ACT Research: Freight Market Facing Shortages, Bottlenecks and Imbalances
DEC 14, 2020 - 7:19 am
ACT Research released the latest installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report.
“Freight is typically not a backlog business, but in the holiday season of 2020, with imports at record levels, we have a flotilla of containerships off Southern California waiting to unload. This bottleneck suggests strong freight volume growth will continue even after the holiday season as retailers restock inventories,” Tim Denoyer, vice president and senior analyst at ACT Research, said. “The freight market imbalance of strong demand and tight driver capacity should begin to rebalance gradually after the holidays, as there is early evidence of initial easing in the driver shortage. But this month, we add a steel shortage to the list of the economic shocks emanating from COVID-19, which threatens to impact Q1/21 manufacturing activity.”
The monthly 56-page ACT Freight Forecast report provides three-year forecasts for volumes and contract rates for the truckload, less-than-truckload and intermodal sectors of the transportation industry. For the truckload spot market, the report forecasts rates for the next 12 to 15 months.
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