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.
Spot market faces a stagnant bottom due to lack of consistent trends. While there are some rate upticks, major surge in rates seems unlikely without a significant market shift.
The spot market has hit a stagnant bottom with the lack of consistent market trends impeding momentum recovery, says Dean Croke from DAT Freight and Analytics. Despite some increases in spot rates since May, as reported by Arrive Logistics, it's believed these are due to seasonal fluctuations rather than fundamental market shifts. ACT Research suggests that while the spot rate down cycle likely bottomed in April, elevated Class 8 build rates will limit near-term growth. Analysts predict that while seasonal trends will continue, any major surge in rates is unlikely without a significant market disruption.
Source: Transport Topics
📊 Trucking Industry Trends: June 19th–June 25th 2023 📊
— DAT Freight & Analytics (@datfreightteam) June 27, 2023
Spot truckload rates continue to parallel 2019 trends, with a relatively muted produce season effect. The typical produce lift on spot reefer rates is 8 cents per mile lower this year.
Learn more: https://t.co/VYaRtUjN37 pic.twitter.com/ri3kJg9VSM
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.
Morgan Stanley's latest TLQURE model forecasts significant increases in truckload spot rates over the next year. What does this mean for the industry?
Southeastern carriers are rejecting loads at the highest rate since July 2022, breaking a two-year trend of low volatility and loose capacity.
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).
