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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.
The looming business and economic impact on the trucking industry from COVID-19 pandemic is “kind of like there’s a big hurricane coming in, and it’s one of the nastier storms in history. But so far you’re just seeing some waves on the shore.”
Kingsgate Logistics has joined a pilot program that provides early access to a suite of predictive rates and analytics tools from DAT Solutions.
Barring the unexpected, trucking can generally expect flat to moderate growth in demand and rates in 2020, with most of the growth in the second half of the year.
Transport Pro has announced a new e-signature tool to make it easier for brokers to share electronic rate confirmations with carriers.
The latest reports from ACT Research show improvement in for-hire freight volumes, but also a slide in the Freight Rate Index in December and a slight improvement in the economic outlook for 2020.
DAT Solutions is supplying Knight-Swift Transportation with a new rate forecasting tool to provide actionable short-term and long-term insights into transportation markets.
Digital freight-matching company Convoy said it’s achieved a trucking-industry first: 100% automated brokering of loads to carriers, including matching and pricing, on lanes in top freight markets.
While it’s been a challenging year for the trucking industry in some ways, comparisons to the runaway market of 2017-2018 may make it seem worse than it is. In their monthly State of Freight webinar Dec. 12, the transportation intelligence analysts at FTR discussed the top trends affecting freight volumes and rates.
Will the fourth quarter be a field goal or a fumble? How does 2020 look from here? HDT Editor in Chief Deborah Lockridge talked to the HDT Editorial Advisory board for a snapshot of conditions and concerns.