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While market conditions for carriers might have peaked, they remain strong and are forecast to remain in the double-digit positive range for the rest of the year, FTR reports.
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FTR announced that it has cancelled its 2021 FTR Transportation Conference due to concerns about the COVID-19 pandemic.
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Stronger freight rates would have pushed FTR’s Trucking Conditions Index to a third straight record, but those gains were offset by a swing in diesel prices. Still, conditions were robust.
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Analysis by FTR shows that unemployment benefits were competitive. In 22 states, the median wage for a heavy truck driver exceeded maximum unemployment benefits by less than $5,000 a year.
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FTR’s 17th Annual Transportation Conference will host two days of truck-specific content covering topics from the recent supply chain disruptions to the driver shortage.
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Although most market factors were not quite as strong in April as they were in March, a reversal of March’s higher diesel prices improved overall trucking conditions.
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The supply of new trucks remains restrained due to supply chain delays, therefore carriers continue to order at healthy rates to secure new equipment by year’s end, FTR officials said.
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Net trailer orders for March rose between 6.4 and 12% over February numbers, to between 27,400 and 29,500 units, FTR and ACT Research reported.
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“You could hardly devise better market conditions for trucking companies as demand is robust in both the consumer and industrial sectors," said Avery Vise, FTR’s VP of trucking.
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While significantly more trucks are needed to handle freight growth, truck production continues to be limited by shortages of semiconductors and various other components, FTR reports.
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