The second-largest US LTL provider is protecting its “excess capacity,” and investing in terminals, equipment and people while waiting for improved freight demand.
But major forwarders do not expect the Red Sea ship diversions to provide any meaningful lift in Asia-Europe rates beyond the second quarter.
The risk of a strike along the East and Gulf coasts stems from the ILA believing it is entitled to a fair share of the ocean carriers’ pandemic windfall of over $400 billion, as estimated by one industry analyst.