Crete Carrier had a 400% increase in load turndowns in February and that is just one of the metrics that indicates the current conditions of the freight market. [/caption]
Tonn Ostergard also noted the company’s load turndown rate increased 400% in February
Is the industry hot right now? It sure is, based on comments at the Transportation & Logistics Council’s 44th Annual Conference, being held this week in Charleston, SC. That was reinforced by Tonn Ostergard, chairman & CEO of Crete Carrier Corp., during his lunchtime keynote address.
“We had 400% more loads tended to us [in February] than we could accept,” he told the audience of brokers, shippers, 3PLs and carriers. “So, I think that tells you how hot the market is.”
Ostergard said Crete saw a 400% increase in its turndown rate (the number of loads it didn’t accept) in February compared to February 2017.
Ostergard touched on a number of subjects in his wide-ranging address, including the Amazon effect on freight, which he says is “a real paradigm shift that is rippling through our whole social structure, including trucking and I don’t think you ever go back from a paradigm shift.”
The result is ever-increasing pressure from shippers and end-customers who want goods moved faster and cheaper. “It’s certainly stressing the supply chain,” he noted.
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