tipped in the driver’s favor. Contract rates have increased to 59 cents per mile or roughly 25% over the past year. Shippers have been severely underpaying for transportation costs and now have to work hard to get their goods moved… and have to pay a pretty penny for it. See the data here.
FLS has perfected the process of getting loads moved for our customers by quoting fair prices, having a pool of dedicated carriers, and providing personalized customer service. FLS covers every load. Get a quote here.
Ukrainian-Russian conflict will escalate all transportation costs… not just the sanctioned goods.
Just because something isn’t happening on North American soil doesn’t mean it can’t have dramatic effects on our economy… especially something as big as an impending war. Tankers, Dry Bulk, and Container freight transportation markets can expect increased costs due to the US sanctions on Russian-produced goods, grains, oil, and coal. Expect sanctions for transporting any goods extracted in Russia. Just the tanker market could see 140-150 tankers removed from the global charter market overnight, which will cause rates to surge for transportation imports and exports.
Take a look at the negative consequences the transportation market could experience here.
US truckers plan to copy the Canadian protest this week in DC.
If you live or work in the Washington DC area… get prepared to take alternate routes as at least 3 groups of US truckers plan a copy-cat protest similar to what Canadian truckers participated in this past month. The groups have stated they intend to choke traffic around the capital blocking all lanes to everyone except EMS vehicles along the Capital Beltway, a 64-mile interstate highway in the DC metropolitan area. The US truckers are protesting against mandates for vaccines and masks.
To plan ahead of the convoy’s traffic disruption planned in Washington DC, click here.
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