The Freight Industry Is Looking At A Very, Very Ugly End Of 2022

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Brett Aquila's Comment
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This is an article written by Craig Fuller, CEO of FreightWaves:

The Freight Industry Is Looking At A "Very, Very Ugly" End Of 2022

Here are a couple of quotes from the article:

Retailers have nearly all the products they need in their distribution networks for the holidays (and then some), which means that there won’t be a lot of freight demand as we head into the last two months of the year.
As firms get more nervous about the broader economy heading into 2023, there is little incentive to replenish bloated inventories. This is bad news for most freight companies as they will find far fewer load opportunities.

It's not an exciting read. It just gives a few data points about shipping container volumes and spot market prices for freight throughout 2022 that all show a big decline in the pipeline for the last two months of the year.

I think 2023 will be a catastrophe for our economy and markets. Buckle up!

Bird-One's Comment
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I initially wasn’t even going to read the article as i figured you about summed it up. But I did and what a somber read. And to think some economists are saying the worst is yet to come.

Truckin Along With Kearse's Comment
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Yes. And yet I hear new students talking of leasing and buying. It is obvious they know nothing.

PJ's Comment
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It has hit pretty much all markets. My customer has slowed dramatically and I started pulling a reefer. That is slowing as well. This is certainly not a time to be buying or leasing equipment. We have no bright immediate future for sure.

Reefer:

A refrigerated trailer.

OWI:

Operating While Intoxicated

Robert B. (The Dragon) ye's Comment
member avatar

3 consecutive quarters of negative GDP, still rising inflation rates, rising energy costs and coming food shortages. Keep listening to those politicians and media icons who tell you everything is fine though because why would they lie? Not to mention a public education system churning out dumber students every year, consumed with everything social media. I think it’s safe to say we’re in a bit of trouble.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Bobcat_Bob's Comment
member avatar

We should be busy this time of year, right now it is pretty slow. They are usually begging for empty trailers and for people to work extra. Currently, we have rows of empty trailers and have been calling people off.

Navypoppop's Comment
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I'll have to watch for any economic downturns in fuel and food before I take off in May for the 6 months in the 5th wheel. It would be better staying home, save the extra costs of rving like fuel and rv parks costs.

KentuckyBound's Comment
member avatar

3 consecutive quarters of negative GDP, still rising inflation rates, rising energy costs and coming food shortages. Keep listening to those politicians and media icons who tell you everything is fine though because why would they lie? Not to mention a public education system churning out dumber students every year, consumed with everything social media. I think it’s safe to say we’re in a bit of trouble.

Exactly!

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
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