运输与物流每周快速追踪公路检查中费率跃升、铁路并购想法、进口更新、新的空运数据

North America Equity Research23 May 2025JPMORGANwww.jpmorganmarkets.comAirfreight & Surface Transportation / ShippingBrian P. Ossenbeck, CFA AC(1-212) 622-1023brian.p.ossenbeck@jpmorgan.comGrady Carr(1-212) 622-1251grady.carr@jpmchase.comBrandon Wexler(1-212) 622-1956brandon.wexler@jpmchase.comJ.P. Morgan Securities LLCThis weekly publication highlights current transports and logistics trends across a wide range of truckload, intermodal, LTL, ocean, and airfreight market metrics. The rail section also includes a report card that simplifies how the network is performing relative to history and peers while also tracking carload trends versus consensus expectations.Key topics of the week: No bullwhip yet for imports. We continue to center our focus on the overall state of imports and trade flows into the U.S. as an abrupt end of an import pull-forward nearly a year in the making created concerns of an “import cliff” in freight volumes that was suddenly overshadowed by de-escalating U.S./C