Truckers to hit more flooding in South Central states
Potential repeated downpours Thursday could lead to high water in eastern Texas and lower Mississippi Valley (Photo: Jim Allen/FreightWaves)
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Lake Charles, Louisiana, had a daily record 12.49 inches of rain Monday, which became the third-wettest day in the city’s history. So far, it’s the also the city’s third-wettest May on record. Major flooding prompted water rescues, and Gov. John Bel Edwards issued a state of emergency.
Tuesday, the Louisiana Department of Transportation and Development shut down a section of Interstate 10 near Baton Rouge because of flooding.
Wednesday was relatively calm, but areas of massive rain amounts could return Thursday.
Tender rejections down for first time in weeks is this progress? 6 minutes read
Last week’s DHL Supply Chain Pricing Power Index:
The
FreightWaves
The Pricing Power Index is based on the following indicators:
Load volumes: Absolute levels positive for carriers, momentum neutral
The Outbound Tender Volume Index (OTVI) on a national level has shown very little volatility over the past three weeks, walking along the x-axis at ~15,300. At the same time, tender rejections have taken a meaningful leg down, suggesting that freight demand is even stronger now than at the beginning of April.
Geographically, over the past week southern port cities have seen growth in outbound tenders. This trend should continue at most ports around the country over the next several months. As FreightWaves’ Greg Miller wrote Monday, maritime operators and importers are bracing for a shipping tsunami. Nerijus Poskus, vice president of global ocean at freight forwarder Flexport, warned the situ
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Trucking gets another shot in the arm from quarantined consumers
Consumers spent 22% more on goods in January, tightening capacity back to peak levels in March
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Chart of the Week: Outbound Tender Volume Index – USA, Personal Consumption Expenditures – Durable Goods SONAR: OTVI.USA, PCE.DG
Just as the consumer goods boom appeared to be in decline, spending got another boost on the heels of more stimulus and spiking COVID-19 cases, posting an unexpected 12% sequential gain in January over December after the holiday spending had passed. FreightWaves Outbound Tender Volume Index (OTVI), which measures truckload electronic tender volumes in the U.S., posted a similar gain in March over February, sharply reversing a declining trend. This relationship has evolved to the point where it appears there could be as much as a two-month lead time on freight volumes.
Stimulus round 3 provides huge boost to consumer economy — freight volumes are next freightwaves.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freightwaves.com Daily Mail and Mail on Sunday newspapers.