Carriers are grappling with unfavorable market shifts across the board. With prowess and the right partners, however, carriers can remain profitable — and even competitive — in a loosening market.
Historically, November is the month in which maritime imports begin to move inland for their final push before the holiday shopping season. Yet such imports were lost at sea this year, failing to materialize during ocean shippers’ peak season. This one-two punch of weakened import volumes and overstocked retail inventories means that carriers are left with fewer opportunities to source freight.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Shippers are expected to do their due diligence when it comes to choosing carrier partners. That includes choosing companies that are working within FMCSA guidelines, a task that requires knowledge of said guidelines.
Fourth-quarter 2022 Freight Sentiment Index (FSI) numbers show near-term pessimism for carriers but slight optimism for shippers, 3PLs and carriers in the longer term.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
Hurricane Ian boosted spot rates in the southeast over the past 10 days, but as rejection rates and volumes decline, when will spot rates on a national level take another step lower.
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.
One area that carriers have emphasized this year is “ugly freight” – or non-conveyable shipments. These are packages that are hard to put through their automated systems.
