Tender rejections hit an all-time high as spot rates grind higher.
Rates and rejections holding at very high levels before Thanksgiving and Black Friday.
The transportation management system (TMS) platform has come a long way over the past decade — from a key differentiator for some transportation and logistics companies to a must-have for all. According to market research firm Grand View Partners, the global market size for TMS platforms was estimated at $61.2
The national average refrigerated truckload spot rate on Truckstop.com’s load boards is an incredible $3.36/mile, including fuel. That has kept reefer tender rejections very high and operating ratios very low. We called the bull market for refrigerated trucking transportation in our June 1 note, “Reefer markets: Enjoying a positive setup.”
Truckstop dry van truckload spot rates from LA to Dallas spiked 11.5% week-over-week.
Asset-based truckload carriers are in their best position since 2018: Revenue per driver per week is surging, empty miles are down, and operating ratios are low. Carrier performance is being driven by robust volumes and tight trucking capacity, with both sides of the marketplace being affected by the COVID-19 pandemic.
Tender rejections increased in LA, Dallas, and Chicago—and so did the national average spot rate.
Gross margins narrowed across the board, but 3PLs moved more volume with fewer people.
Shippers are raising contracted rates and intermodal volumes are growing, taking some pressure off spot markets. But we expect markets to turn up this week.
We’ve already seen a number of transportation companies report third-quarter earnings results and so far what we’ve heard is in line with the first stage of an upcycle. In general, that means that the more sensitive a transportation company’s revenues are to cycles in the trucking spot market, the
Markets have been flat to soft for two weeks, but expect a turn-up heading into November.
Reefer capacity remains tight, volumes are strong and spot rates are very high. In fact, at $3.29/mile including fuel, national average reefer spot rates on Truckstop.com’s load boards have not yet retreated from their YTD high. Midwest to the East Coast lanes have the most momentum and may continue
Carriers are still exercising optionality and charging a premium to drive into backhaul markets.
All signals are flashing green for truckload carriers. Growing revenue per driver per week and falling empty-mile percentages pushed operating ratios down, giving carriers more confidence to purchase new and used equipment. In most lanes in the country, carriers hold pricing power and will be able to increase contract
Expect volatility to the upside in Q4.
The pricing accuracy of any given lane is based on its daily load volumes. In financial jargon, volume is referred to as liquidity. The more volume, the less friction in buying and selling, the more liquid a transaction becomes. Stocks traded on the New York Stock Exchange (NYSE) are one
Global trade as a percentage of global GDP peaked in 2006 for a variety of reasons. Geopolitical tensions are creating more friction in global trade, while automation is smoothing out the labor cost arbitrages that shifted manufacturing from the U.S. to Asia in the 1980s and ’90s. Meanwhile, more
Shippers, especially retailers, are giving ground on price to secure capacity for what promises to be an unpredictable Q4.
Rates pulled back by 1.3% w/w, but moves by brokerages and carriers indicate they think the rally has legs.
Tender rejections have fallen for a week, but that doesn't mean that rates will.
Although driver hours of service (HOS) is now firmly sewn into the trucking industry, it was a subject of contention in the months leading up to the electronic logging device (ELD) mandate in late 2017. U.S. trucking fleets were mandated to install ELDs as gatekeepers to monitor cab activity