A robust, proactive, and responsive security system is essential to reduce cargo theft risks effectively. Leading the charge in these solutions is remote live video monitoring. Learn more here.
In the latest episode of "The Freight Caviar Podcast", we sit down with Danny Frisco, CEO & Co-Founder at Rapido Solutions Group. He discusses the advantages and disadvantages of outsourcing and Rapido's future growth plans.
Plus, an EV maker partners with Ryder to test a hybrid diesel system, HappyRobot releases an AI update for brokers, and load board traffic declines over the past 3 months.
Greenscreens.ai published its March 2024 Spot Market Update, revealing how spot rates are moving across the map.
National Carrier Spot Rate Trends
Van and Reefer rates were down a bit, showing a -3.2% and -3.9% shift from last year's end. Meanwhile, Flatbed saw an increase at +2.1%.
Regional Carrier Spot Rate Trends to 23H2 Baseline
The Midwest grapples with the steepest Reefer rate decrease at -6.8%, while the Southeast shows a mixed bag: a slight dip in Reefer rates at -0.8% but a notable rise in Flatbed rates at +4.5%.
Region
Van (23H2)
Reefer (23H2)
Flatbed (23H2)
Midwest
-4.1%
-6.8%
+2.9%
Northeast
-3.3%
-4.1%
+2.3%
Northwest
-2.8%
-6.2%
-4.4%
South
-0.5%
+1.0%
-0.8%
Southeast
-3.1%
-0.8%
+4.5%
Southwest
-5.8%
-6.5%
+1.1%
Regional Carrier Spot Rate Year-over-Year Trends
March '24 spot rate trends hit Reefers in the South hardest at -11.8%, while the Midwest felt the pinch across all types, with Vans and Reefers down by 7%. Here's a closer look at the numbers:
Region
Van (YoY)
Reefer (YoY)
Flatbed (YoY)
Midwest
-7.0%
-7.5%
-7.5%
Northeast
-6.9%
-6.7%
-5.4%
Northwest
-2.5%
-0.5%
-4.9%
South
-7.3%
-11.8%
-6.4%
Southeast
-5.9%
-6.9%
-3.6%
Southwest
-4.2%
-1.6%
+2.3%
Outlook? As Q1 rounds the bend, the second quarter's horizon could signal a milder climate for van and reefer rates or a long haul through the rest of '24 if downward trends persist.
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.
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