LTL Freight Market Under Pressure
The LTL freight transportation industry continues to experience unprecedented capacity issues.
These challenges are expected to build and multiply over the coming months, as the pandemic, driver shortages, the accelerated growth of the e-commerce industry, and the impending stimulus package are working together to create disruptive ripple effects across the entire LTL industry.
These unprecedented factors, and the timing with which they’re hitting the LTL industry, are having never-before-seen impacts on our nation’s freight, such as:
- Home deliveries at an all-time high, due to the rise in e-commerce
- The overburdening of Truckload and Parcel networks, resulting in the diversion of high volumes of additional freight into the nation’s LTL networks
- Extraordinary backups at ports with inbound international freight, causing widespread drayage and rail capacity issues
- The impact of COVID-19 on the hiring process, and the challenges faced by carriers when trying to hire additional drivers and dockworkers