01/20/2023
What are the reasons of the Trucking Industry downturn?
We all can agree that there is a ton of reasons why crisis on the spot market stroke again, two of them are a true game changer:
1 - The market is overwhelmed with trucks
2 - Supplies from Chinese market decreased dramatically.
Container volumes out of China have dropped, U.S. manufacturing orders from China are down.
This happened quite a while, but still holds a strong affect on the industry.
The two stories complemented each other on the negative side, which is why shippers and brokers lower prices. Spot market has fallen by more than 15% compared to last year.
