The cost to transport America’s harvest from the Midwest to the rest of the world is soaring as shrinking water levels on the Mississippi River drive up barge freight rates.
Excess capacity in the spot market amid weakening demand has raised uncertainty over whether rates have actually hit bottom.April 5, 2023
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.
One of the world’s biggest shipping lines has decided to stop increasing spot freight rates on routes out of Asia to Europe and the U.S. as it sees an end to the rally that has put prices at record highs.
Trucking spot loads and rates have started to settle back to normal after surging for weeks as a result of ongoing capacity issues coupled with frigid weather.March 18, 2021
Trucking is providing one of the few bright spots to the flagging U.S. economy as tight capacity and a driver shortage push contract and spot rates higher across vans, flatbeds and refrigerated trucks.
The trucking industry could soon see a jump in contract rates if the current environment holds steady, experts said.August 26, 2020