Supply constraints and abundant freight opportunities, spurred by restocking and backlogs, are keeping carriers optimistic about demand and rates this year, according to the latest Bloomberg and Truckstop.com survey.
"This environment could drive contractual truckload rate growth to the mid- to high-single digits in 2022, providing another healthy year for carriers," says Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. "Sentiment remains historically positive, supporting our view of a prolonged contractual-rate cycle."
"Carriers are using every resource at their disposal – load boards, rate analysis tools, spot market insights – to help keep up with demand and simplify how and when to deliver loads," says Paris Cole, CEO, Truckstop.com. "Our priority is to continue to deliver best-in-class solutions that help our customers do their job and achieve success in these dynamic times."
From PR Newswire:
- Carriers' bullishness on demand stayed well above historical averages in Q4 and returned to a level seen in Q1 of 2021.
- About 71% of respondents expect load growth over the next six months, up from 62% in Q3 and 16 percentage points above the Q4 average.
- Flatbed was most optimistic (76% expect higher volume) amid increased infrastructure spending on top of a strong housing market. This was followed by dry-van carriers (70%), which cited restocking and consumer resilience as principal drivers.