Across Uber Freight’s network, truckload contract rates are well past their peak and now headed into negative territory compared to last year, officials from the firm told FreightWaves on Tuesday.
Uber Freight Senior Economist Mazen Danaf and Transplace Senior Vice President for Procurement and Engineering Ben Cubitt recounted how the U.S. truckload market quickly shifted at the beginning of 2022 as rates fell as fast as they had risen in 2020.
“In terms of rates, we saw an unprecedented increase...