Shippers see relief from lower rates, fuel costs
A more favorable freight environment for shippers and lower fuel costs bumped the FTR Shippers Conditions Index into positive territory in November. The index moved from -0.3 to 3 in the month, marking its return to positive territory after two months in the negative rate. Rates were the most favorable for shippers since June 2020, and FTR says the outlook is "solidly positive" for shippers into 2024.
"The outlook has improved overall for shippers, but it will depend on exactly what mode and lane they operate in, as to how much improvement they will feel in their business," said Todd Tranausky, FTR's vice-president of rail and intermodal. "Truck-focused shippers are likely to experience the largest improvements relative to rail and intermodal shippers."
