NAVIGATING THE FREIGHT MARKET IN Q3 2023

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Aug 29, 2023

Navigating the Freight Market in Q3 2023

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In most market categories, consumer spending is down compared with the past two years. This has resulted in a drop in demand for freight services. As a result, carriers are gradually leaving the market. With the influx of new entrants in the past few years, it is taking time to align the oversaturated carrier market with the decreased demand.

In Q3 2023, spot rates have seen a year-over-year decrease of 9.9%. But they are on their way up. For freight carriers, it is critical to have visibility into internal and external datasets and to engage in proper planning. This foresight will help you navigate the market as it approaches inflationary territory and ensure your success in the industry.

While spot rates are slowly increasing and contract rates are following suit, we want to highlight that there hasn’t been a significant event to accelerate these rate increases since the CVSA International Road Check and Memorial Day. Barring any unexpected events, such as severe weather conditions or disruptions, we anticipate that normal seasonality and capacity attrition will be the primary driver of the freight market through Q3 2023 and into Q4 2023.

As you prepare for the upcoming peak season and national holidays, keep a close eye on how these factors will impact freight volume and rates. Being aware of these trends and planning accordingly will be crucial for your success as freight carriers. Stay informed, adapt to the changes, and make the most of the opportunities that come your way in the ever-evolving freight market.

Interested in diving into the details? Read our comprehensive report in the Transportation Outlook.

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4 STEPS FOR SUCCESS IN OVERSIZED FLATBED SHIPPING

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Aug 18, 2023

4 Steps for Success in Oversized Flatbed Shipping

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Shipping oversized loads on flatbed trucks can be a challenging and complex task. From securing unique equipment for over-dimensional or overweight freight to sourcing specialized truck types, each step of the shipping process requires careful consideration. This guide dives into the challenges of shipping oversized loads on flatbeds and explores how finding the right flatbed provider can simplify the process.

Step 1: Find a specialized carrier.

Shipping oversized loads requires a carrier with the expertise, experience and resources to meet unique freight requirements.

Step 2: Make sure they have the right equipment.

A specialized carrier can provide or accommodate unique equipment such as straps, tarps, chains and binders that are necessary to secure and protect the cargo during transit. These carriers’ expertise in handling over-dimensional or overweight shipments ensures they can navigate the complexities of securing proper permits, planning optimal routes and employing specialized equipment like cranes, forklifts or rigging systems to safely transport your cargo.

Step 3: Make sure they have the right truck type.

Flatbed trucks come in various sizes and types. Common sizes like 48′ are easy to find, but other truck types like 53′ trailers or specialized trailers like low boys, step decks, RGNs, and conestogas are harder to source. Each type of flatbed truck has its advantages – so work with the carrier to make sure the truck type will meet your needs and keep your load safe.

Partnering with a specialized carrier with access to diverse and unique truck types can guarantee that your freight is transported using the most appropriate and efficient equipment, creating a more streamlined shipping process.

Step 4: Make sure they have the right handling methods.

Proper freight handling during shipping is essential to minimize the risk of damage or loss.

Oversized cargo requires unique handling and storage techniques that require specific expertise. Choosing a specialized carrier that prioritizes proper freight handling enables you to have complete visibility and control over the shipping process and to ensure the safe delivery of your freight. Some carriers allow you to approve or adjust how your freight is secured before it’s moved, ensuring that your freight is handled with care and according to your specifications.

Shipping oversized loads on flatbeds poses unique challenges, so working with a partner that has the right expertise and can guide you through the process is extremely important.

When choosing a specialized carrier with expertise, experience and resources in shipping oversized cargo guarantees a seamless shipping process. Partnerships with brokers like NTG, who prioritize customer satisfaction, give you peace of mind and confidence in the safe and secure delivery of your oversize loads. By working with a specialized carrier, you can be assured that your cargo is in good hands, and its challenging transportation needs will be met with the best possible solutions.

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MANAGE SUPPLY AND DEMAND SWINGS WITH A DIGITAL LOGISTICS PLATFORM

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Apr 26, 2022

Manage Supply and Demand Swings with a Digital Logistics Platform

News

Capacity restraints, rising costs and labor shortages continue to plague the logistics industry from initial ordering to shipping through to last mile delivery. We recently spoke to Inbound Logistics on our take for managing swings of supply and demand and how all parties can become more efficient. SPOILER ALERT – the resounding answer for almost all challenges faced by those in logistics is reliance on a digital logistics platform.

Artificial intelligence and automation coupled with an open-source platform enables matching shippers and carriers at scale. Market conditions are changing so rapidly and using the right digital logistics platform can be a game changer for shippers and carriers alike.

Read the full article here.

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