Shippers will probably pay more for freight heading into 2021 after the pandemic lockdown drove many small truckers out of business and cargo demand rebounds faster than the economy, said the chief executive officer of freight broker C.H. Robinson Worldwide Inc.
Demand for cargo shipping plunged in March when schools and offices closed to curb the spread of the coronavirus, sending many drivers to seek jobs in the construction industry, said Bob Biesterfeld, CEO of C.H. Robinson. The company has almost $20 billion of freight under management and contracts with 78,000 trucking companies.