Enterprise shippers only chose the lowest spot market freight bid 25% of the time, showing a preference for a carrier with high quality service instead of always opting for the lowest rate, according to PostBidShip.
Load availability on the spot market has been trending downward since August 2018, as capacity loosened and trucks became more available.
The spot market has not enjoyed the usual boost provided by holiday shipping so far in December, with spot market rates falling for all three major trailer types.
Spot market freight volume and rates fell for most equipment types last month, but holiday shipping is expected to give it a boost.
Uber Freight claims it’s “setting a new standard” for freight rate transparency with its new Lane Explorer tool.
Severe weather in Asia and the U.S. Eastern seaboard slowed seasonal freight flows in October, leading to truckload transportation delays at U.S. ports, according to DAT Solutions.
FTR has reported that its Trucking Conditions Index for September fell to the lowest level in a year, indicating there has been "some stabilization in freight rates and demand.”
The DAT Freight Index for September shows that despite a slight slump in activity, rates remain high for most trucking segments.
The spot market continues to cool a bit, with fewer loads posted and lower national average spot truckload rates, according to DAT.
National average van freight rates fell for the fifth week in a row, dropping 6 cents to $2.18 per mile for the week ending in Aug. 11, according to the latest numbers from DAT Solutions.