Bi-Weekly Freight Market Recap: June 6, 2022 – June 17, 2022
This is a bi-weekly series that brings the insights we use to get your shipments from A to B from our carrier sales floor to your home office.
This week, Loadsmart’s Chloe Cas, has a special edition of the bi-weekly market recap. This week we have our Multi Modal solutions manager, JoAnn Yatooma, on to discuss what she is seeing in the market.
What is the impact of the current market?
This week everyone was expecting a container surge due to the lockdown in Shanghai and war in Ukraine, however the reverse happened. Consumer demand has shifted and import demand is softening – putting pressure on the spot market. As volumes drop and gas prices rise there will be increased pressure on the trucking companies.
What are some shifts you’ve seen within the ports recently?
In the beginning of 2022 we saw an increased amount of freight moving into the East Coast, as well as the Port of Houston because of the many unknowns when it comes to the West Coast ports. The Port of Houston just announced that their two container terminals will be open later during the weekdays and open on Saturdays.
What are some recommendations you have?
Prioritize initiatives that improve your return on investment: increased technology, digitalizing operations, begin making data-driven decisions.