Carriers are enjoying the strongest freight market ever, and there’s no quick solution to the supply chain issues that are keeping them from adding to their fleets.
That’s the assessment of ACT Research, published in its ACT Freight Forecast, U.S. Rate and Volume Outlook report.
“Supply side constraints will keep the truckload market very tight in the near-term, as freight demand remains exceptionally strong, so the peak in spot markets remains ahead of us,” said Tim Denoyer, ACT’s vice-president and senior analyst.
“The semiconductor shortages impacting Class 8 tractor supply don’t have quick fixes, and neither do the structural factors inhibiting driver supply, such as demographics and drug testing.”
He concluded, “This is perhaps the strongest freight market ever for carriers and the most challenging ever for shippers.”