White Paper: State of the Industry – March 2024

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The March 2024 “State of the Industry Report” — presented in affiliation with Ryder — shares
an in-depth overview across the trucking, maritime and intermodal markets, as well as what to
expect in the coming weeks. The data contained within the report provides breakdowns of
capacity, volumes and rates as we enter into the first quarter.
In this report, you will find:
Freight demand has moderated somewhat from late January’s surprising strength, in line with seasonal trends.
Though, two months prior, markets had expected interest rate cuts as soon as March, a recent string of inflationary data is a major setback to the Federal Reserve’s timeline for quantitative easing.
Maritime markets are still under a cloud of uncertainty thanks to instability at the Panama and Suez Canals, though China’s celebration of Lunar New Year will provide respite from further volatility.
Intermodal demand has been strong in the face of seasonal pressures, and volumes are up over 2023 levels. Even so, intermodal pricing is at risk by holding a wide spread over dry van contract rates.
The labor market was one of the brightest spots in January, with the transportation sector contributing heavily to overall job growth.
Download the complimentary report today to access the full insights.

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