FreightWaves’ Lincoln Duff delivered an insightful freight market tidbit Thursday, August 29.
Hello TPP Group Members, and welcome to my favorite day of the year: The start of college football! (Note: last week didn’t count, it was a good primer, but the football was sloppy and Florida was lucky to get that win).
For those of you who, like myself, spend months thinking about your team and convincing yourself they’ll go 15-0, the wait is almost over! Unfortunately your team will most likely not go 15-0, and could even lose this weekend, but right now we’re all filled with optimism and hope! With all of that said, let’s get to today’s Freight Market Playbook.
Target the upper Midwest
After a quick huddle with some of the FreightWaves Market Experts and SONAR, it was clear today’s touchdown will be found in the upper Midwest. Tender rejections have spiked over the last few days, specifically the Dakota regions and western Minnesota. Tender rejections in those areas are up over 30%, with reefer tender rejection rates spiking up over 60%.
Shippers have fumbled the ball and the carriers can take advantage of the turnover. Because of the spike in tender rejections, these shippers are having a hard time covering their freight, and even a harder time with reefer loads. If you have a truck in the area look for spot loads and bid higher than normal. This is a great chance to increase revenues or for your brokerage operations, drive up margin…a real Hail Mary.
Bottom line:
Accept all loads into the upper midwest, then increase your bids for spot freight in the area. If you have reefer trailers send all of them you can up there, as you should be able to drive up rates this week.
Follow these leads today and you should have a nice comfortable win, just like I hope all of your teams do… unless you root for Ohio State!
Although new guidance on mask wearing returns the industry to some semblance of normalcy after over a year of lockdowns and restrictions, employers should remain cautious in revising policies.
While Texans are accustomed to living life free of excessive state-level taxes, they were in for a shock when their own U.S. Senator, Republican John Cornyn, used his national platform to advocate for the establishment of a truck-only vehicle miles traveled tax.
As we discuss ways to improve the sales relationship between carrier and shipper, the term “commodity” always comes up. Most carriers feel being a commodity diminishes the services they provide. It doesn’t have to be that way.
The nation’s top trucking research group plans to update previous studies on the effects of legalized marijuana and other drugs on truck safety along with integrating 18- to 20-year-old drivers into the industry.
Throughout the entire 90-year history of trucking in the United States, excessive detention has been a scourge on the industry. An upcoming 90-minute immersive workshop will share tools and strategies to combat this issue and keep the wheels moving and profitable.
While a request for Supreme Court review of the Ninth Circuit Court of Appeals decision to overturn an injunction banning enforcement of California’s AB5 will almost certainly follow, at this time, motor carriers who operate in California must be prepared to act in accordance with AB5.
The word “safety” is everywhere in the trucking industry. It is talked about nearly every day in the press, Congress has zeroed in on it, and most carriers will say that it is their top priority. With all this attention, it’s easy to believe that safety has become cliché. But it’s not.
A day after Colonial Pipeline said there was light at the end of the tunnel for the line’s closure due to a cyberattack, the impact of the shutdown on the ground is being felt.
Truck drivers and fleets have two months to prepare for the Commercial Vehicle Safety Alliance’s (CVSA) annual Operation Safe Driver Week, which is set for July 11-17. Here is what inspectors will be looking for.
