Land Line Now: Spot market update
Spot market capacity is rapidly decreasing. We break down the latest numbers courtesy of DAT.
Spot market capacity is rapidly decreasing. We break down the latest numbers courtesy of DAT.
Gill joins DAT from Nordstrom, where he served as Senior Vice President of Technology and Chief Product Officer. He drove technology product development at the company, including website and native apps, omni technology, services for search, order management, payments and credit, product catalog, inventory management and supply chain.
Flexport, the digital freight forwarder and a Convoy partner since 2018, is in talks to buy the defunct trucking marketplace’s technology stack, according to the Wall Street Journal.
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The pandemic led to both an ecommerce boom and port shutdowns that together placed unprecedented pressures on the global supply chain, generating an opportunity for startups to step in with novel tech for industries like trucking, shipping and logistics.
Seasonally declining shipments of retail goods and fresh produce decreased demand for truckload services last month.
Truckload freight volumes cooled in September, compounding an already difficult quarter for truckload carriers and freight brokers, according to recent analysis from DAT Freight & Analytics.
Truckload freight volumes cooled in September, compounding an already difficult quarter for truckload carriers and freight brokers, said DAT Freight & Analytics, which operates the industry’s largest online freight marketplace and DAT iQ data analytics service.
DAT Freight and Analytics’ index for truckload van demand in September, a 5.7% decline from August, helping send rates to their lowest levels since June 2020.
The depressed US truckload market is a long way from a turnaround, but trucking executives and analysts believe shipper concerns about subpar service and carrier failures will prevent spot prices from falling farther in 2023 and early 2024.