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Trucking companies are bracing for a slowdown in their business, with many looking to mergers and acquisitions for growth instead, according to reports this week in The Wall Street Journal.
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The number of posted loads on the spot market jumped 5.7% for week ending Oct. 3, as shippers rushed to move inventory before the end of the quarter while available truck capacity fell 4.5%, but the changes were not enough to advance rates.
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Freight rates on the spot market continue in their holding pattern, moving up little from one week to the next, according to the freight-matching service DAT Solutions.
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Rates on the spot market showed little to no improvement over the past week, with little of the usual after-Labor-Day jump in available freight .
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Rates and the amount of available freight on the spot market continue to be lackluster, but there is an indication prices could pick up at least somewhat in the near future.
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Freight volume followed a common seasonal pattern of declining in August on the spot freight market as linehaul rates also moved lower, pushing the latest DAT North American Freight Index down for the second straight month.
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Truckload linehaul rates paid by shippers increased again last month, while intermodal costs were mixed, according to two new reports from freight payment processor Cass Information Systems.
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Spot truckload van and refrigerated freight rates finally recovered a little last week after a period of higher demand and declining fuel surcharges, while flatbeds continued to lose ground, according to DAT Solutions, which operates the DAT network of load boards.
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Rates on the spot freight market keep moving slowly downward as the amount of freight to haul edged just slightly higher by 0.1% overall over the past week.
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Spot truckload rates, including fuel surcharges, remained nearly unchanged over the past week as overall load availability fell 5.5% during the week ending Aug. 22, according to DAT Solutions.
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