The Effect of COVID-19 Pandemic and Lockdowns on Trucking Industry: Pricing and Lane-Balances in the Trucking Spot Market

2020 was a unique year for freight transportation agents. While many truckers were facing bankruptcy at the beginning of the COVID-19 pandemic, truckers' demand was so high later that they charged record-high rates in November. Lockdowns played a critical adverse role in economic activities and freight transportation (Loske, 2020). There was a significant demand shift among different regions. For the first time in history, Texas reached the nationwide top freight volume among states in April 2020 as they reopened sooner than New York and California. Another damaged sector was meat processing plants (e.g., Midwest states), as unplanned shutdowns (due to lockdowns or outbreaks) significantly disrupted their businesses and truckers. These examples led to a freight imbalance in certain corridors. This study will examine whether this COVID-19 pandemic significantly shifted the freight network and truckload imbalances nationwide.

• Order URL:
  https://ctrf.ca
• Authors:
  • Espahbod, Shervin
  • Haughton, Michael
  • Shi, Victor
• Conference:
  • CTRF 56th Annual Conference - Ensuring Resilience in Transportation Systems: Anticipating and Responding to Pandemic, Climate, Demographic and Economic Changes
• Publication Date: 2021-5

Language

• English

Media Info

• Media Type: Digital/other
• Features: Figures; References;
• Pagination: 4p

Subject/Index Terms

• ITRD Terms: 8018: Canada; 8525: Conference; 285: Demand (econ); 263: Economics of transport; 741: Goods traffic; 1236: Lorry; 1154: Network (transport); 261: Supply chain; 9086: Variability
• Subject Areas: I10: Economics and Administration; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01888497
• Record Type: Publication
• Source Agency: Transportation Association of Canada (TAC)
• Files: ITRD, TAC
• Created Date: Jul 21 2023 5:21PM