Stay in the Know: Carrier Trends & Market Updates

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May 09, 2024

Stay in the Know: Carrier Trends & Market Updates

News

April Recap: Load to Truck Ratio Increase

Fuel Price & Spot Load Highlights:

  • Fuel Price: Decreased by 0.6% compared to March
  • Spot Loads: Increased by 6.9% compared to March

Why Does It Matter to Me?

Overall, with van and flatbed loads there was an increase month over month with load to truck ratio. A high load to truck ratio indicates a high demand for trucks, which can lead to increased freight rates and tighter capacity in the transportation industry. Even though there was a decrease in the spot loads, there was also a decrease in available trucks.

Major Disruptions to Look Out for:

  • For refrigerated equipment, we started to see a shift in certain areas due to produce season.
  • Example: Avocados in lower Texas, produce in Florida, and produce in Arizona.
  • This caused a shift in the market, increasing rates coming outbound of those areas.

March Recap: Increased Competition Among Transportation Carriers in the Market

Fuel Price & Spot Load Highlights:

  • Fuel Price: Decreased by 0.6% compared to February
  • Spot Loads: Increased by 12.3% compared to February

Why Does It Matter to Me?

With the increase in spot loads, you tend to experience increased competition among carriers in the market. This leads to lower rates as carriers compete, by offering competitive pricing.

Major Disruptions to Look Out for:

  • Carrier rates for loads going South trending downward due to demand coming out being higher.
  • Collapse of Baltimore bridge leading to lower load volume in area, creating market shift for competitive drivers.
  • Flatbed rates during Construction season can be higher in areas that are developing.
  • You will also see more flatbed capacity migrate to certain regions to get away from weather, leading to higher rates as capacity grows.

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