Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
FTR forecasts a positive turn for dry van and reefer spot rates despite an industry-wide loss of capacity and concerns over economic inflation.
FTR Transportation Intelligence predicts that the downward trend of spot rates for dry van haulers could be nearing its end, with modest gains projected through the year's end. FTR Trucking Vice President Avery Vise stated that the freight outlook is set for slow-growth, but it could be the bottom for dry van and reefer rates in the spot market. Vise also shared that the trucking industry is losing capacity as various entities are seeing a loss of authority at an accelerating rate.
Inflation and Its Impact on the Freight Industry
Despite the moderate economic inflation, the freight industry continues to grapple with higher costs. Avery Vise noted the potential for further interest-rate increases from the Federal Reserve due to persistent services inflation. He also addressed concerns about the drop in personal savings rates, which could signal future economic difficulties. However, Vise stated that the high levels of household reserves could mean the continuation of current consumption rates, offering some stability to the industry.
Source: Overdrive
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
We are currently getting insider information from a freight broker who is dealing with this situation.
Join over 10K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe now & be sure to check your inbox to confirm (and your spam folder just in case).
