Trucking Made Successful Miranda TMS

Convoy is closing its doors, and freight brokers are struggling to keep their business going just like carriers are. So the question is, what will happen with the freight market and in the trucking industry in the future considering the current freight recession?

Freight market is continuing to be stagnant, as are load volumes and load rates.

We will be looking at what is going on with diesel prices, how many carriers net left so far this year up to this point, what is happening with freight volumes and rejections for dry vans, reefers and flatbeds, and then we will compare todays market to the past 5 years and will have a clear picture of why we are facing what we are facing on the spot market.

Freight volumes crashed this week which was unexpected. It is possible that it has to do with the United Auto Workers (UAW) strike. Tender rejections however are experiencing a sharp increase which is surprising. Diesel prices are slowly decreasing. Lets talk about how all of this affects the spot market rates and spot volumes for Flatbeds, Reefers and Dry Vans, and where the best markets are next week if you want to get better loads. 

Capacity is the culprit of our situation with the rates today. So let's chat about how it can change, what historical data shows, and what we can expect next.

Unfortunately, the market is continuing to deteriorate despite the fact that truck capacity is decreasing. Diesel prices saw some momentary relief this week, while rejection rates fell more. Freight volumes are holding strong, but spot volumes are down for flatbeds, reefers and dry vans.