Hurricane Florence has made landfall this morning rocking the Carolina coastlines. Capacity in the Southeast region has already tightened significantly, and with disaster relief (FEMA) on the horizon, capacity in other regions will start to tighten as well. Retail Peak season is in full swing causing tighter capacity and we expect that trend to continue through the end of year past the holidays. The biggest areas of concern right now are North Carolina, South Carolina, and the surrounding states due to Hurricane Florence.
Market Effects of Hurricane Florence
“Looking at the inbound tender market share (ITMS) values in North Carolina, there are already anomalous decreases in load volumes moving into the area that is forecast to have the largest rain.” – Freight Waves
“Charlotte’s volume has jumped over the past 2 days with outbound tender market share (OTMS) jumping from 1.7% to 1.81%. Many shippers will try to get freight out in front of the storm as they know they will not have capacity in the market nor do they want freight sitting in the warehouse.” – Freight Waves