Supply Chain Council of European Union | Scceu.org
Freight

Trucking slows down in U.S. – C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)

Baird says trucking demand trends remained weak in January consistent with accelerating declines in the Cass Freight Shipment Index (-9.4% Y/Y vs. -7.9% in December).

“Commentary from shippers during February reflect seasonal weakness amid Lunar New Year and incremental uncertainty related to the developing COVID-19 situation. Activity off the US West Coast is said to be soft, and we expect a below-seasonal ramp in volumes in March given limited inbound ocean freight volume in upcoming weeks following ocean vessel cancellations.”

The firm also notes that pricing data points continue to point to flattish-to-slightly-negative contractual truckload bid results despite weakness related to the current seasonal weakness and the expected “air pocket” of demand in March.

Today’s price action in the sector is tied to new coronavirus cases in Switzerland and Spain, as well as a warning from the CDC on the potential impact for the U.S.

Related transportation stocks: C.H. Robinson Worldwide (CHRW -1.5%), CSX (CSX -1.2%), Expeditors International (EXPD -0.6%), FedEx (FDX -5.2%),  Forward Air (FWRD -2.6%), Hub Group (HUBG -3.8%), J.B. Hunt Transport (JBHT -2%), Knight-Swift Transportation (KNX -3%), ArcBest  (ARCB -6%), Landstar System (LSTR -2.6%), Norfolk Southern (NSC -2.3%), Old Dominion Freight Line (ODFL -1.8%), Ryder (R -2.4%), Schneider National (SNDR -3.1%), UPS (UPS -4.5%), Werner Enterprises (WERN -0.9%) and Heartland Express (HTLD -2.2%).

Related posts

Surge of US imports from Asia in January extends peak into 2021

scceu

How Will the Recovery of Containerized Trade and the RCEP Trade Agreement Affect the Global Tank Container Shipping Market? Technavio | Business & Finance

scceu

Freight Forwarding Market Future Scope, Drivers, Restraints, Opportunities And Challenges By 2027| DHL International GmbH.; DSV; Expeditors International of Washington, Inc.; CEVA Logistics; DB Schenker; KUEHNE + NAGEL;

scceu