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.
Unseasonable surge in demand for domestic transportation offers a glimmer of hope, with OTVI up 7% versus month-ago levels.
The domestic transportation sector is experiencing an unusual increase in truckload tender volumes, diverging from the typical summer demand patterns. The national Outbound Tender Volume Index (OTVI), which represents the electronic requests from shippers to carriers, has seen an approximately 7% surge compared to the previous month.
This shift provides a refreshing break from the trends of 2022, when tender volumes fell by around 17% from early March to late April. While theories suggest recent labor disputes could be driving this increased activity, the capacity remains ample, showing the industry's resilience in meeting this unexpected demand.
Source: FreightWaves
The freight market just might surprise us with a robust 2H.
— Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) July 29, 2023
I've been incredibly bearish on a second-half turn-around in freight volumes, but we are seeing green shoots in the data that might prove me wrong. pic.twitter.com/EX4BdIEmsB
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).
