Attacks in the Red Sea Are Reconfiguring Global Trade Again
Odd Lots
Over correction in trucking throughout 2023 due to excess supply
The year 2023 was a strong year for freight volumes, but it suffered due to excess capacity built up during the COVID period. The trucking industry saw an influx of 60,000 new companies, leading to overcapacity. This overcorrection resulted from the fragmented nature of the market, with providers constantly trying to meet the high demand. This created a classic commodity boom and bust cycle, leading to multiple bankruptcies and closures in the industry as the market tries to adjust to the excess supply.
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