Trucking news and briefs for Tuesday, Aug. 23, 2022:
For the first time since April and May 2020, FTR's Trucking Conditions Index was negative for the second consecutive month.
FTR’s Trucking Conditions Index (TCI) fell to -3.36 from -0.3 in May. Before May and June, the TCI had not been negative in consecutive months since April and May 2020.
In addition to negative cost and pricing conditions in June, freight volume and capacity utilization were weaker positive factors than they had been in May.
“We might still see some positive outliers in the TCI – especially if diesel prices continue to fall sharply – but the truck freight market has hit an inflection point,” said Avery Vise, FTR’s vice president of trucking. “Modestly negative readings likely will be the norm rather than the exception, although we are not forecasting that the bottom will drop out. We still expect that freight volume will grow slightly this year and next and that capacity utilization will bottom out above the 10-year average. However, this forecast does not presume an economic recession, so downside risks are substantial.”
Ascend, which was formed this year after Milan Supply Chain Solutions (CCJ Top 250, No. 145) and its subsidiary J&B Services were acquired and merged to form a new dry van truckload carrier, recently announced a change to one of its key leadership positions as part of the company’s continued focus on growth and customer service.
David Dallas has been named President of Distribution and Dedicated Transportation, transitioning from his previous role.
