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.
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?
A new index provides visibility on the state of the trucking market as anticipation of an economic restart grows.
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.
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.
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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