A report from Cass Information Systems suggests the current softness in freight markets is likely to hang around for “several more months.”
On Thursday, according to a news release, BP Products North America Inc., a subsidiary of BP, reached an agreement to purchase TravelCenters of America for $1.3 billion in cash. The purchase of TA is expected to add around 280 travel centers and double BP’s global convenience gross margin.
A Tuesday report from Cass Information Systems showed freight shipments in January were flat with December on a seasonally adjusted basis.
A Republican-backed bill introduced by U.S. Rep Brian Mast, R-Fla., seeks to exempt underage truck drivers from rules that prohibit them from hauling containers to and from marine terminals.
Shippers are seeing relief in freight costs for the first time in more than two years, according to the December Cass Freight Index.
Cass data released Tuesday showed shipments have moderated and rates are poised to start unwinding two years of increases in January.
Cass said Monday that positive trends in freight shipments and expenditures are likely to turn negative year over year in December.
Cass data was positive year over year in September but the report suggests the trend is set to reverse.
The American Trucking Associations’ (ATA) seasonally adjusted For-Hire Truck Tonnage Index increased 2.8% in August after a disappointing 1.5% drop in July. The ATA data primarily relates to contracted freight tonnage volumes and is a useful indicator of shipping activity.
Cass data shows freight volumes reached a more than four-year high in August. But linehaul rates slid for the third straight month.
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Cass data shows changes in freight shipments and expenditures during July were less volatile when compared to prior months.
New rules proposed by the Securities and Exchange Commission regarding disclosure of climate-related risks and greenhouse gas emissions could greatly impact the trucking industry.
June shipments data from Cass shows the fourth decline in six months from 2021 levels.
Cass freight data shows shipments recovered in May as costs stepped down from record levels.
Freight data from payments management platform Cass showed April volume declines were worse than normal seasonal trends.
Many transportation managers and providers are expecting a return to a simpler time, but the data shows simpler times may be a thing of the past.
March data from Cass shows a deceleration in shipment growth and a higher chance of a freight recession, although “it is too early to call.”
The Cass Freight Index recovered some of the January volume decline tied to omicron absenteeism throughout the supply chain.
The Cass Freight Index sags in January on a rise in COVID cases, but the dataset appears poised again for strong growth in 2022.
