Freight market

Trailer orders plunge 38% in November compared to October

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Trailer orders tanked in November, falling 38% from October accompanied by the lowest production...

https://www.freightwaves.com/news/trailer-orders-plunge-38-in-november-compared-to-october

True nonrecourse factoring offers unparalleled protection for carriers

The ongoing freight recession has created a difficult operating environment for carriers and brokers alike. The sheer amount of capacity in the markets remains significantly higher than demand. At the same time, brokers are entering and exiting the market at a rapid pace.

This combination of challenges has made it difficult for carriers to create and maintain lucrative partnerships in recent years.

While spirits were lifted during the third quarter of 2023, brokers and carriers have seen a stark...

https://www.freightwaves.com/news/true-nonrecourse-factoring-offers-unparalleled-protection-for-carriers

Freight marketplace Transfix secures $40M funding round

Despite a weak freight market, Transfix announced the closing of a $40 million Series F funding round led by New Enterprise Associates (NEA) and G Squared, with participation from Canvas.

The latest funding strengthens Transfix’s financial position, supports a path to profitability and represents confidence from investors in the company’s approach, Transfix officials said.

New York-based Transfix is a digital freight marketplace connecting shippers and more than 30,000 carriers. The company was...

https://www.freightwaves.com/news/freight-marketplace-transfix-secures-40m-funding-round

Uber Freight thinks pendulum may start to swing soon

Mazen Danaf, an MIT-trained staff applied scientist and economist at Uber Freight, has been tracking the evolution of trucking capacity in the United States, trying to make sense of the dogged persistence of loose capacity in a challenging, depressed rates environment.

“Almost every mile driven in the spot market could be a losing mile,” Danaf said in a call with FreightWaves. “Even for large carriers who only go into the spot market 15% of the time, it doesn’t make sense except for a backhaul...

https://www.freightwaves.com/news/uber-freight-thinks-pendulum-may-start-to-swing-soon

Loaded and Rolling: Freight market downturn turns 1 year old

Freight market downturn turns 1 year old

(Source: FreightWaves SONAR)

It has been just over a year since Craig Fuller, CEO and founder of FreightWaves, wrote an article titled “Why I believe a freight recession is imminent,” published March 31, 2022, in which he predicted the U.S. trucking market was heading toward a significant downturn. 

Fuller noted the reaction in a follow-up article published Monday: “At first, there was a great deal of vitriol aimed at the FreightWaves analysis and also...

https://www.freightwaves.com/news/loaded-and-rolling-freight-market-downturn-turns-1-year-old

What’s contributing to freight market volatility chaos?

It’s no secret the freight industry is highly cyclical.

“Every year or two there is a recession and then there’s a spike, specifically in the freight industry,” said Margie Hamlin, head of operations and accounts at Leaf Logistics.

The transactional, load-by-load way that freight is contracted remains an issue, according to Hamlin. The odds of shippers being able to look ahead and have capacity and cost certainty is slim to none.

“And this leads to interesting behaviors that exacerbate the...

https://www.freightwaves.com/news/whats-contributing-to-freight-market-volatility-chaos

Thriving in the midst of uncertainty

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Truckload market loosens again as tender rejections touch new low

By now, most industry observers and analysts agree that the U.S. truckload market has slowed significantly, part of a broader goods normalization and hangover in our COVID-recovery. Multiple spot rate benchmarks have been falling for months; capacity metrics have loosened. Accepted contract loads (CLAV.USA) peaked in October 2021 and just took a sharper turn downward. 

National outbound tender rejections (OTRI.USA), which measure the percentage of truckload shipments tendered by shippers that...

https://www.freightwaves.com/news/truckload-market-loosens-again-as-tender-rejections-touch-new-low

The benefits of transparency and technology in a softening market

The trucking industry is highly cyclical, and each cycle has its own challenges. In the past few years, demand has been high due to challenges related to the many shutdowns during the COVID-19 pandemic and, more recently, the driver shortage. 

However, while freight demand is still present, the industry is seeing a softening. But according to Spencer Hennigar, vice president of sales at Convoy, this particular softening demand cycle has proved to be a little different from those in the past.

“One...

https://www.freightwaves.com/news/the-benefits-of-transparency-and-technology-in-a-softening-market

Technology will prove crucial during market downturn

White tractor-trailer traveling toward dark storm cloud.

The logistics industry is undergoing a serious technological revolution. The space, which was once characterized by its reticence to embrace modern solutions, has changed rapidly since the ELD mandate went into effect almost five years ago. Now, it is clear that technology offers a pathway to a safer – and more profitable – future. 

Additionally, the freight market has experienced a slow but steady softening over the past few months, balancing the pricing power between shippers and carriers. As...

https://www.freightwaves.com/news/technology-will-prove-crucial-during-market-downturn

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