Since launching in 2017, FreightWaves’ team of award-winning reporters has covered the good — and bad — news and events in the transportation and logistics industries.
In those years, the freight transportation market has enjoyed prosperous times and periods of pain and misery. The freight market undergoes boom-and-bust cycles, like all commoditized industries.
FreightWaves SONAR correctly predicted the start of a drop in the freight market in March 2022. Since then, the overcapacity spurred by the pandemic has caused freight-hauling rates to drop to 2019 levels — or worse. For the past 18-plus months, there have simply been too many trucks for too little freight.
However, the impact has gone beyond U.S. trucking fleets and freight brokerages. The problems are not confined to the United States or just trucking. Ocean carriers, railroads, air cargo carriers and freight forwarders around the world have been impacted as well.
No one at FreightWaves enjoys reporting bad news. One of my followers on X recently commented, “Everything you post/repost or talk about is doom and gloom. I challenge you to say/find something positive about the economy pertaining to the trucking industry.”
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freightworks is still in business
Freightworks did not go out of business they are still in business
Joe Sunday
It’s like the race to the bottom of the heap is finally catching up with everyone. Too much out-of-control spending, too much overcapacity, too much foolish optimism, too much wanting to eat the other guys lunch, too much operating in debt instead of operating without it. Reminds me of kids and toys. Need a father figure to set it straight.
Denis haynes
Meanwhile DB Schenker not providing TONUS, totally screwing carriers, not paying detention, pocketing all that money. And no one can do anything about it, they just screw us left and right and none of us carriers can do anything about it.
Immin A Hidin
Wouldn’t you think that someone that is knowledgeable in the Department of Transportation that is in the Biden administration be on top of all of this? He takes months off, doesn’t go to East Palestine, OH, doesn’t care about what is going on in Maui, HI, but he does care about getting his bicycle out of a huge SUV that is not an EV, to make sure people do NOT see it. Bottom line, the government is in charge of all of this and is doing it on purpose to bring our country down.
Paul
Your reporting is what I, a shipper, am seeing on a daily basis. They number of calls and emails and LinkedIn requests are probably 4-5 times the “normal” numbers. Carriers are desperate for freight and sadly we are in our slow season, and I have no freight to offer. Hopefully they can hang in there and make it through this tough time.
Steve Breitenfeldt
“Build Back Better”
Bill Busbice
How many trucking companies cited insurance cost increases ? Law Suits are ruining our industry and Staged Accidents YES Staged are involved .. In my opinion and like a—ho—s everyone has one , all industries are facing the same thing and when it comes down to it EVERYONE of us are paying for lawsuit abuse … Manufacturers ( product liability insurance ) , Transportation companies ( workers comp abuse ) auto liability costs , umbrella insurance costs , Pollution costs , on and on… However , the real person who is paying the costs is the consumer … Approximately 25% of the retail costs of any item on the planet is going to pay the insurance costs … Get it ? 25% or more is going to pay trial lawyers , plaintiffs and court room reporters , defense lawyers etc . So what ever happened to TORT REFORM ? I haven’t heard anything about it for the last 15 or so years … Imagine what inflation would be for the American consumer if we could lower the cost of ALL insurance Homeowners , car insurance , life insurance , medical insurance , Medical Liability , and so many other forms of insurance costs by 20 – 25% ? I think that a frank and honest discussion needs to be had about Tort reform in all states and in the US congress NOW… I think that if something isn’t done and done soon WE ARE DOOMED … PS If anyone does not know this I will add that the largest contributor to the National Democratic Party ( does anyone know who it is ?) It is the National Trial Lawyers Association … Go figure ..
David Gunderson
I will bet that the Davidson Rail Yard in Fort Worth is showing the economic impact with a large number of idle locomotives in the yard. A good economic thermometer.