As 2020 draws toward its close, North American shippers are wondering whether 2021 will be a year of tight transportation capacity, high freight demand, and rising trucking and intermodal rates or the year transportation goes flat as the US and global economic recoveries stagnate.
This year could hardly have been more chaotic, with two inversions in US domestic freight markets as the recession first killed freight demand and then revived it, as the need for inventory replenishment built up a wave of imports that squeezed capacity and US freight pricing.
With so many variables in play, including the continuing COVID-19 threat, it’s never been harder to plan for a new year. Business cycles are moving faster, with swings in truck pricing power and capacity occurring almost every year.
This two-part webcast series will help shippers sort fact from hype and develop a grounded view of coming logistics needs and transportation environment. Our panels will bring together top analysts, shippers, and trucking, intermodal, and logistics executives.
The result will be an event that connects the dots between the international supply chain, from seaports, and transloading to last-mile logistics. We’ll map the broad issues and dig into specific problems shippers face moving goods from origin to market in the COVID-19 era.
Session Chair: William Cassidy, Senior Editor, Trucking and Surface Transportation, JOC, Maritime & Trade, IHS Markit
Part I Agenda
2:00-2:05 pm Welcome Remarks
2:05-2:45 pm The North American Freight Outlook How will the US economic recovery evolve in 2021, and how will it affect supply chains, modal choices, and shipper plans and budgeting in the year ahead? Eight months after the initial COVID-19 pandemic shutdowns threw the economy into a deep recession, shippers are still dealing with supply chain disruption and dislocation. The strong freight demand generated during the recovery has meant more dislocation, but the recovery has been uneven. This panel will delve into the economic outlook for the US, what that means for freight demand and transportation pricing, and what shippers should do to prepare for what could be a stronger but costlier US surface transportation environment in 2021.
Moderator: Mark Szakonyi, Executive Editor, JOC.com and The Journal of Commerce, Maritime & Trade, IHS Markit
Speakers:
Paul Bingham, Director, Transportation Consulting, Economics, and Country Risk, IHS Markit
Chris Caplice, Executive Director, MIT Center of Transportation & Logistics; and Chief Scientist, DAT Solutions
2:45-3:15 How Technology Can Reshape Procurement
Moderator: Eric Johnson, Senior Editor, Technology, JOC, Maritime & Trade, IHS Markit
Speaker:
Anshu Prasad, CEO, Leaf Logistics
3:15-4:00 pm The Trucking Outlook: Analyzing the Market's Dynamics Trucking companies swung between extremes in 2020, first as economic collapse left many without freight and then as an economic rebound rapidly tightened capacity and sent spot truckload rates skyrocketing. US truckload and less-than-truckload carriers entered the fourth quarter with capacity tighter than it was even in 2018. Shippers agreed to short-term bids and rate hikes to guarantee they get trucks. The trucking sector’s costs are rising too, however, especially costs associated with drivers and insurance. With 2021 as uncertain as any year in recent memory, how are truckers and the shippers that depend on them preparing?
Moderator: William Cassidy, Senior Editor, Trucking and Surface Transportation, JOC, Maritime & Trade, IHS Markit
Speakers:
Cecil E. "Chip" Overbey Jr., Senior Vice President, Strategic Planning, Old Dominion Freight Line
Shana Riggs, Owner, RJ Supply Chain Consulting
Shelley Simpson, Executive Vice President, Chief Commercial Officer, and President of Highway Services, J.B. Hunt Transport Services
4:00 pm Closing Remarks
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