A recurring theme in this pandemic-driven freight market has been tight capacity, which has fueled a seven-month rally in spot truckload rates and pushed contract rates higher at the same time.
Experts say the pandemic prompted changes in consumer behaviors that affected shipping in major and intricate ways. As an example, Adamo points to the changing consumption of nonalcoholic drinks such as soda and iced tea.
According to shipping broker DAT Freight & Analytics, in November, there were 4 1/2 truck loads needing to be shipped for every truck out there. That’s double what it was last year.
From July through the end of November, almost 31,000 trucking firms registered or obtained motor-carrier authority with the FMCSA — more than in all of 2015.
Spot market rates for van and refrigerated (“reefer”) freight again rose to all-time highs in November
Spot truckload freight postings, for the week ending December 13, fell 15%, and trucks available on the spot market rose 13%, which it said serves as an indication that spot truckload capacity is loosening up in advance of Christmas.
With less freight and more trucks in the marketplace during the week ending Dec. 13, spot truckload pricing was generally flat compared to the previous week
Spot truckload freight postings fell 15% while the number of trucks available on the spot market increased 13% last week, a sign that capacity is loosening ahead of the Christmas holiday, said DAT Freight & Analytics
Spot truckload freight postings fell 15% by volume while the number of trucks posted as available on the DAT load boards increased 13% last week, a sign metrics are loosening ahead of the Christmas holiday
With less freight and more trucks in the marketplace during the week ending Dec. 13, spot truckload pricing was generally flat compared to the previous week.