Trucking companies are navigating a challenging economic environment where stubbornly high costs for goods are affecting what shippers are willing to pay for transport, experts warned.
Shippers are in the driver’s seat as spot and contract rates continue to soften, but industry analysts said rates likely will stabilize throughout 2023.
U.S. trucking is entering a tumultuous period that will likely reshape the $875 billion industry. Shipping rates that spiked during disruptions caused by the pandemic have plummeted as inventory gluts across the U.S. lowered demand.
Digital freight load board DAT Solutions on April 6 announced Schneider Logistics Services joined a pilot program to evaluate emerging tools to better forecast truckload freight rates.April 9, 2020
The combination of the electronic logging device mandate, a shortage of drivers and an improving freight market has carriers and shippers wondering about transportation prices heading into 2018.
Regulators appear likely to accept the financially beleaguered Postal Service’s request for more freedom to raise the price of mailing letters. It would be the biggest change in the Postal Service’s pricing system in nearly a half-century, allowing stamp prices to rise beyond the rate of inflation.
The gap between contract rates and spot market rates in the truckload industry tightened in April, according to the latest Chainalytics-Cowen Freight Indices.June 9, 2017