The U.S. trucking industry is approaching record level spot rates, freight demand remains elevated, while the economy continues to grow at a good pace, according to according to FTR, which released its Trucking Conditions Index.
“There is a feeling of ‘Let the good times roll,’ and the data is backing that up,” said Jonathan Starks, chief operating officer of FTR.
If there is any frustration, it is having to turn away loads due to a shortage of drivers.
“We have had record levels of trucks and trailers ordered in the first quarter of 2018 and, as that equipment is delivered, we may see some of the capacity pressures relieved. More likely is that freight demand will gradually slow over the course of the year. This can be a challenging time for carriers as they try to balance the short-term and long-term needs of the business. This freight environment won’t stay around forever, and both carriers and shippers will be striving to balance those competing requirements.”