Roadcheck expected to help usher in a new freight cycle
Summary
The for-hire trucking ton-mile index (TTMI), a report co-authored by Yemisi Bolumole, a Ryder endowed professor of Supply Chain Management at the University of Tennessee, and Jason Miller, associate professor of supply chain management and interim chair of the Department of Supply Chain Management at Michigan State University, shows there wasnt an expected seasonal bounce in freight volume in March, and TTMI shows no signs yet the exit of this freight recession is on the horizon, "though hopefully we won’t go back to the even lower levels that we saw in December 2022," Miller added. "In terms of macro-level planning, I would suggest carriers should expect aggregate demand for trucking to be 2% to 3% below levels this time in 2022 until we reach the back half of the year, when comps become easier." All trucking segments are virtually certain to see rate increases this week owing to the capacity disruption invariably caused by the Commercial Vehicle Safety Alliances International Roadcheck event. The three-day period of intense roadside inspections runs May 16-18, and many truck drivers stay off the road during this time. "The intersection of additional volume and tightening capacity underpins our forecast for a near-term bottom in spot truckload rates," Denoyer said.