The latest release of ACT’s For-Hire Trucking Index shows that September’s productivity reading, a measure of industry utilization, advanced again sequentially, and marked the highest level reported since March 2011.
“Seasonally adjusted, the productivity reading of 63 was up from 61.6 in August and the 57.3 year-to-date average,” said Tim Denoyer, ACT Research’s vice-president and senior analyst.
When for-hire participants were asked about spot rates, 66% noted that they have sustained the post-Harvey/Irma hurricane increases. “Spot rates are hot right now,” noted one respondent. “A combo of hurricane/e-logs/driver shortage has hit.”
Fifty-six percent also reported that shipper interest in securing capacity under contract increased due to the recent hurricanes, noting that other factors may be having an impact, too.
“I think that it has been oncoming and that the hurricanes only sped up the process,” said a participant. “People are scared of the upcoming winter, and do not want a repeat of 2014.”