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North American freight shipments and expenditures continued to buck the historic trend and increased again in May, according to the latest Cass Freight Index.
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Less-than-truckload carrier Old Dominion Freight Line on Tuesday increased its outlook for growth in second-quarter revenue per hundredweight, excluding fuel surcharges, to a range of 3% to 3.5% from the same time in 2013.
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Freight growth gives fleets confidence to buy, while low cancellations push backlogs to six months. Tankers are also up strongly, but lack of a highway bill could upset dump-trailer business.
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The American Trucking Associations’ For-Hire Truck Tonnage Index increased 1.5% in April, after rising 0.6% the previous month, according to newly released figures. In April, the index equaled 129.1 versus 127.2 in March. The all-time high was in November 2013 at 131.
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Despite a 2.5% decline in the number of loads available and nearly a 1.4% increase in truck capacity on one of the nation’s biggest spot freight markets, rates have picked up.
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The amount of freight carried by the nation’s for-hire transportation industry rose 1.6% in March from February, rising for the second consecutive month, according to the U.S. Department of Transportation’s Freight Transportation Services Index.
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UPDATED -- The contract is between employers who operate port terminals and shipping lines, represented by the Pacific Maritime Association, and dockworkers represented by the International Longshore and Warehouse Union.
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Freight expenditures increased for the third straight month during April while its 2.8% hike follows a 5.4% rise in March and an increase of 6.8% in February.
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In the first quarter of 2014 a total of 206 full-truckload cargo theft incidents in the United States were recorded, according to a new report from logistics security services provider FreightWatch International.
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Total intermodal freight volumes rose 2.6% above the previous year in the first quarter of 2014, according to new figures from the Intermodal Association of North America, despite extreme weather conditions depressing economic activity across much of the continent.
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