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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.
Werner Enterprises' CEO Derek Leathers believes the worst of the freight downcycle is over, despite ongoing challenges and volatile fuel costs.
After a challenging period for Werner Enterprises, Chairman and CEO Derek Leathers optimistically predicts that the worst of the freight downcycle may be behind. Leathers provides insights:
Leathers acknowledges the endurance of smaller carriers and mentions Werner’s cost-saving initiatives of over $40 million, a significant portion of which have already been enacted. As the market recovers, Leathers assures that Werner will remember which shippers honored their agreements during tough times.
Source: FreightWaves
The consensus has the freight market around its bottom, so the only place to go is up. But the July Cass Freight Index suggests the climb isn't happening yet, with shipments -8.9%, truckload -12.7%, inferred rates -17% & expenditures -24.4% from last year https://t.co/U0GGI116XY pic.twitter.com/OFhLU4RITy
— InTek Logistics (@InTekLogistics) August 14, 2023
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.
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