While there’s evidence emerging that truckload volumes may be stabilizing, the direction of spot rates remains uncertain, with upward pressure on prices as carriers continue to reject surge volume from shippers on their contracted lanes.
The trucking industry is the engine that keeps the American economy moving. Unfortunately, that also makes transportation companies occasional targets for scammers that are looking to steal from a $700 billion industry. Luckily, there are measures that motor carriers, freight brokers and 3PLs can take to protect themselves
DAT has acquired the Freight Market Intelligence Consortium, allowing us to give our customers unrivaled logistical insight and a stunning 360-degree view of the entire supply chain from both the contract and spot side of the market.
By and large, spring was not kind to carriers, so the higher rates we’ve been seeing in recent weeks are a welcome sign for trucking companies. If nothing else, this typical seasonal trend provides at least some piece of normality in what have otherwise been turbulent times for truckers.
The DAT iQ analytics team takes a weekly look at how the freight markets are responding to the COVID-19 crisis, offering updates on supply and demand, pricing, plus a detailed look at DAT iQ forecasting models and how they are reacting to the business climate.
This week, DAT Chief of Analytics Ken Adamo speaks with Chris Caplice; Chief Scientist at Chainalytics, Executive Director of Center for Transportation and Logistics, and Senior Research Scientist at MIT. Chris will be transitioning to DAT as part of the recent FMIC acquisition. Watch Ken and Chris discuss further in this interview.
Truckload markets have been on the rebound for the past three weeks, but the pace of recovery sped up last week. The combination of the shorter work week and the end of the month made truck capacity harder to find, which meant freight brokers and shippers paid more for truckload shipments.