Higher rates, more surcharges and tight capacity continue to define supply chains as we enter the second quarter of 2022. However, there are some green shoots emerging for shippers, as Truckload spot rates are on the decline, and LTL and Truckload carriers are showing more interest in locking in contracted rates.
Shippers are going to need to be more proactive than reactive, especially now as fuel and other surcharges are increasing fast. Moreover, watch ocean capacity carefully. We may see bigger capacity challenges on both west and east coasts in Q2, amplifying the importance of having reliable drayage partners to keep your supply chain moving.
As transportation market volatility stretches into the summer, shippers will need to keep a close watch on capacity and rate conditions. Having a second set of eyes and ears watching these issues and monitoring market changes daily, if not more often, could be the difference between staying ahead and struggling to keep up.
Download the 2022 Q2 Forecast today.