Trucking news and briefs for Tuesday, Oct. 31, 2023:
After months of positive conditions, FTR's Shippers Conditions Index fell into negative territory in August.FTR
FTR’s Shippers Conditions Index (SCI) continued to fall in August to its first negative reading since October 2022 at -2.7. Freight rates were not quite as positive as they had been during the month with the real market challenge for shippers being the recent surge in diesel prices.
“The decline was almost entirely the result of higher diesel prices as overall capacity remains abundant across modes,” said Todd Tranausky, vice president of rail and intermodal at FTR. “But diesel prices pushed up rates and fuel surcharges leading to a less favorable environment for shippers. It is possible that diesel prices stay elevated for an extended period of time.”
[Related: Fuel prices, weak freight volume hurt carriers significantly in August]
Ritchie Bros. Auctioneers will host its global auction event in Orlando, Florida, from Feb. 19-23, 2024.
Known for its size, selection and premier customer experience, the annual event typically attracts consignors and bidders from all over the world and generates hundreds of millions of dollars for consignors each year. Consignors have their choice of flexible selling options, whether their inventory is listed virtually or onsite at the more than 200-acre facility.
