After a tumultuous couple weeks, trucking companies in the Mid-Atlantic and Northeast began reopening terminals closed during Hurricane Sandy early last week. However, logistic bottlenecks, fuel/power shortages, and challenges accessing customers have continued to hamper normal operations. With losses in revenue and damaged equipment, the trucking industry got a bit of good news this week.
With reconstruction efforts already underway, analysts predict that motor carriers could bring in $14 billion in additional revenue from assisting rebuilding efforts in hurricane ravaged areas. With goods and construction equipment in high demand, transportation will be of the utmost importance in the coming months.
It is anticipated that this 14 billion will be spread out over the next nine months, increasing trucking revenue by 2 percent in the fourth quarter alone this year.
However, with drivers and equipment tied up in reconstruction efforts, it is anticipated that capacity for goods will inch downwards for shippers elsewhere in the market, and will continue that trend going into 2013. Stay tuned.