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Overall freight revenue will grow by 63.6% to $1.3 trillion annually in 2024 and trucking will see its share of those revenues rise to 81% from 80.7% in 2012.
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“I think it’s pretty astounding this economy continues to grow when you think about the shocks it’s taken," said Bob Costello, chief economist & vice president, American Trucking Associations, speaking at TMW Systems’ Transforum user conference in Anaheim, Calif., Tuesday.
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The third-quarter Transport Capital Partners survey reveals more carriers expecting to see volumes and rates grow over the coming months. In this quarter’s survey, more carriers are expressing optimism for increases in volumes and rates. Slow, steady growth in the economy has led the freight market into positive territory. And carriers are sharing their expectations for improved results.
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ANAHEIM -- The trucking industry is looking at a severe capacity crunch in coming years with a variety of factors contributing to the situation, according to Bob Costello, chief economist of the American Trucking Associations.
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Paul Kokalis has been named president of Fontaine Modification. With more than 25 years at Fontaine Modification, he most recently served as vice president of operations for the company, which is part of the Marmon Highway Technologies Commercial Truck group.
Read More →ASF Intermodal has also announced that the company has expanded its operations to include over-the-road domestic services.
Read More →The average selling price of total reported Class 8 used trucks continued to hold up better than expected in August, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research.
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The Federal Motor Carrier Safety Administration and the Pipeline and Hazardous Materials Safety Administration are set to publish a joint final rule Wednesday in the Federal Register regarding the transportation of hazardous materials as part of an effort to reduce crashes at railroad crossings.
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The American Trucking Associations' advanced seasonally adjusted For-Hire Truck Tonnage Index increased 1.4% in August after falling 0.6% in July. The latest gain was the largest since May.
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There could be a lot more freight for trucking to move in the future from the nation’s manufacturing sector.
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