What is happening: Storms, hurricanes and typhoons hurt October freight numbers across the US and Asia.
Numbers: October freight volume was down 7% from September, and a whopping 33% from the same month last year.
Weather: The Eastern US was hit by hurricane Florence and hurricane Michael, while much of Asia was affected by Typhoon Mangkhut.
Prepare: Many businesses simply aren’t prepared for the suspension of transport services in extreme weather. In an FM Global survey, 64% of respondents said hurricane season hurt their business last year. 62% of these admitted they were not completely prepared.
What did DAT analyst Peggy Dorf say: “Some of the demand has shifted into early November, with imported goods moving from seaports to regional distribution centers across the country.”