FTR’s Trucking Conditions Index fell due mostly to diesel price gains

FTR’s Trucking Conditions Index fell due mostly to diesel price gains

FTR’s Trucking Conditions Index (TCI) for May fell back into negative territory with a -0.3 reading from 3.21 in April. Sharp increases in diesel prices during May offset slightly improved freight market conditions for carriers. Freight demand, capacity utilization, and freight rates were slightly stronger in May but together were unable to diminish the negative impact of then-record diesel prices during the month.  The outlook is for conditions to continue close to neutral territory with index readings in either low positive or low negative figures from month to month.

“Upward pressures on trucking conditions are largely history at this point,” said Avery Vise, FTR’s vice president of trucking. “The question now is how high and strong of a floor remains. Employment data from recent months suggest that drivers are readily available for larger carriers, although much of that growth surely is coming at the expense of very small carriers that are failing due to record diesel prices – at least until recent weeks–and normalizing spot rates. Meanwhile, despite soaring inflation and other worries, consumer spending and industrial production have remained surprisingly healthy. Driver capacity has faded as a wild card as the resilience of freight demand has taken its place.”

Details of the May TCI are found in the July 2022 issue of FTR’s Trucking Update, published June 30. The July edition also includes a discussion of the dynamics currently supporting a shift of freight demand back to larger contract carriers from smaller carriers and the spot market.

Beyond the TCI and additional commentary, the Trucking Update includes data and analysis on load volumes, the capacity environment, rates, and the economy.

You May Also Like

Range Energy receives $23.5M in new financing for electric trailers

This recent funding follows the company’s $8M seed round from November 2022, bringing total funding to $31.5M.

Range-energy-trailer

Range Energy announced a $23.5 million new financing round led by Trousdale Ventures and with participation from UP.Partners, R7, and Yamaha Motor Ventures. Range says it will use the money to expand customer pilot programs for its electric-powered trailers, as well trailer production. Additionally, Range says it is also working to develop a new trailer data and telematics platform. 

MEMA responds to finalized EPA Phase 3 standards

MEMA and its members welcome the EPA’s final rule for Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles.

Mema-the-vehicle-suppliers-association-epa-phase-3-emissions-heavy-duty
The search is on: Returning initiative to reward military veteran driver with Kenworth T680

The competition is searching for America’s top rookie military veteran driver, who transitioned into trucking after military service.

Kenworth-T680-donated-transition-trucking-military-veterans
Full Truck Alliance releases 2023 fiscal report

FTA says y/y net revenues and fulfilled orders were up considerably, while its net income more than quadrupled from 2022.

transprotation-market-generic
NACFE: natural gas sits in ‘messy middle’

The organization believes RNG to be a good fuel for fleets looking to decarbonize now, but expects some companies may hold out for BEVs.

NACFE-Natrual-Gas-Confidence-Report-Cover

Other Posts

S&P Global Mobility: U.S. commercial truck market beat expectations

According to new CV registrations in 2023, 45% of upfitted vehicles are being used as service/utility vehicles, or as dry freight vans.

Generic-commercial-vehicle-market-data-sp-global-mobility-upfitting
Last Peterbilt Model 389 raises $1.5M for charity, so far

Peterbilt and Rush Truck Centers split $1.5M between two charities, the last Model 389 is now part of a sweepstakes which will benefit a third.

Peterbilt-Rush-Truck-Centers-last-model-389-donation
Volvo, Westport joint venture to reduce long haul CO2 emissions

The companies anticipate that the joint venture will become operational in Q2 of 2024.

westport-logo-volvo-reducing-carbon-dioxide-co2-emissions
EPA finalizes Phase 3, slows stringency before MY 2032

The new emissions standards are expected to improve public health and air quality, while giving companies enough lead time to meet the goals.

EPA-emissions-trucking-generic