Truckload

Transportation observers believe the dueling complaints could have implications for the US spot truckload market because DAT is a primary source of available loads that brokers and carriers use to fill their pools of owned or third-party capacity.

Echo Global Logistics, Coyote Logistics and prominent transportation management system vendors Oracle and e2open are among new members adding momentum to a truckload appointment scheduling initiative.

Transportation and logistics companies continue to grow by acquiring competitors, and although the wave of acquisitions may have crested there is still plenty of opportunity in a soft market.

Despite negative trends being felt in some parts of the US manufacturing landscape, it’s not all bad news for trucking because other sectors are poised to have volumes at or above 2022 levels, writes analyst Jason Miller.

With contract rates down as much as 16 percent in March, producer price index data indicates truckload carriers are making more use of accessorial charges.

The market bottom remains untouched as the all-inclusive average spot rate paid by US truckload shippers fell again in March, declining in lockstep with other truckload pricing measures.

The 50 largest US trucking companies maintained a two-year double-digit growth streak and may add to that in 2023, despite a slower US economy.

The number of for-hire trucking firms entering the US market is nearly as large as the number leaving on a monthly basis, which is helping to keep capacity loose despite the departures.

There is still room for spot rates to fall, but rates and freight demand are likely to turn later in the second half, analysts say. 

In preparation for produce season and retail sales, for-hire trucking companies are adding to their payrolls for the first time since October, although warehousing employment is still declining.

Knight-Swift, the largest US truckload provider, will substantially expand its reach and scalability for shippers with the purchase of U.S. Xpress, the country’s ninth-largest truckload carrier.

Shippers that often use spreadsheets and small transportation teams to bid and execute freight shipments are the target of a new software tool from technology provider Shipwell.

Trucking is a tale of two sectors in early 2023, with truckload carriers making more significant contract rate concessions than less-than-truckload companies, according to the US producer price index.

An actual decrease in truck tonnage last month was masked by a seasonal adjustment to an American Trucking Associations index, but US freight volumes aren’t yet on the road to recovery.

Freight coordination software provider Leaf Logistics is working with a number of shippers and truckload carriers to build flexible, dedicated fleets to allow for continuous moves in big US markets.

Lower rates and ample capacity are drawing more freight to the US truckload sector, particularly the dedicated and contract markets, according to the Cass Freight Index report.

Smaller trucking firms are leaving the market at a faster rate, but plenty of truckload capacity remains, especially at larger fleets that are just short of record truck counts.

Meeting the EU road emissions targets will not be achieved by focusing exclusively on electric vehicles, with the combustion engine likely to play a significant role over the next two decades.

Primarily an industrial transportation sector, the LTL business is moving into retail and is also becoming more involved in transloading at US port cities. 

Analysts have told the Journal of Commerce they expect spot market pricing to bottom out and remain flat for some time before rising again, most likely at a slow pace.

Smaller US truckload carriers and the companies that provide them with access to working capital are under increasing pressure as cargo demand slows.

The expansion of truck parking along US highways is a primary objective of the "SHIP IT" act, along with providing incentives to attract and retain more drivers.

Lower rates and abundant capacity should promote stability in the truckload market in 2023, but any semblance of normality is conditional, at best, until the broader US economy is on a more stable footing.

US dry-van spot rates appear to be stabilizing, but contract rates are dropping by double-digit percentages as new pricing and service agreements take effect.

The sharp increase in freight activity seen at the Port of Houston over the past year has prompted national drayage provider RoadOne IntermodaLogistics to acquire a Texas motor carrier.

The change in leadership is likely to accelerate strategic changes in planning and capital spending at C.H. Robinson that have been under way since last March at the urging of investors.

The need for forwarders to tether quoting and tracking in international freight modes to US surface modes has been highlighted by new offerings from ECU Worldwide and Freightos.

Truck freight demand is falling closer to 2021 levels as 2022 draws toward its close, putting more pressure on truckload and LTL rates.

Falling spot truckload rates may hit bottom in the first quarter of 2023, followed by contract rates later in the year, if forecasts from third-party brokers hold true.

Ryder System is joining the race to deploy more drop-and-hook trailer pools for shippers that need greater flexibility to reduce costs and counter supply chain disruption.

Stubbornly strong industrial output and pent-up demand are expected to keep pressure on trailer manufacturers to increase supply, even during a US economic slowdown.

Several US truckload shippers say they are leery of using the spot market because they wish to maintain strong relationships with their trucking partners rather than be seen as transactional when the market flips in favor of carriers.

Freight volumes are dropping month to month but remain higher than a year ago, buoyed by inventory repositioning and easing supply constraints for manufacturers, according to the latest Cass Freight Index.

The investigation by US authorities into whether Pitts Enterprises evaded duties on chassis may have serious ramifications for the South Carolina Ports Authority, which ordered 11,000 chassis from a Pitts subsidiary to launch its own pool next March.

US transportation companies with cash on hand are acquiring asset-based truckers and non-asset freight brokers alike to add services and shipper customers and build network density.

After rising strongly from the third quarter of 2021 through the second quarter of this year, the JOC Truckload Capacity Index dropped slightly last quarter, but demand for equipment is still high.

The acquisition of ReedTMS Logistics not only expands Werner’s brokerage reach, it also delivers shipper customers in the staple food and beverage industries.

US truckload capacity isn’t so much declining as it is shifting, according to data, and that will pose challenges to shippers and carriers trying to access trucks, trailers, and drivers.

Two of the United States’ biggest logistics providers say they are focused on controlling costs amid growing concern about the direction of the US economy.

Regional stress is running through US truckload markets as demand softens, with price and capacity fluctuations that challenge shippers and carriers.