September’s TVI reading—at 229—fell 1% from August. Despite the decline, this still marks the highest reading for any September on record, according to DAT. The TVI hit its all-time high in June, coming in at 237.
Despite a 1% drop in DAT's Truckload Volume Index, rates hit a high mark for any September—ever. With historic supply chain constraints, the holiday shipping season began early, driving van rates to a new monthly high for the fifth time this year.
The national average contract van rate was $2.85 per mile, up 3 cents compared to August. Read CCJ for more.
JLL’s H2 2021 Construction Outlook forecasts scant materials and labor availability continuing to constrain recovery through the first half of 2022, with worsening cost and labor conditions as nonresidential work volume finally begins to rise.
Rates across the dry van, flatbed, and reefer segments all continued to climb through the first week of October. Details here on Overdrive.
Powell bought the truckload division of Arkansas Best Corporation in 1983, which he later renamed to USA Truck. Also: DAT announces new factoring partner for load board; Kenworth plant wins state environmental award.
The backlog of freight in Southern California is forcing more shippers to the truckload spot market as they search for any available capacity to speed goods inland.
Class 8 orders fell, as chip shortages limit OEM's build slots. "The supply chain remains a huge mess," FTR's Don Ake said.
The global supply chain that brings toys, clothing, electronics and furniture from Asia to the United States each year is clogged, an enduring impact of the pandemic that is unlikely to ease soon.
At the end of July I drove up from Boston to the annual Gear Jammer magazine truck show in Winchester, N.H. Everyone's eyes were on the polished-up rigs but the main topic of conversation centered around drivers.