Your team at Translogistics will continue providing you with weekly updates on current carrier service levels throughout the current capacity crunch. We have been speaking with many of you regarding the recent sharp decline in your overall carrier service levels, beginning in early June and continuing through July, August, and now September. Please be assured, these poor services levels are not specific to your account rather an industry-wide problem we are all facing together right now.
We encourage you to continue to check our Translogistics Blog regularly, as we will be posting industry or carrier updates as we receive them.
After a sharp decline in freight volumes only a few months ago, we continue to experience one of the most drastic turnarounds ever to hit the freight markets. Rates continue to rise as carriers work to find balance within their networks while attempting to maintain service levels for their customers.
Some of the most recent notable events in the freight industry were as follows:
Continued Freight Hotspots: Louisiana & Eastern TX, Dallas TX, Southern CA, Denver CO, Eastern PA, Atlanta GA, Chicago IL
According to the FreightWaves Ocean TEU Volume Index, bookings of US imports from China are up 89% year-over-year, which is a good indication that freight volumes will continue to be strong through the rest of September in both the international and domestic sectors. Ocean freight rates continue to break records week after week and Southern CA has become one of the tightest and highest priced freight markets in the country.
Carriers Preparing for Record Peak Shipping Season: FedEx is positioning itself for what it is predicting will be an unprecedented peak holiday shipping season, the company said on September 8. Many other carriers are predicting similar, where they expect to see record high volume numbers in the upcoming months.
Continued Significant Weather Events: Hurricane Sally is expected to make landfall in the morning between New Orleans LA and Mobile AL. Current models show the storm should be a Category 2 when making landfall. Many LTL carriers are already adjusting tonight and tomorrow's operations around this weather event, which will only further delay shipments in these areas.
We will continue to provide you with weekly updates on the carrier networks along with any noteworthy announcements from the prior week.
Your Team at Translogistics