"Freight brokers appear unfazed by the collapse in spot truckload rates and the effects of moderating economic activity on demand, contractual rates and gross margins," Bloomberg Intelligence officials said.
In honor of National Truck Driver Appreciation Week, Truckstop set a new Guinness Word Records title — with toys!
Recession and inflation concerns are weighing on the profitability of small carriers in the spot market, according to a survey of owner-operators and small fleets.
Data shows that more than half of the owner-operators surveyed would reconsider their profession if they could not take their pet with them on the road.
A Truckstop.com survey on what motor carriers are experiencing revealed just how stressful the current environment is.
Truckstop.com's new Rate Insights platform allows users to see same-day spot market rates instead of 30-day lane-level rates.
Spot truckload freight hit new highs in January, nearly $1 a mile higher than a year ago, according to DAT Freight & Analytics, even as the number of loads moved dropped throughout the month.
While some have predicted a cliff-event drop in spot rates like in 2018, there is evidence that we may instead see more of a contract rate extended plateau, similar to what we saw in 2011-2012, Jeff Kauffman suggests.
According to DAT Solutions, spot truckload rates for van, refrigerated, and flatbed have all seen increases since last month, with supply chain disruptions caused by COVID-19 pushing more freight to the spot market at a time when demand for truckload capacity usually declines.
Spot market freight levels were down for the Independence Day holiday week, but rates were up, according to DAT and Truckstop.com, two major services tracking spot market data.
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