Uber Freight's new program draws scrutiny, ILA negotiations hit a wall, and FMCSA's Operation Protect Your Load takes aim at unlawful freight brokerages.
Will Jenkins is betting on Shipper CRM. Curious why he says it’s ‘a must-have’?
Plus: Schneider to soon launch new intermodal service, Home Depot's Q3 earnings, UberFreight + Greenbriar's creative deal, and more.
Amidst a surplus of supply and dropping demand, contract rates in the dry van truckload market continue to experience a downward trend.
The dry van truckload market is currently experiencing a notable dip in contract rates, mirroring a broader trend seen across both contract and spot rates in the sector. Contract rates have been in a steady decline since the explosive demand growth instigated by the pandemic began to recede. As we settle into a buyer's market characterized by an abundance of supply, the downward pressure on contract rates continues. The current Outbound Tender Reject Index (OTRI) stands at a mere 3.5%, indicating fierce competition among carriers for business and driving contract rates even lower. The market outlook suggests these rates could continue to fall further unless there is a significant capacity withdrawal or a sudden spike in demand.
Additionally, while spot rates are predicted to remain broadly stable, a possible increase around the holiday season could impact the contract-spot rate spread.
Source: FreightWaves
Freight markets show slow recovery signs, but challenges persist. Dive into the latest tonnage, load-to-truck ratios, and order data shaping the trucking industry.
Fed Chair Jerome Powell hints at imminent interest rate cuts to support the labor market. Markets react positively as September meeting looms.
ACT Research lowers 2025 truck forecasts as inventory hits record levels. FTR reports July Class 8 orders below expectations, signaling market shifts.
We're breaking down the ten van, reefer, and flatbed lanes with the biggest year-over-year spot rate changes in June. Here's what you need to know.
Join over 12K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe & be sure to check your inbox to confirm (and your spam folder just in case).
