C.H. Robinson Worldwide expects the freight recession will linger into next year, but sees a recovery taking hold in the second half of 2024.

From food service distributors to in-house trucking divisions of retailers, the largest private motor carriers in North America  have remained busy even as the freight market has cooled.

French shipping giant CMA CGM SA warned of a steep drop in demand so far this year, extending a slump that led to a more than halving of quarterly profit.

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Trucking is handling increased demand and awaits a potential surge of pent-up activity because of the coronavirus, but what that means for the industry long term remains an open question.

After a 2018 that saw record-setting levels of freight-hauling demand and driver pay as tonnage levels reached a 20-year high, the trucking industry is expected to remain strong in 2019 but undergo a bit of a cool-down, economists say.