Cass Freight Index Rises in November
The Cass Freight Index, a measure of shipping activity in trucking and other transportation modes, rose in November and expenditures increased, Cass Information Systems said.
Shipping increased 4.2% in November from the year before to the highest point in the shipment index since the recession, but declined 0.2% from October, Cass said.
“The first eleven months of 2014 have shown this to be the best year for freight that we have experienced since the recession. Freight volumes are up and costs to move that freight are also trending up. This is good news for the nation’s carriers in spite of the headwinds being battled (port congestion, throughput capacity, and port labor problems),” Cass said in its report.
Freight expenditures increased 5% from last year but dipped 0.7% from the prior month.
“The congestion situation has not improved at the West Coast ports and will probably take the remainder of the year to clear out. The issues faced at these and other ports receiving the larger TEU capacity ships are not going to improve until changes are made in the infrastructure, systems and processes, and new equipment, especially chassis, are available on a consistent basis,” Cass said.
