Understanding the present freight industry and what is anticipated to happen soon in terms of prices and shipping trends is essential for shippers and carriers alike to make well-informed business decisions.
This article discusses:
what has been going on with the goods market
What is happening now and what is expected to happen shortly in the market? What do these predictions represent for carriers and shippers? Upcoming shipping trends? Resources for overcoming the difficulties they present?What’s been happening in the freight market?
The freight markets over the last two years have been very different, favouring carriers in 2021 in an inflationary market and shippers in a deflationary one in 2022.
The market for inflation in 2021.
2021’s spike in consumer demand resulted in numerous commodities having to be moved but a shortage of drivers to keep up, ultimately forcing many shippers to pay extra to acquire their goods and qualifying the year as a carrier-favored inflationary market.
The deflationary market of 2022.
In 2022, consumer spending patterns decreased and it appeared like trade had stopped altogether due to an increase in inflation. Many carriers had to drastically reduce their prices just to make any money due to the overabundance of carriers competing to move the few available shipments; categorising