Logistics CEOs Confirm Economy’s Resilience via Freight Pulse
This week, on FreightWaves Today, we interviewed the CEOs of: The largest surface logistics company The largest surface freight and intermodal provider The largest consumer parcel shipping platform The 2nd largest LTL provider The largest port in the US One of the largest trucking banks The editor of the largest rail media business And every single one of them talked about resilient the economy is, including consumer activity. Freight markets provide the highest frequency pulse on the economy. Btw, you can listen to all of these interviews on FreightWaves.
Freight Capacity Remains Tight as Demand Surges
We are getting some fantastic economic data that pertains to freight markets. ISM's manufacturing index showing robust activity (54), while the LMI's upstream data is massively bullish. The surge in tender rejections continue, just shy of 17%, as capacity shows...
Freight Market Tighter than Expected, Demand Stays Strong
The freight market tightness caught Estes President Webb Estes off guard. Market volumes have been stronger than expected, with no sign that consumer freight demand is slowing.
Truckload Rejections Spike to 16.36% Amid Tight Capacity
SONAR’s truckload rejection rates surge overnight to cycle highs: 16.36%. Capacity is tighter today than it was during Roadcheck week or Memorial Day. As we heard yesterday on FreightWaves Today, Estes and the Port of LA are seeing higher demand coming from...
Truckload Spot Rates Hit Record as Demand Outpaces Supply
Major overnight surge on truckload spot rates to new all time high. Truckload van spot rates moved up $.09/overnight to $3.83/mile, the highest level in history. This is happening despite fuel prices cooling, reinforcing that rate inflation has been driven by...
Flatbed Rates Surge on AI, Energy, Military Demand
Flatbed truckload rates since January are on a remarkable run thanks to AI data centers, energy, and military production https://t.co/krAQqoEVjV
Truckload Contract Rates Hit $2.56 per Mile
Truckload contract rates are on the move again. Up to a new cycle high of $2.56/mile. https://t.co/9Rp46MMosX
American Truckers Crushed by Flood of Unqualified CDL Drivers
For the past four years, hundreds of thousand American truckers, many of them involved in the industry for decades, have suffered from the worst economic crisis in history. There have been tens of thousands motor carriers, often small single truck operators,...
Wholesale Diesel Drops $0.90, Hitting Cycle High
Wholesale diesel prices have dropped by $.90 since peaking in late March. This will likely be a cycle high. https://t.co/pusqr360ln
Produce Season Spikes Load Rejections to 2021‑22 Levels
The produce season is underway, and shippers are struggling to cover loads, with rejection levels at their highest point since the NYE holidays of 2021/22. https://t.co/SHTfHlPtVe
Fuel Price Swings Blamed on Market or Inventory
Truckstop logic on retail fuel prices: When fuel goes up: "You have to pay the higher price because that is what the market is clearing at. It is out of our control." When fuel goes down: "Due to pre-purchases of...
SONAR Launches Affordable Plans for Every User
One of the biggest complaints we have received about SONAR is that it is too expensive. To address this, we have created a number of low cost packages for specific missions: $9.99/month iOS mobile app - ideal for those that want quick...
Truck Rates Hit All-Time High, Capacity Tightens
Yesterday’s trucking spot rates showed strength. +$.06/mile from $3.53 to 3.59/mile. This is higher than most of Roadcheck week. Capacity continues to stay restricted. On the 7-day chart, rates are at all time highs. If rates hold through strength through next week, it...
Compliance Crackdown Boosts Viability of Autonomous Trucks
One of the realities of the compliance crackdown is that is makes autonomous trucks more viable. We are looking at a decade out before the point to point driverless is market ready, but every penny of increase in rates is...
Texas Trucker Faces $49M Judgment; Brokers Jointly Liable
$49m judgement against Texas trucker that is out of biz. If a broker had been involved, they could be held liable not only their portion, but the entire amount as joint defendants.
Smart Truckers Switch to SONAR, Uncover Lost Revenue
It isn’t price collusion. It’s data. The smart truckers have all switched to SONAR and realized how much money they were leaving on the table with DAT.
True Founder Freedom Comes From Cash, Not Fundraising
A tech company that needs to raise money never actually controls its own destiny. Last year, I decided we were never going to raise money again and pivoted our SONAR business towards throwing off cash. Remarkably, our growth has also picked...
Conditional Safety Ratings Stigmatize Truckers in Post‑SCOTUS Era
A conditional safety rating is a scarlet letter for truckers in the post-SCOTUS world. Barrs says the FMCSA plans to address this, but it is unclear what that means. He is aware of the importance of safety ratings in the...
Troopers Ride with Truckers to Grasp Industry Challenges
Derek Barrs talk about the importance of troopers riding along with truck drivers to understand the challenges and issues in the industry.
Post‑SCOTUS: Brokers Shift, Consolidation Looms
More updates post SCOTUS: - Everyone believes rates will continue to surge. "You haven't seen anything yet." - Highway told me that the biggest shift this week has been brokers staying away from non-dom CDLs. This was a significant...
Shipper Mulls Dismantling Traffic Dept After SCOTUS Ruling
A mid-market broker told us that one of their largest shippers is considering eliminating its entire traffic department and outsourcing it to managed transportation in light of the SCOTUS ruling.
Shippers Tighten Safety and Financial Compliance Underwriting
Shippers are going to ramp up their safety and financial compliance underwriting among transportation providers. https://t.co/LrLWJGU3RN
Truckload Spot Rates Hit Record, Market Turns Ultra‑Bullish
Truckload spot rates hit all-time record of $3.69. RXO comes out with very bullish market update, talking about the significant amount of spot opportunities as shippers scramble for capacity in a tight market. Tender rejections hit new cycle high. Enterprise...
Brokerage Insurance Costs Could Surge Fivefold
TIA: Brokerage insurance rates today 1-3% of gross revenue. Could go up 5x. 😳 https://t.co/SFiNmm1ONg
Safety Rating Gaps Could Push Spot Rates to $5/Mile
$5/mile for truckload spot rates on the horizon? With 30% of the trucks in the market either having no safety-rating or a conditional safety rating, we could see a large percentage of those carriers drop out of the market. Rates...
SCOTUS Ruling Threatens 1.5M Trucks, Crippling Capacity
Trucking capacity is the tightest it has been in years, with no relief coming anytime soon. The SCOTUS decision could result in the biggest trucking capacity purge in history. There are an estimated 1.2m trucks (36%) with no safety-rating. There are an...
Spot Rates Surge to $3.55/mile, Capacity Remains Tight
Daily truckload spot rates bounce back yesterday to roadcheck levels of $3.55/mile. This is happening despite DOT Roadcheck ending on Thursday of last week. It suggests that drivers took off last week and are not returning before the Memorial Day holiday....
Flatbed Rates Surge to Record High, Favor Compliant Truckers
Flatbed trucking rates hit new all-time high as industrial demand and a crack down on bad actors continues to shape trucking economics. It is a great time to be a compliant trucker in America. https://t.co/24j4HeOXf3
Upcoming Super Cycle Makes Trucking Ownership Prime
This has been true for 45 years, but the events of the past year are causing a massive correction that will result in the greatest super cycle for trucking in history. It is time to own a safe and compliant...
Conditional Carriers Risk Loss as Brokers Shun Them
26% of all motor carriers with a safety rating from the FMCSA are considered "conditional." This is the group of carriers that represent the riskiest to load. The data is public, and it will be easy to prove that the broker...
Loadboards' Risk Spurs Shift to Closed Broker Exchanges
The riskiest thing that a broker can do is to do business with a carrier that they don't know. This is the power of loadboards: matching brokers with new carriers with whom they have no history. Loadboards are also breeding grounds...
SCOTUS Ruling's Ripple Effects on Freight Market Today
Adamo, Leffler, and I will be on a special edition of Freight Expectations at 3PM ET today. It will be streamed on the FreightWaves X account to discuss the SCOTUS aftermath and its implications for brokers, carriers, shippers, and the...
Flatbed Truckload Rates Hit Record $4.17 per Mile
Flatbed truckload rates continue to set new records almost every single day - up to $4.17/mile https://t.co/4IiSlX08Ba
Asset Carriers Gain Share, Driving Higher Freight Rates
Citi: "Largest brokers and carriers are best positioned to accumulate share." Asset-based carriers are the biggest winners. This will lift freight rates as shippers seek reliable partners with visibility into who is transporting their freight. Brokers will likely seek enhanced insurance...
SCOTUS Ruling Triggers 9x Insurance Surge for Brokers
TD after SCOTUS: "Well-capitalized, high-compliance asset players gain most. Large, compliant brokers could benefit as smaller non-compliant brokers exit." Predicts a massive squeeze on insurance for brokers, and believes brokers will pay similar rates to asset-carriers in the future. "Brokers receive...
Paper Trails Become Broker Compliance Must-Have
Hot take from a senior exec at one of the largest firms in the space: Paper trails are going to be paramount for brokers going forward. It will be imperative for the broker to demonstrate that they did everything in their...
Big Freight Execs Celebrate; Small Truckers Face D‑Day
I don’t think I’ve heard a more ecstatic set of executives in all the years covering freight than today from anyone that runs a billion+ freight and logistics operation, including the large 3PLs. It’s d-day for small operators today. To small...
SCOTUS Ruling Favours Big Brokers, Punishes Small Truckers
SCOTUS decision winner/losers: Winners: Plantiffs attorneys Defense attorneys Risk management consultants Insurance brokers Mega truckload carriers Top 200 freight brokers Lobbyists Fraud and compliance software Losers: Anyone not a top 200 freight broker Small trucking firms Load boards Factoring companies Anyone working with small truckers...
Rail Traffic Rises Five Weeks, Ag Leads Industrial Recovery
Rail traffic is up for the 5th week in a row, with Ag leading the way, followed by chemicals. Industrials are coming back, as both rail and flatbed data both show accelerating momentum. https://t.co/QRQNtsi6No
Introduce a ‘No‑Load List’ to Block Bad Trucking Actors
Regulators should create a “no load list” that every shipper and broker should be required to check before load tenders. Every person that has access to the American banking system has to be checked against a database called the OFAC...
Midwest and Southeast Surge as West Coast Lags
Notice that the Midwest and Southeast are surging, while the Westcoast hasn’t kept up. You are see a live look at American reindustrialization.
SONAR Launches Comprehensive Carrier Safety & Fleet Dashboard
SONAR releases a new carrier safety and fleet intelligence dashboard. This dataset tracks market-wide safety and fleet data, including all inspection and Out of Service info, broken up by state. Market-wide crashes. And a new improved fleet data dashboard, which shows...
Hyperscalers Pour Record Capex Into US, Taiwan Economies
This is doing remarkable things for the economy. Rather than sitting on cash, the hyperscalers are deploying it back into the American and Taiwanese economies
F3 Returns to Chattanooga with Record Pre‑Booking Momentum
F3 is coming back to Chattanooga this October. Prebooking momentum is at the highest it’s been in years, we are going to have an epic event. Back at the Chattanooga Choo Choo.
Truckload Spot Rate Peaks $3.11, Breakout Expected
The 7-day national truckload spot rate index hits a new cycle high at $3.11/mile. The index has been range bound between $3.04 - $3.10 since April 1st. We expect rates to breakout this week with Roadcheck (the annual DOT safety blitz). https://t.co/POwxl0AzqJ
Register by May 14 to Block Industry Fraud
The FMCSA is doing God’s work and trying to get rid of the riff raff, but needs your help. If you are on active motor carrier, be sure to preregister your information in the portal before May 14th. MOTUS comes out...
Bullish Transport Earnings Season Tempered by Demand Caution
Earnings season is nearly over. 71-transportation related names have or will report across the spectrum of trucking, rail, ocean, 3PL, warehousing, tech, banks, and OEMs. We summarized the quotes and had AI rank them on bullishness in a new research...
Forward Air Plunges 45% After Hours, Covenant Default Risk
Forward Air got obliterated in after hours. Down 45% today. Risk of default to bank covenants. https://t.co/wh6l8IW59O
All‑Mode Freight Earnings Ranked by Bullish Sentiment
We've accumulated earnings call reports from 73 freight-related companies to track major trends, sentiment, common concerns, and quotes about the freight market, across every major mode: Truckload LTL 3PL Rail Parcel Managed Trans Telematics and Tech Payments and Factoring Rail Car Leasing OEMs Warehousing Container...
Bulk Rail Data Better Gauge of Economy than Intermodal
Intermodal is down because of soft imports relative to last year. Intermodal was stronger last year because of all the prestocking to front run Liberation day tariffs. Frankly, I am more excited about the bulk rail data, it tells you...