NEW YORK: US shipping industry set for good 2015, US ports and truck driver and freight equipment shortages, but the U.S. shipping industry is poised to do well in 2015.
A mix of unique factors continues to trickle up and down the industries that get goods to markets and unfinished goods from business to business. Those factors include an ongoing labor dispute at key ports in California that has significantly slowed shipments, the unexpected decline in fuel prices, a continued but possibly improving truck driver shortage, a potential uptick in consumer spending, a decline in the global economic growth but increased activity in the U.S. economy, and service problems – especially on rail lines.
Overall, experts say such factors will be to the advantage of trucking companies (truckload and less-than-truckload), rail lines, logistics companies and other shipping-related operations. The advantage will allow them to raise rates. Some of the higher rates will be absorbed, but most will likely result in higher prices for consumers.
The Cass Freight Index reported that shipments were up 4% in December compared to December 2013, and freight expenditures were up 3.6%. However, December shipments were 6.3% below November numbers, and expenditures were down 6.7% compared to November.
