Truckload Capacity Tight; Rates Firm

Nov. 14, 2003
September orders for Class 8 vehicles were 15,026 units. That's below the replacement rate, says Morgan Stanley. The North American equity research firm

September orders for Class 8 vehicles were 15,026 units. That's below the replacement rate, says Morgan Stanley.

The North American equity research firm maintains a proprietary Truckload Freight Index which indicates demand has shown year-over-year improvement since early August. Capacity remains tight, leading Morgan Stanley to conclude rate increases of 3% to 5% are coming. In a related development, Class 1 railroads have recently reported increases intermodal traffic. Industry sources agree that part of this increase is due to mode shifts designed to lower transportation costs.

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