Supply Chain Brain: DAT Launches Three New Products to Manage Uncertainty of Freight Market
DAT Solutions has launched three new products to help truckload carriers and brokers manage some of the uncertainty in the freight business.
DAT Solutions has launched three new products to help truckload carriers and brokers manage some of the uncertainty in the freight business.
April spot freight rates are the lowest in four to five years.
“The pendulum swings both ways,” said Ken Adamo, chief of analytics at DAT. For instance, he said, the sudden deluge of loads in early March — freight like bottled water, toilet paper and refrigerated foods — caused rates to spike on the spot market
Demand for trucking cratered in April. DAT's load-to-truck ratio, a measure of demand, was down 32% year over year (YoY) for vans, down 33% YoY for reefers and down 72% YoY for flatbeds.
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The national average spot van rate hovered around $1.50 a mile during the week ending May 3, a four-year low despite improving freight volumes, said DAT Solutions, which operates the DAT load board network.
To say it’s not a trucker’s market right now is a mighty big understatement. Truckload rates tell the story.
The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized.
The stories from owner-operators about low freight rates abound.
CNBC’s Frank Holland reports that small truck companies may face bankruptcy without government aid.