US truckload spot rates are rising seasonally as the summer approaches but remain at or below year-ago levels in the largest trucking lanes, data from several sources indicates.
A national average fell to $3.658 per gallon, with a Midwest region seeing the biggest drop.
From a carrier’s perspective, the way shippers procure transportation can seem arbitrary, with limited thought or imagination. Run a bid and pick the lowest rates.
Almost 6 months ago I wrote about how various indicators suggested the dry van truckload (TL) market was poised for a weak market during the start of 2024. Unfortunately for dry van TL carriers, that prediction has come to pass as evidenced by weak earnings of large public dry van TL carriers in Q1 2024.
It was “more of the same” for freight markets in April, according to industry sources. The amount of freight that’s available to haul declined once again, and the rates shippers are paying to haul available loads declined too.
Some spot truckload rates, for certain truckload segments, trended down in April while volumes inched up, according to the new edition of the DAT Truckload Volume Index (TVI), which was recently issued by DAT Freight & Analytics.
Load posts and rates in the spot market increased last week—but posts and rates remained down year over year—according to the latest reports from FTR Transportation Intelligence and DAT Freight & Analytics.
Informational powerhouses DAT and SONAR will duke it out for bragging rights and a generous charitable donation at the Future of Supply Chain 2024 in Atlanta, Georgia on June 4-5.
In some ways, Erika Voss and Lisa Henshaw of DAT Freight and Analytics are as different as night and day. In all the ways that matter most, however, both executives are cut from the same cloth. Both are innovative leaders who are attracting national attention in their respective fields of expertise as they work to keep data and people safe. In addition, both Voss and Henshaw are excelling in what is traditionally a man’s industry, reflecting changing perceptions throughout trucking.
The Transportation Intermediaries Association, the main trade group for freight brokers and 3PLs, has taken up what they hope will be an industry-wide fight against freight fraud, admitting that scammers are hurting their business and reputation. The fight isn't exactly going their way just yet.