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Coronavirus impacts transportation industry outlook; spot rates to increase


(Source: The coronavirus, or COVID-19, has thrown a new level of uncertainty into the 2020 outlook for the transportation industry. Meanwhile, spot rates are expected to rise as contract rates fall this year, a logistics executive said. Spot rates refer to the rates shippers pay carriers to haul freight within about a day of the shipment.

In a recent webinar, Chris Pickett, chief strategy officer for Coyote Logistics, recently spoke about the outlook for the transportation industry. Coyote is a Chicago-based third-party logistics company owned by UPS Inc.

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