The report below gives a good overview of the Fall 2023 M&A activity in the Transport, Logistics and Supply Chain Industry Sector. The summer freight market was expected to begin strongly, with July being considered the hottest month globally. However, climate concerns have become a focal point in the freight market due to extreme weather disruptions and Amazon's upcoming implementation of stricter environmental standards. Spot rates in Q3 were estimated to be about 1.2% lower than in Q2, but they are expected to increase in the next few months due to factors like higher diesel costs, carrier exits, seasonal trends, and potential major storms. By the end of the year, spot rates will likely run 10-15% higher than they are now and break year-over-year (Y/Y) inflationary for the first time since Q1 2022. The trucking industry is said to have added 8,800 jobs in September 2023 after shedding 25,200 jobs in August. In the U.S., truckload demand rose by 0.5% in August, driven by higher wholesale sales and robust consumer spending, but supply declined by 0.4%, driven by lower employment in the long-distance truckload sector, and was only 0.3% higher y-o-y.
Posted by Peter Heydenrych.
Read the Entire Fall 2023 Transport, Logistics and Supply Chain Report Here