“Even though we’ve got some fantastic numbers, which show how quickly things have begun to recover, we’re still not where we were even two years ago when we were flying like mad in 2018 and early 2019.”

– Bobby Holland, VP/Director of Freight Data Solutions at U.S. Bank

U.S. Bank processed $29.7 billion in freight payment transactions in 2020. Those payments and the data that accompanies them are analyzed quarterly by Bobby Holland VP/Director of Freight Data Solutions at U.S. Bank and his team. The FPI report includes quarter over quarter, year over year, and full year data and analysis.

According to the official report released by U.S. Bank, “The freight market wrapped up 2020 on a positive note with solid improvements in both full-truckload and less-than-truckload shipments – in part due to the growth of e-commerce purchases and single-family-home construction. And with a tight market, shippers paid significantly more during the fourth quarter.”

In this interview, Bobby is joined by Frank Hurst, President of Roadrunner Freight, to share the results of the on the Q4 2020 report with Supply Chain Now Co-hosts Greg White and Scott Luton, interpreting what they may mean for the economy and the shipping industry in the short and longer term.

· How trends such as fewer qualified/available drivers, changes in consumer demand, and the question of pricing stability affected the U.S. freight market at the end of 2020

· The differences by region in terms of eCommerce, shipment volumes, and freight capacity

· The signs of hope and growth that Bobby and Frank see in the Q4 data and in other indicators of freight industry-related economic health