A year of industry growth for 2021
2020 has been a challenging year for all industries, freight transportation included, and around the world, in all sectors, people are anxiously looking towards the forecasts of 2021.
According to a number of recent studies, forecasting models for 2021 are positive about economic recovery in the trucking industry – even excited.
FTR (FTR Transporting Intelligence) predicts that truck freight will grow 6% in 2021 – a meaningful growth rate when looking at year-on-year comparisons. Transition is the current buzzword in the industry, as we move from dire global-scale conditions into a more financially-conducive time.
This growth will put pressure on the trucking industry to increase it’s operation capacity and hire more drivers – something that we, at Smarter Logistics have solid plans for and have begun implementing ahead of the curve.
In November 2020, the LMI (Logistics Managers’ Index) report found that transportation prices are “increasing at an increasing rate”, while capacity is “contracting at an increasing rate”. The overall index sits nearly 20 points higher than the all-time low of April (the height of the pandemic lockdowns) and is tied for the fifth-highest level since its inception.
Smarter Logistics’ own forecast reports have similar positive findings and we are pro-actively positioning ourselves to take advantage of this upcoming increase in activity. These are exciting times!
For all your freighting needs – whether road, sea or air, get in touch with us and let us surprise you with our prices and service firstname.lastname@example.org / +1 877-207-0112