freight markets

Freight brokerages struggle through a long trough

The freight winter that sent Surge into bankruptcy and shut down Convoy isn’t over yet, even if the bottom is likely in. Tender rejection rates are hovering around 4%, indicating that capacity is still loose and that asset-based carriers aren’t in a position to reject contracted freight.

J.B. Hunt’s first-quarter results, reported Tuesday after markets closed, revealed the pain felt by the largest transportation providers and their brokerages. Integrated Capacity Solutions (ICS), Hunt’s...

https://www.freightwaves.com/news/freight-brokerages-struggle-through-a-long-trough

Edge Logistics fighting through the freight brokerage winter

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-8’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-8’); });

Surge Transportation declared bankruptcy in July. Convoy shut down its freight operations in...

https://www.freightwaves.com/news/edge-logistics-fighting-through-the-freight-brokerage-winter

Brokers: Shippers are pricing down contract freight faster

U.S. truckload capacity has continued to loosen in November as tender rejection rates fall and spot rates find a new floor. 

Freight brokers told FreightWaves that shippers are working contract rates down as the trucking industry enters bid season. For a few weeks in September and October, it appeared that contract rates were falling fast enough to start closing the gap between contract and spot, but spot carriers are again lowering their rates in lieu of a strong peak retail season...

https://www.freightwaves.com/news/brokers-shippers-are-pricing-down-contract-freight-faster

Uber Freight economist: Contract rates edging into negative territory

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...

https://www.freightwaves.com/news/uber-freight-economist-contract-rates-edging-into-negative-territory

Subseasonal trucking market still soft and loose

The U.S. truckload market is still soft, with accepted contract shipments running approximately 5.5% lower than the year-ago period, and loose, as only 5.5% of contract truckload tenders are being rejected by carriers.

When market conditions are favorable to carriers, they reject more contracted freight and deploy their assets in the spot market, striving to maximize yield or revenue per loaded mile. When market conditions are unfavorable, carriers tend to reject fewer shipments and take what...

https://www.freightwaves.com/news/subseasonal-trucking-market-still-soft-and-loose

How will the European energy crisis affect freight markets?

Volatility in European power markets stemming from EU and U.K. sanctions against Russian energy — imposed in retaliation for Russia’s invasion of Ukraine in February — may soon cool off, but only after carving a slice out of the continent’s economy. 

On Monday, U.K. Prime Minister Liz Truss announced plans to cap household energy bills at the equivalent of $2,300 annually. Meanwhile, German Chancellor Olaf Scholz unveiled a 65 billion euro relief package to ease the pain of energy prices that...

https://www.freightwaves.com/news/how-will-the-european-energy-crisis-affect-freight-markets

Power index: Top 10 pending bills affecting freight markets

Freight supply chains have never been more at the front of the average consumer’s mind than the past two years, and House and Senate lawmakers on both sides of the aisle have been responding with proposals that affect all modes.

Whether they can make it to the president’s desk is the question. So far in the 117th Congress, only 3% of bills introduced — including those rolled into larger pieces of legislation — have been signed into law, and that percentage is unlikely to climb much higher,...

https://www.freightwaves.com/news/power-index-top-10-pending-bills-affecting-freight-markets

5 burning questions: Vaccine mandates for cross-border trucking

ansport trucks pass under a "Bridge To USA" at the entrance to the Ambassador Bridge, US-Canada border crossing.

Starting on Saturday, the cross-border trucking community faces the first stage of vaccine mandates. The Canadian government is implementing its restrictions first. U.S. truckers will only be able to cross the border if they can show proof that they have been fully vaccinated against COVID-19. Meanwhile, unvaccinated or partially vaccinated Canadian truckers face testing and quarantines. A week later, on Jan. 22, the U.S. is expected to implement a similar policy on its borders with Canada and...

https://www.freightwaves.com/news/5-burning-questions-vaccine-mandates-for-cross-border-trucking

White Paper: How to Source and Secure Capacity in a Strained Market

The freight markets have experienced unprecedented levels of stress over the past two years. With the exception of an unstable period during the beginning of the coronavirus pandemic in early 2020, increasing demand and surging e-commerce sales have kept capacity suppressed. The ongoing driver shortage and manufacturing constraints surrounding new truck orders have exacerbated this effect.

FreightWaves and Tai Software partnered for this white paper to share the importance of why companies that...

https://www.freightwaves.com/news/white-paper-how-to-source-and-secure-capacity-in-a-strained-market

Cold weather, hot rates — #WithSONAR

with sonar header

A majority of the U.S. continues to be locked in a deep freeze, and the low temperatures and snowy conditions are putting a squeeze on the freight markets. 

On this episode of #WithSONAR, Luke Falasca and Kyle Taylor look at how rates and capacity are being impacted with major markets like Houston and Dallas being knocked off-kilter. They host Kyle Lintner, principal and managing director of K-Ratio, to share his thoughts on the problems plaguing carriers right now. 

Taylor said it has not been a...

https://s29755.pcdn.co/news/cold-weather-hot-rates-withsonar

+ More