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2018 was worse than 2020 for trucking

Jun 14, 2020 at 03:29 PM CST
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Anything that provides immediate, intense gratification typically comes at a high cost. The cost of the 2017-18 freight boom has lasted for nearly two years. Spot rates, which are a good measure of capacity fluctuations in the domestic trucking market, grew as fast as they ever have in 2017-18, culminating at a peak around the Fourth of July in 2018. Not only were volumes growing at a surprising pace, but they sustained for an unusually long period of time above contracted levels. In its wake, this market has left the domestic trucking industry with an oversupply problem that has still not been resolved — which is not easy to see amid the ongoing crisis that has been 2020.