Freight Forecast

J.B. Hunt Transport Services Inc. released a white paper Sept. 24 detailing its industry’s challenges and warning “Shippers should prepare for significant cost recovery and network rationalization efforts from providers of both highway and intermodal services beginning in late 2014 and into 2015.”

The company laid out key issues that are contributing to its intimated rate hikes, including driver shortage, tighter government regulations and fuel and equipment costs.

The white paper cited a 2013 study from the American Trucking Association that said an aging workforce, among other things, has led to an annual driver shortage that could balloon to nearly 240,000 by 2022.

The trucking firm also faults the new hours of service rules — which placed more limitation on drivers’ hours, starting in July 2013 — as playing a major role in a decline in productivity.

For those intrigued, the full report is available at jbhunt.com.