Spot-heavy 3PLs are looking for freight while brokers with good contract relationships are getting rewarded.
Shippers aren’t shy about moving contract rates down in RFP negotiations, and even brokers are surprised at how cheap capacity has become.
Asset-based carriers think contract rates are going up; brokers think they’re going down.
On today’s episode, Chad Prevost talks with Nick Austin and John Paul Hampstead about weather conditions and the current pressure on contract rates.
Cowen expects softening trucking prices in 2019 to be a headwind for truckload carrier earnings, but should widen gross margins for freight brokerages.
The November Market Update, presented in partnership with Convoy, featured FreightWaves CEO Craig Fuller and Chief Economist Ibrahiim Bayaan, who discussed macroeconomic data and trends in freight markets.
Wiehoff says demand should stay firm while supply comes on-stream. Firm posts strong Q3 results.
In Partnership with Arrive Logistics… we talk freight market data with executives from Arrive Logistics and ask them how they’re preparing to handle surging volumes in Q4 and beyond.
All three modes of truckload freight are reflecting an environment in which demand exceeds capacity by a wide margin, which sets up for continued strong contract pricing.
We consistently hear from shippers that the contractual freight process is failing them. It’s a slow and static process that is misaligned with the fast-paced and volatile freight market. Today, we are announcing Dynamic Backup giving shippers real-time, guaranteed prices for contractual freight. Read the Full Blog Post
The spot market is normalizing; XPO’s Brad Jacobs talks jazz and M&A; China COSCO’s purchase of OOCL might be held up; railroad Teamsters want NAFTA changes; weak spot rates for container ships pulling down contract negotiations; Xi looks for a way out of the trade war.
For fleets that spend time operating on load boards, the high spot rates are a blessing. For shippers, though, it’s been a challenging time as they have been forced to adjust to a new era in trucking.
For the first time since DAT began reporting its data in the current format, the monthly spot rate has exceeded the contract rate at the same time in all three modes. And the latest DAT Trucking Freight Barometers are continuing to signal that the ‘fall surge’ is happening for the first time since 2007. Now is a good time to have secured capacity and a bad time to be locked into contract rates.
