• ITVI.USA
    13,815.580
    16.790
    0.1%
  • OTRI.USA
    21.480
    -0.180
    -0.8%
  • OTVI.USA
    13,792.000
    18.110
    0.1%
  • TLT.USA
    2.810
    0.010
    0.4%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    13,815.580
    16.790
    0.1%
  • OTRI.USA
    21.480
    -0.180
    -0.8%
  • OTVI.USA
    13,792.000
    18.110
    0.1%
  • TLT.USA
    2.810
    0.010
    0.4%
  • TSTOPVRPM.ATLPHL
    2.480
    -0.170
    -6.4%
  • TSTOPVRPM.CHIATL
    3.070
    -0.210
    -6.4%
  • TSTOPVRPM.DALLAX
    1.370
    -0.090
    -6.2%
  • TSTOPVRPM.LAXDAL
    2.280
    -0.210
    -8.4%
  • TSTOPVRPM.PHLCHI
    1.900
    -0.070
    -3.6%
  • TSTOPVRPM.LAXSEA
    2.720
    -0.270
    -9%
  • WAIT.USA
    127.000
    0.000
    0%
News

The Daily Dash: Spot rates continue their historic run

Spot rates have now gone from the basement to the penthouse

Spot rates have now gone from the basement to the penthouse

Load volumes continue to increase week-over-week like clockwork. The gain in outbound tender load volumes this week was another 1.4%. Capacity tightened even further heading into the holiday weekend. Outbound tender rejections are now signalling that a touch more than one in four contracted loads are being rejected by carriers. This has pushed spot rates up 33% this year to a frothy $2.75 per mile based nationally

You can learn more about what’s happening in the spot market below with FreightWaves’ weekly show dedicated to the latest action in the spot market below.

Capacity crunch: Drivers are slow to get back behind the wheel again

August employment rates indicate there is still quite a deficit of drivers since the swift exit of jobs and drivers in April. The latest jobs numbers do show a healthy gain of 10,000 transportation jobs in August. Year over year numbers show that transportation jobs are roughly 6% lower than in 2019 though.  

According to the Truckload Carriers Association (TCA) driver turnover has recovered since the April low of 55% and is now at 76%. This is a tad bit lower than July of 2019 when driver turnover was pegged at 80%. 

Construction employment levels are recovering at a faster clip than the trucking sector. Chart: SONAR EMPS.CONS, EMPS.TRUK

Construction employment levels are recovering at a faster clip than the trucking sector. Chart: SONAR EMPS.CONS, EMPS.TRUK

Air cargo rates set to take off again  

After three weeks of stable rates, the air cargo market is taking off. Rates are now climbing again. Asia to North America is now seeing the most action as product launch season gets closer to reality. With ecommerce growth accelerating even further than most would have forecast for 2020, and flights grounded due to the pandemic, the fourth quarter holiday rush should be an interesting rate environment for the market. 

Articles to keep you on top of the Freight Market:

Breaking News: Trump Administration releases mandatory guidelines on hair testing for drugs

UPS testing of telematics tools draws ire of union dissident group

Industry bands together to grant dying trucker’s final wish (with video)

White Paper: 2020 Q3 Carrier Rate Report

Kevin Hill

Kevin Hill is the executive publisher at FreightWaves, where he formerly served as director of editorial and research. Kevin is also the host of Put That Coffee Down, the popular freight sales podcast, a former freight broker and the founder of CarrierLists. Kevin holds an MBA from the University of Oklahoma.

One Comment

  1. Brooklyn New York owner operator said he parks in paid parking in new Jersey to go home for time off and keeps a gun in the truck . He’s from Pakistan and said if you don’t stay away from me I will shoot. Your stealing my freight. When I’m a company driver and don’t know how to get a load.