“How am I doing?” This is a typical question among shippers in a volatile market without visibility into how their network of logistics partners and service offerings measures up against the performance of peers and competitors.
Truckload freight volumes and spot rates held firm in June while contract rates fell to their lowest points in almost two years, said DAT Freight & Analytics, which operates a major online freight marketplace and the DAT iQ data analytics service.
Truckload freight volumes and spot rates held firm in June while contract rates fell to their lowest points in almost two years, according to DAT Freight & Analytics.
More freight-industry stakeholders—most notably 3PL AFS Logistics and TD Cowen in their analysis of their new Q3 freight index—prognosticate about a possible walkout by Teamsters at the giant parcel carrier and the impact of bankruptcy at LTL Yellow.
US shippers and logistics providers that have enjoyed pricing power and transportation savings this year are increasingly concerned about the potential impact of a Teamsters union strike at UPS and a shutdown at Yellow, one of the largest US less-than-truckload (LTL) trucking companies.
Excess capacity isn’t likely to last long, and firms are slashing supply chain costs to prepare.
DAT Freight & Analytics on Tuesday acknowledged the rise of freight fraud and double brokering while introducing its plans "to reduce the risk of fraud and double brokering in the trucking industry."
A Teamsters strike looms as the current agreement covering more than 340,000 full- and part-timers expires July 31. But shippers might start diverting freight as soon as this week—and the effects could start to show in the beleaguered spot market.
Trucking giant Yellow Corp. might have gotten a second wind ahead of possible bankruptcy concerns, but shippers might be taking their business elsewhere.
DAT takes action against freight industry fraud with multi-factor authentication, educational resources, and enhanced security measures.