West Coast ports have taken their medicine; now it’s time for the East Coast to suffer. China’s economy is working to make up for lost time (air pollution now exceeds 2019 levels), and West Coast volumes have already started reaping the benefits, gaining momentum out of their March trough. Economic
The modern operating strategies known collectively as precision scheduled railroading (PSR) have driven profound changes in the way railroads think about their workforces, revenue growth, assets, facilities, networks and customer service. In this piece, we explore the past, present and future of PSR through two decades of railroad industry financial
When the financial markets come under stress and the U.S. enters a recession, creditanalysis always comes back to the forefront and is the most important considerationof investors. This is where we find ourselves now in the aftermath of COVID-19becoming a global pandemic that has effectively shut down much of the
Warehouses and the humans on which they depend are under numerous pressures, from tight labor markets to viral outbreaks. It’s the perfect time to perform a quick check on the state of the warehousing industry, including capacity, rents, employment, automation and use cases for fully automated facilities. Warehousing markets continue
Stay at home and work from home have accelerated demand for e-commerce giant Amazon’s services and products, sending its stock price up 27% year-to-date, to all-time highs, at a moment when the S&P 500 is down 14% year-to-date. Crises may cloud economic forecasts, but there is another sense in which
The five largest markets took share from the smallest 50.
Reefer volumes are still up 21% y/y, but they're falling fast.
Congress just passed a $2 trillion stimulus package. This figure equates to 9% of 2019 U.S. GDP of $21.5 trillion. As COVID-19 rapidly spreads and has become a pandemic, vast swaths of the global economy are shut down, which should lead to mounting unemployment and a deep recession. The second-to-last
Diesel rack prices are falling faster than retail, but we're bearish on values for 3 year old trucks.
Trucking carriers and 3PLs reported that volumes softened this week.
Shorthaul reefer loads on the East Coast are outperforming the rest of the freight market, although dry van volumes are up, too.
Leading indicators are flashing red.
We game out best, base, and worst cases for the U.S. macroeconomy, financial markets, and freight markets.
We reflect on the causes of private equity's spotty record in asset-based trucking.
Philadelphia and Savannah volumes should peak in March as South American imports dry up and Mexican harvests begin.
Railroads performed the best, while LTL earnings cratered.
Infections jumped 1,300% since our January 27 note.
We experiment with a Landstar BCO dataset to get a read into absolute capacity.
Detention time is a growing problem and is costing carriers billions by delaying their return to the road. In this whitepaper, we describe why detention is such a big issue, outline potential ways to solve it, calculate its opportunity cost and analyze the findings from our detention survey from carriers.
Our first warning about coronavirus risks to international trade and supply chains.
Three factors are contributing to a tough environment for operators of trucking assets.