Tallies, totals and other trend data in the freight transportation realm (3/20/2025)

-2.56

FTR’s Trucking Conditions Index reading for January declined to -2.56, compared with December’s +2.67 reading, FTR officials said on March 13. "Higher diesel prices and weak freight rates, volume and utilization resulted in unfavorable overall market conditions for carriers in January," they said. Added Vice President of Trucking Avery Vise: “Although we still forecast an improving market for trucking companies in the months ahead, we remain very concerned that the great uncertainty introduced by tariffs – and especially the lack of clarity over scope and timing – will chill activity and investments that drive freight demand."

-1.8

FTR’s Shippers Conditions Index for December fell to -1.8, compared with November's +2.3, FTR officials said on March 3. "Sharply stronger freight volume and capacity utilization in December were a hit to shippers’ market conditions for the month, although the impact on freight rates was marginal," they said. Added VP of Trucking Avery Vise: “Market conditions for shippers likely will be volatile in the near term as the supply chain reacts to the plethora of tariff impositions and threats as well as similar measures such as the proposed port access fee related to China."

1

Crowley commenced operations of the first domestic liquified natural gas (LNG) carrier to transport U.S.-sourced natural gas to Puerto Rico, Crowley officials announced on March 18. Crowley and Naturgy entered into a multi-year agreement that provides for the regular delivery of the U.S. mainland-sourced LNG to Naturgy’s operating facility in Penuelas, Puerto Rico. Crowley-owned carrier American Energy, which has capacity of 34.4 million gallons per voyage, will operate in accordance with the U.S. Coast Guard Authorization Act of 1996. 

5

A record 158 million metric tons of cargo moved through the Port of Vancouver in 2024, a 5% increase year-over-year that was led by strong performances in the auto, bulk and container sectors, the Vancouver Fraser Port Authority announced on March 10. Almost as much cargo moved through the Port of Vancouver in 2024 as was handled by Canada’s next five largest ports combined, and about 80% of the international trade it enabled was Canadian trade with countries other than the United States, according to the port authority.

7

For the seventh straight year, the intersection of I-95 and SR 4 near the George Washington Bridge in Fort Lee, New Jersey, is the top freight bottleneck in the country, the American Transportation Research Institute (ATRI) announced earlier this month. The next nine most congested bottlenecks in the United States, according to ATRI's 14th annual list: I-294 at I-290/I-88 in Chicago; I-45 at I-69/US 59 in Houston; I-285 at I-85 (North) in Atlanta; I-24/I-40 at I-440 (East) in Nashville; I-75 at I-285 (North) in Atlanta; SR 60 at SR 57 in Los Angeles; I-71 at I-75 in Cincinnati; I-10 at I-45 in Houston; and I-20 at I-285 (West) in Atlanta.

10.5

In February, the shipments component of the Cass Freight Index® was up 10.5% month over month, about half of which was "normal seasonality," Cass Information Systems Inc. officials said on March 17. The decline in shipments narrowed to 5.5% year over year, compared with 8.2% in January. "Some of the sequential variation was likely caused by severe January weather, and some of the improvement in February was likely from pre-tariff shipping," Cass officials said. "This could begin to reverse as soon as March, but normal seasonality would see a narrower 3%-4% year-over-year drop in March shipments."

13.4

Trade moving through the Port of Long Beach rose for a ninth consecutive month in February "as retailers continued to move goods ahead of anticipated tariffs placed on some imported products and materials," Port of Long Beach officials said on March 13. The port  moved 765,385 twenty-foot equivalent units in February, up 13.4% from the same 2024 month. Imports rose 11.8% to 368,669 TEUs and exports increased 2.9% to 90,026 TEUs. Empty containers rose 19.1% to 306,690 TEUs.

25

For Canadian provinces, the current credit complexities aren't just about tariffs. Preexisting pressures also could lead to slower economic growth and lower revenue receipts — aside from any impact from the 25% tariffs on exports to the United States, S&P Global Ratings credit analyst Bhavani Patel said on March 5. "Given moderately weaker midyear financial performance to date in fiscal 2025 for most Canadian provinces compared with 2024 budget expectations, and recent changes to federal policies related to reduced immigration targets, provinces are operating in a more complex environment," Patel said. "The recent U.S. tariff announcements and counter-tariffs imposed on the U.S. by the Canadian government compound the economic uncertainty."

28

This year, 55% of supply chain leaders plan to increase their supply chain technology and innovation investments, according to “The Digital Supply Chain Ecosystem: Orchestrating End-to-End Solutions," a report issued March 19 by MHI and Deloitte. Of those leaders increasing their investments, 60% plan to spend over $1 million and 19% plan to spend over $10 million, according to the report. Adoption of artificial intelligence is "expected to rise dramatically," with 28% reporting that they're using it now and another 54% saying they plan to have it in use within five years, according to MHI/Deloitte.

28

28% of c-suite executives in the trucking industry are women, according to the Women in Trucking Association's (WIT) 2024 annual report, which was issued earlier this month. WIT members are predominantly in the United States, but members also hail from Australia, China, Colombia, France, Mexico, Namibia, The Netherlands, New Zealand, Nigeria, Poland, South Africa, Switzerland and the United Kingdom.

30

Weather and rail dwell are contributing to delays at a range of Canadian ports, according to DHL Global Forwarding's March 2025 Ocean Freight Port Situation Update. At the Port of Halifax, vessels continue to arrive "off pro forma" primarily because of weather over the North Atlantic. "Import rail dwell has marginally improved and is currently 18.0 days as PSA Atlantic Hub is struggling with high ground counts and a shortage of labor," DHL officials said, adding that some containers are experiencing dwells as high as 30 days. Meanwhile, weather-related delays at the Port of Saint of John have been "minor," although import rail dwell times are "high" at 11.1 days because car supply hasn't been able to meet demand. At the Port of Montreal, rail dwell is 5.1 days, but rail-car supply has been inconsistent, DHL officials said. And "major rail issues" at the Port of Vancouver are leading to dwell times of 20 to 30 days, according to the report. The Port of Prince Rupert is experiencing delays of two to five days and only "minor" rail issues.

58.1

On March 20, The Equipment Leasing & Finance Foundation released the March 2025 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market is 58.1, down from the February index of 66.9 and the lowest index since July 2024. The index is a qualitative assessment of both the prevailing business conditions and future expectations as reported by key executives from the equipment finance sector. Said MCI-EFI survey respondent Donna Yanuzzi, EVP and Head of Equipment Finance, 1st Equipment Finance Inc.: “Weeding through the noise, the Trump administration appears to be pro-business and regulatory realistic. This combination should drive investment and growth. However, the concerns of tariffs may impact business growth in some fashion. Now, more than ever, strategic planning will be key in navigating the opportunities and risks ahead.”

20,874

In February, total U.S. trailer net orders declined 18% month-over-month, but increased 3% year-over-year, reaching 20,874 units, FTR reported on March 19. Total trailers built in February increased 23% month over month to 15,800 units, but remained down 34% year over year. “New and pending U.S. tariffs, along with retaliatory measures, pose significant risks to the North American trailer market," said Dan Moyer, FTR's senior analyst, commercial vehicles. "Tariffs will affect not only imported trailers but also domestic trailers, depending on the extent of imported materials, and the market effects could be broad-based. OEMs face higher production costs, tighter margins, and potentially slowing or stagnant demand. Suppliers may encounter supply chain disruptions and increased financial strain. Fleets could see higher trailer prices and longer lead times, prompting delayed purchases or shifts toward investing in power units once again. Overall, tariff-related uncertainty presents strategic challenges industrywide."