spot market News Updates

Spot and contract rates edged higher during the quarter, while many carriers sharpened their focus on internal efficiency and operational improvements.

Ongoing headwinds weighed on trucking in the first quarter, but carriers also pointed to emerging tailwinds. Trucking firms cited better pricing power.

The trucking industry is facing a tepid financial outlook amid volatile market conditions compelled by the ongoing tariff-fueled global trade war, experts said.

Tariffs introduced by the Trump administration, and the consequent aversion to risk, are a major reason why there is no clear trajectory for recovery, the study’s authors warned.

FTR expects contract truckload rates to increase 2.2% on a full-year basis in 2025, adding that by the end of 2025, contract rates will be rising 5% year on year.

Uber Freight introduced a spot freight fulfillment platform to expand beyond its flagship contract procurement tool launched last year, the company announced May 16.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The trucking spot market has remained in a down cycle for more than a year as the number of trucks and drivers diminished — albeit at a slower rate than the decline in overall freight demand.

The second quarter of 2023 has revealed a potentially bleaker outlook for the freight market, almost reaching numbers of the freight recession witnessed in 2019. Discover the secrets behind success as we explore how freight brokers should navigate the uncertainty of a down market.

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