Last year will go down in the books like 2019 did – an unprofitable year for carriers with the usual twists and turns. Unlike 2019, though, we have not seen anywhere near the level of carrier bankruptcies reported despite the number of long-haul carriers exiting the market. To put 2023 into context, we must go…
The first quarter, or “Quiet Season” in freight, is also impacted by a slowdown in Asian imports. Except for 2020, February import volumes are typically the low point each year before picking up in March and then steadily increasing to October, when import volumes usually peak. According to IHS Markit/PIERS data, February volumes decreased around…
The rate of long-haul carriers exiting the industry slowed in November following the exodus reported by the FMCSA in October. As has been the case over the last few years, whenever there is a significant surge in diesel prices, carrier exits accelerate in the ensuing weeks as the cash flow crunch hits. The third-highest number…
On a recent DAT iQ show, we spoke to commercial warehouse and economics expert Ibrahiim Bayaan from Nuveen about the 2024 outlook for trucking. The complete version of the show can be found here. Get the clearest, most accurate view of the truckload marketplace with data from DAT iQ. Tune into DAT iQ Live, live…
We’re a few weeks away from the official start of winter, but we’re already seeing the annual shift in produce farming to warmer southern latitudes. At the start of December, the number one domestically produced commodity being hauled by truckload carriers is, not surprisingly, potatoes (18% of weekly volume). After all, it is harvest season…
The contract freight market continues to soften despite the American Trucking Associations’ (ATA) advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increasing by 1.1% in October. ATA’s tonnage index, which includes truckload and LTL freight, is dominated by contract freight with minimal spot market loads. “After hitting a floor in April, tonnage has slowly and…
The flatbed market has been flat for most of 2023, with very little good news on the horizon. Still, Daseke, Inc., the largest flatbed carrier nationwide, delivered excellent results in the third quarter against some challenging headwinds. Jonathan Shepko, Chief Executive Officer of Daseke, said, “Adjusted for fuel and equipment gain on sale, the company…
We could be witnessing a reversal of last year’s diversion of import volumes away from the West Coast to the East and Gulf Coasts. Shippers fearful of labor disruptions and port congestion diverted imports to ports like Houston and Savannah via the Panama Canal in 2021 and 2022. The 2024 International Longshoremen’s Association (ILA) labor…
You can’t always stay below I-40 when it’s below 40° Even the most experienced drivers struggle with icy roads and sub-zero temperatures when winter delivers a mix of nasty weather and road conditions. For drivers, the miles get more complex and slower than during summer. Moreover, any hidden equipment fault is exposed almost immediately, making…
My local farmstand proprietor in New England told me last week he had considered not selling Christmas trees this year due to recent drought conditions and the substantial impact on cash flow. In this case, the business owners had to place their 2023 order of trees in August and pay in complete, causing an enormous…