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Freight rates on the spot market in April plunged to five-year lows, thanks to plummeting demand caused by the COVID-19 pandemic. It's so bad, owner-operators have been protesting all over the country, calling for more broker regulation. But is it really a broker problem? Or classic supply and demand?
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A new index provides visibility on the state of the trucking market as anticipation of an economic restart grows.
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The pressure to restock grocery stores and distribution centers stripped by COVID-19 buying has quickly given way to a slump for truck freight. As March segued into April, the spot market took a tumble, according to figures from DAT Solutions and Truckstop.com.
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Truckstop.com and Knight-Swift Transportation announced a digital freight matching integration service aimed at helping the motor carrier's owner-operators and their vast network of third party trucking partners move more freight efficiently throughout the country.
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The Book It Now feature allows freight brokers and 3PLs of any size to add instant load booking functionality to their business and carriers will be able to see Book It Now loads from freight brokers they know on Truckstop Mobile.
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Truckstop.com and Schneider have completed a pilot program on a new "Book it Now" solution that gives Schneider’s carriers the ability to book freight at the click of a button.
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First-quarter 2019 GDP grew at 3.2%, and the latest guess about the second quarter is 1.7%. That latter number is a disappointment for sure, but it is not a negative, says longtime trucking economic analyst Noel Perry. But what about freight?
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The freight market is still tight in 2019, despite changing conditions over the course of 2018 that originally drove it forward. Noël Perry, chief economist at Truckstop.com, thinks that the current data points to three possible outcomes.
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As FTR and Truckstop.com apply "big data" analysis to spot market pricing, Noel Perry, FTR transportation economist, offers some insights into the volatility of spot pricing and how spot prices correlate with contract pricing.
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