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2021 Industry Recap and 2022 Crystal Ball

Evans Educates

28 April 2022

Ben Franklin once wrote, "but in this world, nothing can be said to be certain, except death and taxes."

We would add a third to that shortlist, transportation cycles.

The nature of capacity and freight has always been cyclical. What the world was calling a "new normal" for the supply and demand for freight would eventually change.

Evans_Ben Franklin

There is change brewing, whether we see a minor correction or a "bloodbath" per Craig Fuller of Freightwaves for the capacity side. We are starting to see different numbers drift back towards pre-pandemic levels.

Some of the more significant factors are below:

  • Since the start of the year, Tender Rejection rates have been steadily declining.
    • Current Sonar numbers showed 10.89% rejection rates when they pushed past 25% last year.
  • DAT shows the Dry Van Load to Truck Ratios sub-4, which is back to 2018 levels.
  • Cass Freight Index has seen a slight slowdown in its March data but is advising it is still early to call it a freight recession.
  • With 25 million people in lockdown, Shanghai is still in the midst of the Covid crisis. The significant impact of the lockdown is the lack of freight flowing out of their region. It could cause a tidal wave of freight once the lockdown is over.
  • Geopolitical pressures are putting pressure on the demand side of the market. There are still a lot of unknowns that could have a major influence on the market in either direction.

There are a lot of unknown factors floating out there in today's landscape. When you feel like you have a good grasp on what to expect, there is a change. Leverage your partners at Evans to better understand what to expect and how to pivot in your daily operations. Enjoy the #EvansExperience today!

Click below to see how these factors compare to our original outlook in February!

2021 Recap and 2022 Forecast

 

- Team Evans

 

Evans Educates



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