Hot market creating a ‘war’ for freight brokerage talent
Last Monday, Amit Mehrotra, an analyst at Deutsche Bank, stated that due to customer demand, low inventory levels, housing demand and federal stimulus, the current market constraints on trucking and international container capacity are likely to continue into 2023.
Shippers are moving to a “stronger for longer” pricing cycle, he said, pointing to many retailers increasing their transportation cost projections and retailers already beginning to increase prices by 10% to 20%.
This hot market continues to impact truckload carriers, who must order new trucks and focus attention on driver recruitment and retention to keep up with customer demand.
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The Daily Dash is a quick look at what s happening in the freight ecosystem. In today s edition, we highlight a top safety official stressing the need for seat-belt law enforcement, Yellow Corp. s disappointment with its Q1 earnings and more.
The High Five
1. A top safety official in the trucking industry is urging police to step up enforcement of seat-belt laws on motor carriers due to the high number of drivers and other occupants who weren t complying with those laws when they died in crashes. I just cannot believe people are not wearing seat belts, Jack Van Steenburg said.
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On Monday, Amit Mehrotra, an analyst at Deutsche Bank, stated that due to customer demand, low inventory levels, housing demand and federal stimulus, the current market constraints on trucking and international container capacity are likely to continue into 2023.
Shippers are moving to a stronger for longer pricing cycle, he said, pointing to many retailers increasing their transportation cost projections and retailers already beginning to increase prices by 10% to 20%.
This hot market continues to impact truckload carriers, who must order new trucks and focus attention on driver recruitment and retention to keep up with customer demand.
But these issues are beginning to trickle down to another supply-chain actor as well: the freight broker.