Trucking Recovery Moves Into the Fast Lane

NEWARK, N.J., June 21 /PRNewswire/ -- After dramatic rate cutting and fleet downsizing over the last three years, trucking is regaining its footing, leading to sharp price increases this year for some shippers, according to the June 21 edition of The Journal of Commerce. Truckload is leading the industry with an overall rise in rates of 8 to 9 percent over 2009. Shippers are scrambling to lock in capacity and favorable pricing but the growth's longevity is the unknown factor.

(Photo: http://photos.prnewswire.com/prnh/20100621/NY24237)

(Photo: http://www.newscom.com/cgi-bin/prnh/20100621/NY24237)

Trucking's recovery has lagged that of ocean, rail and air but it appears to be catching up. Demand has risen 24 percent from last year and 14.4 percent in May alone. For contract shippers, truckload rates are up 3 to 5 percent, 10 percent and higher for third-party freight brokers and several times that on the spot market.

"We have an explosive situation that's just starting to ignite," said Data2Logistics' Executive Vice President Harold B. Friedman. He said he expects overall rates will reach 10 to 12 percent in the next few months.

This week's Cover Story analyzes this critical turning point for an industry that has struggled as long, or longer, than any other transportation mode during the recession.

To view daily news visit www.joc.com. For all media enquires, including article reprints, please contact Editorial Director Paul Page.

Since 1827, The Journal of Commerce has been the most trusted source of intelligence for international logistics executives to help them plan global supply chains and better manage day-to-day transportation of goods and commodities in the United States and internationally.

To become a member of The Journal of Commerce click here. JOC members have access to our weekly print and digital magazine and Web site, as well as a 10% discount on all JOC Events and trade shows, UBM Global Trade Directories and select PIERS products. Authoritative editorial content in the form of daily news, weekly analysis and regular features ensure our members have the information and data necessary to understand the issues facing trucking, rail and maritime transportation. Members enjoy access to "By the Numbers," an exclusive weekly compilation of key industry statistics that provides detailed views of current market trends across all modes. Regular market intelligence reports -- utilizing PIERS trade data -- include Top 100 Imports and Exporters, quarterly Top 40 Container lines, Transpacific and Transatlantic Maritime Forecasts and Top Container Ports and Terminals. Market-sector supplements, including Breakbulk, Cool Cargoes, 3PL, JOC Guide to Trucking and others, ensure all modes are comprehensively covered.  

About UBM Global Trade - UBM Global Trade, formerly Commonwealth Business Media, Inc., has been the leading provider of proprietary data, news, business intelligence and analytical content supporting commercial maritime, rail, trucking, warehousing and logistics industries worldwide since 1827. The company's portfolio of more than 100 online, print and interactive workflow business solutions includes The Journal of Commerce, The Journal of Commerce Events, PIERS Global Intelligence Solutions and an array of international trade and transportation databases and directories. UBM Global Trade, a subsidiary of United Business Media Limited, is headquartered in Newark, NJ, with offices throughout the United States and in Canada and Hong Kong. For more information, explore www.ubmglobaltrade.com or call 877-675-4761 (+1-847-763-4932 outside the U.S. and Canada).

SOURCE The Journal of Commerce

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