Trucking news and briefs for Tuesday, March 19, 2024:
FTR’s Trucking Conditions Index for January improved to -1.41 from the December reading of -4.3, indicating a less challenging financial environment for carriers.
Freight rates and financing costs were not as negative as they had been during the prior month, although fuel costs were not as favorable. The outlook for trucking conditions has improved but remains in negative territory for most of the year.
“Our forecast for freight volume is modestly stronger, but excess capacity continues to temper our expectations for a market revival,” said Avery Vise, FTR’s vice president of trucking. “Absent a triggering event like a surge in fuel prices, for example, we see a continued gradual drain of capacity that will not begin to shift market fundamentals for months. The eventual rebound also might be uneven as the first signs of improvement could slow the exit of excess capacity and delay a sustained recovery.”
[Related: Will spot rates respond to rising demand?]
Mack Trucks is now accepting submissions for its 2025 calendar contest.Mack Trucks
The Mack Trucks Calendar Contest is on the hunt for the best-looking Mack trucks for the 2025 calendar edition. A dozen Bulldogs will grace next year’s edition, courtesy of a professional photo shoot provided by Mack.
