Shipping Index Dives

[HardTimeTrucker]

Traffic World
Shipping Index Dives

Updated November 14, 2008


The United States’ freight downturn got even worse in October as a key indicator of shipping activity turned sharply lower.

The closely watched Cass Freight Index of shipments fell 16.9 percent in October compared to the same month a year ago, deeper than even the 16.6-percent decline in September.

The October Index also was down 2.8 percent from September, suggesting retailers and manufacturers are reining in their logistics activity just when distribution usually scales up for the fall peak season. Instead, the Index released by freight payment company Cass Information Systems dipped to 1.050, its lowest point of the year and the lowest level since January 2004.

It was also the worst October the Index has measured since 2002. The shipment index has declined year-over-year every month this year and at a double-digit pace since June.

The separate Cass index of freight expenditures also fell year-over-year for the second straight month, slipping 1.7 percent in October.

[crocodile_xpress]

Yep, the freight rates have dropped also. I can't believe some of the prices dispatch thinks we will haul for now. "Well, he says,"the fuel price has dropped so you should be able to make money again on those loads you have refused to pull." The problem I told him was before the fuel went up those same d**n loads you talk about didn't pay enough then so why should I want them now?

[largecar]

Let them sit for Joe the plumber. BTT said a few years ago they were having such a driver shortage they would have to look to training farmers or plumbers to haul the freight. Never occurred to them that maybe bringing the rates up would attract the good drivers back into the business. Where are all those farmers or plumbers at now? Back in the barnyard and under the sink broke after dealing with Bridge Terminal Transport. Maybe the newly hired BTT CEO will straighten out their trucking operation? LOL..