Hurricane Sandy could bring trucking $14 billion in additional revenue, as motor carriers support reconstruction efforts, a transportation analyst says.
That $14 billion would be spread over the next nine months as the Northeast rebuilds from what Noël Perry called “the worst weather event” in U.S. history.
Speaking during a JOC Webcast on the projected shortage of truck drivers, Perry said reconstruction could increase trucking revenue 2 percent in the fourth quarter.
Trucking companies could be challenged to find the necessary equipment and drivers to meet the demand said Perry, principal of Transportation Fundamentals.
As more drivers and equipment are dedicated to reconstruction efforts, less trucking capacity may be available to shippers elsewhere in the economy.
Estimates for the cost of the damage Hurricane Sandy wreaked on the Northeast continue to rise, with the cost to New York state alone reckoned at $33 billion.