The North American rail freight market is gearing up for a significant expansion, projected at a robust 7.45% CAGR through 2028. With cost structures becoming more optimized, rail freight shipping presents an increasingly attractive proposition, especially compared to the expenses associated with long-haul trucking. Key sectors like oil and gas, mining, and chemicals are stoking the…
Year: 2024
Trucking rates are often an unpredictable element of freight transportation. Because they are directly influenced by the market, trucking rates can be considered a reliable barometer of broader economic conditions. In times of economic prosperity, the surge in consumer spending propels freight demand, driving up rates as capacity becomes strained. Conversely, during economic downturns, reduced…
Drayage is a key link in the intermodal transportation chain, ensuring seamless goods transition across various domestic and international freight shipping modes—sea, rail, and road. Originally referring to transport by humble, horse-drawn carts, today’s drayage is carried out by high-capacity trucks that efficiently move containerized cargo over short distances. This advancement has greatly streamlined processes, facilitating…
What are managed transportation services? In today’s rapidly evolving logistics industry, effective transportation management plays a pivotal role in optimizing supply chain operations. Managed transportation services are a strategic solution, helping shippers alleviate the complexities of moving goods from one point to another with efficiency. Managed transportation services are a comprehensive outsourcing solution wherein businesses…
Global GDP shows a promising uptick in Q1 2024, coupled with anticipated inflation rates dipping below 3%. This outlook bodes well for the international freight sector, especially air cargo, where demand is forecasted to outpace capacity expansion, driving rates higher. Following a somewhat subdued performance in 2023, the freight industry is poised for significant growth…
Flatbed trucking is becoming the preferred transportation method for many industries when moving large, unusual, or heavy cargo. The demand for flatbed trucking services is rising due to the growth of the construction, manufacturing, and oil industries. However, as with any transportation method, there are pros and cons to consider when using flatbed trucks. What…
In the dynamic world of global trade, the movement of goods and commodities is essential, with freight shipping serving as the backbone of this process. This guide is designed to demystify the complex logistics of freight shipping, catering to businesses of all sizes—from small enterprises dispatching packages to large corporations handling vast quantities of goods….
Q2 2024 freight market update: Key insights and recommendations for shippers and carriers Updated May 8, 2024 As we round out the first half of this year, the freight market continues to remain stable and in shippers’ favor. Consumer spending has recovered from a winter slowdown, and the manufacturing sector has expanded for the first…
As we approach DOT Week 2024, May 14—16, 2024, it’s crucial for shippers and carriers in the Uber Freight network to understand the significance of this annual event and prepare accordingly. Drawing insights from the recent 2023 International Roadcheck results released by the Commercial Vehicle Safety Alliance (CVSA), we can glean valuable information to enhance…
If companies have learned one lesson from the pandemic era, it’s that developing agile, proactive operations is key to seamlessly adapt to disruption that turns the market upside down. The shift from a tight market to today’s stable, soft market has given shippers time to reset and refine their logistics programs to drive cost savings…