“Soft Winter” Coming For Freight Demand

Despite some gradual improvements, the freight market is still set up for a middling winter season, according to one report. 

The market is still oversupplied, according to Tim Denoyer, ACT Research vice president and senior analyst. An Oct. 30 ACT report showed that year-over-year declines are shrinking, indicating the freight cycle is beginning to level out. 

Denoyer noted that the market is expected to “turn once capacity tightens,” but that could still be a while based on preliminary indicators of 2024 equipment production. 

“Class 8 orders over the next few months will be pivotal in setting the tone for capacity and rates in 2024,” Denoyer stated.