Trailer and retail sales remain strong in the new year
Headlines
Preliminary net trailer orders for December broke 40,000 for the fourth consecutive month, which is 155% higher year-over-year. Most orders were for dry van and refrigerated trailers, but flatbed trailers also saw a rebound — a good indicator for the manufacturing industry.
West Coast ports are still seeing huge backlogs of container ships with the Port of LA and the Port of Long Beach having no usable anchorages. Labor shortages at the ports are to blame for the backup, and ship arrivals are not expected to stop even through Chinese New Year.
A truck driver was hospitalized after being shot by Missouri state troopers; investigators say Tayland Rahim had intentions of ambushing the Highway Patrol’s local headquarters and was shot after refusing to drop his weapon in the headquarters parking lot.
Walmart is piloting a new home valet service allowing shoppers completely contactless delivery of perishable goods; the program will include a temperature-controlled box linked with a smartphone application to allow 24-hour delivery of groceries.
DHL’s market predictions
FreightWaves’ Mark Solomon joins Midday Market Update to talk about DHL’s informal predictions for the state of the market in the next year. Solomon thinks the preliminary numbers show a strong market for this year and possibly even into next year.
He also is impressed with the performance of delivery services through the holiday season. “Shipageddon didn’t happen,” Solomon says but it wasn’t only thanks to the carriers: “It’s also a testament to the retailers.”
Warehouse inventory still struggling
Kevin Hill and Michael Vincent welcome WARECAP CEO Laurance Alvarado on MMU to talk about what WARECAP is seeing on the storage side of freight. Alvarado says there is a lot of staged freight lingering in ports, and people are using trailers in parking lots as storage.
Alvarado thinks the shortage in staffing inside warehouses has enhanced struggles to fill open space, and more people are seeking technology to remedy the labor pitfalls.
You can find more Midday Market Update recaps and recaps for all our live podcasts here.