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PROGNOSIS * USA - Trucking rates poised for big increase
Trucking rates, which are near historic lows, are heading for a big rebound
Dallas,TX,USA -The Dallas Business Journal, by Jeff Bounds -March 26, 2010: -- The questions are, how big — and how soon? Rate spike would have a significant impact on North Texas’ robust logistics industry... The trucking industry has dramatically shrunk in the past two years, due to record-high fuel prices in 2008 and the recession of 2009. The number of national truckloads shipped with freight from only one customer — the biggest part of the industry— fell 15% from 2008 to 2009, according to the American Trucking Associations, a Washington, D.C.-area trade group... Terrance Pohlen, an associate professor of logistics at the University of North Texas, said he believes trucking companies will not add capacity in the form of new trucks and drivers until they know that demand has returned in a significant, sustained way. The improving economy, meanwhile, will push demand higher for trucking services... “Rates,” Pohlen said, “will go through the roof”... That would have a significant impact on the local trucking and logistics industry. Because of its central location, mild climate and critical highways, Dallas-Fort Worth is one of the top five logistics hubs in the country, with all major trucking companies having locations here, including YRC Worldwide Inc., JB Hunt Transportation and Swift Transportation... The North Texas area easily has tens of thousands of workers in the trucking industry, according to John Esparza, president and CEO of the Texas Motor Transportation Association... (Photo by Bud Force - ROAD WARRIOR: Terrance Pohlen, associate professor of logistics at the University of Texas, said an imbalance of supply and demand could cause trucking costs to spike in 2010: “Rates will go through the roof”)Labels: trucking markets prognosis
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