Dry van capacity-demand balance remains near the historical average   

Morgan Stanley's dry van truckload freight index indicates capacity has started to tighten again in recent weeks, but remains very near the long term average for this time of year and is identical to 2010. Capacity has been more readily available than 2010 since the lines crossed in April, but now they may be crossing again. Our view is that unless the economy recovers and we experience a fall peak shipping season, we are not likely to see tight capacity for the balance of 2011. The index measures incremental demand for dry-van 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