Freight Industry in Turmoil

Freight shipments, especially imports, are on the climb as the nation looks toward an economically stronger holiday season. The Cass Freight Index, which follows freight expenditures and shipment volumes, showed shipments increased in October by 3.3 percent year over year but fell 0.9 percent on a monthly basis. The slide, says Cass Information Systems, is due to port congestion and fewer new orders for manufactured goods.

The October freight payment index rose 6.4 percent from a year ago and 0.1 percent from September. Lower diesel fuel prices have resulted in lower fuel surcharges on carriers’ linehaul rates. “With the scarcity of equipment and drivers,” reports Cass Information Systems, “rates have only one way to move.”