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Q2 2023 Spot & Contract Trucking Rate Recap. Last year, the balance of supply and demand in the truckload market tipped away from carriers, and we entered into a shipper's market — plenty of available carrier capacity, declining freight volumes, and declining spot rates.
With 2024 bid rates now in effect (most of them lower) and spot rates trending higher, the divergence will drive volatility as cash-strapped carriers look to increase profitability after a very difficult 2023 (and early 2024).
20 cze 2023 · The 2023 freight and shipping market displays some vulnerabilities amidst robust consumer sentiment and a healthy labor market. The market balance is shifting towards normalizing capacity, which could influence rate dynamics and power balances.
1 gru 2022 · Truckers need strong rates to offset rising expenses to attract and retain drivers, as well as higher insurance, fuel and equipment costs.
12 sty 2023 · FTR looks at key economic and trucking industry indicators and offers an outlook for freight transportation in 2023.
By tracking directional trends for truckload demand (volume) and available capacity (trucks) in the market at any given time, we can predict rate trends with a high degree of accuracy and consistency. With that, we present to you our rate forecast for the year ahead.
7 kwi 2023 · Although the market experienced more volatility than expected during the 2022 holiday season and early January 2023, conditions have fallen in line with where we projected they would be late in Q1 2023. Downward pressure on rates persists as the economy and truckload demand normalize toward pre-pandemic levels.
