Monday, January 30, 2023
FreightWaves Passport
  • Home
  • Research
    • 3PLs
    • Carrier Outlook
    • Featured
    • Financials
    • Freight Market Outlook
    • Global Trade
    • Intermodal
    • Most Popular
    • News
    • Special Topic
    • Trucking
  • Education
  • Community
  • Events
  • Resources
    • Webinars
    • Meet the Team
    • Contact Us
  • Sign Up
  • Account
  • Log In
No Result
View All Result
FreightWaves Passport
  • Home
  • Research
    • 3PLs
    • Carrier Outlook
    • Featured
    • Financials
    • Freight Market Outlook
    • Global Trade
    • Intermodal
    • Most Popular
    • News
    • Special Topic
    • Trucking
  • Education
  • Community
  • Events
  • Resources
    • Webinars
    • Meet the Team
    • Contact Us
  • Sign Up
  • Account
  • Log In
No Result
View All Result
FreightWaves Passport
No Result
View All Result
Home Featured

Reefer markets: Ending the year with a bang

by Tony Mulvey
Friday, December 11, 2020
in Featured, Trucking
Reading Time: 1min read
0

(Photo: Jim Allen / FreightWaves)

Refrigerated trucking carriers are closing out a whirlwind year in a strong position, supported by the favorable business conditions of strong demand, tight capacity, imbalanced networks, and high rates that have prevailed since midsummer. 

National average reefer spot rates on Truckstop.com’s load boards are at $3.45/mile inclusive of fuel, a year-to-date high and well above any level reached in 2019. The data from the Truckload Carrier Association’s Truckload Profitability Program, a consortium of approximately 175 midsized carriers, also reflects these conditions: Revenue per driver per week for consolidated reefer fleets (company fleet and leased owner-operators) has topped $4,400.

The restaurant industry remains suppressed by high COVID infection rates and lockdown orders in a number of states and localities, pushing consumers into grocery stores. In our view, the nature of the vaccine, which requires stringent temperature controls and will be prioritized for distribution, will also be an important tailwind for reefer demand. 

As more Americans are vaccinated, the distorted mix-shift in consumer spending that has tilted toward grocery shopping will begin to normalize, likely in the second quarter of 2021. The risk for refrigerated carriers here is that those carriers who raised driver wages aggressively in order to seat their trucks and expand their fleets may see operating margin compression when spot rates cool.

Members Only

You have selected content that's only available to members of FreightWaves Passport. As a member, you gain immediate access to the most in-depth and informative freight research available. It's your gateway to continuing education.

Members also get:

  • Access to exclusive community dedicated to discussing the most important challenges facing freight.
  • Monthly and Quarterly Freight Market reports keeping you informed of industry trends.
  • Much, much more!

Click below to learn more and sign up today!

Subscribe
Existing Passport subscribers may log in using the form below.

 
 
Forgot Password
Tags: logistics researchreefer capacityReefer marketsreefer spot ratesreefer volumestransportation research
ShareShareTweetSend

Tony Mulvey

Research Associate, FreightWaves

Related Posts

3PLs

Rocky road on the way in 2023?

Monday, December 12, 2022
Department stores find leading economic indicators in freight market data
3PLs

Department stores find leading economic indicators in freight market data

Thursday, November 17, 2022
Lumber companies face complex freight decisions
3PLs

Lumber companies face complex freight decisions

Wednesday, October 26, 2022
Next Post
Trucking markets: Spot rates slide off YTD highs in soft week overall

Trucking markets: Spot rates slide off YTD highs in soft week overall

Popular Research

  • Falling freight demand shapes 2022 outlook

    0 shares
    Share 0 Tweet 0
  • Lumber companies face complex freight decisions

    0 shares
    Share 0 Tweet 0
  • Rocky road on the way in 2023?

    0 shares
    Share 0 Tweet 0

By Categories

  • 3PLs (119)
  • Carrier Outlook (6)
  • Featured (71)
  • Financials (22)
  • Freight Market Outlook (1)
  • Global Trade (6)
  • Intermodal (109)
  • Most Popular (27)
  • News (81)
  • Passport Research (35)
  • Rail (98)
  • Shippers (33)
  • Special Topic (99)
  • Technology (19)
  • Trucking (160)

FreightWaves Passport




Research built for present and future c-suite executives.





Benefits

  • Research
  • Education
  • Community
  • Events

Research by Topic

  • 3PLs
  • Carrier Outlook
  • Featured
  • Financials
  • Freight Market Outlook
  • Global Trade
  • Intermodal
  • Most Popular
  • Special Topic
  • Trucking

Resources

  • Webinars
  • Meet the Team
  • Contact Us

© Copyright 2021 | FreightWaves, Inc. | All Rights Reserved

No Result
View All Result
  • Home
  • Research
    • 3PLs
    • Carrier Outlook
    • Featured
    • Financials
    • Freight Market Outlook
    • Global Trade
    • Intermodal
    • Most Popular
    • News
    • Special Topic
    • Trucking
  • Education
  • Community
  • Events
  • Resources
    • Webinars
    • Meet the Team
    • Contact Us
  • Sign Up
  • Account
  • Log In

© Copyright 2020 | FreightWaves, Inc. | All Rights Reserved