Refrigerated capacity tightness at near record levels   

Morgan Stanley's refrigerated truckload freight index shows very tight capacity. The index dropped a little in Q2 but has regained all the lost ground to a high point for the year. The index is not far below the peak level of Q4 2005, and is roughly equal to the high point of 2010. Refrigerated capacity is very tight relative to all of the reference years through June. The pricing environment in this segment clearly favors the carriers at this point. The index measures incremental demand for refrigerated truckload services compared to incremental supply. The higher the index the tighter is capacity relative to demand when compared to a prior period.

Graph reproduced with permission from Morgan Stanley. For more information contact: Adam Longson at Adam.Longson@morganstanley.com or Bill Greene at William.Greene@morganstanley.com