The past three years have offered an opportunity—the best in decades—to study the wildly volatile freight market. In 2017 and 2018, an abundance of freight led carriers to gain pricing power and expand their operations while shippers grasped for creative solutions to find new capacity. In 2019, after a year of historic tightening of truck capacity from hurricanes, ELDs and corporate tax cuts, truck capacity gained flexibility. Shippers regained confidence, but this confidence should be tempered with caution and readiness, since data reveals 2020 to be a year of tightening capacity and increased volatility.
A nine-question survey conducted by FreightWaves, in partnership with New York City-based third-party logistics (3PL) provider Transfix, elicited responses from 119 shippers who approach 2020 with high confidence. The survey was conducted to learn how shippers can rely on logistics partners and strategize for a tight market given that one sits on the horizon.
This white paper pairs FreightWaves’ survey results with SONAR data to closely examine the contributing factors of volatility in the most recent freight cycle, predict the tightening market in 2020 and show how shippers can use data to increase visibility and stability.
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