Weekly Market Update for June 11th, 2024: The operating costs of battery-electric trucks outweigh the benefits

Like the proponents of autonomous trucks, who have struggled to demonstrate a viable economic model in the truckload sector, early adopters of electric vehicles are in the same boat. According to Ryder System, which manages 25,000 trucks and vans for thousands of retailers and manufacturers, as trucks get heavier, the difference in operating costs between…

Flatbed report: Chemical companies are signaling optimism about future economic conditions

Chemicals are essential building blocks for multiple industries, including manufacturing, agriculture, pharmaceuticals, and construction. And while most chemical shipments move by rail, shipment volumes indicate future truckload demand for finished goods. These include moving fertilizers to farmers, plastic resins to auto parts producers, caustic soda to pulp and paper manufacturers, and countless other chemical products…

Reefer report: The U.S. cold storage market is expected to grow at a double-digit clip through 2031

A research report from Skyquest, a global market intelligence, innovation management, and commercialization organization, expects the U.S. cold storage market to grow from $43.2 billion in 2023 to $118.8 billion by 2031. According to the report summary, the compound annual growth rate during the forecast period is 13.5%. The U.S. Cold Storage Market is witnessing…

Dry van report: Truckload market conditions remain weak

According to Professor Jason Miller, a supply chain expert at Michigan State University, trucking companies need more good news as demand remains weak. The latest release of the for-hire trucking ton-mile and revenue indexes (TTMI), based on output across 41 freight-generating industries, showed March’s seasonally adjusted ton-mile reading decreased 0.5% from February but remains down…