163,318 truckers risk losing their CDLs when the FMCSA's new Clearinghouse rule takes effect in November. Here's what it means and how it impacts the industry.
Arrive Logistics shared its December 2023 freight market update, offering a comprehensive layout for logistics in November.
Key Insights:
Spot and Contract Rates: Van rates spiked around Thanksgiving, while reefer rates increased in early November but then dropped. The gap between spot and contract rates remains high, pressuring contract rates downward.
Flatbed Rates: Mostly unchanged, showing stability in the market.
Capacity Trends: Sufficient capacity despite regional surges, slower exit prolonging the current cycle.
Retailers: The National Retail Federation reports strong import numbers, signaling an end to destocking for retailers.
Truckload Rates:
Van Rates: Remained flat early November, spiked during Thanksgiving.
Reefer Rates: Increased early November, then dropped mid-December.
Hi! I'm Adriana and I've been working for FreightCaviar as Head Writer for a little over a year now. Some of my favorite topics to cover are FreightTech, Green Freight, and nearshoring/reshoring.
This insightful glimpse into the world of contract versus spot freight markets is contributed by Ruslan Shamanov, the Founder & CEO of Kavkaz Express, LLC.