Happy New Year!
We hit an ALL TIME HIGH in the last week of 2017 in all facets - TL, LTL and Reefer...flatbeds leveled out, but vans & reefers were up. Most technical indicators lag a bit but the best indicator market is price.
Thanks to the ELD Mandate and frigid weather across the Northern region, we witnessed a frenzy of people urgent to get their LTL and TL shipping moved. We felt it on the phone and over our email orders watching longer transit times across the boards and higher prices.
NEWS YOU CAN USE!
- Van Ratios Hit an All-Time High during the week of Dec 24 - 30 - This urgency to move freight before the end of the year, combined with the frigid weather and tight capacity due to both the holiday and the recently initiated ELD mandate meant that it cost more to move those loads last week.
- Load-to-truck ratios surged, setting a new all-time record-high of 12.2 loads per truck for vans.
- Spot rates also reached historic highs: The national average van rate rose 2¢ per mile, the national reefer rate jumped up 6¢ per mile, and the average flatbed rate held steady, along with the price of fuel.
A giant storm just descended on the North and - guess what? Truckers do not want to go where the roads are icey and LTL carriers park their trucks to avoid costly accidents. This wreaks havoc on logistics agents, because many times, we are locked in on quoted rates.
How do we cope?
Usually all it takes is some criticle thinking and some tactical transaction engineering - something we take pride in at Go123 Logistics. We always answer our phones and stay on top of the problem to work the solution. Under promising and over-delivering is the key to our consistent service. How can we help you?
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